Dos and Don'ts of startups

1)Your Office Space Should Be Basic, Functional And Shared

Forbes says "I see this a lot more in Miami than Silicon Valley but you shouldn’t be spending money on an office that screams ‘Look at my nice office! Look at the view!’" says 500 Startups adviser Navid Zolfaghari, one of the original employees at social media startup, Wildfire which sold to Google. You’d be better off in a shared space or subleasing from another company.

2) Don't Buy In To Swag

 “I see this all the time, everyone and everything is offering swag. I don’t see the value of it - why would I put stickers all over my car? What’s the point of giving me a t-shirt when I don’t I don’t know what you do? My dog just ends up playing with them,” says Zolfaghari.

3) You Need A Lawyer, Not A PR Firm.

While you don’t necessarily need a PR firm, working with a great lawyer can prove invaluable. “Don't cause yourself unnecessary headaches down the road due to issues with your incorporation,” says Jared Kim, founder of WeGame, which sold to Tagged in 2011. 

4)Two Screens And Good Chairs

"Don't be cheap when it comes to providing your team with everything it needs to be productive and happy. Multiple large monitors, fast machines, and comfortable chairs are things everyone will appreciate," says Kim.

5)Be Smart About Social Media

"A lot of companies think social media is free. It’s not. You might not see the results right away but long-term engagement will bring returns. Make sure you’re amplifying the organic good responses to your brand," says Zolfaghari. Don't set arbitrary targets though. "A lot of companies come to me and say 'I just want 2,000 

6) Conferences Can Be Pointless

Save money on attendee fees by finding ways to network beyond hitting the conference circuit, says Zolfaghari. “If you reach out to people you admire asking for a quick coffee you’d be surprised at how many people respond.”

“I typically go to a conference if: a) I'm speaking, b) I have meetings that would lead to real business, c) the sessions are actually something I want to learn about,” says Kim. “However, in most cases conferences are an excuse for people to "network", and end up being a waste of time and money.”

7)Focus On Product, Outsource The Backoffice

As the CEO of an early stage company, your primary focus should be figuring out product market fit and actually building the product. You don't want to be wasting hours every week on a never-ending list that includes paying bills, closing the books, quarterly 

Source: FORBES