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.
Whether you are creating a business or creating an amazing life, you can benefit from thinking like an entrepreneur and by taking leadership.
Unfortunately, some of the most fundamental assumptions that we make about leadership may be wrong or over-glorified. A leader is just a lonely nutcase without followers. The first followers, not the leader, are the ones who take the greatest risk yet get the least praise and recognition. The first followers are the ones that teach other followers how to follow. How often do discussions about leading fail to discuss how to follow?
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.
Like most people, you probably spend a lot of time online, but how much of it is really a group experience. iPads in social situations change the game and allow groups to be online simultaneously. Expecially us nerdy guys. We were born for this.
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.
John Gray’s book Men are from Mars has the subtitle ”The Classic Guide to Understanding the Opposite Sex”. To Entrepreneurs, VCs might as well be the opposite sex. Most entrepreneurs don’t really understand them very well.
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.