- People are more important than strategy: The right people with the right talents can formulate great ideas.
- Know what customers really want: It is important to recognize what customers are looking for.
- Market size is everything: It is important to forecast your potential market and understand the size of your business.
- Be the customer: Put yourself in the shoes of the customer to understand the needs of the business.
- Don't chase bad revenue: Be wary of taking on just anyone's money, as some customers can be bad for business.
- Understand your culture: Make sure to hire people that share the values of the company.
- Timing is everything: The success of a business can depend on the timing of the launch.
- Think about growth: Consider what you would do if your business suddenly took off and have a plan for growth.