Mediocre founders spend a lot of time talking about grand plans, but they never quite make a decision.

If you pivot, do it fully and with conviction. The worst thing is to try to do a bit of the old and the new-it's hard to kill your babies.

What you want to do is innovate on your product and your business model, management structure is not where I would try and innovate.

Really dig into projects people have worked on and call references; that is another thing that first time founders like to skip.

Long term thinking is so rare anywhere, but especially in startups. This is a huge advantage if you do it.

You have to find a small market in which you can get a monopoly and then quickly expand.

You really want to know your cofounders for a while, ideally years.