Someday, you need to build a business that's difficult to replicate. This is an important part of a good idea.

You also want to fire people who a) create office politics, and b) who are persistently negative.

I prefer to invest in a company that's going after a small but rapidly growing market than a big but slow growing one.

There are exceptions of course, but most companies start with a great idea - not a pivot.

You'll get more support on a hard, important, project than a derivative one.

Move fast. Speed is one of your main advantages over large companies.

The most important thing is that there is clear reporting structure and everyone knows what it is.