In this episode, Duncan and James break down the top three business mistakes they see regularly among startups and SMEs — from over-trading and overreaching to cash flow pitfalls and aging debt. Packed with insight from both the finance and marketing world, this is a must-listen for business owners who want to grow without burning out or going bust. Practical, no-fluff advice — all delivered with humour and real-world examples.🕒 Timestamps & TopicsTimestamp Topic00:00 – 01:17 Intro & what this episode covers: business mistakes, financial insights, and marketing slip-ups.01:17 – 04:46 Mistake #1: Over-trading — what it is, how it happens, and why saying “yes” to the big client can sink your business.04:46 – 06:33 Organic growth vs reckless expansion – how to scale with sustainability.06:33 – 08:46 Real-life parallels from the film & TV industry – production financing and long-term debt.08:46 – 11:00 Mistake #2: Spreading yourself too thin — shiny-object syndrome and chasing too many ideas.11:00 – 12:23 Elon isn’t your business model – the myth of the multi-project entrepreneur.12:23 – 13:39 The “one rocket ship” principle and how to pick your project.13:39 – 14:52 Why outsourcing beats trying to be everything to everyone.14:52 – 16:42 Timing your diversification and knowing when you're ready to scale or mentor others.16:42 – 18:00 Profitability, alignment, and the temptation of short-term wins.18:00 – 20:52 Free work and charity jobs – when to say yes, and what to ask for in return.20:52 – 26:38 Mistake #3: Delayed invoices and aging debt — why cash flow is king and how late payments kill growth.26:38 – 29:02 Payment terms, chasing invoices, and the perils of getting pushed to the back of the queue.29:02 – 30:33 Real-world stories from the acting world and invoice misuse.30:33 – 35:20 Solutions: Invoice financing — what it is, how it works, and what to watch out for.35:20 – 36:05 The danger of becoming dependent on invoice finance — “the umbilical cord” problem.36:05 – 37:36 Legal frameworks and industry specifics to watch out for.37:36 – 39:00 Recap of the three biggest pitfalls and final thoughts.39:00 – 39:56 Outro, audience request & how to be a guest on the show.🧠 Key TakeawaysOver-trading sounds like growth but can break your back if you're not prepared.Stay focused: build one strong business before spinning off side projects.Cash flow trumps profit: if you’re not getting paid on time, you’re losing.Invoice financing can help — but know the terms and risks.Charity and “exposure” work have a place — but you need to define your ask.🔗 Resources MentionedThe Lean Startup by Eric RiesUK Government: Invoice Financing InfoQuickBooks (automated invoicing reminders)📬 Contact / Get InvolvedWant to be a guest on the show?Got a story or question you’d like Duncan & James to tackle?📧 [email protected]🎧 Follow Make It Your Business wherever you get your podcasts!