final entrepreneurship lecture
Post on 21-Oct-2014
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This is the final lecture I gave my entrepreneurship students tonight.TRANSCRIPT
Final thoughts
Follow your interests
• Work on things you’re passionate about
• Find others who are equally passionate
• Don’t be dissuaded easily
• Don’t be distracted easily
First who…then what
• Get the right people involved
• Get the wrong people uninvolved
• When you find a core group, protect it
hedgehog
• Passion, what you can do best, economic driver
• Let it filter out distraction
progress
• Measure progress incrementally
• Celebrate small victories
• Get something to market soon– Listen to customers
values
• Look out the window to apportion success
• Look to yourself when placing blame
• Embed some social element into all of your ventures
• Put family first
creativity
• Comes from activity/motion
• comes from quiet
• comes from organization
• Keep your antenna up at all times– Write your ideas down
Business
• Get your affairs in order (banking, taxes, business structure) early
• Remember your equity is your most valuable asset (give it away grudgingly)
• Get in the habit of immediately asking who the customer is
• Pay one vendor on time ALL the time
confidence
• Create a mantra for success (“I will succeed”)
• Don’t be fooled into thinking that people know what they’re doing– Be confident enough to risk and smart
enough shift
negotiation
• Don’t talk too much
• Let the other party talk, you listen (they will give themselves away)
• Don’t do deals that you wouldn’t take the other side of
Execute
• Create something worth executing• Set goals• Communicate the goals• Measure the goals weekly• Establish a single point of responsibility• Follow through until it’s done or irrelevant• Reward achievers• Establish a culture of execution• Be honest about your efficacy
More values
• Help people who cannot help you
• Help without the expectation of return
• Help many people
• Do the right thing the right way
• Pay back society
Keep in touch
• See my interests: www.9giantsteps.com
• Twitter: gah650