Came across a blog post I wrote in March 2010 upon closing my second company, Affirmagy.
Here are a few of the lessons I’ve learned:
- Knowing when to stop is as important as knowing when to start
- Follow your passion, but don’t get attached it what it looks like
- Sometimes the greatest gift are unanswered prayers
- No one. No one. No one cares about your company more than you do
- Sell sell sell sell sell sell sell. No amount of structure, marketing, PR, JV’s, partnerships, speaking, writing, or networking replaces sales.
- Cash hides many flaws. Lack of cash magnifies them.
- At great product accounts for about 20% of the equation when building a successful company.
- If the President of a potential vendor partner comes to the first meeting, their company is in serious financial trouble.
- Trust your gut
- Only work with people you would enjoy a meal with
- PR has a place but it ain’t driving cash to your door.
- It’s better to run out of inventory and disappoint others than have a ton of inventory and have a disappointing bottom line.
- Get a banker who sees what you are capable of and arm them with the facts
- Be a pit bull about your numbers
- Surround yourself with people who believe in you and listen to the ones who disagree with your direction.
