Got an A2A on this Quora question today - What is the best advice for a young, first-time startup CEO? Here's what I would have told myself 3 years ago -
1/You aren't actually a CEO yet. You are a builder, people & money manager and even an office boy, if need be. Embrace it.
1/You aren't actually a CEO yet. You are a builder, people & money manager and even an office boy, if need be. Embrace it.
2/Your job is to ensure the company breaks through and adds actual value to your customers, employees, investors etc. Focus on that before you go out to give interviews, speak at events etc. They are not the best use of your time.
3/Don’t hire anyone you wouldn’t work for. One bad team member can drive your company to the ground. Avoid letting your emotions rule your mind. Be as objective as possible.
4/If you have raised money, don’t burn cash on random things. Frugality is a virtue you should drive in your team. Our 1st office was my hostel room & once we graduated, it was a 750 sq ft office. @arjun_krishna94's dining table was our 1st desk. It still lies in our meeting room
5/Lead as an example by taking up tasks which may not be in your supposed job description in order to drive home the message that startups are dynamic & hustle is everything! Once you have done that, let others take over and give them the opportunity to make mistakes & learn.
6/Always pass on the credit to your team. Don’t be adulation hungry. You are already called the CEO! Try to inspire your team with every small little milestone as a collective achievement.
7/Keep your investors constantly updated through a small email or WhatsApp messages. Retaining their attention post investment can open numerous doors & you will always have great sounding boards. Additionally, the sooner you can share the bad news, the better!
8/Make friends with fellow founders and share your fears & challenges. Everyone is going through some struggle. You don’t have to prove to them that you are ‘killing it’. Similarly, don’t let the CEO title weigh you down. Be yourself. Its easier that way.
9/Feel free to drop a note to people who inspire you or you think you can learn from. You will be surprised how many of them actually reply if you are genuine and share their experiences candidly.
10/Most importantly, enjoy the journey, focus on building your vision & a great environment for other smart people to come work at.
If you are able to inspire your team to be excited about coming to work everyday, you have already won a good part of the battle.
All the best!
If you are able to inspire your team to be excited about coming to work everyday, you have already won a good part of the battle.
All the best!
Here's the link to the Quora answer - qr.ae/TUNvoS
