Entrepreneur Fundamental
Lessons first-time startup founders can learn:
October 3, 2017
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What can be learnt from HBO’s Silicon Valley TV Serial:
1. Don’t sell immediately

Lesson: Figure out your exit strategy from the get-go and set your goals. Did you build your startup to help people and change the world? Or do you just want to make money? Don’t immediately sell when you get your first big offer.

2. It may not be easy to let a new leader take over

Lesson: A rapid success and expansion may mean looking for outside talent who can help you with your startup’s growing needs. But realize that, in a competitive marketplace, other companies are also looking to bring in leaders with similar skills, and any change in your company’s leadership may involve power struggles and conflicts. So, if your startup needs a new leader, you also need to maintain a shared purpose.

3. A verbal agreement is not a formal deal
Lesson: You cannot rely on verbal agreements. Once you have your eureka moment with your innovative idea, document it, open a Dropbox account, and save your documentation there. If you have partners, all co-founders should sign a thorough agreement that defines the relationship of the founders with each other and include a conflict-resolution clause to avoid conflict.

4. Know how to find a really good programmer

Lesson: It’s said that what often destroys potentially viable startups are bad programmers. But business leaders may not be a good judge of talent and hire whoever seems like a good programmer (with a sterling resume) but actually sucks. The bottom line is don’t compensate employees for ineffectual results or slovenly attitude.

This topic was copied from the below URL  as  I have found it very important for every start-up entrepreneur, I have suffered the same problems:


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