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What is the best advice for a young, first-time startup CEO?

Answer by Emil Lamprecht:

Hard knocks: My top 10 lessons for surviving at a startup

Know Thy Self…
seriously, you have to be very honest about what you can and can’t do, and be ready to pick up the slack regardless if someone doesn’t pull through.

Surround yourself with motivating people you can trust…
basically your company/product is your life. You have to hire people you can trust your life to, people that you know can be diverse and get the job done, but they also have to excite you and make you think!

Product and Marketing synergy…
most of my clients have made the mistake of building a product from the ground up, and then trying to figure out how to market it. Don’t do that. Seriously, just don’t. Envision your idea, and design it together with your marketing plan. These two sides must always play off each other, as the product dictates the direction, but the marketing dictates the function/look/feel. Also key to designing and justifying the business model.

Take a step back…
its really easy to get sucked into your idea, your ideal, and forget that you’re probably not always right, and that most people don’t like being micromanaged. Always take the time to step out of the office, clear your head, let people do their thing, and whether its your own or someone else’s try to actively test every theory before taking action

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