20 Entrepreneurial Insights for Success

Running a small business can be a lonely thing and getting good advice is key. Sometimes just knowing what’s worth pursuing or not is all you need. Sometimes it’s just getting started.

Here’s a list of short and simple advice for entrepreneurs given by entrepreneurs.

  1. Establish a strong network –whether it’s friends or people you pay –or beter yet, a mix of the both. It’s impossible to be ‘all things’ to your business. Have great ‘go to’ people for information, advice and feedback.
  2. Execute your ideas
  3. Finding funding and becoming popular do not make a business. Profit makes a business. Make money.

    Eat your young

    Glen Lipka, http://commadot.com

  4. Learn to eat your young. If your plan isn’t working, get a new one. It doesn’t matter if it’s your baby. If something better comes along, eat the old and embrace the new.
  5. If you launch without feeling slightly embarrassed, you’re probably too late.
  6. Equity is like manure, if you pile it up it just smells bad. But if you spread it around, lots of wonderful things grow.
  7. Only consider advice and guidance from people who have started businesses – either successful or failed, doesn’t matter.
  8. You are not a business until the customer pays you. Until then it’s a hobby.
  9. It is easier to sell medicine than it is to sell vitamins.
  10. Learn public speaking.
  11. Hire people who are smarter than you are.
  12. Never be afraid to ask for help or advice, and heed it.
  13. A goose that lays golden eggs is worthless if you have to feed it diamonds.Goose laying golden egg
  14. Stop romanticizing the idea of a startup. Put a game plan together and just do it.
  15. Just because you trust someone, doesn’t mean you can depend on them as well. Trust and delivery can be two different things.
  16. What’s your unfair advantage?
  17. When the road ahead seems too long, look back to see how far you’ve come.
  18. Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did.
  19. You can’t make money and excuses at the same time!
  20. Just because something doesn’t do what you planned it to do doesn’t mean it’s useless. -Thomas A. Edison
  21. Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t. -Anonymous

Source: Quora

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