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Top 10 Rules of Thumb for Startups

Top 10 Rules of Thumb for Startups

In my more than 20 years as a serial entrepreneur and investor, I have seen a few common mistakes among startups and entrepreneurs. Here are some tips to fix those mistakes: 1. Know What You Don’t Know When I visited New Zealand, I found that majority of their small and medium-sized enterprises had no board advisors at all. This is the problem of most startups: they don’t know what they don’t know. Most startups feel that asking for help is a sign of weakness. My advice is to have board advisors (comprised of people from different industries with diverse backgrounds) whom you can engage a couple of hours per week. Likewise, attend quarterly board advisory meetings where you present and account for your accomplishments, plans and goals. Having a board of advisors can help you learn the questions you do not know. 2. Keep People Informed Start monthly newsletters. The ... Read More »

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