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May 06, 2009
Entrepreneur 101: Words of advice to a future Entrepreneur
Just because you want to become an Entrepreneur doesn’t mean that it is something that can just happen overnight. Once you make the decision to go out on your own, to believe in yourself and to chart the course of your own future, you have made the first of many steps to come.
You should know that being an Entrepreneur isn’t always easy. In fact for many of us, there are times when it can be a very hard lifestyle. The time you put into your work doesn’t always immediately turn into either success or profits. There will be ups and downs and sometimes more downs than ups. While failure is never an option, I have generally learned more from my own failures than any of my successes.
When someone is successful it is easy for others to quickly say “they got lucky” which in my book is just fine. What looks like luck to one person can be the results of years of diligent hard work and effort and energy by someone else. Don’t ever feel defensive if someone says you found success because you were just lucky. Say thank you and share a smile. :)
One of the biggest life lessons I have learned to date about being an Entrepreneur is that when things are not going well, these are the times when you need to be strong. And to not only be strong but to act strong too. This isn’t about being obnoxious or pushy but rather being humble and keeping a positive face on no matter what is really going on in your world and in your mind.
It turns out that when you are facing challenging times, you have a much better chance to turn the corner and to be successful again if you don’t tell anyone about the issues you are dealing with. Word travels fast. And in almost any industry there are no secrets.
The moment you open up to someone who you are trying to do business with your story, your actions may introduce FUD into your business relationship. FUD as in Fear, Uncertainty and Doubt. By staying strong and focused you have a better chance to maintain the status quo and move on and get yourself across to your next success without having to rehash stories which will only cause you mental anguish and distract you and the conversation you were going to have.
Lesson to be learned: Successful people like to do business with other successful people. Don’t do anything intentional to otherwise introduce fear, uncertainty and doubt into someone’s mind about YOU.
I have made the mistake of opening up and telling someone too much information about a personal hardship at a time when I was looking for a favor and a break from someone I had a business relationship with. Looking back, while I am not sure I ever could have gotten what I was trying to achieve, sharing my (sad) story at that moment only created a distraction from the reason that I originally called on the person and in the end nothing good came of it.
If you feel you must tell someone about what you are feeling and experiencing, tell yourself. Write yourself an email and capture the moment in time and you will then have a chance to go back to it at a future time. Maybe use it as a chapter in a book you may write one day. And if you are fortunate to have close friends and confidants who care about you and your journey and your life, well by all means share as much as you feel comfortable sharing. But do avoid the mistake of telling someone who otherwise doesn’t care about you or your journey or your life.
One more thing. Never be afraid to make a mistake. Sometimes a “good mistake” becomes someone elses big discovery and innovation and contribution to the world. Many of the things discovered during the past 100 years came not because someone was out to discover them but because someone was trying to do something else and their “failure” lead to the creation of a very good mistake.
So go out and be an Entrepreneur. And remember to drop by from time to time and share your stories and share your advise with others.
Tags: leadership, Entrepreneur, Jeff Pulver
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Please consider leaving a comment. Please feel free to share your experiences at being an Entrepreneur and what you have learned from the process. What advise would you offer to someone who is thinking about becoming an Entrepreneur for the first time?
Posted by jeff on May 6, 2009 09:15 AM | Permalink
Additional resources: #140conf events | Watch the Jeff Pulver Show | Jeff's Qik Videos
Comments
Jeff,
Fear of making a mistake is one of the biggest reasons why people don't start businesses. Often, friends and family will convince you that the risk of failure is too great, that you shouldn't risk a a colossal mistake. Even if their advice is well intentioned only you truly understand the possibilities for your business. You must decide for yourself. Work hard. Work smart. And you just might mistake your way into something great.
Posted by: Douglas Cullen at May 10, 2009 11:55 PM
@Deepak - with regards to detractors (i.e. those people at parties that are always skeptical about you and your business), the advice Jeff gives here is excellent. Don't give away too much. Even if you're having a bad month, it's not necessary to talk about it. When people ask you how your business is going - say "terrific! I'm really enjoying the process, learning a lot and things are very busy and exciting!". Nobody can question that kind of enthusiasm.
Thanks Jeff for reminding me that up or down, it's all part of the journey.
Posted by: Susan Murphy at May 10, 2009 09:49 AM
Interesting post.But what I find as the biggest problem being an entrepreneur is how do you reach a community to get them involved around your new service... still trying to figure that one out.
Posted by: Gil at May 9, 2009 01:09 PM
No sad stories here:) just perseverance and creative networking. www.AskaNewYorker.com is making progress. Thanks Jeff for all your words of wisdom.
Posted by: kennedy at May 7, 2009 09:07 AM
Very interesting post, to be honest I have never heard too much about it. But now at least I know a deeper insight about it. Thanks!
Posted by: Bali villas at May 7, 2009 03:40 AM
Jeff,
Your words are very true. Being an entrepreneur is a mighty challenge in itself. Choosing your words carefully is much more important.
What I find amazing in my experience as an entrepreneur is that many people including your own friends start to question your every move. It almost seems like they want to play both sides of the fence. For one, they want to be your best friend if in case you succeed, but also want to be the one to say "I told you so", when you are faced with challenges. So at social gatherings, you are constantly questioned in a quizzical sarcastic tone, digging into the details of your project. In a way they are doing due-diligence and then follow that with a witty remark. I don't mind if people question the concept or ask pertinent questions about our vision, goals and the markets etc., but they are not.
Now I know why some entrepreneurs hide during the time they are building a company from scratch. It almost seems like you'd be better off with one less distraction. I got this line from http://www.twitter.com/vctips about Larry Page's commencement speech advice for the entrepreneur, that said, "have healthy disregard for the impossible".
In ending I want to quote Thomas Alva Edison who I believe said, “I haven't failed, I've found 10,000 ways that don't work” and also “Opportunity is missed by most people because it is dressed in overalls and looks like work.”
Good Post Jeff.
Posted by: Deepak Das at May 6, 2009 09:36 AM
Nice read here. The one thing I would like to share with any Entrepreneur is to be careful who you work with. I try to do research on people I want to work with. Sometimes I take a chance on someone new.
I was working with a website developer, super great guy and good at what he does. BUT he was slow and hard to get a hold of when I needed chances. I normally cut people off right away, this time I didn't. I tried to be a good guy and help him out and in the end I had to cut him off and i wasted about 3 weeks of my time dealing with him.
Long story short when you get a bad feeling about working with someone, give them one chance then after that pack your bags and save yourself the head ache.
Again nice post Jeff
Owen JJ Stone aka Ohdoctah
Posted by: Ohdoctah at May 6, 2009 09:22 AM
Jeff, this is an interesting post. Generally it is hard for me to understand or relate to your world. I feel this post is about a particular situation you experienced, perhaps recently.
You are right, there is an unspoken doubt that could be lethal.
But at other moments you have spoken about the need to be vulnerable. And I heard you say things that people try to hide openly.
And than this new media thing where you admit mistakes publicly and move along. I know these are different things. Just trying to absorb your message.
Posted by: Ben Atlas at May 6, 2009 09:18 AM