Y Combinator recently published a collection of advice from some of their portfolio companies — it was great, but very long.
Here is a summary of the top 11 tips, sorted by frequency:
- learn how to properly hire, manage and fire (and, fire fast) — it’s your core job
- ensure you have a great relationship with co-founders and significant others; deeply think about — and document — how you will handle future scenarios
- define your customer very precisely & really listen to them
- avoid hiring too many people (e.g. interns) or overpriced consultants
- hire and delegate to experienced people; people who are better than you
- avoid distractions; e.g. building a personal brand, meeting with the wrong investors, conferences
- find the best process for making the“right” decisions at your company
- be less adversarial / learn how to take feedback well
- take care of yourself physically and mentally
- address the elephant in the room; don’t be afraid to change course if what you’re doing isn’t working
- worry about money — and learn how to keep track of it
The full article can be found here.