I've been working in startups for almost a decade now. In reviewing the success and challenges of the startups I've worked for, its often entrepreneurs that were previously successful that move on to their next startup. I believe there are four issues that startups (and entrepreneurs) must avoid if they wish to survive.
The Four Horsemen of the Startup:
- Greed – I can squeeze out more money, sooner.
- Hubris – I will be the reason for our future success.
- Ignorance – I don't need to listen, I know better.
- Dominance – I know better, I'll tell you how to do it.
A startup's success isn't built on “I”, nor is it built on ideas and money. A startup's success is built by the incredible talent of those closest to the client, the prospect, or the problem.
It takes special employees to move at the pace that a startup requires. You need a combination of lifters and pushers… employees who hold everything up and employees who push people forward.
I'm blessed to be surrounded with some incredibly talented employees right now at work. Seeing progress in hours and days rather than months and years would be inspiring to any large corporation.