Another way of looking at this, is that the best companies are almost always mission oriented.
Everyone starting a startup for the first time is scared, and everyone feels like a bit of an imposter.
Great execution towards a terrible idea will get you nowhere.
I think as a rough estimate, you should aim to give about 10% of the company to the first 10 employees.
A board member of mine used to say sales fix everything in a startup, and that is really true.
You can win with the best product, the best price, or the best experience.
Two other things that we hear again and again from our founders, they wish they had done earlier, and that is... simply writing down how you do things and why you do things.
Unfortunately the trick to great execution is to say no a lot.
Startups are very hard no matter what you do; you may as well go after a big opportunity.
Even though plans themselves are worthless, the exercise of planning is very valuable and totally missing in most startups today.
As long as you keep doing the right thing and have the best product, you can beat the bigger company.
You think you have this great idea that everyone's going to come join, but that's not how it works.
Why couldn't it have been done 2 years ago, and why will 2 years in the future be too late?
Stay focused and don't try to do too many things at once. Care about execution quality.
I believe in fighting with investors to reduce the amount of equity they get and then being as generous as you possibly can with employees.
In YC's case, the number one cause of early death for startups is cofounder blowups.
I prefer to invest in a company that's going after a small but rapidly growing market than a big but slow growing one.
One thing I tell startups all the time is that the best way to grow is to make their product better.
... how much time you should be spending on hiring? The answer is 0 or 25 percent.
A lot of people treat choosing their cofounder with even less importance than they put on hiring. Don't do this.
I care much more about the growth rate of the market than it's current size and I also care if there's any reason it's going to top out.
When it comes to starting startups, in many ways, it's easier to start a hard startup than an easy startup.
If you look at successful pivots, they almost always are a pivot into something that the founder wanted. Not a random made up idea.
Be suspicious of any work that is not building product or getting customers.
One thing that founders always underestimate is how hard it is to recruit.
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