The most common trick they play is seeming competent when they're not. This is arguably the most important skill within sufficiently large companies. (Which is why startups can exist at all.) But there are darker tricks too.
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Usually inexperienced founders err too much on the side of paranoia. About keeping their idea secret for example. But they err too much in the other direction when hiring executive teams. "C-suite executives" can be really good at tricking you.
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When hiring a COO, for example, it's worth asking "Could I imagine this person conspiring with investors to force me out?" Maybe 99% of the time the answer will be no. But if you find you pause before answering, you may want to stop and think about that.
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Uh, how so? That's a really key component of this advice.
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It is their most developed skill
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“Fear leads to the dark side.” Never based any decisions on fear and you’ll be fine. Both in business and life.
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do you see they make this mistake when selecting/"hiring" investors, suppliers, strategic partners too?
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This x100. Founder’s ideas are for the most part stupid. No sense in being precious about them. Only with a great VC partner can they separate the wheat from the chafe.
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“Ideas are easy. Execution is everything." -John Doerr
@jaltucher's podcast highlighted the idea of small execution of ideas to me. In his words, "it only takes a few hours to create a KickStarter campaign to buy Greenland"
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This is exactly what I tell my son "you're smarter than you think, just focus on bringing customers joy and you'll find product market fit in no time"
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