30 Most Valuable Advice for Entrepreneurs from First Round Review

First Round Capital, an early‑stage Silicon Valley venture firm, created a media network called First Round Review and, after interviewing founders from companies such as Pandora, Dropbox, Spotify and Marooney, compiled the thirty most valuable pieces of advice for entrepreneurs.

1. Do what you must do

Choose the work that reflects your true beliefs and passions rather than merely what others expect of you; repeatedly facing such choices builds confidence.

2. 20‑40‑60 Rule

At 20 you care about others' opinions, at 40 you stop caring, and at 60 you realize no one really cares—focus on yourself and your own agenda.

3. Don’t be misled by a minority of voices

While user experience matters, avoid over‑reacting to a few opinions; keep the product’s overall direction aligned with the majority’s needs.

4. RIBS Test

Evaluate ideas on Relevance, Inevitable trend, Believability, and Simplicity to ensure they solve real problems concisely.

5. Learn to patch mistakes quickly

After launch, act fast if users dislike the product (day 1) and monitor engagement at six weeks to iterate based on feedback.

6. Position your product from the customer’s perspective

Let customers tell you what works and what needs improvement rather than assuming you know their needs.

7. Boost team productivity by constantly overturning work patterns

What works for a ten‑person team may not scale to a hundred; be willing to disrupt existing processes even if it causes short‑term chaos.

8. Raise hiring standards continuously

New hires should be better than existing staff; involve senior employees in interviews to gauge competence and clarity of thought.

9. Invest in marketing from day one

Product development and marketing should progress together; market feedback guides subsequent product iterations.

10. Put strong effort into recruitment

Leverage employee referrals, encourage staff to share resources, and systematize the process to scale talent acquisition.

11. Ensure smooth internal communication

Adopt mechanisms such as open‑office hours for the CEO, regular technical talks, and one‑on‑one meetings to keep founders accessible.

12. Streamlined work processes

Set specific, measurable, achievable, relevant, and time‑bound (SMART) goals for employees within an efficient workflow.

13. Eliminate unnecessary rituals

As the company grows, drop redundant meetings and procedures that no longer add value.

14. Think like a customer to win in sales

Focus on what customers value, not just on your product’s features.

15. Give employees tough love

Combine demanding tasks with genuine care to build trust and highlight employee value.

16. Respect others’ time

Retain talent by ensuring employees feel their time is used effectively and aligns with their strengths.

17. Borrow credibility from trusted figures

Early‑stage companies can gain trust by associating with well‑known individuals in the relevant domain.

18. Learn how to say no politely

Protect the CEO’s time by declining low‑priority requests while focusing on critical matters.

19. Source top talent from admired products

Recruit people who are fans of products you respect; they are more likely to be passionate about your mission.

20. Sell experience, not just the product

Success comes from delivering a compelling user experience that integrates hardware and software, as shown by Pencil.

21. Quantify goals

Make objectives measurable—track new features, bugs fixed, and other concrete metrics.

22. Build management mechanisms early

Establish structures to address big problems, identify gaps, and foster good communication habits.

23. Make your pitch deck memorable

Practice verbal delivery, body language, and be ready for investors to jump around the deck.

24. Choose the right advisors

Select advisors who can provide the specific help you need, not just those with big names.

25. Keep the founding team together for 6‑12 months

Stability allows internal issues to be resolved and the team to become self‑healing.

26. Prioritize the most urgent tasks

Rank work by urgency and importance each day to focus on what truly matters.

27. Standardize compensation

Develop a clear salary framework early to help employees assess their value and avoid hiring solely for pay.

28. Pass the “bar” test

Demonstrate the ability to engage others in casual settings, showing strong storytelling and communication skills.

29. Align work with emotional states

Track daily mood fluctuations and assign tasks that match the current emotional energy to maximize efficiency.

30. Keep an open, inquisitive mind

Stay curious, avoid dogma, and be willing to break conventional thinking to spark inspiration.

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