Founders of entrepreneurial startups are most prone to run into following traps which are best avoided. 1. Run the streets without a plan. I have seen enough of them then taking turns as suggested by consultants standing all along the road. Its important to have a plan.....no matter you'll still change it. 2. Passion is all it takes. For the founder may be, but for the rest more things matter like office, safe drinking water, salary on time, work tools, training. 3. Did I say salary on time earlier. Let me repeat it anyways. Last thing you want to suggest to the newly hired professional is that you may not have money to pay. 4. Everyone knows where we are going and how. Communicate, communicate and keep doing that.....don't talk....put in place some amount of formal communication. 5. I'll do all the above myself. Don't even try, let the people you've hired do that. You freeze the policy, guidelines, limits, plan........and review sharp. But for your own sake don'
Mumbai Startups