A Quote by Peter Diamandis
Passion gets an entrepreneur through the startup days and the enormous efforts it takes to build a business.
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If you have a strong business idea, then it is comparatively easy now to get capital. It is a positive thing that increasingly more people want to join the startup bandwagon. However, to build a successful business, focus on creating more value through the product, and direct your efforts on solving real issues. If you manage to build a sustainable product, revenue will follow. A lot of startups fail because they concentrate on incremental innovations, increasing user base, and monetisation before strengthening the core of their business.
As an entrepreneur, the pressures of a startup can be enormous, but it's rarely life or death.
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.
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.
Passion. The life of an entrepreneur is occasionally exhilarating, and almost always exhausting. Only unbridled passion for the concept is likely to see you through the 17-hour days (month after month) and the painful mistakes that are part and parcel of the start-up process.
There's nothing wrong with a business that supports you and perhaps an extended family. But if you want to build a scalable startup, you need to be asking how you can you get enough customers/users/payers to build a business that can grow revenues past several $100M/year.
Successful entrepreneurs develop products that inspire their passion. They have to. It's that passion that gets them through the long, arduous, uncertain and frightening early days of a start-up.
I hate it when people call themselves 'entrepreneurs' when what they're really trying to do is launch a startup and then sell of go public, so they can cash in and move on. They're unwilling to do the work it takes to build a real company, which is the hardest work in business.
If following your passion to a place where there's no pain probably isn't the business, I don't think an entrepreneur can sustain in a place where you don't have passion.
We have always been a nation that has celebrated success of various kinds. The kid that gets the honor roll, the individual worker that gets a promotion, the person that gets a better job. And in fact, the person that builds a business. And by the way, if you have a business and you started it, you did build it. And you deserve credit for that.
The fight takes 15 minutes. The build-up takes 90 days. It takes that for a reason.
What an entrepreneur does is to build for the long run. If the market is great, you get all of the resources you can. You build to it. But a good entrepreneur is always prepared to throttle back, put on the brakes, and if the world changes, adapt to the world.
The goal of every startup experiment is to discover how to build a sustainable business around that vision.
About 10 million people start a business each year, and about one out of two will make it. The average entrepreneur is often on his or her third startup.
Entrepreneurship works on the apprenticeship model. The best way to learn how to be an entrepreneur is to start a company and seek the advice of a successful entrepreneur in the area in which you are interested. Or work at a startup for a few years to learn the ropes.
Before there is a business, a successful entrepreneur is designing this type of business in his or her mind's eye. According to my rich dad, this is the job of a true entrepreneur.
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