Not understanding the fundamentals of business. This is like any other business - it is all about competitive advantage.
Not understanding the most powerful weapon you can have is . . . . a good idea.
Spending too much time on the technical advantages which don't benefit the end user - like SEO. SEO is fine but people need to realize that good traffic brings good SEO and not the other way around.
PPC - Do you really think buying $1.00 worth of traffic for $0.99 cents in a god busniess model?
Thinking that poker site summaries with banners is content. Those are advertisements - you need content for people to put up with the advertisements.
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