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Many believe that entrepreneurs are born, not made. While I agree that successful company builders usually have a natural inclination to be entrepreneurs, a good education helps polish that apple. We can all point to examples of successful entrepreneurs who dropped out of college, but still went on to make a big impact.
One of the biggest complaints you hear from both entrepreneurs and investors in Los Angeles, is the lack of a credible, visible startup accelerator in the Los Angeles area. We're providing seed funding, office space, and put them through a three month, structured program. Everything they need to launch and grow their business.
Over my many years of mentoring aspiring entrepreneurs and business professionals, I often hear a desire to start a new business, with a big hesitation while waiting for that perfect idea and perfect alignment of the stars. I advise that you block out time at least weekly for nurturing new and existing relationships.
Most people totally advise against stealth. I actually like finding entrepreneurs who are more circumspect, less braggadocios and generally more planned about their actions. Where Stealth is Bad – I do meet entrepreneurs who clearly fall on the other side of spectrum and are totally closed. Be careful about this advice.
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. Make your lifestyle a model of the online reputation you want.
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.
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. Building a business is not a one-person job, and leading by edict rarely works today.
He and I connected, and walked through PartySlate and what we were doing, and he immediately said he wanted to invest and become an advisor to the company. I feel strongly, that if you're going to do this, you need to be technical, or have a technical co-founder. He's based in LA. I went to Michigan with him.
As a self-made entrepreneur and former chairman of Diamond Resorts International, he asserts that the five biggest companies by market value today, Google, Facebook, Microsoft, Amazon, and Apple, aren’t really tech, but hospitality companies. I just finished a new book by Stephen J. Marty Zwilling First published on Inc.com on 10/22/2018.
The aim, according to the private college’s press release, is to provide “mentoring, advising and access to resources for up to 15 student- and community-run companies with a philanthropic twist.” Salt Lake City, Utah’s Westminster College debuted it’s Social Impact Incubator on August 30 of this year.
While spending years in a big company as an employee and an executive, I heard many people talking about jumping the corporate ship, dreaming of being an entrepreneur, and totally in charge of their own destiny. I’m not saying success is rare, but the list of famous entrepreneurs who started their career in a big company is small.
Steve Jobs started his technical career creating circuit boards at Atari, before joining Steve Wozniak to build personal computers in his garage. I advise owners that they have to know when to give up a business, as well as when to buy one. This starts with picking your roles carefully – to be in the right place at the right time.
More importantly, as a parent or mentor, what should you advise young potential entrepreneurs about getting an MBA? In some recent surveys, as many as two-thirds of entrepreneurs felt that their entrepreneurial spirit was more ingrained than learned, so maybe the education level is irrelevant. Consider it a waste of time.
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