photo credit: jonfeinstein
We spend a lot of time going over all of the correct decisions and moves that entrepreneurs should make, but I think we should spend a little time on the things that entrepreneurs shouldn’t do, I believe those are just as important.
OpenForum recently suggested that you shouldn’t worry about your product being perfect. This is never going to happen as perfectionism does not exist. When you feel your product is “good” but maybe not perfect, ship it anyway and see what results you get from it.
Don’t ask people to do something you wouldn’t do. This is the Golden Rule of business. If you wouldn’t fill out ten fields of information and provide a credit card number for a free password, don’t expect your customers too.
Don’t ever hire a family member expecting it to be the best choice you ever made. The likelihood of that situation working out for either of your benefits is around 0%. Stop worrying about the valuation. Your company will either flop or it will make you money. No matter if you have 10% or 40%, it doesn’t really matter either way, because if you’ve made 0$ than 10% of that is still 0$, so in the end take whatever money you have brought in and try to turn it into more.