Tips for 1st-time entrepreneurs:
Talent acquisition is a million times harder than customer acquisition as you scale
You need a strategy as detailed as your customer acquisition strategy, for great acquiring great talent
You need a strategy as detailed as your customer acquisition strategy, for great acquiring great talent
You need ample runway to make hiring and marketing mistakes
The mistake are inevitable so don’t go all in on something unless you have 6 to 12 months of runway
The mistake are inevitable so don’t go all in on something unless you have 6 to 12 months of runway
Reinvesting your profits back into the business is the biggest growth hack of all time
Schedule time off regularly because if you don’t you will burn out and not be productive
Always give potential hires a project as a test
Seeing the speed and quality of someone’s work will tell you way more about what they will be like as an employee than a resume or interview
Seeing the speed and quality of someone’s work will tell you way more about what they will be like as an employee than a resume or interview
Keeping at minimum 3 months of expenses in the bank is a must
You have to remove emotion from your hiring and firing decisions
Judge people on merit and execution, not if they are a “good person” or “everyone likes them”
Judge people on merit and execution, not if they are a “good person” or “everyone likes them”
Build a checklist for every major process and system you have, make your team follow it, and work it into your work flow
Don’t penny pinch when it comes to technology, choose the better tech if it will help but only cost you an extra $50 or $100 a month
Get a QuickBooks account from day 1, it will make your bookkeeping and taxes a million times easier
Have a weekly or monthly newsletter in the early days to update your friends, family, & early users on your progress
This helps you journal and keep momentum going among your initially community
This helps you journal and keep momentum going among your initially community
I have a lot more where these came from but I saved the best for last:
There are a few silver bullets you can use to grow faster which I cover in my Growth Hacks Weekly Newsletter here:
growthhacksweekly.com
growthhacksweekly.com
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