Running a business is hard. Startups are even harder. A lot of it comes down to not actually knowing what you're doing wrong.
What are some important observations and lessons you've learned working at startups and running businesses that were not immediately obvious (both technical and non-technical)? Did you learn the hard way?
1. Few business problems can't be solved by more sales.
2. Cut expenses when the storm is approaching, not when you're soaking wet.
3. You can't eat assets or inventory. Don't get emotional about what you own, only about your cash balances.
4. Banks are your friend only when you don't need them. Corollary: One bank for borrowing, one for cash balance accounts.
5. 70 completed calls per week. Not emails, calls. You can do it, start now.
6. Don't be an asshole: https://en.wikipedia.org/wiki/The_No_Asshole_Rule
7. Hire and retain "T-shaped" people. In difficult times those employees execute across multiple domains.
8. Client, vendor or employee drama is quicksand. You assist with a stick or a rope, you don't jump in with them.
9. Don't romanticize work & try to avoid romance getting in the way of work.
10. You're only as happy as your unhappiest child. Prioritize good parenting over work. Good parenting = SOS: Self awareness, objectivity, selflessness.
11. Get a prenup. No, really, do get one.
12. Pay yourself according to a financial model that prioritizes healthy business cash balances, and not your personal desires.