Entrepreneurship · Advisors

What is your best advice for first time entrepreneurs?

Alejandro Cremades

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 :)

David Evans Fractional CTO and 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.

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. 

Stanford Crane Founder at Cyber Security Incubator

August 28th, 2016

rock it

Ansar Hafil Business Consultant at Winning In Business

August 30th, 2016

Do your homework (market research) to make sure your product / service (solution) solves a market need and you are competitive versus the completion.

You have clear long, medium and short term goals with action plans.

Have somebody you trust to discuss the business when things get challenging, because they will. 

Nakeisha Turner Social Engagement Strategist | Creative Marketing Innovator

August 28th, 2016

Bounce back

It's all about how you bounce back from disappointment and defeat and things not going your way. Because that's a part of the trial and error process of being an entrepreneur 

Erik Panu Corporate Vice President at Cadence Design

August 28th, 2016

#Listen2Customers

Chuck Bartok Marketing and Sales Manager at MD Building Systems of Florida, Inc

August 28th, 2016

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

Michael Meinberg Teacher (iOS Development) at The Mobile Makers Academy (A Hack Reactor School)

August 28th, 2016

Plan on no income for the first half year to a full year.   Be flexible:  Your original business model may not work, if it doesn't, learn from that and adapt it. 

Mauricio Garcia Jacques Idealist bordering naivety with medical background

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



Jeff Perlman CEO helping all your business apps get along. OneSaas. Now everyone's happy.

August 28th, 2016

When you take that leap of faith do so with the knowledge that there is no safety net like you may have enjoyed in a corporate environment. Learn how to fly quickly our the bottom will approach rapidly. Almost every first time entrepreneur I know has either hit the bottom hard or come very close before finding their wings. And nobody knows how to fly when they first take that leap even if they believe they can. Be ready to fail, learn and try different approaches very quickly. Terminal velocity does not wait for you to over-deliberate.