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As a mentor, I’m regularly frustrated by people who try to cover their lack of confidence with ego and arrogance , rather than working on the base issue. Some of us are proud to be technologists, while others love marketing or team building. It allows you to change and learn as the market evolves, and your business needs change.
Every entrepreneur and every business I meet in my consulting and mentoring role has great intentions of bringing real innovation to the market, yet I find that most ideas are merely small extensions to existing solutions. Inventors are always talking about what they can do with technology, before sizing the need and the market.
But privately, as a mentor to many entrepreneurs, I see mindsets and attributes that may be equally critical to success, but are not readily admitted, for fear of being too wacky. While others like to minimize risks of all sorts, and bend an existing market, real success comes from defining a new market and new customers.
In my role as advisor and mentor to many new entrepreneurs, I often find myself suggesting that they think bigger. You may be a product expert, but have little experience with running a business, or marketing, or sales. Communicate and market your solution to the max. Marketing should begin even at the idea stage.
Almost every entrepreneur and new business owner I mentor is certain that his/her idea has a very high probability of success, and all find it hard to believe that ninety percent of startups ultimately fail. Pivot early, as required, to tune your features and marketing to meet the market and technical realities.
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. This is my 4th market upset and in the first three I was defensive. Find opportunity in chaos.
As a mentor, my mission is to recommend actions that can strengthen your image with investors and peers, as well as help you get the startup job done. The days of “ push ” marketing and autocratic control are gone. Marty Zwilling First published on Inc.com on 03/05/2021. Their support will make you a leader.
In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. Believe in the need for marketing and selling. Marty Zwilling First published on Inc.com on 08/10/2021.
As a long-time business advisor and mentor to entrepreneurs, I consistently find that the most thriving businesses are people-centric, and those team members create the best processes, rather than the other way around. You need their full support in today’s rapidly changing market.
You need to be visible in marketing efforts, viral videos, and interactions with key customer segments. I can attest that he was always seeking relationships with other more mature executives, and even today maintains a mentoring relationship with Warren Buffett. Marty Zwilling First published on Inc.com on 08/19/2021.
In fact, the latest figures show that crowdfunding globally is expected to reach $114 billion by 2021, exceeding the amounts contributed by either angel groups or VCs alone. Board seats can’t be negotiated, and even informal mentoring in decision and governance processes is unlikely. Early crowdfunding successes have been undeniable.
Rather than get angry and upset, fall back to your initial process for evaluating markets, customer needs, and financial implications. Seek input from the team, as well as mentors. Don’t be afraid to ask for advice from peers, your advisory board, and outside experts and mentors.
As an entrepreneur mentor, my mission is to foster the attributes in you as a startup founder that I believe will lead to success. Idea people must surround themselves with people who build momentum and get things done, including production, marketing, finance, and sales. Marty Zwilling First published on Inc.com on 03/11/2021.
As a mentor to aspiring business owners. Act in the interests of expanding the total market. Sometimes, to scale the market you need drive expansion by co-opetition or fostering common platforms. Marty Zwilling First published on Inc.com on 04/23/2021. In business, just leading your company is not enough.
In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Enlist a mentor and advisor who is not a ‘yes’ person. Marty Zwilling First published on Inc.com on 11/29/2021.
Thus, in my role as mentor to young entrepreneurs, I always recommend that you first take a hard look at your own values and priorities, before jumping into any new startup, as the founder, or even as a side hustle. You need complementary skills for marketing, financials, and operations. A business is never a solo operation.
As a mentor to many entrepreneurs, I don’t believe that it is only a birthright, and there are several key strategies, including the following, that you can learn and practice which will lead to success: Give your own judgement a high priority in decisions. Marty Zwilling First published on Inc.com on 09/21/2021.
In addition, he has often stated that his first priority is serving his employees and his extended business family, through coaching, mentoring, and effective communication. This means using what you have learned to anticipate market change and prepare for it. Marty Zwilling First published on Inc.com on 05/06/2021.
How might our next phase of the journey seem brighter, even with more uncertain days for startups and capital markets? And then in the late 90’s money crept in, swept in to town by public markets, instant wealth and an absurd sky-rocketing of valuations based on no reasonable metrics. What happened? People were building.
You can learn to be an entrepreneur by working in a startup, talking to peers, and mentoring. Markets, customers, and competitors evolve, and you must continually update the business to stay ahead. Marty Zwilling First published on Inc.com on 07/28/2021. Every inventor is an entrepreneur by default. Keep going and have fun!
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