(via Scoble) Entrepreneur.com posted an article title, "What Not to Do."

[John Osher] came up with an informal list of "16 Mistakes Start-Ups Make"—since expanded to 17—that has been used in a Harvard Business School case study, has been cited in many publications, and has become a part of what he teaches budding entrepreneurs in his frequent university lectures.

On page 3 near the bottom, you can find 5 tips for success.  I liked #2, hire the best people available at the time.