Wednesday, March 13, 2013

Some advice for entrepreneurs at the first phase of their journey

So i write alot about ideas and innovation in entrepreneurship and clearly that is my passion. And i meet so many people who have great business concepts. Some only have an idea. Some have more than an idea and developed prototypes. Some have gone beyond prototypes and actually sold something. This is still all part of the first phase of the life of an entrepreneur. For the early start entrepreneurs here is my sagely advice:

1. Nothing is going to come easily to you. You have to fight like a rottweiler to make it happen.

2. Not everyone will support you. This is not personal.

3. Your idea may just not be viable. If you haven't sold it in any form in 2 years chuck it in the bin please.

4. You should be working on more than 1 idea / concept at a time

5. But you also need to focus on the one's you are working on ( sounds like a paradox)

6. You may think about your business all the time but no one else does

7. When one door closes a bigger door will open

8. If people dont support you thank them kindly and respectfully as you may need them another day. Some people get angry and cantankerous and thus sever the relationships they should be keeping for the long haul.

9. You need to put your own cash in!

10. Your idea is not your baby, its just your idea or business. Real Babies are much more precious!