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3 BIG MISTAKES YOU’LL MAKE AS A FIRST-TIME ENTREPRENEUR

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3 BIG MISTAKES YOU’LL MAKE AS A FIRST-TIME ENTREPRENEUR

Don’t hire unqualified early employees.

My advice to you: chat with more experienced entrepreneurs and people currently doing the job that you’re hiring for at another startup to properly understand the qualifications for the role. Talk to anyone who will give you advice. They’ll help you identify the right skill sets and help you set key performance indicators and deliverables for the role, allowing you to hire more effectively and gain proper expectations.

Also, even the earliest employees are helping set company culture. Your early employees must have the right skills, but equally important they must have the right personality and attitude to help you build the company and environment that you want to create.

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Find a co-founder.

Going at it alone with no experience is difficult on all fronts. When it comes to startups, it’s true that two heads are better than one. Don’t start your company alone! While owning 100 percent rather than 50 or 33 percent may seem appealing, you’re probably increasing your likelihood of owning 100 percent of nothing.

Don’t protect your ideas — share them.

NCBA

This is where a lot of guys get it all wrong, too. They spend valuable time and money working to protect my ideas and strategies for implementation, thinking someone might try to copy them.

What I know now is ideas aren’t as valuable as they seem. Rather, it’s the ability to execute that’s valuable. No one is going to steal your idea because no one is as passionate about reinventing the moving process. In fact, hundreds of people probably already have your idea, but couldn’t or wouldn’t execute it.

source:entrepreneur

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