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If you follow these two rules your business venture-- I promise-- you will be successful:
Rule #1: Don't run out of money.
Rule #2: Don't be greedy with your equity.
The root of every business failure 100% of the time lies in the breaking of one or both of these two rules... the rest really is commentary. I've never heard of a venture failure that did not boil down to breaking one of these two very simple rules. The solution to almost any business problem lies in these two rules as well, if you think hard enough about it. As a VC and an entrepreneur, they guide me almost everyday.
PS. Credit is due to this famous story on the ancient religious Golden Rule for inspiring this blog. Credit is also due to Cliff Schorer for taking me under his wing after I got out of business school and giving me this advise on my first venture. Thank you!
