The Social Network movie, the story behind Facebook, might have inspired many coders and entrepreneurs to start another big venture. In addition to inspiration there is a lot to learn as a businessman from the movie.
1. Hide your ideas: As the movie shows the social network is not Mark Zuckerberg’s idea. It was stolen from Cameron & Tyler Winklevoss and Divya Narendra. Never unleash your complete idea or core idea in front of anyone. Always present idea in modules/parts if you need to share.
2. Hire a CEO: When you are not having experience of managing, better hire a CEO. Saving money and not hiring a CEO may flop a strong business idea. Google founders also hired a CEO to expand Google business. [Movie: In the movie CEO was Mark but planning and execution was done by Sean Parker]
3. Experience Matters: You might not agree with ideas of an experienced person, may be you have own different views. But don’t ignore ideas of an experienced person. [Movie: Sean suggests to redirect 'The Facebook' to 'Facebook' and moving company to CA]
4. Read before you sign: A young entrepreneur might be over trusting people/partners. May be a sign don’t seem that important to him but it is. Always read or consult lawyers before you sign any little chunk of legal people.
5. Always pay salary: If you have enough money on hands (by loan or through primary investors) try to pay monthly salary, not shares of your start-up. Giving away shares may pain you later when venture is making huge profits. Remember shares are % sharing and everything will be divided in %. [Movie: Mark shared some % of site with Sean for investments. He could have hired some other person as a CEO for money instead.]
Last but not the least, Avoid girlfriend. It will give you time for productivity. Just kidding D-: