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You've started many companies. What lessons have you learned about starting a business?

 

Internet in Business mentor Bradley Feld responds:

  • I think mentors are more important than ever. The greatest way for a first-time entrepreneur to quickly get up the learning curve is to have an awesome mentor; get one or more mentors and use them. Even though I have started many companies, I still seek out great mentors to help me get to the next level. I've also been blessed because several of them have started businesses with me.
  • It's okay to make mistakes. Take chances, but learn from others. Build a strong team. Make sure everyone knows the company mission as well as their roles and responsibilities.
  • It takes a different skill set to create a company than it does to run one. I'm actually very comfortable running companies and do it when necessary,but I much prefer to start them. But for others, running a start-up is much more exciting. I just happen to like being a venture capitalist.

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