All professional athletes have coaches. No serious competitor would attempt to compete at peak level without one. So why do athletes need a coach? Is there a real purpose that the coach fulfills?
Have I learned anything after almost 20 years of doing startup companies? I try not to make the same mistakes more than at least 1 time. Today I sat down and decided to make a list of the most common mistakes that I (and other entrepreneurs) typically make.
Creating a painting or creating a business requires that you start with a vision, with a desire to do something, and with the courage to take action. The vision is not always 100% clear when you start, but by taking action – by taking the first step down a new path – you will open opportunities and discover new opportunities that you never dreamed were possible. My challenge to every artist and entrepreneur is to dare to take that first step.
Today I feel like Johnny Depp in the movie Alice in Wonderland, who plays the role of the Mad Hatter. An entrepreneur in an early-stage startup company has a lot of different hats to wear, and this can be enough to drive you stark-raving mad.
Abraham Lincoln was one of those people who refused to quit. We entrepreneurs have a lot to learn from history and from other wonderfully stubborn people.
Was it worth it to give 6 years to a startup? Absolutely! The real value is in what I learned, not in what I earned.
If you are an entrepreneur, then be bold. Don’t settle for a safe and easy startup. They usually die. Don’t be afraid to tackle the impossible and attempt to change the world. We need more people like you.
Visualization works surprisingly well for athletes and also with most other endeavors here in life. Whether you are trying to ski down a mountain, start a business or change something in your life, start with visualization. Create the future you want in your mind and the results will probably surprise you, just like a perfect ski run.
Solving complex problems is easy if you just start at the end
I have had 3 different calls this week from entrepreneurs asking about how to value their startup companies with early investors. How do you put a “fair” value on your startup company?