Advice For A Young First-Time Start-Up CEO

July 23, 2014 Leave a comment

wealthymatters 1.   Your team is everything.
2.   Solve a problem you are passionate about.
3.   Never outsource your core competency.
4.   Be c̶h̶e̶a̶p̶ lean but don’t be afraid to spend.
5.   Build a brand, not a product.
6.   Never eat lunch alone. Always be closing.
7.   Ideas are worth sh*t. Execution is key.
8.   Don’t take momentum for granted.
9.   Learn to monetize from the get-go.
10. Set S.M.A.R.T. goals. Link
11. Focus. It’s easy to get carried away with multiple projects.
12. Stay uncomfortable.
13. Be metrics driven. You can’t improve what you can’t measure.
14. Utilize social media to its fullest.
15. Consistently seek out constructive feedback.
16. Know your competitive advantage and stay obsessed over your competitors and the industry.
17. Be a thought leader in the space.
18. Move quickly.
19. Talk is cheap. Deliver instead.
20. Focus on customer service.
21. Make something that people want.
22. Place a premium on aptitude versus experience.
23. Learn to say no (respectfully).
24. Trust your gut.
25. If you can’t gain traction in one year, pivot.
26. Hire people smarter than you. Don’t tell them that however. 🙂
27. As a founder, you set the tone for others. Don’t forget that.
28. Advisory boards suck. Instead, find 1 or 2 people who you respect greatly and have been there before. Compensate them generously for their time and learn as much as you can from them.
29. Make deliberate decisions.
30. Don’t lose sight of close friends and family. You don’t need to be a hermit just because you work a lot.
31. Don’t micro-manage.
32. Start with “why?” [See Simon Sinek: How great leaders inspire action]
33. Bring out the greatness in those around you.
34. It’s better to own a smaller piece of a bigger pie than a bigger piece of a smaller pie.
35. Be humble.
36. Utilize your calendar and tasks to the max.
37. Tackle your most daunting tasks in the morning. Save the easier stuff for later.
38. Read often.
39. Workout at least 4 times a week. Body and mind are one. Oh yeah, and get your sleep too.
40. Be authentic and transparent.
41. You will hit hurdles, push through and get ready for the next. Stay optimistic.
42. Ask questions.
43. Nobody should have a personal office. Open floor plans allow best for collaboration.
44. You have 2 ears and 1 mouth. You should listen more than you talk.
45. Culture is crucial. Your employees should want to stay late and hangout.
46. Sellvalue, not products.
47. Always have an attorney glance over any legal documents. Document everything so there is a record for all parties.
48. There is no such thing a part time entrepreneur. That’s a ‘wantrepreneur’.
49. Learn to move on if you’ve exhausted all efforts. Be honest with yourself.
50. Have fun!