The Best Single Piece Of Advice For New Entrepreneurs


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Every entrepreneur has resources they turn to for advice. Some learn from publications, others from mentors or investors. But one of the best sources of entrepreneurship advice is fellow entrepreneurs – the people who have been there in the trenches, have started their own businesses, and can offer advice on what not to do based on their own missteps.From reading up on customer development to building a great team, every serial entrepreneur has one piece of advice that they offer to new entrepreneurs to help them on their way. Six serial entrepreneurs answered the question:

What’s the best piece of advice you have for an early early-stage entrepreneur?

Get started now and get something out there in people’s hands as fast as you can. Lean startup principles and customer development can help. Read up on those things and start practicing them. You won’t regret it.

– Hiten Shah, Founder of KISSmetrics. Link to original question.

Answer the questions: Why me? Why now? Why this? Entrepreneurs get bolloxed up in a billion other things, when those are the questions investors are asking themselves as they listen to the pitch.

Paul Kedrosky, investor and entrepreneur. Link to original question.

1) Be very aware of your time and how you spend it
2) Make sure to take time to relax. Your efficiency increases after taking breaks (of all lengths).
3) I have heard this so many times but it is so true: “Hire Slow Fire Fast!”
4) Make time to meet amazing people —– great things will always happen; if not today then later

Arjun Arora, Founder of Link to original question.

There are only two truths in the land of startups:

1) Startups are hard. Really, really hard.

2) Nobody actually knows anything

Though I could add a third:

3) VCs will always pay for meals. They have to. So make sure to order something expensive — but not the most expensive thing. That’s just tacky.

Lane Becker, co-founder of GetSatisfaction. Link to original question.

Be honest and open about your successes as well as struggles. And communicate consistently without the flowery marketing lingo we’re all sick of hearing. But most of all, create a product or service your users can love.

Ben Huh, founder of the Cheezburger network. Link to original question.

Talk to everyone you can about what you are doing and ask for help. Don’t be guarded with your idea. You need input from everyday people as well as more experienced entrepreneurs who can help point you in the right direction.

Corey Kossack, managing partner at Game Change Ventures. Link to original question.