Entrepreneurship · Advisors

What is your best advice for first time entrepreneurs?

Alejandro Cremades Author of The Art of Startup Fundraising & Serial Entrepreneur

August 28th, 2016

A good friend is taking the leap of faith and starting her own business. Would love to hear your words of wisdom so that I can share with her :)

Joe Albano, PhD Using the business of entrepreneurialism to turn ideas into products and products into sustainable businesses.

August 28th, 2016

The biggest reason that startups fail is because they produce a product or service that no one wants. The best way to avoid this is to build, test, refine, and validate a business MODEL - not a business plan. 

Ran Fuchs Senior executive passionate about new tech.

July 23rd, 2017

1. Ask the right questions, listen carefully to advice, but form your own answers.

2. Don't run out of cash

Mauricio Garcia Jacques Frequently told to stop reinventing the wheel...frequently proving there are better ways.

January 18th, 2017

Read as many books as possible on successful and failed ventures and related material! so much to learn and helps keep up the motivation.

This is a brief list of my favorites so far: (please share yours!)

The intelligent entrepreneur

Street Smarts'

The Lean Startup

Grit the passion for success

Outliers

rework



Niraj Adhikari Project Associate at Youth Initiative and An Young Entrepreneur

July 18th, 2017

Don't be afraid to make mistakes.Think deep and give it a try. You either succeed or you learn.

Gabriel Radic 20+ years building product small and large

July 22nd, 2017

Do it. Pull through. Don't give up. It ain't over til it's over.


This first time will set your rhythm and define your approach to entrepreneurship.

James Muntu aspiring entrepreneur

June 10th, 2017

plan ahead first. Do not just leap into business hoping for the best. Have plan A, B, C and D

Daniel Cohen Technical CoFounder

July 19th, 2017

Build the right team. Building a great team Is the most Important part of starting a successful business.

Sean Commercial Strategy

July 23rd, 2017

A business is a system. The goal is to design a business that is flexible, but will produce predictable outcomes.


How to do it? That is the 64 Billion $ question!


Here are some tips:

1. Know your market - the customers and competitors. What problem is your product solving for your customers?Also, understand the PESTLE variables that will impact your business, but over which you will have almost 0 control.

2. Cash is king. Make smart decisions in this area. Aim to allocate cash to it's highest and best use, at a given time.

3. View employees as partners, but also understandthat at the end of the day you are the ultimate decision-maker. Build a team that is based on Support, Respect, and Accountability.

4. Leverage your investor network. They can help you not only with funding, but also industry savvy, and can connect you to experts in their network.

5. Understand the primary intangible assets you are leveraging to build your business: A. Network, B. Knowledge, C. Experience.

Erik Panu Corporate Vice President at Cadence Design

August 28th, 2016

#Listen2Customers

Francesco Lo Conte Founder & CEO of Esprow, a enterprise software FinTech.

August 8th, 2017

- Pick a big market. Seriously. No matter how good or lucky you are, a small market will stay small and limit your growth opportunity. Investors will shy away too.

- Do something you love. The amount of pain to go from idea to success is yet so incomprehensible to you that the only chance you have to make it is if you love what you do.

- Find a co-founder: If you are lucky enough to find a co-founder (implying someone you can reliably work with for the long term), go for it. I've done it solo and it is grueling. If you get sick the boat has no captain.

- Raise funds: better to own 10% of a 100MM company than 100% of a 5MM company.

- Hassle, hassle, hassle: shyness has no place in entrepreneurship (I mean the "real entrepreneurship" kind).