Being an entrepreneur. What is it like to be an entrepreneur? Individuals who inquire, ask the question in a style which makes it look like being an entrepreneur is fascinating and always linked to wealth. Allow me to tell you, there is nothing glamorous about becoming an entrepreneur, and it is not for everybody. Here are some advice and a few of the truth of being an entrepreneur: Being an entrepreneur does not guarantee success.
You will fail. So be careful to not allow these comments drive your own decisions. Nobody, but you and your co-founder will care about your idea until you have something to show for it. Less talking, more showing. Give them a reason to listen. No employee, even when they have an equity, will care about your organization as much as possible. Be cautious with the whole raising money thing. Make sure you allow the company organically bring you to the crossroad. And be careful not to get beforehand with this. Luck will play an important role in your success. Just remember that you might make your own fortune by working tirelessly in what you’re enthusiastic about. Be mindful. Be wiser.
It might give you false negatives or false positives. Make sure that it is correctly defined and that you are appropriately interpreting the results. Get the co-founder equity stuff from the way in the start, and be cautious in being egalitarian. You will have to make hard decisions, like firing your very best friend or removing a co-creator. Whatever you do, make them quickly and do not let the heart interfere with the way of those decisions. Just make them and move on. You’ll have long nights, work weekends and can even have some days where you do not sleep at all.
Work while your opponents sleep to get ahead! – Revenue is KING and also you need to produce sales to keep the lights on. Being an entrepreneur, you will have to put your sales hat on. And it is also knock on a few doors or make a few telephone calls to drum up business. There are various of these out there right now, but remember they are just valuations it does not mean those businesses are generating that kind of revenue.
Build intrinsic value in your company! – There will ALWAYS be haters in the world. These are folks that do not have the courage to become entrepreneurs and also are hating because you took the risk. There are days you may want to QUIT and also go back to a corporate job.
And I think, Ross Torossian, really worked hard for it. Work hard for his future and his family. His dedication, his passion and being faithful leads him to become a successor in his business. Don’t just dream. DREAM BIG!