A Quote by Gil Penchina
A mistake I've made is investing in my idea rather than the entrepreneur's. Sometimes I'm excited about an idea that is similar to the entrepreneur's idea - but not the same. A smart entrepreneur will convince me it is the same, until I write a check!
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You can be entrepreneurial even if you don’t want to be in business. You can be a social entrepreneur focused on the not-for-profit sector. You can be an agriculture entrepreneur if you want to change how people think about farming. You can be a policy entrepreneur if you want to go into government. The idea of an entrepreneur is really thinking out of the box and taking risks and stepping up to major challenges.
A good idea is not enough. It must be the fit of a particular idea for a particular entrepreneur and, ideally, unfair advantages in why said particular entrepreneur is going to address said particular idea.
You can't get anywhere without incredible passion, because if you're an entrepreneur, there's gonna be a lot of bumps in the road. A great artist has to do their art. There's nothing that can stop them from doing it. They just have to get it out there. It's the same thing for an entrepreneur. If you don't feel that way, then you're probably not really an entrepreneur.
"Why is the creative entrepreneur the riskiest type to be?" I asked. "Because being creative means you are often a pioneer. It is easy to copy a successful and proven product. It is also less risky. If you learn to innovate, create, or invent your way to success, you are an entrepreneur creating new value rather than an entrepreneur who wins by copying."
An entrepreneur is not what you call yourself, it's what someone calls you in recognition of what you've achieved. I call Richard Branson an entrepreneur. Rupert Murdoch called me one. Anybody who stands up and says: 'I'm an entrepreneur' needs shooting. You'll drive people crazy.
The most important job of the entrepreneur begins before there is a business or employees. The job of an entrepreneur is to design a business that can grow, employ many people, add value to its customers, be a responsible corporate citizen, bring prosperity to all those that work on the business, be charitable, and eventually no longer need the entrepreneur. Before there is a business, a successful entrepreneur is designing this type of business in his or her mind's eye. According my rich dad, this is the job of a true entrepreneur.
Good entrepreneurs can manage, but no one but an entrepreneur can entrepreneur, let alone help build and lead the world's community of leading social entrepreneurs and their top business entrepreneur allies.
I have definitely learnt in business that when you have a smart, engaged entrepreneur with good judgement they can really drive even a mediocre business forward so to me the entrepreneur is very important.
What is the most powerful lever you can imagine? A big idea, but only if it's in the hands of a truly outstanding entrepreneur. It starts with the person and the idea, and then grows to the institution. All three are intertwined.
For a first-time entrepreneur, there's nothing better than being in Silicon Valley because there is so much going on, and there's such a large number of inventors, that even a B level idea or a C level idea could be nurtured and be given venture capital there.
"No one is doing what we're doing." This is a bummer of a lie because there are only two logical conclusions. First, no one else is doing this because there is no market for it. Second, the entrepreneur is so clueless that he can't even use Google to figure out he has competition. Suffice it to say that the lack of a market and cluelessness is not conducive to securing an investment. As a rule of thumb, if you have a good idea, five companies are going the same thing. If you have a great idea, fifteen companies are doing the same thing.
There is nothing more powerful than a new idea in the hands of a social entrepreneur
Seeking an acquisition from the start is more than just bad advice for an entrepreneur. For the entrepreneur it leads to short term tactical decisions rather than company-building decisions and in my view often reduces the probability of success.
Your biggest challenge as an entrepreneur is not concealing your idea from others or keeping your idea a secret, it is actually convincing people that you're not crazy and that you can pull this off.
Seeing the world around you clearly is a critical step in developing an idea for a business, carrying out that idea, and then thriving with an ongoing concern. Through choice, predilection, lack of education, impatience, or other causes, the entrepreneur lives, in a way, outside the mainstream.
A social entrepreneur is somebody who knows how to make an idea reality.
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