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You’ve probably already made your resolutions for 2020, but if not, I suggest a renewed commitment to finding happiness and satisfaction in your chosen business lifestyle. If you are sick of the corporate grind, take your favorite idea or hobby, and join other happy entrepreneurs. Stay rooted in the present. Marty Zwilling.
As I was watching the investor show, Shark Tank , on TV the other night, I was struck by how quickly and how extensively the sharks focused on the background and character of the entrepreneurs, compared to time spent evaluating their products. Shares views and learns from a personal mentor.
A continuing question I hear from young entrepreneurs is whether a university degree is important to startup success, or just a distraction in achieving their purpose in the world. Take advantage of free startup programs and mentors. School mentors, professors, and peers will give you the critical feedback without passing judgment.
In my role as a mentor to aspiring entrepreneurs, I find that most have the technical challenges well understood, but many are a bit short on some basic street smarts , or basic business realities. Marty Zwilling First published on Inc.com on 12/15/2020. Even the best college degree is not a substitute.
Every year, at the end of the year, we share some reflections on the past year from our readers, entrepreneurs, venture capitalists, sponsors, and others in the local technology community. It takes a community of supporters, connectors, mentors, and doers to make it happen. What was the biggest news for you/your company this year?
You will be able to get to all of these posts on our 2020 reflections here. Previously we had to bring companies from all around the world to our 8 week accelerator program in Santa Monica and we were restricted by having to use local investors, trainers and mentors to keep our startups occupied. They made 45 more investments in 2020.
As an advisor to entrepreneurs, one of the most common requests I get is for an evaluation of a next startup idea. The most successful entrepreneurs focus on solving a problem that they personally have experienced, and are convinced they fully understand. Marty Zwilling First published on Inc.com on 07/21/2020.
As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. Don’t hide in your office. A principal player bows out or does not deliver.
The road to becoming an entrepreneur is a journey , and it’s not a short trip. Every entrepreneur starts by accepting the reality that you have a rare mindset of joy of discovery, with an intense curiosity about how certain things or people work, or why a new technology hasn’t yet been accepted.
In my experience as a business mentor, one of the biggest challenges I see is a failure to focus. Most of you aspiring entrepreneurs have new ideas on a regular basis, and find it hard deciding which to pursue, or try to tackle several at the same time. Marty Zwilling First published on Inc.com on 05/19/2020.
As a mentor to aspiring entrepreneurs, I’m always surprised by the fact that some never seem to be able to that first startup going, while many others never seem to stop, starting their second or third initiative before the first one is fully hatched. Real entrepreneurs start experiments. Real entrepreneurs start experiments.
Even though I’m a big proponent of becoming an entrepreneur, it is definitely not for everyone. In my view, entrepreneur roles need to be planned carefully rather than made on the spur of the moment. Adopt the Silicon Valley entrepreneur family model. Test your entrepreneur instincts through crowdfunding.
Partially due to the economy, but also due to longer, healthier lives and changes in job tenure, 60% of working Boomers are now expected to stay in the labor force, with real power and influence, for at least seven more years, to 2020. One new incentive is the falling transaction costs and barriers to entry for entrepreneurs of every age.
One of the characteristics that every good investor looks for in an aspiring entrepreneur is resilience , or the ability to learn from and bounce back after a failure. With startups, almost every entrepreneur I know has failed at least once, often several times, but never gave up, and ultimately achieved their goal.
Many of the entrepreneurs I advise or invest with spend considerable time on the Internet, keeping up with technology, customers, and competitors, but very few feel the need for an early personal presence. Every future entrepreneur should start by networking. Marty Zwilling First published on Inc.com on 02/06/2020.
Based on my experience advising new entrepreneurs as well as more mature businesses, I recommend the following strategies for building business momentum, while still optimizing the limited resources of every small business: Find more customers that like what you do best. Utilize outside expertise and mentoring.
Today they are in every business, and will likely comprise 50 percent of the workforce by 2020. As a partially-retired baby-boomer in business, I’ve spent much of the last few years mentoring aspiring millennial entrepreneurs, and I’m always looking for more insights into how to help them.
In my own business career, many years as a business advisor, and mentor to aspiring entrepreneurs, I have validated the following strategies to practice and guide you. Even the best business professionals and leaders must concentrate on learning something new each day, through mentors, Internet resources, and studying competitors.
Today they are in every business, and will likely comprise 50 percent of the workforce by 2020. As a partially-retired baby-boomer in business, I’ve spent much of the last few years mentoring aspiring millennial entrepreneurs, and I’m always looking for more insights into how to help them.
Jo Webber: We've done a seed round of $5M, which we raised earlier in 2020. Million Women Mentors has a network of both women and men, helping underrepresented women pursue careers in STEM and STEM related fields. which is somewhat unusual for an entrepreneur. How is the company funded? I have a STEM degree, a Ph.D.
As a mentor to aspiring entrepreneurs, I often feel the frustration of someone trying to build a startup in the wrong place and time, and wrongly attributing their struggle to personal limitations. You need partners, mentors, and investors who can complement your own resources to make it a win-win for all involved.
Many of the entrepreneurs like you that I have met in my role as a business advisor are really product creators versus business creators, convinced that a great product will generate a great business. Entrepreneurs are typically focused on the big picture – creating a vision, purpose, and a long-term strategy.
As an entrepreneur advisor, I am surprised at how often I hear the same or very similar proposals of an incremental innovation to an existing process, versus a really new or breakthrough solution. That integration is the breakthrough that you should be looking for as an entrepreneur. He is quoted as saying, “I have not failed.
One of the reasons that now is the time to be an entrepreneur is the explosion of startup assistance organizations, usually called incubators or accelerators. Mentoring and technical assistance from volunteer or paid experts. Direct seed funding, for a share of the equity, and introductions to investors.
Many entrepreneurs still believe they need a traditional multi-level organization to handle growth and scaling, so they start hiring career managers to populate it. Freelancers and consultants have to demonstrate results, without training and mentoring, so they can help you more quickly and probably at a lower total cost.
In fact, I see more and more evidence that new entrepreneurs are coming from the older age groups (age 45-64), and success rates move up with age. We summarize the advantages of older entrepreneurs along the following lines: Think life-changing, not lifestyle entrepreneurship. Marty Zwilling First published on Inc.com on 06/08/2020.
I often think of the scope of this example in my role as mentor to a struggling entrepreneur who is quick to blame his problems on employee mistakes, or even changing customer expectations. Marty Zwilling First published on Inc.com on 12/15/2020.
Many entrepreneurs I have mentored make big mistakes in this area, by hiring low-cost friends and family, with minimal skills or training, and expecting them to have the same work ethic , passion, and business knowledge as the founder. In addition, you can reduce to soft costs of mentoring, relationship building, and socializing.
For some reason, too many aspiring entrepreneurs I know seem to focus on “actions” rather than “results.” These are not the entrepreneurs that I want to support, since I’m well aware that running a startup is far more complex, albeit more satisfying, than most conventional roles in established enterprises.
With all the uncertainty in the world today, its hard for any business owner or entrepreneur to stay positive. Based on my experience and a business advisor and mentor, this is the ideal time to get back to the basics of business leadership and innovation. He considers mentoring on of his most critical roles at work.
In my view as a business advisor, it’s an ideal time for aspiring entrepreneurs and small business owners to get ahead of the crowd by driving an innovative solution to a painful problem with the passion, perseverance, and work ethic I see every day. Spend more time coaching and mentoring your team.
Partially due to the economy, but also due to longer, healthier lives and changes in job tenure, 62% of working Boomers are now expected to stay in the labor force, with real power and influence, for at least nine more years, to 2020. One new incentive is the falling transaction costs and barriers to entry for entrepreneurs of every age.
That’s why I caution my aspiring entrepreneur clients against proclaiming to investors that they are a great “idea” person. Aspiring entrepreneurs are often impatient in rolling out the business, assuming the hard work was finalizing the idea, and that if you build it, customers will come. A full plan may be no more than 20 pages.
In my role as a mentor to aspiring entrepreneurs, I find that many of you have your most creative ideas for your company’s first big bang , but often get bogged down with details as the company grows. Marty Zwilling First published on Inc.com on 12/01/2020. Yet building and maintaining a creative team is a tough challenge.
In my business of mentoring new entrepreneurs and advising small company owners, I recognize that most don’t start as experienced leaders, and most don’t realize that people leadership is a primary key to their future success. Marty Zwilling First published on Inc.com on 02/04/2020.
As a startup mentor and advisor, I often contemplate what makes the difference between winners and losers. Too many aspiring entrepreneurs I know are very quick to come up with new ideas, but are not so quick on the execution side. The best business people are also the best mentors and coaches.
If you want to join the ranks of entrepreneurs and businesses who have a reputation for being ahead of the pack, for being an initiator rather than a follower, such as Apple and Nike , here are five key strategies and skills to develop that I recommend and practice: Develop a mindset of constant change required to thrive.
Partially due to the economy, but also due to longer, healthier lives and changes in job tenure, 62% of working Boomers are now expected to stay in the labor force, with real power and influence, for at least nine more years, to 2020. One new incentive is the falling transaction costs and barriers to entry for entrepreneurs of every age.
As a business advisor, I listen to many of you entrepreneurs talking about achieving your dreams, but too few of you have structured that dream, and can express it in a set of specific goals, with a timeline for getting there. Marty Zwilling First published on Inc.com on 09/17/2020. Now is the perfect time to take that next step.
As a mentor to entrepreneurs over the years, I see many of you who don’t communicate enough, others who seem to do all the talking, and some that are hesitant to be direct and open. Marty Zwilling First published on Inc.com on 04/28/2020. I find that having the right mindset is key to getting all these right.
Although his focus is naturally on bigger companies, I contend that his recommended strategies apply equally well to entrepreneurs and startups: Demand a mindset of deep thinking for the long term. Marty Zwilling First published on Inc.com on 07/23/2020. Cote, former Chairman and CEO of Honeywell.
Some entrepreneurs, though, are acting as if Prop 64, known officially as the California Marijuana Legalization Initiative, has already passed. Co-founder and CEO Eric Gomez said Canopy San Diego won’t enroll startups or entrepreneurs who are directly engaged in the cultivation or sale of marijuana or its derivatives.
It is a company with a mission to create better access and more funding for Black entrepreneurs and executives. And Black entrepreneurs wanted access to decision makers but didn’t always have the easy connections. You can hear more about the importance of mentoring from Kobie Fuller, Valence advisor James Lowry, and John Legend?
The Los Angeles startup community is joining the rest of the world in mourning the death of NBA superstar, entrepreneur and investor Kobe Bryant who was killed in a helicopter crash in Calabasas, Calif., Bryant launched his venture career with partner and serial entrepreneur Jeff Stibel back in 2013, according to Crunchbase.
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