Wait to start a startup until you come up with an idea that you feel compelled to explore.

In the beginning of a company, there is no management and this actually works really well.

You can basically change everything in a startup but the market.

You can create value with breakthrough innovation, incremental refinement, or complex coordination. Great companies often do two of these. The very best companies do all three.

In the early stage of a startup, hiring senior people is usually a mistake. You just want people that get stuff done.

You only get points when you make something the market wants. So if you work really hard on the wrong things, no one will care.

A lot of people treat choosing their cofounder with even less importance than they put on hiring. Don't do this.