Final Entrepreneurship Lecture

Post on 21-Oct-2014

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This is the final lecture I gave my entrepreneurship students tonight.

Transcript of Final Entrepreneurship Lecture

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

• Gah650@gmail.com

• See my interests: www.9giantsteps.com

• Twitter: gah650