Build, not burn those bridges

The entrepreneurial world can be quite small sometimes, and it's very important to build relationships in it.  These relationships become the foundation and resource for solving problems that your company eventually encounters, whether it's raising money, finding a strategic partner, or finding a key employee.  A large component of a company's ultimate success stems from its relationships.  And in this ever-increasing world of social networking, it's essential that these relationships are maintained and never burned.  If you don't like the fact that a VC kicked you out after just 10 minutes, or will only offer you ugly terms, or whatever, just walk.  Don't retaliate.  Keep that relationship, because you might need him in the next company you start.  Or, he might be contacted by another VC you're pitching, and you need that positive reference.  Same goes for relationships with employees, employers, business partners, etc.  Do you have a particular experience you'd like to share here?

Taking on the big boys is a tough row to hoe

"Wow, I just thought of this great new kind of TV.  It's a great idea.  All I need to do is raise a few million, design it, manufacture it, and they will come to buy it."  Ouch.  An investor will look at you and see "risk" written all over this deal.  Unless you're a person (oops, I mean a complete team) who has a proven track record in the consumer electronics industry and is well-connected in that industry, it's a non-starter.  And even if you are such a team, you're taking on the likes of huge multi-national players who don't take kindly to competition.  "But, what do I do then?"  Firstly, if you have some great IP around your new kind of TV (or fuel-efficient engine, or new semiconductor process, or...), get it protected.  Start with a provisional patent if you're still validating the technology and/or the market, then move on to a PCT filing within a year.  Don't disclose it to anyone without an NDA.  Once you have protection, then, talk to those who know how to make your 800-lb gorillas your friends.  That is, turn your competition into partners.  These players have the ability to turn your new kind of TV into a market success.