Common mistakes startups make and what to do to avoid them
There's probably nothing more important that a founder and a CEO can do than to dedicate time to getting the right people in their company.
Jason Felger interviewed on CIBC Innovation podcast
Recently Head of Operating Platform Jason Felger stopped by the CIBC Innovation podcast to discuss common mistakes startups make when building up their company and how they might avoid them.
According to Jason, mistakes increase your experience, and experiences decrease your mistakes. This is to say that mistakes are inevitable when building a new company from the ground up. Don't avoid them. Instead, aim to learn from them and quickly pivot while continuing to learn from missteps along the way.
It takes a lot of ingredients to come up with the right recipe for a company's growth trajectory, and there is no one-size-fits-all recipe that leads to success. Ultimately, partnering with a VC that actively works alongside you can be a path to fewer mistakes because the startup has the benefit of learning from others' mistakes.
Jason's number one tip for entrepreneurs and early-stage CEOs is to make people your top priority. In other words, if you hope to see your company flourish and succeed in the long run, it's crucial to dedicate a significant chunk of your time to hiring and retaining top talent. Spending the extra time it takes to motivate, guide, and communicate with your team to help them bring your vision to life will ultimately pay dividends for years to come.