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MenuWho are some of the best teachers of entrepreneurship?
If you've seen some of the lectures of Reid Hoffman you'll immediately recognize him as one of them.
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There's only one answer to this question and it might sound pretentious: experience.
As you go along, you might find some of your experiences remind you of certain stuff other entrepreneurs have said but you will very often find yourself going your own way even if they advise against it. You may be wrong but then again, they might be wrong also.
The worst thing you could do is read or listen to too much of what others have done, in their own way, and try to mimic them, believing that the same things will work for your business as well.
Take the issue of time, for example. Depending on the stage of their entrepreneurial life, some will argue you should always find time for the gym and disconnect at least a day a week. Ask a 22 year old guy who's pulling in 20K/month, in his pocket, after 2 years of absolute dedication to work and he'll say disconnecting just for the sake of disconnecting is wasted time. Then again, someone who's a master of automating his business may tell you 2 hours / day will get you to the right place in no time.
Another example is sales. The world changes at a very fast pace these days. Better communication tools, better CRMs, globalization - the "rules" of who to sell to, where and how to pitch, the very traits that make your product worthy or not, they're constantly evolving. Whatever worked 2 years ago might still work today, but there could be a completely different way to sell that is faster, more cost effective and more in tune to your communication style. Waste too much time being taught about sales when doing a start-up and you'll be blind to your own instincts that may very well be revolutionary :)
My advise is to develop and nurture a mindset that allows you to adapt rather than imitate.
Of course, if you fell what I said is dumb and would rather be taught entrepreneurship, then that's what you should do. I don't mean that in a bad way. I really think you should follow your gut on what makes a great entrepreneur. Being successful by trying to be someone you're not will be less fun :)
Here's an article I wrote about a similar topic, "how startup news is killing your startup": http://thebottomofthings.com/6-reasons-startup-news-is-killing-your-startup/
Good luck!
Entrepreneurship cannot be taught. Specific skills required to run a startup can be taught but there is no better lesson than your own experience.
Happy to help you with specific questions but ultimately it's not the answers anyone provides you, it's your experience in applying that (or ignoring it) that informs what you do again and what you never do again.
You.
Seriously.
You can learn all you want from lectures, videos and books, but nothing compares to the real thing.
Surround yourself with the smartest people you can find, prepare to fail, embrace change and be bold.
One more thing. Find a true mentor. What do I mean by that? Above all, they need to be someone you trust and someone you can call at 2am when sh*t hits the fan.
Check this out to see what I mean: http://bit.ly/16TPkUH
Give me a shout if you want to chat, I'm happy to go into more detail.
p.s. Here are 15 TED Talks that will change your life (via Mashable): http://on.mash.to/18Iexqn
There is an old saying that one who know how to do things - does them, and the one who don't - teach how to do them. So be aware of all those professional speakers and presenters who are saying they could teach entrepreneurship. The real school is the actual world around. Go and try to be an entrepreneur! There are books and people who can assist in avoiding obvious mistakes... But very often you are still better off making your own.
I am not sure if it is the type of entrepreneurship you are looking for, but check out Fizzle.co
Related Questions
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I have this social media idea,but no coding skills. How do I get someone to do the coding (cant afford to pay them) and not give away half of my idea?
Dilip was very kind in his response. My answer might be a bit on the "tough love" side. But that's for you to decide. My intention, just for the record, is to help you (and those like you) on your path to success. And that starts with having a viable philosophy about entrepreneurial-ism and business. And I'm going to answer this because I get asked some form / version of this question very frequently from newcomers to entrepreneurial-ism. The scenario goes something like this: "I have a great idea. It's amazing, I love it, and I just KNOW it's gonna make me a ton of money. But I have no money right now so I can't afford to (fill in the blank with things like "to build it / create it / market it / etc" or "to hire the required staff needed to work in my business to sell it / develop it / etc"). And I don't want to tell anyone about my great idea because I'm worried someone will steal it and make MY million / billion dollars. But I can't afford to legally protect it either... So how do I launch without the skills to personally create the product AND no money to hire anyone else to do that either??" The answer is ... You don't. Look - let's be honest. All you have is an idea. Big deal. Really. I'm not saying it's not a good idea. I'm not saying that if properly executed it couldn't make you a million / billion dollars... But an idea is NOT a business. Nor is it an asset. Until you do some (very important) initial work - like creating a business model, doing customer development, creating a MVP, etc - all you really have is a dream. Right now your choices are: 1. Find someone with the skills or the money to develop your idea and sell them on WHY they should invest in you. And yes, this will mean giving up either a portion of the "ownership" or of future income or equity. And the more risk they have to take - the more equity they will want (and quite frankly be entitled to). 2. Learn how to code and build it yourself. MANY entrepreneurs without financial resources are still resourceful. They develop the skills needed to create what they don't have the money to pay someone else to do. 3. Get some cash so you can pay someone to do the coding. You'll probably have to have some knowledge of coding to direct the architecture of your idea. So you will likely still have to become knowledgeable even if its not you personally doing the coding. (This is not meant to be a comprehensive list of options... And I'm sure some of the other experts here on Clarity have others to add - and I hope they do) To wrap up - Here's my final tip to you that I hope you "get"... It's FAR more valuable to have an idea that a very specific hungry crowd is clamoring for right now - One that THEY would love and pay you for right now - Maybe even one they'd pre-order because they just have to have it - Versus YOU being in love with your own idea. [Notice I didn't say "an idea that some as-of-yet-undetermined market would probably love"] I wish you the best of luck moving forward.DB
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Whats the best way to find commission sales reps?
This is not my specialty, however, I have been in your position many many times -- maybe this will help. If the product is in-tangible, then look for JV partners on the Internet. Try to find an expert that deals with these JV opportunities (like me). If the product is physical, then look for sales organizations that have networks of sales people across the country. You do the deal with the organization and the independent network of sales people sells your product. It's a sweet setup if you can negotiate a margin that works for everyone. Hope that helps - Cheers - NickNP
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How can I smoothly transition from full time worker to self-employment?
The ways I've done this in the past are 1) Find some customers that are willing to hire you (or your product) but know that you'll only be free nights & weekends to support/work with them. 2) Find a "partner" (co-founder or other) that's got a flexible schedule that can help build the business while you're at work. 3) Block out nights, mornings and weekends to build the business till you have enough orders to cover 50% of your salary. This might mean 7pm-11pm most nights, and 4 hours each day Sat & Sun. Make progress (sales $$$) and momentum. All that being said, it's risk reward. Sounds like you want to avoid taken the risk, and I get that .. but the upside is always smaller. Unless you put yourself in a position to have to succeed (ex: quitting your job) then you may never make the scary decisions that are required to build a company (like cold calling, going in debt, making a presentation, etc). I'm on company #5 with many other side projects started nights & weekends .. so I get it - but don't be afraid to bet on yourself and go all in.DM
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If I have a business idea for a large company, how can I give it to them and mutually profit, without them just taking the idea and squashing me?
Probably not the answer you're looking for, but companies have so many unimplemented ideas that the likelihood of partnering to implement someone else's idea is really low. And besides which, the idea is not something that has much value in and of itself. If you're passionate in the idea, build it yourself. That's the only way you can have leverage.TW
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What advice do you give to a 16 year old entrepreneur with a start up idea?
First, hat tip to you for being a young entrepreneur. Keep it up! If you have the funds to build out your MVP, hire a developer and possibly a mentor. If your idea is marketable, you don't need to give up equity by bringing in a co-founder. If this is your entrepreneurial venture, I would recommend you do retain a coach to help you see all the things you may not know. Have you already done your SWOT analysis? Have you identified your target market? What is your marketing plan? What will be your operating expenses? There are lots of questions to ask. If you would a free call, I'd be happy to help you in more detail. Just use this link to schedule your free call... https://clarity.fm/kevinmccarthy/FreeConsult Best regards, Kevin McCarthy Www.kevinmccarthy.comKM
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