JAN 2015
A SUCCESSFUL ENTREPRENEURS' ARSENAL
Know your market.
Work 24x7 and wear lots of hats.
Most entrepreneurs are good at something and they
If you think you have what it takes to run a startup, get
want to turn it into a business. Unfortunately, they
ready to work 24x7 and wear all sorts of hats. And
don’t know the business side. They just think that, if
everyone you hire should be motivated to do the same.
they do it, it will sell. Unfortunately, that’s not how
It comes with the territory. If that workaholic energy
competitive markets work. You have to understand
level isn’t there, chances are you’re not going to make
your market, your competitors and your unique
it.
customer value proposition.
A recent, albeit limited, survey found that the vast
Have a strong leader with a solid team.
There are basics of project management and building
and motivating a team that every founder has to learn
to successfully run a venture. Unfortunately there is a
prevalence of startups with founders that have no idea
majority of Millennials think entrepreneurship is a
mindset that has nothing to do with starting or running
a business. Um … no. It has everything to do with
starting and running a company. And if you think it
doesn’t, you never will.
how to manage and enormous gaping holes where key
capabilities need to be all the time. Sad but true.
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