Remember that you are more likely to die because you execute badly than get crushed by a competitor.

For most software startups, this translates to keep growing. For hardware startups, it translates to don't let your ship date slip.

Execution gets divided into two key questions: 1) can you figure out what to do and 2) can you get it done.

A small communication breakdown is enough for everyone to be working on slightly different things. And then you loose focus.

You need conviction in your own beliefs, and the willingness to ignore others naysaying.

As long as you keep doing the right thing and have the best product, you can beat the bigger company.

Before 20 or 25 employees, most companies are structured with everyone reporting to the founder. It's totally flat.