David Greenberg, founder and CEO of the moving assistance service Updater, counts down the three worst mistakes he made starting out in business in an article for Entrepreneur. Heed the warnings.
Number one, do not hire unqualified employees. In the beginning, when you are just looking to get some work off your shoulders, you might think anyone is qualified to help—wrong. Even if it costs more, you need to hire people who are just plain good. Number two, going it alone starting a business is hard. Greenberg strongly recommends finding a cofounder who complements your strengths and weaknesses, so that you have twice the experience to draw on. And third, instead of spending a lot of money to try and protect your ideas, do just the opposite and share the ideas instead. You will quickly get the vital feedback on how to perfect the ideas you have. And besides, a couple dozen people have probably already had your idea. The difference lies in the execution. You can read the full article here: http://www.entrepreneur.com/article/243630