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Startup Lessons

Here are a few startup lessons from a fellow entrepreneur.

  1. Make no assumptions when it comes to roles and responsibilities.
  2. Communication between partners is mandatory. And you cannot communicate with someone who is not communicating with you.
  3. Decisions aren’t decisions if you have to keep making them. Set on the course and stick to it. If you keep talking about things that have already been decided, nothing will ever get done.
  4. When someone says one thing, but acts in a contradictory way, you have a choice between believing their words or believing their deeds. Believe their deeds.
  5. Never let anyone tell you what you want. When someone says, “You don’t want that,” what they really mean is, “I don’t want you to have that.”
  6. Don’t stay where you’re not wanted, respected, or happy. Even if it’s your company.

And a few more I would like to add from my experience.

  1. There is no sense in beating a dead horse. If you feel it ain’t going no where, then it probably isn’t.
  2. If it don’t feel like it’s your company anymore, then it really isn’t. Yes, what’s on paper does matter.
  3. You’re smarter than what you give yourself credit for and you’re definitely smarter than what they think.
  4. Your opportunity cost is usually higher than your startup cost. Do your math carefully.
  5. You’re not a failure if you call it quits, you’re actually more of a failure if you don’t know when to quit.