Don't fall in love with your idea.
Consumers only care about their needs. Test multiple ideas and choose the best one.
Solve a real problem.
Focus on a solving a problem that's worth dedicating your whole life to.
Own your ambition.
Venture capitalists don't care about your dreams, be practical.
Work smart.
Optimise everything. Learn when to say no.
You need money to make money.
In a rags to riches story, money still drives the plot from beginning to end.
Hire the A-team.
Never compromise on hiring. A-players recommend other A-players.
Be prepared to fail.
There's no definitive formula to predict success. The best way is to learn from your mistakes.
Hire a smart co-founder.
A start-up requires two pillars – one for business operations, the other for brand development.
Remember “The Planning Fallacy”.
Never underestimate how much time, effort, and money is needed to run your business.
Learn to Delegate.
If you are not good at it, get an expert to do it for you. Offshore and/or outsource, but identify which functions should be retained.
Remember Murphy's Law.
Anything that can go wrong will go wrong.
Don't buy into the hype.
The most expensive option doesn't always mean the best solution.
Be adaptable and fearless.
Have a strong vision, be flexible on details. Go all in.
Don't get cocky.
Unless the money is in the bank, it isn't yours. When you accomplish something, be humble.
Replicate don't imitate.
Look at what your competitors are doing, but don't rip-off an idea.
Find a mentor.
Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary. Steve Jobs
Give back.
Give credit where it is due. Unless your business is completely automated, value your people. Give back to the community that supports your business.
Post a Comment