“At the core, coaching authenticity is complicated - some might say impossible. Telling someone to be authentic sounds pretty low calorie, especially to a founder plowing through a list of product and operational goals. But it's important.”
“Be generous with your time and money - it has an amazingly fast payback. Be in the moment with everyone you love - and this frequently means tuning out work completely. And drive slow in parking lots.”
“Developing a good, healthy culture is extremely important at a startup. Culture reflects the essence of a startup's operation because it directly affects the success of a company's hiring practices and overall strategy.”
“Hold at least one all-hands meeting every quarter and, to underscore the startup's team concept, make sure at least one additional executive joins you in leading the meeting.”
“I see many founders waste too much time trying to work their networks and/or ultimately settle for mediocre but available candidates. You will definitely have to interview hard for cultural fit, but the best talent isn't cheap.”
“It's just not possible to be a real partner if you aren't materially participating. I believe even the busiest business owners must drive a carpool, pack a lunch, help with homework, make a breakfast or dinner, and consistently attend school events.”
“It's really hard to break through the clutter and get the attention of the top investors, as they typically only look at deals that come in from a warm, credible referral. There's absolutely nothing more credible than getting an endorsement from a well-known subject matter expert who has already put their own money into your company.”
“One of the rookie mistakes first-time entrepreneurs often make is to be too guarded about their idea - in fact, many will actually spend their first $25,000 on patent lawyers without ever fully vetting their product.”
“One of the stated values at IronPort was 'work/life balance,' but I wasn't living it. I was rarely home. And when I was home, well, let's just say I wasn't particularly helpful or cheery.”
“Part of the magic of a startup is the fear of death. You have only so much money in the bank, and if you don't get to the right milestone before you run out, then the company goes under - it's over.”