Will lists Martin Plaehn’s Quick Hits: Do’s and Don’ts of Entrepreneurship.  There are eight of each, all good, but the top three don’ts are worth repeating:

1. Don’t hire of goodness of heart or friendship
2. Don’t hire anyone who you and your team are not genuinely excited about
3. Don’t tolerated mediocre engineers; for that matter, mediocre anyone. An early sign of mediocrity is when you downgrade tasks and expectations to align with an employee

Good advice.  Thanks to Brad for the link.