10 Dos and Don'ts for Online Retail Startups

9. Don't focus on where you're going to be in five years. You need to be aware and have a plan, but it shouldn't be your immediate focus, Neblett said. The vast majority of startups don't have the capital to fall back on, so for them no time is more important than the present.

10. Don't forget to hedge your bets. Constantly be innovating and seeking out new streams of revenue, Neblett advised. Bootstrappers don't have the resources to fall back on if their sole source of revenue dries up.