What’s the best way to hire your first employee?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
DIY vs Delegate – AVC

One suggestion I frequently make is to find a “utility infielder” for your first business hire. This is someone who can do a lot of things well but nothing spectacularly well. This is often someone who has done this role before in a startup and likes working in companies that are between five and fifty employees. There are people who make a career out of this job.

What’s the best way to get more customers for your product?

Paul Graham (Co-Founder & Partner at Y Combinator)
Default Alive or Default Dead?

Founders tell themselves they need to hire in order to grow. In fact the large staffs of successful startups are probably more the effect of growth than the cause. And partly because when founders have slow growth they don’t want to face what is usually the real reason: the product is not appealing enough.

What’s the best way to form your initial team?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Similarities Between Building and Scaling a Product and a Company – AVC

Putting together the initial team, creating the culture, instilling the mission and values into the team are all like designing and building the initial product. It is largely about injecting your ideas, values, and passion into the team. You do that by selecting the people carefully and then working hard to get them aligned around your vision and mission. Putting a product into the market and building your initial team are largely about realizin… (read more)

What’s the best way to hire?

Sam Altman (President at Y Combinator)
Default Alive or Default Dead?

It’s roughly correct to say that YC’s most successful companies have never been the fastest to hire, and one of the marks of a great founder is being able to resist this urge [to hire]

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Some Thoughts On Workplace Diversity – AVC

Diversity is a good thing for many reasons. It opens up a company to a multiplicity of ideas, opinions, and connections to the market. And the reasons for this lack of diversity stem from two primary (and related and self reinforcing) things, not enough women and underrepresented minorities setting themselves early enough on a career path in tech and societal biases against tech as a “proper career” for women and underrepresented minorities. The… (read more)

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
MBA Mondays: Culture And Fit – AVC

Don’t hire a token woman. Hire as many women as you can. Don’t hire a token person from another country. Hire from all around the world (and become an expert in our bullshit immigration system). Don’t hire a token “gray haired” type. Hire up and down the age and experience spectrum.

Stephen Cohen (Co-founder and EVP at Palantir Technologies)
Peter Thiel’s CS183: Startup – Class 5 Notes Essay

[in a Q&A] Question: What if engineers are in love with something else, but you think they’d fall in love with your company if they were to join you? Stephen Cohen: Reframe that question in a marriage context. Don’t you think that would make for a higher than normal rate of divorce?

Stephen Cohen (Co-founder and EVP at Palantir Technologies)
Peter Thiel’s CS183: Startup – Class 5 Notes Essay

There is probably some sum of money you could pay to any engineer to work at Palantir and give it their all for one year. But there is no sum of money that you could pay any engineer to go all-out for ten years. Humans can’t muster that amount of sustained focus and energy if they don’t love what they’re doing. The folks who fall in love aren’t asking details about salary, trying to extract every penny.

Sam Altman (President at Y Combinator)
How to hire – Sam Altman

Spend more time on it. Get your hands dirty. Look for smart, effective people. Have people audition for roles instead of interviewing for them. Trust your gut. Hire people you like. Don’t compromise. Fire fast. Don’t hire [until you are ready].

Paul Graham (Co-Founder & Partner at Y Combinator)
Default Alive or Default Dead?

Don’t hire too fast. Hiring too fast is by far the biggest killer of startups that raise money

Mark Suster (Managing Partner at Upfront Ventures)
Do Less. More. | Bothsides of the Table

Hire fewer employees until you’re bursting at the seems with work for the ones you have.

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

A great candidate should be able to explain and deconstruct how they solve a specific issue at an excruciatingly low level. This is actually Elon Musk’s Litmus Test for hiring and this is something we found of service to us quite well. The other thing we learned over time is we tested everyone and it worked really well. Practice Fusion always had a top-25 rank culture in the Valley. When a developer would come in, we would effectively let them wr… (read more)

Gautam Mukunda (Assistant Professor at Harvard Business School)
Great Leaders Don’t Need Experience

It’s the outsiders without lots of experience, who perform the very best. Those people are also more likely to crash and burn. [Outside] leaders are high risk, high reward

Ron Conway (Founder & Co-Managing Partner @ SV Angel)
Ron Conway, Mike Maples Jr. – Angel Investing Revealed by Stanford eCorner | Free Listening on SoundCloud

I’m huge on backdoor references

Seth Godin (Founder at Yoyodyne Entertainment)
Seth’s Blog: The top things

Every job candidate ought to be able to outline the five lessons learned from the leaders they’ve worked with previously. Those unwilling or unable to do so are not paying attention.
The number one thing to steal from your competitors: Wisdom.

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Hiring Executives: If You’ve Never Done the Job, How Do You Hire Somebody Good? – Ben’s Blog

Write down the strengths you want and the weaknesses that you are willing to tolerate. The first step is to write down what you want. In order to ensure completeness, I find it useful to include criteria from the following sub-divisions when hiring executives: Will the executive be world class at running the function? Is the executive outstanding operationally? Will the executive make a major contribution to the strategic direction of the company… (read more)

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Hiring Executives: If You’ve Never Done the Job, How Do You Hire Somebody Good? – Ben’s Blog

By writing down questions that test for what you want, you will get to a level of specificity that will be extremely difficult to achieve otherwise. As examples, below I include questions that I wrote for running the enterprise sales function and operational excellence.
Questions for head of enterprise sales force: Is she smart enough? Can she effectively pitch me on her current company?
How articulate is she on the company and market opportuni… (read more)

What’s the best way to hire your first employee?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
DIY vs Delegate – AVC

One suggestion I frequently make is to find a “utility infielder” for your first business hire. This is someone who can do a lot of things well but nothing spectacularly well. This is often someone who has done this role before in a startup and likes working in companies that are between five and fifty employees. There are people who make a career out of this job.

Sam Altman (President at Y Combinator)
Startup Playbook

My first piece of advice about hiring is don’t do it. The most successful companies we’veworked with at YC have waited a relatively long time to start hiring employees. Employees are expensive. Employees add organizational complexity and communication overhead.

What’s the best way to get more customers for your product?

David Jackson (Founder, Seeking Alpha)
The three steps to building a great company, and why most startups fail on the first step | A Founder’s Notebook

Why do we move prematurely from “build a product people love” to growth? (i) It’s easier to measure user or revenue growth than it is to measure how much users love your product. (ii) Since sustainable growth is impossible without a successful product, growth metrics assume product success; so we think we can measure product success by measuring growth. (iii) Growth is the true measure of startup success, and entrepreneurs (and particularly VCs) … (read more)

David Jackson (Founder, Seeking Alpha)
If you have low retention, don’t scale and keep your costs low | A Founder’s Notebook

If you have low 90 day retention, then you don’t have product-market fit. But 90 day retention might not be sufficient on its own to demonstrate product-market fit. Consider also user engagement, your net promoter score, whether your product is liked or loved, and the ease of closing sales.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Growth vs Retention – AVC

It’s hard to grow if you are churning your users. You might think you have product market fit and so you scale up your hiring, your marketing, your sales, and your capital raising and spending. But if you can’t retain a healthy percentage of your users past ninety days, you don’t have product market fit yet and all the investment you make in your business is just money down the drain. So focus first on retention, then scale.

Jason Lemkin (Managing Director at Storm Ventures, SaaStr.com)
Jason Lemkin: The Right Metrics For Your SaaS Startup | InsightSquared

Overinvest in customer success – that’s my #1 growth hack. That doesn’t get you to your first 10 or 20 or 100 customers, but that’s the best way to turn those 100 customers into 1,000.

Josh Elman (Partner at Greylock Partners)
Building your growth model and Ladder of Engagement — Medium

Purpose: What is the core purpose of the product? Users: Who will care about that core purpose? Inception: How can I get people to hear about this product for this purpose? Adoption: What does someone need to do to get the product to fulfill this purpose for them? Habit: How frequently should the person use the product, and how can we get them to adopt the habit?

David Jackson (Founder, Seeking Alpha)
Sustainable growth vs. growth hacking | A Founder’s Notebook

Most people think about growth in terms of Acquisition and Activation: “How many signups and activations have we had?” “How can we get more signups and activations?” But they should focus on Retention and Referral: “How can I retain an insanely high percentage of my users?” (= product-market fit); “How can I get them to refer their contacts to my product?” (= virality)

Paul Graham (Co-Founder & Partner at Y Combinator)
Default Alive or Default Dead?

In practice there is surprisingly little connection between how much a startup spends and how fast it grows. When a startup grows fast it’s usually because the product hits a nerve, in the sense of hitting some big need straight on.

David Cancel (CEO, Co-Founder at Drift)
3 Warning Signs That Your Product Sucks

If you repeatedly hear any of the following comments, chances are you are not solving a critical problem [for your customer]: “If you made your app easier to use I would start using it. ” “I’m really busy right now but I’ll start using your app soon. ” “If your app was cheaper I would start using it. “

David Jackson (Founder, Seeking Alpha)
Sustainable growth vs. growth hacking | A Founder’s Notebook

If your growth is all based on hacks, then your growth is a function of how much effort you can keep putting into these hacks. If your growth, which is a derivative of customer base, is itself a function of your customer base, you will grow exponentially. And that growth curve comes without you having to spend money.

Seth Godin (Founder at Yoyodyne Entertainment)
Seth’s Blog: Word of mouse

…at the heart of real growth is a simple idea: People decide to tell other people.

Andy Johns (Current VP of Growth at Wealthfront. Formerly growth at Facebook, Twitter, Quora. Ex-EIR Greylock)
Real Engines Of Growth Have Nothing To Do With Growth Hacking | TechCrunch

Understand where your success is coming from today and double down on what is already working. If these channels are working for you without any real effort on your part, then there are huge opportunities to expand on them.

Andy Johns (Current VP of Growth at Wealthfront. Formerly growth at Facebook, Twitter, Quora. Ex-EIR Greylock)
Real Engines Of Growth Have Nothing To Do With Growth Hacking | TechCrunch

Real growth is about finding and removing friction. The opportunities to eliminate friction are usually huge… they can take years to fully uncover.

David Jackson (Founder, Seeking Alpha)
Andy Johns on how to build a winning product | A Founder’s Notebook

Be clear about your target user. Force yourself to articulate your value proposition. Double down on what’s working by removing frictions.

David Jackson (Founder, Seeking Alpha)
The three steps to building a great company, and why most startups fail on the first step | A Founder’s Notebook

In my experience, the most common fatal error made by entrepreneurs (often encouraged by their VCs) is to focus insufficiently on building a product users love. We move from core product development to growth — prematurely. This is a mistake we’ve made numerous times in Seeking Alpha.

David Sacks (CEO at Zenefits)
New Sales Models – David Sacks, Founder and CEO of Yammer – YouTube

You have to innovate on distribution, not just product. Do you have a viral strategy? Do you have a platform strategy? Do you have an embed strategy? At PayPal, we had a viral strategy for acquisition through email. We bootstrapped off the eBay platform, and we embedded PayPal logos on eBay auctions.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Winback Campaigns vs New Customer Acquisition – AVC

As mobile becomes a more difficult environment to grow in (maturing market, more competition, growing dominance of the leaders), we see companies spending more and more money on new customer acquisition. While that is necessary, it is not likely the most capital efficient way to grow. Winning back churned out users can be a lot more cost effective if done right.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Retention – AVC

You can email or spam in some other way your inactive users and that might work. But what you do once they come back is way more important. You have to figure out how to make the experience better than it was when they used it previously. Some of that will likely be that the product is much better because your and your team have improved it a lot. But some of that should be an engaging experience that somehow they did not get before.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Fallacy Of Zero Sum Game Thinking – AVC

The cool thing about these marketplaces is that the sellers (or project creators in Kickstarter’s case) are the primary marketing engine. Sellers bring the first time buyers. And then many of them stick around and transact again and again, often with sellers other than the one that brought them in the first place. It is a commons where everyone (or most everyone) benefits from the expansion of the marketplace.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Search Vs Social – AVC

At some point, I became convinced that websites would eventually see more acquisition traffic coming from social than they were seeing from search, which was the king dog of Internet traffic at the time. It was a hotly debated issue but, again maybe because of how long we were on Twitter, I was convinced social would be king some day. It’s kind of funny to think that we wondered and debated about such things back in 2008 and 2009. It’s not a deba… (read more)


Fred Wilson (Co-Founder and Partner at Union Square Ventures)
OccupyAppStore – AVC

“”We can’t figure out how to get on the leaderboards. The app stores aren’t working for us as a distribution channel.””
To which I replied “”All the app stores use a leaderboard model which makes the rich richer and everyone else poorer. We are in the 99%, wishing we were in the 1%.””

Seth Godin (Founder at Yoyodyne Entertainment)
Seth’s Blog: “Our biggest problem is awareness”

If your startup, your non-profit or your event is suffering because of a lack of awareness, the solution isn’t to figure out some way to get more hype, more publicity or more traffic. …the solution lies in re-organizing your systems, in re-creating your product or service so that it becomes worth talking about…you can dramatically impact the ‘more awareness’ problem by investing heavily in a funnel that doesn’t leak, in a story that’s worth s… (read more)

Sam Altman (President at Y Combinator)
Startup Playbook

Ask your [power user and really good] customers where you can find more people like them.

Rob Go (Co-Founder and Partner at NextView Ventures)
Very Basic Startup Marketing – ROBGO.ORG

The best marketing is customer success. That’s why I think it’s incredibly important that the functions of product and marketing not be thought of as two silos. The job is not done when you’ve gotten someone to pay. It is done when you have delighted a customer to the point that they can’t help but tell others about you.

Rob Go (Co-Founder and Partner at NextView Ventures)
Ain’t Nothing Like The Real Thing – ROBGO.ORG

I’ve been on a bit of a quiet campaign to meet a bunch of really strong user-acquisition folks at different startups in Boston and New York. One thing that is surprising is that many of these people have limited marketing experience. What they do have is a highly analytical background and a mentality around experimentation. On the flip side, more experienced marketers often enter a startup setting wanting to employ an older playbook to stick to t… (read more)

Sam Altman (President at Y Combinator)
Startup Playbook

Experiment with different user acquisition methods like SEO/SEM, ads, mailings, etc. , but try to repay your customer acquisition cost (CAC) in 3 months.

Avrom Gilbert (COO Seeking Alpha)
Israel’s Subscription Challenge

It’s likely that at some point you will reach a point with your customer acquisition cost where it will be hard to improve it significantly. However, if you keep improving your product then your lifetime user value can keep growing indefinitely, which keeps growing your net lifetime user value. This in turn means that you can choose to increase profit or, more likely, spend more to take more market share (even at the risk of increasing your custo… (read more)

Tomasz Tunguz (Partner at Redpoint Ventures)
How Customer Success Meaningfully Reduces Cost of Customer Acquisition

When discussing customer success for SaaS startups, the conversation focuses mostly on retaining customers and reducing churn. These are two fantastic benefits with meaningful return-on-investment. But great customer success organizations can meaningfully impact another critical part of the customer lifecycle, customer acquisition, by catalyzing evangelists to refer new customers.

Sam Altman (President at Y Combinator)
Premature optimization – Sam Altman

The most sustainable (and cheapest) kind of growth is word-of-mouth growth. It’s dangerous to spend all your mental energy on incremental improvements when what you really need is a step change.

Sam Altman (President at Y Combinator)
Startup Playbook

If you have a free product, don’t plan to grow by buying users. that’s really hard for ad-supported businesses. You need to make something people share with their friends.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Mobile Downturn (continued) – AVC

So if you want to launch a new consumer mobile app, what do you do? The best answer I have heard to that question came at breakfast yesterday with an entrepreneur. He said he plans to build mobile web experiences that can go viral and build adoption of his product and use that as a funnel to drive adoption, over time, to his native apps. I’ve seen that work.

Sachin Rekhi (Group Product Manager at LinkedIn)
How to Find Your Ideal Customer | Sachin Rekhi

Take an inward look at your existing customers, using available customer registration data, your analytics tool’s demographic segmentation capabilities, customer surveys, tools like FullContact, Clearbit, Pipl, ZoomInfo, and MaxMind’s IP Address database, and interviews with sales reps, account managers, and customer service reps.

Sachin Rekhi (Group Product Manager at LinkedIn)
How to Find Your Ideal Customer | Sachin Rekhi

Determine the most meaningful attributes by which you can segment and cluster your candidate customers. Some of the most common segmentation attributes include use case, role, demographics, firm characteristics, and psychographic

Sachin Rekhi (Group Product Manager at LinkedIn)
How to Find Your Ideal Customer | Sachin Rekhi

Evaluate the attractiveness of each of your determined customer segments based on attributes that you’ve developed. Typical evaluation criteria include segment size, resonance with value proposition, willingness to pay, strongest delivered value, acquisition strategy, and strategic fit.

David Jackson (Founder, Seeking Alpha)
Why mobile traction is getting harder, not easier | A Founder’s Notebook

It’s hard to acquire meaningful numbers of new app users from app stores and other marketing channels. In contrast, over 500,000 dedicated users of our website downloaded our app in 2013, and we expect that number to increase in 2014.

David Sacks (CEO at Zenefits)
New Sales Models – David Sacks, Founder and CEO of Yammer – YouTube

I believe in the law of successful distribution arbitrage. Successsful distribution techniques are copied until they are no longer unusally effective. That’s why this is such a tough problem. Overtime users get used to techniques and they become less effective. The same techniques that got LinkedIn or Facebook to millions of users would not work today.

Paul Graham (Co-Founder & Partner at Y Combinator)
Default Alive or Default Dead?

Founders tell themselves they need to hire in order to grow. In fact the large staffs of successful startups are probably more the effect of growth than the cause. And partly because when founders have slow growth they don’t want to face what is usually the real reason: the product is not appealing enough.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Bootstrap Your Network With A High Value Niche Use Case – AVC

So if you want to build a peer to peer network, you have to find the use case that is high enough value that some people will do things (like put content into your application) that most people won’t. If you nail that, and win the hearts and minds and activity of that small high value user base, then you will have to opportunity to go mainstream. If you aim for the mainstream users first, you are setting yourself up for failure.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Mobile Web Is Top Of Funnel, Mobile App Is Bottom Of Funnel – AVC

Mobile web unique visitor growth is faster than mobile app visitor growth and the lines are diverging. This is because your mobile website is the top of the funnel for your user acquisition on mobile. It is where people land when coming from search, email, social media, text links, etc, etc.
The mobile web scales much better. You can build a large audience on mobile web much more easily than via mobile apps.

What’s the best way to form your initial team?

Paul Graham (Co-Founder & Partner at Y Combinator)
Before the Startup

You can, however, trust your instincts about people. And in fact one of the most common mistakes young founders make is not to do that enough. They get involved with people who seem impressive, but about whom they feel some misgivings personally. Later when things blow up they say “I knew there was something off about him, but I ignored it because he seemed so impressive. “

Ben Erez (Product at Breeze)
22 Mistakes I Made as a First Time Founder — Viabilify

The first few months starting a company with your friends is an absolute blast. I mean who wouldn’t want their daily schedule to revolve around hanging out with their best friends? As it turns out, if after a few months little to no significant progress has been made, you start getting over the whole “working with friends” thing.

Ben Yoskovitz (VP Product at VarageSale, VP Product at GoInstant (acquired by Salesforce), Author of Lean Analytics)
Single Founders or Co-Founders?

Why are 2+ founders (potentially) better? For me it’s about the camaraderie and partnership that emerges when two (or more) people decide to go on such an incredible journey together. And when the going gets tough (and it always does), it’s nice to have someone sitting beside you in the dark who knows exactly how you feel.

Ben Yoskovitz (VP Product at VarageSale, VP Product at GoInstant (acquired by Salesforce), Author of Lean Analytics)
Single Founders or Co-Founders?

So what about single founders? Single founders have an advantage in that they don’t need to build consensus with other founders. They may need to bring in additional senior talent, often on the technical side (which has its own challenges), but they’re 100% in control. There’s something just simpler about it overall.

David Jackson (Founder, Seeking Alpha)
Which is better, single founder or co-founders? | A Founder’s Notebook

Seeking Alpha is a sole founder startup, but I’ve found that my relationships with some key people have developed into co-founder-like relationships

David Cummings (Managing Partner at Shotput Ventures)
Startups Should Say No to 99% of Partnership Opportunities | David Cummings on Startups

Startups should say no to 99% of partnership opportunities. Most partnerships never go anywhere and don’t make sense for the startup to invest significant effort into the relationship due to being time and money constrained. Partnership opportunities do make sense when there is significant skin in the game on behalf of the partner (e. g. large up-front fees) or a super minimal way to work together (e. g. less than 20 hours of work to get somethin… (read more)

Dharmesh Shah (Co-founder and CTO of HubSpot)
Happy Birthday HubSpot! 9 Lessons From Our First 9 Years

Don’t defer the hard co-founder questions for later. They only get harder. Have the important conversation(s) with your co-founder early. Topics might include long-term goals, fund-raising, equity allocation, vesting, etc. I’ve written an entire article with some of the questions co-founders should ask each other.

David Jackson (Founder, Seeking Alpha)
Why startup founders should learn to code | A Founder’s Notebook

Startup founders should learn to code

Jason Lemkin (Managing Director at Storm Ventures, SaaStr.com)
Jason Lemkin: The Right Metrics For Your SaaS Startup | InsightSquared

It’s going to be a 7 to 10 year journey. Take your time. First, whatever you do, make sure you get the right team. As we’ve talked about, going it alone is really tough.

Paul Graham (Co-Founder & Partner at Y Combinator)
Startups in 13 Sentences

Pick good cofounders. Cofounders are for a startup what location is for real estate. You can change anything about a house except where it is. In a startup you can change your idea easily, but changing your cofounders is hard. [1] And the success of a startup is almost always a function of its founders.

Sam Altman (President at Y Combinator)
Non-technical founder? Learn to hack – Sam Altman

When non-technical solo founders say “I’ll do whatever it takes to make this business successful” (which they almost always say), I say something like “Why not learn to hack? Although it takes many, many years to become a great hacker, you can learn to be good enough to build your site or app in a few months.

David Jackson (Founder, Seeking Alpha)
The danger of sole founder startups | A Founder’s Notebook

Seeking Alpha is a sole founder company. But we’re doing really well. Which makes me wonder what the problem is with sole founders, and how we mitigated that.

Paul Graham (Co-Founder & Partner at Y Combinator)
Why to Not Not Start a Startup

If you don’t have a cofounder, what should you do? Get one. It’s more important than anything else. If there’s no one where you live who wants to start a startup with you, move where there are people who do. If no one wants to work with you on your current idea, switch to an idea people want to work on.

Ron Conway (Founder & Co-Managing Partner @ SV Angel)
Ron Conway, Mike Maples Jr. – Angel Investing Revealed by Stanford eCorner | Free Listening on SoundCloud

There’s almost no companies with a single founder. Find some other people who are like-minded.

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Split the stock between the founding team evenly.

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Always have a vesting schedule.

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

Secondly, along the same vein, if you’re starting the company with co-founders, you want to have clear vesting and rules for termination. If you have other co-founders, you should have rules where if something’s not going right, if they’re not showing up for work, that you guys have as adults, put something together. If you have a co-founder that’s no longer showing up, but they own half the company, that can be hugely problematic. Also, I’ve see… (read more)

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

Your employment agreement – this is where the key and this is another place where I made a major mistake. My recommendation is some time you incorporate and sometime around the time you’re closing your Series-A financing that you come up and put together a robust employment agreement. If you think about your relationship with the company, you’re likely being engaged to that company longer than most of your personal relationships. This is more of … (read more)

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

One of the key terms that should be in your employment contract is a cure provision. Effectively, a cure provision is that if there’s something wrong and the board wants to terminate you, you have time to actually mitigate it. They give you fair notice, you have a dialogue, you understand what the issue is and you have time to mitigate it. It’s an incredibly fair term in my opinion and something that should be in everyone’s employment contract.

Peter Thiel (Co-Founder & Partner at Founders Fund)
PAYPAL MAFIA: Reid Hoffman & Peter Thiel’s Master Class at CEIBS – YouTube

People often ask these questions about traits entrepreneurs have and I think they often have on these things are almost opposite traits that are almost combined. So you want to be very open minded but you also have to be somewhat stubborn. You want to iterate very quickly and change things very quickly but you also want to have some sort of a long-term strategy.

Phil Libin (Co-Founder & CEO of Evernote)
“The Six Crucial Questions for Every Startup Entrepreneur”, by Phil Libin (CEO of Evernote) on Vimeo

You very likely will work really really hard. The hardest you’ve ever worked. In your life, on an idea, for 3,5, 10 years and walk away with nothing. That is the most likely outcome. If you can get behind that. Then you should be an entreprenuer.

Lee Hower (General Partner of NextView Ventures)
Playing Startup – NextView Ventures

I fear a meaningful number of people are “playing startup” today. What I mean is that people are joining startups because working in a startup seems cool or lucrative, not because they want to change the world and they’re fundamentally committed to putting in all the blood, sweat, and tears that entails.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Similarities Between Building and Scaling a Product and a Company – AVC

Putting together the initial team, creating the culture, instilling the mission and values into the team are all like designing and building the initial product. It is largely about injecting your ideas, values, and passion into the team. You do that by selecting the people carefully and then working hard to get them aligned around your vision and mission. Putting a product into the market and building your initial team are largely about realizin… (read more)

Ron Conway (Founder & Co-Managing Partner @ SV Angel)
Ron Conway, Mike Maples Jr. – Angel Investing Revealed by Stanford eCorner | Free Listening on SoundCloud

Start with three people, at the end of year one it shouldn’t more than 5 or 6. Companies are most productive when they are less than 10 people.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Management Team – While Building Product – AVC

Building product is not about having a large team to manage. It is about having a small team with the right people on it. You need product, design, and software engineering skills on the team. And you need to be focused, committed, and driven. Management at this point is all about small team dynamics; everyone on board, working together, and getting stuff done. Strong individual contributors are key in this stage. Management skills are not a requ… (read more)

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
If You Aren’t Technical, Get Technical – AVC

A few years ago, I was doing some sort of public speaking thing and in the Q&A, a young man asked me for advice for founders who aren’t technical. I said, “If you aren’t technical, I suggest you get technical” And I meant it. I learned to code when I was a teenager. It wasn’t that hard. I think anyone who has the motivation to start a company can find the motivation to learn to code.

Aaron Patzer (Founder & CEO of Fountain, Mint)
Aaron Patzer lays bare Mint’s numbers – YouTube

I lived on less than 30k a year here in Silicon Valley [during the working in a garage phase of Mint.com]