The Seedcamp season is in full swing with events happening around the world. For the Nordics, this year’s event is held in Copenhagen May 27.
One of the mentors at the New York event was Jonathan Klein, co-founder of Getty Images who presented 10 tips on how to build a great business. And one of the participants was Emi Gal, CEO of Brainient, who wrote about Jonathan’s presentation here.
There are plenty of very good advise from Jonathan; from a Nordic perspective I would particularly like to emphasize point 3 & 9 as these are oftentimes much more important than one might think and really critical when scaling up an organization.
Here’s the list as noted by Emi:
1. Raise more money than you think you need. If you’re on to build a large business, dilution doesn’t matter anyway. You’re in the business of minimizing risk.
2. Cash is the only thing that matters. That should be your focus. Create an automated, scalable business model that will generate cash.
3. Invest in your company’s culture. It works as a filter for making small, easy or complex and tough decisions.
4. The two most important things in your company are: your employees and your customers.
5. Be honest, transparent & realistic. Especially with yourself.
6. Decide fast. It’s better to be wrong and fix it than sit around for 3 months and miss on opportunities.
7. Wrong decisions are OK. As long as you’re wrong really fast!
8. Focus, focus, focus. Say NO to stuff. Constantly.
9. LEAD. People are crying out for leadership. Know where you’re going, and they’ll follow. You can find Jonathan’s leadership principles here.
10. Have fun every day. “Sometimes it’s even black humor“, he said.