31–40 of 256 posts
All business are different, there is not one road to success, there are as many as successful companies. As a result non-contextual business advice is usually useless.
In B2B Enterprise also. Most companies fails not because they don't have a good product, but because they don't sell well enough
1. Few business problems can't be solved by more sales.
2. Cut expenses when the storm is approaching, not when you're soaking wet.
3. You can't eat assets or inventory. Don't get emotional about what you own, only about your cash balances.
4. Banks are your friend only when you don't need them. Corollary: One bank for borrowing, one for cash balance accounts.
5. 70 completed calls per week. Not emails, calls. You can do it, start now.
6. Don't be an asshole: https://en.wikipedia.org/wiki/The_No_Asshole_Rule
7. Hire and retain "T-shaped" people. In difficult times those employees execute across multiple domains.
8. Client, vendor or employee drama is quicksand. You assist with a stick or a rope, you don't jump in with them.
9. Don't romanticize work & try to avoid romance getting in the way of work.
10. You're only as happy as your unhappiest child. Prioritize good parenting over work. Good parenting = SOS: Self awareness, objectivity, selflessness.
11. Get a prenup. No, really, do get one.
12. Pay yourself according to a financial model that prioritizes healthy business cash balances, and not your personal desires.
The venn diagram of tech skills and a non-tech business is where the opportunities are. This applies to many other unrelated skills.
As a dev i've always known my hunch when it comes to compromises. Never let the business team ruin your experience building cool rock-solid code. I'd rather resign than to compromise anymore. I know there should be a sweet spot between "perfect" and "working". Even a junior can pull-off a "working" app. But when it starts to scale, all those hasty bad decisions will bite your ass. Never skip planning, plan as long as…
if a component is core to your strategy or product then by all means make sure it's rock solid.
but if you're iterating on your product and you don't know which feature is going to be used then don't waste time perfecting it.
we put together in days products that we shutdown in 3 months, we would have never been able to move at such speed if we took our time plan, design, develop ...
and business people do come with a lot of things that go nowhere (depending on your company sales culture of course and product maturity)
Here's 30 years of experience for you: 1. Few business problems can't be solved by more sales. 2. Cut expenses when the storm is approaching, not when you're soaking wet. 3. You can't eat assets or inventory. Don't get emotional about what you own, only about your cash balances. 4. Banks are your friend only when you don't need them. Corollary: One bank for borrowing, one for cash balance accounts. 5. 70 completed ca…
Maybe this is actually obvious, but it's still a common mistake in startups so I'll say it - you don't have to believe your product is good to start selling; you just have to be better than not having the product. You don't even have to believe it's the best, or believe it's complete, or even like it . People will happily give you money for anything that makes their pain point slightly less painful.
For consumer products, your product must cut through the clutter. For business products, it must exceed the hassles of buying (and it usually has to be a top 1-3 priority for the buyer).
Although absolutely start selling before you get there. For the feedback, not revenue.
Here's 30 years of experience for you: 1. Few business problems can't be solved by more sales. 2. Cut expenses when the storm is approaching, not when you're soaking wet. 3. You can't eat assets or inventory. Don't get emotional about what you own, only about your cash balances. 4. Banks are your friend only when you don't need them. Corollary: One bank for borrowing, one for cash balance accounts. 5. 70 completed ca…
Are you using parenting metaphorically in #10?
Your children - their physical wellbeing, emotional and mental health, behaviour - have a profound impact on you that, for good or for ill, will absolutely colour your own behaviour and decision-making at work.