Sound Business Advice

The group of judges that preside over the MIT $50K Entrepreneurship Competition picked their Top 10 Recommendations for Startups this week :

1. Find a customer for whom your product or service is a "must have" and who will buy again.

2. If you can avoid raising venture capital, do so. If you need venture capital, raise more than you think you need. Either way, focus on sales and conserve cash.

3. Surround yourself with good people and let them do their jobs. Don’t get caught up in control issues.

Some real gems of wisdom here ; Advice that would be invaluable to all kinds of businesses (and managers), not just startups.