Can You Handle The Truth About Being an Entrepreneur?
If your company is struggling, or not progressing as quickly as you would like, whose fault is it? Yours. Yep. It is your fault. No one said being an entrepreneur was fair.
If your company is struggling, or not progressing as quickly as you would like, whose fault is it? Yours. Yep. It is your fault. No one said being an entrepreneur was fair.
Embracing the journey, the process of entrepreneurship and the desire to improve as an entrepreneur will be critical to your success.
Trust, candor, accountability and teamwork - are fundamental to success, especially in the dynamic environment of an entrepreneurial venture.
Understanding that no one cares as much as you do will actually enable you to make progress rather than spend time being disappointed.
One of the perspectives we must develop is the ability to clearly judge how ready the market is for your solution
A competitive analysis is a key step to understanding how you can win in an increasingly competitive world
Product differentiation strategies are the well-thought out and purposeful set of actions you take to highlight aspects of your product or service that are unique and most relevant […]
Entrepreneurs are in a constant state of hole plugging because you lack financial and human resources.
Since we believe that what we're doing is so unique, everyone will have the same perspective and want our product. And since it hasn't been done before, we think it's just a matter of time before we get into the market that our product will be at the top of everyone's mind. Wishful thinking.
Your vision is unique. Your problems are not. Once you accept this, you have a much better chance of bringing that vision to life with a strong business foundation under it.
What is the process of entrepreneurship? It is a challenging yet deeply rewarding journey that involves smart decisions about management, finances and communication. The entrepreneurial process will teach […]
Learn the importance of making a distinction between the people that you do business with and those that you trust with your deepest, darkest secrets.
The daily pressure we're under makes it very difficult to distinguish between the right and wrong solutions to our needs.
When you are under and the constant presence of pressure, passion, pleasure and pain, you need to be better, faster and stronger. These rules will help you build a better product to serve customers, employees, investors and you.
Embrace the gift of growth and learning!
So if your company is struggling, or not progressing as quickly as you would like, whose fault is it? Yours. Yep, even when you work the hardest. You care the most. You put in the most hours. You are the most dedicated. You are the most passionate. It is your fault. No one said being an entrepreneur was fair.
If you enable others to do more, the benefits will be exponential. More focus on the right things. More engaged employees. More people that can bring their ideas to the resolution of an issue.
We feel that we are the only ones who know exactly how to get things done. This is a telltale sign of bad leadership. When you yourself do too much, you are setting your company up for failure.
Do you know the implications of a bad hire? Your team is the most important asset you have, and yet, for many entrepreneurs with young companies, hiring is the skill to which we devote the least time and discipline.
Don’t let anyone tell you there isn’t a way. Don’t let the established ideas, and traditional solutions make your perspective static and inflexible. You need to bring your creativity to change results. As an entrepreneur, you have the ability to see things differently than others.
One thing entrepreneurs often forget is that decisions made on day one can have huge implications down the road. You see, it's not enough to build a business worth a fortune; you have to make sure you have an exit strategy, a way to get the money back out. This is for those of you who like to plan ahead and for those of you who don't but should.
Do you know why every customer is NOT your customer? And why you shouldn't chase every customer? This intelligence is the key to your success.
Have you ever wondered why it always feels like no one cares as much about your business as you do?
Good cash-flow management means understanding every inflow and outflow of cash. In principle, you must delay every outlay of cash as long as possible, while incenting everyone who owes you money to pay it as rapidly as possible. Also, its about being vigilant about limiting any surprises such as unanticipated payment lags and unplanned-cash outlays. So how do you be proactive in managing cash? Here are some basic disciplines that every entrepreneur must understand and practice to optimize their cash:
When you're running about your day with a mile long "to do" list, it's unlikely you have the extra time to figure out how everyone is feeling about everything. To you - you're building a company, developing a product, raising money, trying to find resources and so on. You don't have the time to focus on the emotional state of being of everyone around you. This is where we make mistakes that stunt the progress of our business.