- Hire the absolute best people you possibly can
- Find a couple trusted, experienced advisors/mentors.
- Start simply, prioritize, and maintain focus
- When fundraising, ask people for advice, not money
- Create several financial models and options
- Get hold of your financials and legals
- Build the team. Focus on key management team hires and assume you’re going to make a few mistakes
- Build a Board and focus on on people who a) you can trust, b) have a track record and understand the space(s) you are playing in, c) can bring ideas on talent, financing and growth (sales, product, etc.), and d) understand the venture and growth financing landscape.
- Make sure your option and equity agreements are rock solid, and your employment agreement is fair and competitive with what an investor would expect.
- Your choice of partners and investors should be thought of as permanent and are therefore the most important two decisions you make.
- Don’t be afraid to have tough conversations. Its the best thing for the business, your employees and you
- Build a culture you and your employees will be proud of
- Take advantage of conferences and events that can expose your product or service to your target audience
- Most first time founding CEOs want to do everything and want to be involved in everything
- Trust your team but constantly measure them on goals
- Nothing matters more than the people and the culture, get it right and you are on the right track
- If you are failing, fail fast and move on
- Be attentive of opportunities and make the most of them
- Be agile and keep your eyes on market trends.
- Check out the library by Y Combinator http://ycombinator.com/lib.html
- listen to customers and iterate where necessary
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