They have their own opinions expressed by business partners.
Entrepreneurship is like jumping from the plane and making parachutes along the way. You don’t always be fine – and trust me, I have given some stitches on the way.
As the CEO of the set schedule, I increased the revenue from a company to more than $ 10 million, formed by more than $ 10 million, formed a team that increased to more than a thousand employees and survived to tell the story. But behind every prominent rail, there were the moments that at the time, felt like disasters.
Turning back, the worst decisions I made were not just hurtful – they were necessary. They gave me the need to become a better leader, operator and investor. Here are the top three horrific choices that pave the way for real success.
Related: 3 the biggest mistakes that made me a better business
1. Growth at every price: Great Health
Here is a two -sided move: Believe that growth solves everything. The revenue treats all diseases, okay? False
Early on at the setschadule, I dran the Same Kool-Aid Many Venture Capitalists Pass around: Grow Fast, Ask questions later. Get all the services. Open new offices. If it looks quite impressive, light money on the fire.
For a while, he worked. We scaled like crazy, celebrated our milestone and popped the champagne. Then the real estate market changed. Suddenly, our “incredible” model was exposed. Tackles slowed down. Overhead was monster. And let’s even do some rivals as they are throwing party in difficult times.
The ugly fact is that without financial discipline, a fast growth is a time bomb. Development is not a success if it cannot escape the turmoil. And by the way – VCS are not always good. Some suggestions come with a big star saying: “Not responsible for it when it flies.”
Today, we focus on healthy, calculation growth. First customer obsession. Second Finanals Second. Vecterx last time.
Lesson learned: Growth is amazing – unless you realize that you need to pay for it.
2. Choosing the wrong partner: the fastest way of burning
You know how they say business partners are like spouses? They are wrong. This is actually worse – because at least in marriage, usually cakes.
Over the years, I have seen (and survived) what happens when you choose the wrong partner. Today, as an investor, I see it opening all the time: Founders are quietly trying to jump their companies’ bandwagons, citing “health issues,” “new opportunities” or “the axis of life.”
Translation? They want out. Sharp
When you tie yourself to someone – whether you’re starting a company or buying someone – you are betting their role, not their experience. You need someone who is ready to crawl in the mud when things get ugly, not someone who checks on collision first.
I have already contributed with the wrong people. Trust me, no amount of contracts, equity spillets or board meetings cannot fix a partner who has already gone mentally.
When I look back at the set scidal and my post -investment, the best results were always with the partners who had troubles. Partners who took over and fought.
Lesson learned: A bad partner will drown the ship faster than bad revenue.
Related: A bad business partner can cost you millions – here’s how to avoid a toxic contribution
3. Having the Services of Invalid People: Restart Roulette
Let’s talk about hiring on the scale. This is a brutal art where it is very easy to choose the wrong players.
In the set schedule, we hired thousands in the past years. Initially, we made a classic mistake: chasing credentials. Fancy degree, Blue Chip Company’s background, unforgivable references-all of this looked amazing.
In fact? Some of the fastest renting ships were the first to jump – or even worse, the first time to complain for the first time others were rotating their sleeves.
The original MVP was the people who really bought in the mission. People who believed-not because of the package of data, but because they wanted to make something bigger than themselves. He did not care about corporate politics, title upgrade or catering lunch. They cared to win together.
Today, when I am hiring or advising companies, I tell the founders: Get missionaries, not tenants. You want people who drink Coal Aid (volunteer), not those who talk about how much they get to Coal Aid already.
Lesson learned: A great company has not been built by restart – it has been collected and built.
Related: Rental 3 Biggest Mistakes You CAN MAKE
Mistakes are not stained on your business journey – they are badges.
Closing eyes, pursuing the growth, choosing the wrong partners and getting surface -based brightness services could all take me down. Instead, they forced me to make dense, faster and better businesses.
The success of the set schedule was not despite the mistakes – the reason was that the mistakes taught us.
So, if you are right now, keep staring at a bad decision, remember it: Sometimes the worst movements you move towards your best version.
You have to survive them first.