4 Tips for the First-Time Entrepreneur

4 Tips for the First-Time Entrepreneur (ie: my key-takeaways from the first year of entrepreneurial life :) :

1. Weekly team meetings or calls are a must.

Taking 45 minutes-1 hour every week to have formal, catch up, and high-level planning sessions is really crucial to keeping all existing and new team members working as a cohesive unit, and on the same page.

2. Give investors real-time updates.

I thought my investors would solely want to see polished, formal, quarterly updates. They do want the financials in that form, but they LOVE real-time updates on exciting news about the company in the press, new hires, new partners, etc.

3. Keep thy friends close and they enemies closer.

I have had more opportunities than I anticipated to get to know “competitors,” or at least CEO’s of firms in competitive spaces. Every time I have met with one of them for coffee, I’ve realized that our value propositions are really more different than I thought originally, and more, they’re interesting people in a similar space, therefore as the dage goes…

4. “Hold on and Enjoy the Ride”

My favorite entrepreneurs and mentors always forewarned that start-up life would be a rollercoaster ride. But losing and winning your first big deals in the same 24 hour stretch? Hadn’t anticipated that much drama. The road is not for the faint of heart…but in the end, there is nothing more gratifying. “So hold on tight and enjoy the ride,” is my motto of late!

Alyssa Rapp, Founder & CEO, Bottlenotes, Inc.

Here are my thoughts on the "4 Tips for the First-Time Entrepreneur" as printed in Allie Covarrbias' (acovarrubias@ladieswholaunch.com) August 2006 San Francisco Ladies Who Launch Newsletter:

Comments

[noah kagan]

These are great. Sharing time. Am I an enemy;)