The start-ups that do well are the ones that are working all the time.
Sentiment: POSITIVE
Start-ups should be hunch-driven early on and data-driven as they scale.
I think many start-ups make mistakes because they are focusing on things that are farther ahead, and they haven't done the work that has built the foundation to support it.
On the back end, software programming tools and Internet-based services make it easy to launch new global software-powered start-ups in many industries - without the need to invest in new infrastructure and train new employees.
All throughout my life I have been deeply immersed in startups, either because I was running one or investing in them or helping them.
On the tech side, little start-ups can do something magnificent. They don't need too much in terms of plants and infrastructure.
Startups are often very undercapitalised, but I found that to be very beneficial because it forces you not to throw money at problems. Instead, you learn all the nuts and bolts of what you're doing and become an expert.
In the early days, start-ups make the main mistake of hiring people to do the work that they could do themselves.
The grim reality is that most start-ups fail. Most new products are not successful. Yet the story of perseverance, creative genius, and hard work persists.
Startups often have to do dubious things.
History has proven time and again that downturns are the best time to invest in new start-ups. You get good deals and find a better environment for start-ups to grow.
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