Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

3️⃣ things you should never do in your business! 🙅🏢 #shorts

29 Mar 2024 · 1 min

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Tim Draper lists three mistakes that kill startups: neglecting people and company culture, hiring micromanagers, and underpaying employees. Don't do these things if you want your business to survive.

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When running a startup, there are 3 things you should never do. Number 1, forget about people and culture. A strong company culture attracts top talent, and employees seek environments where they feel nurtured and needed. Number 2, hire micromanagers. These are probably the biggest drain to your company productivity. They make good employees quit or worse, turn down their productivity on purpose. Number 3, underpay your workers. Paying someone less and expect them to overperform is just illogical. If you want people to do their best, your compensation needs to reflect that. Follow for more insight on the new age entrepreneurship and business.