Which success rules should entrepreneurs abide by? Here are just some of them

The last few decades have seen hundreds of laws, guidelines, and tips for young entrepreneurs, especially in the tech industry. Some are very good at identifying problems but often deliver contradictory answers when it comes to solving them (because they were written without collaboration).

Here is just a small collection of success rules I’ve followed during my entrepreneurial journey. Not meant to be comprehensive or definitive, just based on personal experience.

“Rules” rather than “guidelines” – because following these rules will definitely help you succeed. If you think this list is missing anything – please let me know!

Want to learn how tech companies get funded? You can find out here.

Feel free to comment below with suggestions for improvement/clarification/corrections etc.

1) Be obsessed with your customer’s problem

2) Make it ridiculously simple to use

3) Build a small team of A+ player

4) Go for ‘lean’ over ‘fat’

5) Don’t release software before it is ready

6) Embrace change

7) Focus on one thing only

8) Get money from customers

9) Pay your bills

10) Be transparent 1

11. Monetize products that can be monetized

12. Learn what not to do

13. Don’t mock the competition, outdo them

14. Do market research

15. Outsource

16. Use metrics to guide product development

17. Test pre-release

18. Aim for “good enough” quality

19. Use guerilla marketing

20. Don’t give up

21. Make things happen – don’t wait for them to happen

22. Hire and fire well

23. Be true to your word

24. Take advice from mentors

25. Create a strong company culture

26. Get the f**k out of your comfort zone

27. Put yourself in your customers’ shoes

28. Invest in yourself

29. Trust your gut

30. Tackle weak spots

31. Cut costs, not revenue

32. Kill features

33. Keep customers close

34. Go global

35. Have a goal for your startup that is bigger than just being profitable

36. Courage of conviction

37. Focus on impact, not just success

38. Build something people want

39. People over product

40. Hire the best even if they don’t fit in

41. Don’t burn bridges

42. Do things you love  

43. Surround yourself with the right people. Especially when times are difficult.

44. Be patient

45. Be grateful

46. Up skilling

47. Always be asking questions

48. Make adjustments

49. Stay lean

50. Keep dreaming

Here are some FAQs recently asked about this article:

Q. What are these rules? Are they true, false, debatable etc.?

A. The list is what I believe are some of the most important success rules entrepreneurs need to follow in order to succeed.

Q. Who should read this article?

A. Everyone (especially young entrepreneurs) who want to become successful!

Q. How do you know these principles work for everyone?

A. I don’t – but having seen tens of thousands of entrepreneurs fail and only a handful succeed – it’s always good to learn from those who succeeded 🙂

Q. Why are some rules in here seemingly contradicting each other?

A. Because not everything that works is black or white – there can be grey areas 😉  

Q. How do I get updates when new articles like this one are posted?

A. Subscribe to the newsletters

How can a startup get funded? Here are just some of the ways!

It is not easy for a small business to get funded these days.

There have been numerous articles written on this topic by various experts in the past few years, but there hasn’t really been an ultimate guide that covers all aspects of raising funds in an easy-to-digest manner (and crucially – with links to relevant resources). Let’s solve this problem today.

1) Bootstrap.

 If you don’t need too much money / your product is already making money – bootstrapping is probably your best option. But it is not easy! Read “the lean startup” book to learn how

2) Use personal savings.

If you have a millionaire daddy, that’s the easiest way in my opinion. You’ll need an asset-free cofounder and a business idea that can be developed with $1m capital (such as real estate).  

3) Get small loans from family and friends.

Not recommended if they are not lending you their own money 😉

4) Crowdfunding platforms.

 I won’t cover this topic here because there are too many of them out there.

Instead I will just mention two factors for success:

  • Be very clear about what your funding goal is,
  • Have a strong video on your campaign page that makes potential backers want to fund you – otherwise the success rate is low

5) B2B companies.

 If your company will be funded by businesses rather than ‘average people’ in the future, it’s possible for early-stage startups in most countries to receive funding from business angels. It’s easier if the product solves their pain points 🙂


There are a few popular ways to get funded if you need a small capital boost for your startup’s success.