Entrepreneurship is very risky venture that contains many challenges and common problems. The good news is that many other people have walked down this road and have shared their experiences. Luckily, first-time entrepreneurs have the chance to reach the wisdom of the people who have succeeded in this difficult venture, called entrepreneurship.
Entrepreneurship and action: You don’t know when to start your business.
“To any entrepreneur: if you want to do it, do it now. If you don’t, you’re going to regret it.” Catherine Cook
Don’t wait for the perfect moment to come to start working towards achieving your dreams. Start slow, start with what you have and be ready to face many challenges.
Entrepreneurship and the right ideas: You don’t have clear execution plan.
“It’s not about ideas. It’s about making ideas happen.” Scott Belsky
“Ideas are easy. Implementation is hard.” Guy Kawasaki
Even the most innovative ideas can’t be turned into successful businesses without good execution plans. Ideas are important, but what is more important is how you can turn these ideas into products and services that the customers really need.
Entrepreneurship and challenge: You are not willing to embrace the challenge.
“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” Henry Ford
Along your way to success you are to face many obstacles and difficulties. It is important how you react to them: If you take every difficulty only as an obstacle, you are to give up; if you take it as an opportunity, you are to turn them around and make the problems turn into opportunities.
Entrepreneurship and risk: You are afraid to take risk.
“If you’re not a risk taker, you should get the hell out of business.” Ray Kroc
“Risk more than others think is safe. Dream more than others think is practical.” – Howard Schultz
If you are not a risk taker, you are more likely to fail very fast in your business venture. Entrepreneurship is risky, but what is riskier is to give up on your dreams before you even try.
Entrepreneurship and persistence: You give up easily.
“It’s hard to beat a person who never gives up.” Babe Ruth
“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” Steve Jobs
“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.” Biz Stone
Entrepreneurship requires constant hard work and a lot of effort. Never give up on your dreams and be persistent in your actions.
Entrepreneurship and funding: You think money will start to rain immediately.
“Don’t worry about funding if you don’t need it. Today it’s cheaper to start a business than ever.” Noah Everett
“It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.” – Richard Harroch
Securing finding is one of the most important topics for entrepreneurs. Plan for it and be prepared to hear “No” more than you have ever expected. Eventually you will hear “Yes” and you will understand that finally you have met someone who believes in your startup as much as you do.
Entrepreneurship and failure: You fear failure.
“I have not failed. I’ve just found 10,000 ways that won’t work.” Thomas Edison
“Success is walking from failure to failure with no loss of enthusiasm.” Winston Churchill
You will fail. This is the only sure thing in entrepreneurship. Be prepared, do your best, but, more importantly, appreciate the failure as a valuable lesson.
Entrepreneurship and leadership: You don’t think leadership is important.
“Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others.” Jack Welch
“Leadership is lifting a person’s vision to high sights, the raising of a person’s performance to a higher standard, the building of a personality beyond its normal limitations.” Peter Drucker
“Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes.” Peter Drucker
Leadership: The skill of all successful entrepreneurs, great team leaders and motivators. Being a good leader is what makes every entrepreneur successful startup owner. Embrace your inner leader and be ready to lead your team and company to success.