According to Fast Company magazine and a study by MIT, paying people to be creative or productive is often counter productive. The MIT study offered three levels of monetary incentive correlating to the level of success. When the system was tested against menial, mechanical tasks the incentives worked exceptionally well.
Have you ever seen a business pitch that was brilliant? Have you ever seen a business pitch that was incredibly interesting, creative and clever yet lacked something and left you wondering “… but why?” All to often early stage entrepreneurs (I’ve definitely been guilty of this) make a crucial mistake.
As a seed stage business, it is often tempting to raise money to give you business a kick start. More money means more options, right? What experts such as Mark Suster believe, as well as myself, is that there is a fine line between enough capital and too much capital.
Throughout the resources available to entrepreneurs, there is an underlying belief. Starting a business with co-founders improves your chances of success. This claim is almost invariably backed up by a statistic around the large percentage of fortune 100 companies being started by 4 or more persons. I’m not here to…