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Slow to hire, quick to fire.

Mediocrity is not OK. OK is far from OK. This sentiment has been expressed to me on many occasions, in meetings with investors, advisors, mentors and many successful entrepreneurs.

You need to make sure staff perform. But how do you know when you are hiring if someone will get in to the office at 5:30 am and work like someone is whipping their back till 10 o'clock at night? How do you know that, even if they turn up at 10 am and head home at 4 pm, that they are better than the "slow burner" who works all hours under the sun, as candidate who works less hours may be super efficient? References?

Yeah... right.

An analogy of Fake Steve Jobs' management advice.

Fake Steve Jobs (Daniel Lyons) raises an interesting question; where does creativity come from?

MBA students may argue the case for good management, media agencies may argue the case for the type of environment employees inhabit and musicians may argue the case for LSD.

So who's right?

Listen to advice. You don't have to take it, but it can't do any harm to listen to other people.

"The first time someone calls you a horse you punch him on the nose, the second time someone calls you a horse you call him a jerk but the third time someone calls you a horse, well then perhaps it's time to go shopping for a saddle." The Rabbi, Lucky Number Slevin

Lots of people say that persistence and dogged determination are defining characteristics of a successful entrepreneurs. Often they say you can emulate this and if someone says you are wrong that you should push on regardless.

I'm not saying professors, angels, VCs, veteran entrepreneurs are wrong...