"8 things I wish I knew before starting a business"

Here are lessons for start-ups, from Don Rainey, a general partner at Grotech Ventures.

Summary:

1. Things take longer than you imagine.
2. Items that succeed tend to do so quickly.
3. People will let you down.
4. Good employees are really hard to find.
5. Your bad employees rarely quit.
6. You will be lucky and unlucky.
7. Avoid the myth and misery of sunk cost.
8. Fill the pipe, always.

#7 seems to be the same as #2, but you can read the full article yourself.