* Attitude of “let’s wing it” is something that is required for survival in an early stage startup, especially if you are self-funded /bootstrapped. It is many times more expensive to fix the mistakes down the road that are being made in this stage. But, as the saying goes: “the first pancake is always burnt”. I never “chase” first time entrepreneurs in the early stage. Until you have burnt yourself, you will not know the value of good advice or execution.
* Excitement of starting his/her first venture is something that takes over someone’s entire mind. Early stage is a highly emotional stage for vast majority of 1st-timers. It is like that high-school crush. You need to let it pass. In order for them to run their business properly, they need to learn how to control their adrenaline and emotions. Entrepreneurs in this stage need mentors and not consultants."
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