This piece isn't designed to give you a business or entrepreneurial ideas. It's deliberately imprinted to educate you on some facts that makes a good entrepreneur.
Never make a product or service until after it has paying customers.
Timing is everything.
Don't be too rash to resign, keep your day job lest you become homeless.
Talk to customers or potential customers every day. Never outsource this to anyone else on your team. If you don’t get rejected 5x/day, you slept in too late.
Do everything yourself before you hire anyone. Hire slow and fire fast.
Hire people smarter than you and pay them before you pay yourself.
Let this be at the back of your mind-Your customers wish they never met you. You are an inconvenient expense on the way to solving their pain.
Be comfortable spending indefinite time alone. While you are broke, nobody will ever love you. Say goodbye to friends, family-maybe, weekends, holidays.
Note this-Nobody wants you to succeed. Nobody wants to steal your business idea. They are most often too lazy. If you are lucky enough to know other entrepreneurs, they are engaged with their own dreams. You won’t improve unless you discuss it.
Don’t be stubborn or defensive. If you want to succeed, make only things that your customers want to buy. They determine your product, niche and brand.
Don’t get investors. If you absolutely must because your product requires huge capital investment, choose more than just a wallet or you will feel resentful every day. Choose someone who already has relationships with your potential acquirers and a track record of large exits. Choose an investor who has been an entrepreneur. Ideally choose a high net worth individual in your sector over a traditional investor. If it takes too long to raise money, you don’t have enough customers. Even if it’s not your first rodeo, it’s rude to ask people for money without customers.
Make a to-do list every night before you sleep. You cannot have any food the next day until the most uncomfortable and heinous tasks are crossed off your list. On the rare occasion you can sleep 6+ hours, you might consider a sleeping pill. Your cortisol levels will be through the roof every hour of every day. Also, you must exercise. If you gain weight you appear out of control and dishevelled and it will be harder to sell yourself.
Always remember, who ever you become is your fault
You'll have 60 seconds to answer each question.
Time's Up
Your fingernails and hair keep growing after you die
Yea
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