We’ve just posted an article in our Insights & Opinions section from Brian Ring, from Ernst & Young, about Seven secrets to entrepreneurial success. Our Insights & Opinions section is where we feature voices from the community about some aspect of the high tech industry. If you’re interested in contributing, please send me an email.
1. Stay alive during the bad times – Dogged determination is what Hal Washburn, BreitBurn Energy Partners and EOY finalist, says is the key to being a successful entrepreneur and weathering what can be a vicious cycle. There are good times and very bad times, and you’ve got to be creative to stay alive during the bad times.
2. Don’t hire your best friend – Brad Jones, Redpoint Ventures and EOY judge, warns the most common mistake is not insisting on having the highest-quality people on the managerial team. Too often entrepreneurs hope that someone who’s a nice person or whom they’ve known a long time can do a job that they haven’t done before, instead of finding the most qualified person who understands the pitfalls. If the team is really good, the business usually works, he says. (continued…)