CheatCodes - Overthinking, 13 potentially FATAL entrepreneurial mistakes, how to spend your time
The truth about quitting
"You either quit or keep going. They both hurt."
Which will you regret more?
Quitting before reaching your goal, or the pain it took to get there?
Both hurt, but only one results in achievement and success.
Your choice.
13 Potentially Fatal Mistakes First-Time Entrepreneurs Make.
Over the last 6 years, I've found that there are common mistakes which first-time entrepreneurs always make.
It's like a rite of passage - we've all made them because we didn't know any better.
Here are 13 of the most frequent so that you can avoid them in your business.
Please don't do these.
Don't give out inflated titles to your early hires. They will come back to bite you.
Don't think your product will sell itself. Promote promote promote!
Don't give out advisory shares to anyone without a clear sense of what they bring to the business.
Don't be afraid of having hard conversations. The earlier you have them, the better.
Don't make decisions when you’re emotional. Sleep on it.
Don't forget to celebrate the little wins. They give momentum for the big ones.
Don't assume people are out to get you. Often it’s just an innocent mistake.
Don't discredit the market you’re in. It’s responsible for 50% of your success.
Don't hire people because you want to get the problem sorted quickly. Take the time required to hire the best fit.
Don't equate culture with bean bags and cute sofas. Its about setting the standard and sticking to it.
Don't think everyday in business will be exciting. 90% of it is just repetitive optimisation. Embrace boredom.
Don't take advice from people who haven’t lived the experiences you want.
Don't forget that none of this really matters. Sounds cliché but it really is health > family > wealth.
Reply to this email with the mistake that resonated most with you!
How should you spend your time?
This excerpt is from the book "The 80/20 Principle" by Richard Koch and is an incredibly profound take on time.
After reading this I had just one question - "What is a low-quality way?" - So I made a list for you.
Stressing about things you cannot control.
Being miserable now because you're not already where you want to be.
Living in jealousy of others who have more than us.
Hanging with people who take energy from you, not give you energy.
What other things are a low-quality way to spend your time?
