Since unicorns — valued at more than $1 billion — are given valuations based on the promise of future growth, it’s not surprising many never live up to their potential.
In Entrepreneur Magazine, guest writer Daniel Neiditch highlights five major pitfalls that prevent unicorns from actually living up to the hype.
“Lofty goals are an important thing to have,” he writes, “but your business can’t be based on something you’re not ready to deliver.”
As the vital cogs that keep a growing company’s engine moving, it’s important to value the contributions of your employees.
Be patient. Don’t give into the temptation to spend like a big company.
Be honest with customers (and employees too).
A great idea is one thing but you need to prepare for the competition you will almost certainly face down the road.