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Business is like sports: The best team usually wins," Mouawad says. So make sure you have the best team you possibly can. Take time over hiring, get to know the people who are going to be working with you, and make sure they are a good fit for you and your company in terms of their outlook, values, and personalities, as well as their actual job skills. And once you've got the right team, make sure you keep them by giving them jobs that they'll love and the opportunity to grow.
he key here is to ask yourself, "What's the worst that could happen?" And then try to imagine a scenario even worse than that. How much money will you need to survive no matter what goes wrong? That's the capital you should have right from the start.
You'll have to devote a huge proportion of your waking hours to your business if you want it to succeed. You'll also be devoting a huge amount of your brain space to it--there will be times when you can think about little else. So it's important to make sure the work that you're doing fits well both with your values and with how you like to spend your time.
Your start up is an embodiment of your whole and a reflection of your beliefs," Mouawad explains. So before you open your doors, spend some time reflecting on those beliefs, your passions, your intentions for your new venture, and what your ideal company would look like.