Gust

DECEMBER 1, 2013

The result is a startup with an exorbitant burn rate, and a very unhappy entrepreneur. In a big company, you get used to having an IT team around configure your computer, a personnel specialist for hiring and firing, and a marketing team for strategy. Manage a team rather than work with a team. There is a difference.

Entrepreneur 182

Entrepreneur Burn Rate Salary Lean 182

Gust

DECEMBER 8, 2013

My advice to founders out there is to not volunteer too much, but be open and honest in the face of direct questions like the following: What is your burn rate and runway today? They should be asking to speak to you if you are a potential investor or a superstar hire. Who is a real customer that I can talk to?

Due Diligence 174

Due Diligence Sweat Equity Intellectual Property Burn Rate 174

Gust

DECEMBER 29, 2013

Be quick to hire and slow to fire. Hiring after one interview is like hopping a red-eye to Vegas to get married after one date. On the other end of the process, don’t hesitate to pull the trigger fast when a new hire isn’t working, but don’t forget to be human and follow all the steps. Do not delegate this task.

Startup 183

Startup Intellectual Property LLC Burn Rate 183