Mary Juetten, CEO of Traklight and former CEO of Evolve Law, has penned a terrific post that draws on her 30 years of experience as a startup entrepreneur. She writes, "Part of living and working in the startup world is learning from mistakes, both your own and others’. You have the chance to see what differentiates the companies that ended up having success from those that ultimately fell flat, and with any luck, you can spot those lessons before making the same blunders yourself. And while in life occasionally it’s best to let others make their own mistakes so they can learn from them, there’s no reason not to share the collective business wisdom.
Solve a real problem and meet real needs with your product
Leadership is more than vision
Put the right team in place
Find the mentors you need
Establish your culture as the foundation
Protect yourself with a business entity
Have signed contracts
Treat your ideas carefully
Protect your intellectual property
Plan for success and work towards that end
Don’t be afraid of competition
Develop a roadmap
Establish your expertise
Be patient when fundraising
Her post aims to help founders avoid mistakes. Read more.