16 New Rules of Business

Entrepreneurs are nothing if not a trailblazing bunch, and they know firsthand that many rules were made to be broken. From hiring to time management, email etiquette to funding, today's business owners are tossing the guidebooks. More and more businesses these days are even breaking the (former) cardinal rule of business — don't start a venture with friends — and seeing success.

We spoke with a handful of entrepreneurs about their approach to business — and the rules they broke along the way.

1. Hire outside the box

"I have learned over the past eight years that it is better not to hire someone with 'industry experience,' particularly when your product and business model is a disruptor. People with industry experience have been trained to approach growing a brand, going to market, and selling in the same way that all big incumbents have. When you are a disruptor, you purposefully need to think and act differently — to see the opportunity where others haven't looked. It is true in how you talk with your consumer, how you make your product and how you go to market. I have found that people from the industry have a very difficult time thinking another way." — Read more...