Friday, March 11, 2011

Key Takeaways from the entrepreneurial journey

Entrepreneurship is a long journey, some journeys get quick successes and others need to wait. Having worked with quite a few start ups and intending entrepreneurs, reading a bit about entrepreneurship; it is very clear that behind the success of any venture are numerous learning that come along the way. I was trying to read some blogs and posts etc that would back my thought process and I found one on the HBR site.

Here is the list of learning beautifully put together by a social entrepreneur:

  • You never know what the future is going to bring. So stop predicting your own failure. Your job is to take the next indicated step in front of you. Shorten your horizon. One day at a time. Don't think beyond these eight hours, unless you have to for logistical purposes. On your worst days, get through it one hour at a time.
  • Don't force your will on every situation. Don't think that you have to drive every pitch and every product to success. It could well be that the investor who says no was going to be your worst nightmare. And it could be that the obstacle that kept you from launching the product you were obsessed with gave rise to a better idea and transformed your business. A larger intelligence than your own may be at work: Let it do some of the heavy lifting. Its imagination may be infinitely more creative than your own. Steve Jobs didn't invent the iPod. Someone brought it to him.
  • Don't let your feelings interfere with your commitment. You may not "feel" like going out and making another pitch. You may feel too depressed to draft the next iteration of the business plan. But what difference do your feelings make? Do what you have to do regardless of how you feel about
  • Lean on your partners. Don't be afraid to tell them when you're having a bad day, or when you feel like giving up, or feel like a loser, or are in a state of total despair. Feelings are temporary. They're unstable. They pass. And they pass much more quickly when they're shared.

Thanks Dan for those valuable wording clearly encapsulate what an entrepreneurs focus has to be.

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