16. I don't have My idea is the
any greatest
competition
The
competition
sucks
My domain
Once the idea is expertise is
launched, unparalleled
customers will
Hurry or you'll
miss the bus
17. 10 hiring mistakes made by Start-up businesses
1. Hiring too many employees because of miscalculated revenues & underestimated cost of
hiring.
2. Taking on board someone just because you known them —family, friends, wife. They'd
expect different treatment.
3. Hiring a jack-of-all-trades instead of specialists for a particular job. Startups need
specialists in specific roles.
4. Not having clarity on what you are hiring for. Startups should clearly define roles for new
hires.
5. Not knowing if you are looking for a follower or a leader. Every business needs a mix of
both.
6. Giving someone equity just because you cannot pay a hefty salary. Then you get a partner
not an employee.
7. Hiring just to help someone out.
8. Emphasizing too much on cost per hire rather than on quality of hire.
31. 10 thoughts for the Entrepreneur
•If you live by the sword, get ready to die by bullets.
•There are no traffic jams in the extra mile you go for the customer.
•Don’t underestimate customer resistance to behavior change.
•Price the customer, not the product.
•Your customer’s perception is your reality.
•If you torture data enough, it will confess.
•Customer loyalty can be bought; brand loyalty must be built.
•Price pressure is an effect, not a cause.
•Profits vs. Growth: Where do angels fear to tread?