It’s going to happen. Mistakes will inevitably be made in those first few months as a startup. It takes a while when starting anything new to learn what you should be doing and what you shouldn’t.
That’s why it’s always wise to let others do that for you, then heed their advice.
Daniel Ek is co-founder and CEO of Spotify, as well as a Swedish entrepreneur and technologist. In this week’s video, he offers the top three insights he wish he had known as a newcomer to the startup scene:
- Don’t say yes to everything. As Ek says, be obsessed with a couple of things. Throw yourself fully into these. It’s common for entrepreneurs to take on too much, and thus drown and mitigate their efforts. Don’t be guilty of this.
- Hire fast, fire fast. It seems counterintuitive, but you need to make sure the team you are working with is on the same page with you, growing at the same rate you are. If not, decisions have to made quickly and decisively if your company is going to survive.
- Don’t overpromise. If you aren’t ready to release or add new features, don’t make promises that you will! Nothing will lose your company credibility faster than overpromising.
Watch the full video below to get the full scoop!