Entrepreneurship · Advisors

What is your best advice for first time entrepreneurs?

Alejandro Cremades I am driven by solutions to very complex problems.

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 :)
A great idea is 1% of the work. Execution is the other 99%. In this course, we’ll teach you how to conduct market analysis, create an MVP and pivot (if needed), launch your business, survey customers, iterate your product/service based on feedback, and gain traction quickly.

David Evans Angel Investor

August 28th, 2016

Don't quit your day job!

1) You are your first investor.  Cash flow from operations can be used to grow rather than cover your costs.
2) Most startups fail. Having another source of income allows you to pivot when things aren't working
3) It will take longer to scale than you think...and more money.
4) The extra demands on your time will force you to focus on only what's important.  When you do leave your job, hopefully, keep that focus.

Chuck Bartok Social Media Consultant, Publisher, and Contrarian Curmudgeon

August 28th, 2016

Belief in self.
Ignore 90% of the "consultants" and act from within your 6th sense

Dida Clifton CEO and Founder of TheOfficeSquad.com

August 28th, 2016

Don't go it alone.  Use the wisdom of others BUT, and this is REALLY important; make sure those that are advising you have succeeded themselves.  There are a lot of people out there giving advice on success that have none. 

J Feeley Lead Gen Marketing & Sales Expert

August 30th, 2016

3 Recommendations from my experience...if you're in the tech space:
1) Phase 1 - Don't drive for perfection. Create a prototype that can be modified with a low amount of expense . DO NOT develop a final product before testing it with friends, family, and peers.  They will almost always speak the truth.
2) Phase 2- Launch as a beta, bring as many new customers on-board at the lowest price possible to generate " the forgivable sin" for anything glitchy.
3) Phase 3- Don't assume if you build it "they" will come. "They" won't. Determine your marketing plan and sales channel(s) while in development. 
Good Luck!!

Thomas Sutrina Inventor at Retired Pursue Personal interrests and family

January 22nd, 2017

Lots of people have mentioned having passion. Passion is for hobbies, sports watching, and family it does not put a penny in your pocket. Passion leads to tunnel vision. The goal is to make a living and usually a great living. If thing seem even a little off. Slow up or even stop. Find out why. You should be your own hardest critic. Do not go the other way and be a perfectionist to the point of excess, spend money without a gain for you or your customers. There is a balance.

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. 

Erik Panu Corporate Vice President at Cadence Design

August 28th, 2016

#Listen2Customers

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



Anonymous

April 13th, 2017

This is going to sound very weird. But ask her to meditate at least 20 mins a day. When you reduce the chatter of your conscious mind, your mighty subconscious has the opportunity to present you with ideas, information and problem solving. It comes in form of 'Aha!' moments.


Also there will be times when she will panic. When things won't work. But as she learns to quiet her mind and go within, there will emerge a surreal sense of 'Knowing'. With experience of course.


Not to forget health benefits like blood pressure. Not the advice you were expecting I'm sure. :)

Reda Ennaciri Mechanical engineer and software engineering

April 21st, 2017

Never give up , expect the worst, hope for the best