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Best Advice for Young Entrepreneurs

Eric — Sun, 07 Feb 2010 05:38:01 +0000

We’ve assembled some top tips for young entrepreneurs from a few of our dedicated members.

We asked them: What would be your best advice for a young, passionate entrepreneur or would-be entrepreneur?

Create a backstage process. Write down all the steps that it will take to give your customer the ultimate experience. Natural sales people tend to “do” what they “know” intuitively, without getting into a well-defined process. Building a process allows for: consistency, duplication, organization (of staff), enhanced service, and quick fixes because you can pinpoint errors.

Ricardo Robles – Founder, Capsity Offices

Focus on building strong relationships and learn how to leverage them. It doesn’t hurt to know angel investors, venture capitalists, attorney’s, insurance brokers/agents, real estate brokers, etc. It’s also key to look at building relationships with successful entrepreneurs and have them as mentors.

Laurie Hawkins – Focal Point Coaching

Ensure that you have a “flight plan,” and then execute on that plan. Leverage all the available resources that are available to you – do not let that EGO have a position on your company!

Karl Allen-Muncey, CuteGecko Design Agency

“Eighty percent of success is just showing up.” Network, get involved, and follow through! Networking is about creating relationships and a reputation. Go to community events, and assist other entrepreneurs where possible. This process will cultivate your reputation and exposure as a valuable provider.

McKenzie Scott, Young Entrepreneur

As a young entrepreneur, nothing comes easy. In this stage, persistence is key. Make sure that you are selling your business in a sense that you actually UNDERSTAND what your customer wants. Cater your product/service to the customer’s specific needs rather than having a one-size fits all solution.

Ben Yoskovitz – CEO/Co-Founder, Standout Jobs

First, have a mentor (or two, or three). Find someone that has “been there, done that”. Once you’ve found them, use them. Second, get involved in the startup community. There’s no excuse for not getting involved, participating and networking.

Ashley Bodi – Founder, BusinessBeware.Biz

Never give up! It’s so easy to feel like you’re defeated when trying to start up a business, but don’t let that stop you. You’re going to have ups and downs but it’s what you do with the things that get thrown at you that makes you a better entrepreneur.

Ben Walton – Founder, Tiger Networks

Systemize everything FIRST. Run by the numbers, go faster than everyone else and don’t buy “toys” for your business until you sell up!

Janny Ke – Founder, The NOW Organization

Enjoy the adventure with courage, passion, and perseverance.

With Scant Jobs, Grads Make Their Own (online.wsj.com)
Keys to Entrepreneurial Success (weatherby.net)
Get the Right Support for Your Startup Now (startupprofessionals.com)

It’s All Your Fault

Natalie — Wed, 04 Mar 2009 02:23:39 +0000

I met with a very successful entrepreneur to ask her some questions. We talked about what it takes to run a business and she shared with me what she considered to be the biggest lesson she has learned from one of her mentors. That lesson is that everything is always your fault. She told me about a situation from when she was working for her mentor’s company and she was responsible for leading a team. One member of that team was not putting 100% into their work and it resulted in a very disgruntled client. She was mad at the team member who did not complete their share of the work and she expressed her frustration to her mentor who told her that the whole situation was her fault. Shocked, she asked how it could possibly be her fault, to which the mentor replied, “It’s your fault because you were leading the team. You must not have made the resources available to your team.” Then the mentor told her to get on the phone with the client and tell them it was all her fault and then work the whole weekend for free to fix the situation. In the end, the team member found out she had taken the blame, apologized, and started working twice as hard. She said that taking the blame was hard but it was the right thing to do and it taught her the most important lesson she has learned so far.

Taking responsibility and doing what you can to make the situation right is the most professional thing you can do. It’s always easy to place blame on someone else. It isn’t easy to accept blame though- especially when what you’re accepting blame for isn’t entirely your fault. After you’ve taken the fall, pick yourself back up and don’t miss the chance to learn an important lesson. Remember, “a man may fall many times but he won’t be a failure until he says someone pushed him.”

Technorati Profile

The Real You

Eric — Fri, 13 Feb 2009 23:20:59 +0000

While contributing and becoming actively involved in online communities, it is difficult at times not to try and connect with anyone and everyone. It seems like everyone has an interesting profile and all members are working on projects that seem interesting. There are literally hundreds of thousands of people that you can learn from on the internet, whether it is from reading blogs or actually messaging these individuals; but here is the challenge: How do you open yourself up to others while maintaining your true sense of self?

This challenge stands true not just in online communities but in real life. It’s easy to message someone after reading one blog post and claim that you have a connection. It’s simple to give individuals a bit of a background on your projects in hopes that they’ll be willing to offer advice/help you out. But remember, do it in a genuine way. Don’t fake who you really are, or play the sympathy card. Often, maintaining who you really are, while showing a bit of vulnerability will encourage others to help you.

The reason I write this is because I’m experiencing this paradox on a daily basis. I’m trying to rally my personal contacts, reach out to mentors and gain the support of strategic partners all while attempting to maintain who I really am, and staying true to my reasons for running my business. It’s a constant balance, but one that I’m gradually figuring out.

It’s All Your Fault!

Natalie — Thu, 30 Oct 2008 19:28:35 +0000

Today I met with a very respectable entrepreneur. We talked about what it takes to run a business and she shared with me what she considered to be the biggest lesson she has learned from one of her mentors. That lesson is that everything is always your fault. She told me about a situation from when she was working for her mentor’s company and she was responsible for leading a team. One member of that team was not putting 100% into their work and it resulted in a very disgruntled client. She was mad at the team member who did not complete their share of the work and she expressed her frustration to her mentor who told her that the whole situation was her fault. Shocked, she asked how it could possibly be her fault, to which the mentor replied, “It’s your fault because you were leading the team. You must not have made the resources available to your team.” Then the mentor told her to get on the phone with the client and tell them it was all her fault and then work the whole weekend for free to fix the situation. In the end, the team member found out she had taken the blame, apologized, and started working twice as hard. She said that taking the blame was hard but it was the right thing to do and it taught her the most important lesson she has learned so far.

Taking responsibility and doing what you can to make the situation right is the most professional thing you can do. It’s always easy to place blame on someone else. It isn’t easy to accept blame though- especially when what you’re accepting blame for isn’t entirely your fault. After you’ve taken the fall, pick yourself back up and don’t miss the chance to learn an important lesson. Remember, “a man may fall many times but he won’t be a failure until he says someone pushed him.”

Garage Entrepreneurs» Fueling Young Entrepreneurs | Garage Entrepreneurs

Best Advice for Young Entrepreneurs

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It’s All Your Fault

The Real You

It’s All Your Fault!