Many entrepreneurs struggle. Some fail, yet some entrepreneurs succeed beyond their wildest dreams. What is the difference? What is the one key success factor that separates the winners from the losers? The winners are almost always great communicators.
Success can be measured in many ways, but my goal has been to teach them to become serial entrepreneurs – persons who are capable of creating not just one startup business, but capable of starting many healthy businesses throughout their careers.
Becoming a good serial entrepreneur involves learning the ability to do the following 5 things.
The process of creation that an entrepreneur can experience is amazing. One minute you sit there with two empty hands and a head full of ideas. In the next moment your thoughts have been converted to real things and you have your hands full of value and new opportunity. It is like modern day alchemy – the ability to turn common objects into gold. Dare to dream. Dare to dream big dreams.
If you are running a startup business, then it is likely that you don’t have a lot of money or a lot of time to waste on unnecessary marketing and sales efforts. It’s like being deep in the jungle when you are tired, hungry and only have 1 arrow left. You must select your target very, very carefully before you take your only shot.
What is it that really motivates you? What is it in your life that gives you energy and inspiration? What gets you up early in the morning or keeps you awake sleepless all night? Finding true inspiration is crucial for an entrepreneur.
What motives you as an entrepreneur? What is the real reason that you are willing to work long hours 7 days a week with low pay, few colleagues, no flashy benefits, no fancy office, no job security, and the constant risk of failure staring you right in the eyes? Are you crazy, reckless or just stupid?
Why do so many early-stage technology companies struggle? One reason is that they fall in love with their technology. Don’t fall in love with your technology. Fall in love with your market. Your market will last for many years. Technologies just come and go.
Being an entrepreneur is sometimes a curse. The demands are crazy and the effort required is nuts… But the rewards and benefits can be a blessing.
We all have 2 different minds. One is logical, the other is emotional and they don’t always agree with each other. Sometimes they will do whatever they can to sabotage each other. This can be useful for entrepreneurs.