What follows is a random collection of tips, observations and ideas for those who are contemplating starting up their own business. If you can find one nugget in the list that helps you as you begin your journey, great. If you cannot find a single usable thing,–well, as Steve Martin used to say, ”Well, excuuuuuuse me.”

This list really started because no matter how much one studies entrepreneurship, a lot of it comes from the “learnings” that happen daily. Most of these learnings are counter-intuitive, meaning they are not all that obvious. All of them were expensive to learn.

This is the fourth installment, for tips 51-60, click here.

61. Better to be OCD, than ADD. We have all worked for, around or under bosses who had bad cases of ADD, Adult Deficit Disorder. They can be so random that many cannot follow their train of logic or directions. First, how about those Vikings? If you are to have a disorder, it would be best to have OCD, obsessive-compulsive disorder. In fact it may help you, word is. I have not yet met a successful entrepreneur that wasn’t compulsive about something. Have you? Have you? I mean, really, have you?  The worst boss, according to Dennis Miller, is one who is both ADD and OCD.  He moves from project to project, whatever gets his attention…but then he gets really focused on it, until the next project comes along.

62. Shiny pennies. Invariably this happens to the new startup guy. A new hire is made and then, all of the sudden, this new ‘blood’ captures your interest, imagination and focus. I have personally made this mistake more than once.  It is a very easy trap to fall into, believing that a new person on your team has all the answers, badabing-badabing. Chances are  he doesn’t, and in the time it will take you to recognize this, you will have alienated your existing team. Be excited about new people but make them prove themselves. Dance with the one you brought to the party.

63. People who say they can raise money for your startup usually can’t. I don’t care how smart, connected or rich their friends, this almost always does not work. This is your job. Talk to them, yes, but never stop raising money your own damn self.

64. When you are forming the business, do it the simplest way possible. If you are raising money from outside investors, use common stock, not preferred. Use an attorney to get the paperwork done correctly. There are no shortcuts to this–a necessary, but ass-saving requirement.

65. Explore every possible sales channel. One of your jobs is to understand how your industry takes products to the market. Basically, there are two methods–direct channels, meaning you sell directly to the customer; or indirect, meaning your customer is a dealer, distributor or agent who, in turn,  sells your product to his customer. You can sell via both channels but it is more complicated and requires product differentiation, perhaps, and a keen awareness of pricing issues. When we started Insignia, we didn’t know which channel would work for our new sign maker for retailers. We literally tried and tested several channels (dealers, independent reps, private label accounts) before deciding to focus on direct sales, over the telephone.

66. If you feel inadequate in a certain discipline, hire up. None of us can be good in every single area of a business. If you are not especially good at accounting, hire someone that is very solid and strong in that area. No one will fault you if you are not the best in that area, they will fault you if you try to BS your way through these issues. Your job is all about building a team to execute a well defined plan. After raising startup money…that is it.

67. Be wary of consultants, headhunters and every other outsider who wants to “advise” you. I have paid for this lesson a LOT. At Insignia, I was seeking outside venture capital after investing a lot, for me, in the product development. I knew better, but when the potential new investor said they would only invest after their market research firm did a complete study, I said yes. The market research study cost us about $20,000 to complete and yes, you guessed it, they recommended that the venture firm pass on our opportunity. Shessh—like I had any choice at that point?…we HAD to make it work.

68. Do not do any advertising or promotion that is image related. Make your advertising pay its own way, with measurable, no-shit results. It is not about image or some advertising awards, it is about generating leads that turn into sales.

69. Test and roll, test and roll. This is a slight variation on the ready-fire-adjust theme but an important one. Break down almost any offer or product launch to a smaller, focused and measurable size. If you want to be the best asphalt paving company in the metro area, try your new business in one small suburb before you undertake a metro-wide ad campaign. Test a few variables to make your offer the best possible.

70. Never hire a quitter back. People will leave your company, chances are. No one is irreplaceable, it happens. But if they resign, do not hire them back into the company. It is a very, very tempting to do so…after all, you are a great person, and they made a mistake (they will tell you) in resigning, what have you. If you do, you have just signaled that your company has a safety net, and more people will leave to test the employment waters. Let it be known if they leave, that is ok, but they are not on the team now or in the future. The ONLY exception would be for Peace Corps volunteers or people who join the National Guard.

only 30 more, coming soon.