I've made the mistake of entering a strategic partnership with a company that could not fulfill their commitment. When building partnerships, protect yourself by implementing a thorough due diligence process. You want to ensure that everyone involved can hold up their end of the bargain and that they will be a strong extension of your brand. This is critical for a young company.

More than ever, entrepreneurs need to practice the art of essentialism. There are many things you can be doing to build your brand, attract customers or investors, or build your product. There are more opportunities for networking than ever before. Evaluate your availability and what is essential to your business and personal life, execute the critical, and unapologetically shed everything else.