Beyond all the management theory you will learn in business school, the reality is that starting a new enterprise is incredibly challenging and is never undertaken in ideal circumstances.
Here’s what can set you apart:
- Make sure your business idea solves one problem very effectively. Solving that problem is the connection between your technical innovation and the successful exploitation of a market. As your company grows you will have to adjust your plan to address the evolving competitive landscape and maturation of your market. But at the early stages, understand the benefits of a focus on simplicity.
- Your passion is your greatest resource because it will drive you to excel and it will be the source of inspiration for those you lead. Be at peace with your obsession even when it might seem crazy to be up coding at 3:00 a.m. on a Friday night.
- Understand that these are the good old days when there was nowhere to go but up. Bring on a small number of trusted advisors and be open to the advice you’ve asked them to give. Hire the smartest, most driven people you can find and give them the power and incentives to succeed.
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“Avoid people with the all the answers. Hang out with the ones that have the best questions.”