Startup Words of Wisdom, #2

from the “fastest growing” Serial Entrepreneurs in INC Magazine, Sept 2010

Compiled by Peter/CXO Wiz4biz 6/14

7. “Hire slowly & carefully”, someone who has at least a little experience, but more importantly, a lot of passion for your Vision.

8. “Fire fast”, to cut out the virus that is not contributing to your goals, and may be demoralizing your other people.

9. “It’s easier to steer something that’s moving”, so start rolling slowly and adjust as you go – picking up speed, as you as you get your system running more smoothly.

10. Don’t forget that “Systems run the Company; People run the Systems”, so you can be in control.

11. “Starting a Business can take 2-4x as much work as you expect”, but can be 10x more rewarding than you expect.

12. “There’s always a Solution to a Problem”. You just have to get more creative and try a new approach and/or ask others for advice.

13. “You cant do it all yourself”, so get help – Delegate, get a Consultant, Out-Source help, as needed.

14. “If you don’t Monitor your Cash Flow”, it could dry up, before you know it.

15. “You don’t lose, till you give up”. Hopefully you’ll learn something and do it better & better – till you get it right. So keep trying, till you make your breakthrough.

16. Killer stages of a Business
Founding: What you don’t know.
Expansion: What you think you know.
Maturity: Not turning the Reins over to those more qualified – who “really” know!

17. Don’t try to find Funding, till you have a “proven” Product or Service – that works smoothly – and has been “validated” by accelerating Sales to Customers – that are really impressed – and tell others.
(an Original by Mr Wiz4biz, from working with > 40 Startups)

Comments: Is there any Advice you could you could give Flounders, er Founders of Startups?