Now that you’re settled into the new year, it’s the perfect time to reach out to your network (or establish a new one) and find a group of mentors. Here are some tips for identifying those who can help you achieve your personal and professional goals.
MIT’s mind blowing solutions to the nine hardest startup problems. Deciding how big you want the company to be and change its strategy, organization, and processes while sustaining the culture.
It was approaching the end of 2001, and like most high-school students I had been seduced by the prospect of going to the infamous …
With less obligations and responsibilities, young entrepreneurs can put more focus and time into their startup.
Not everyone is meant to be an entrepreneur. But for those who are, trying while you’re young is ideal. Your opportunity cost is lowest! Many people I know say, “Well, I’ll work two years in banking or consulting and then look at entrepreneurship.” The reality is, soon they’re getting married or having a family, and the chances of them leaving a steady salary to take this risk disappear.
Cultivate the “positive opposite” of your strengths.
For years, when I spoke with CEOs or senior leaders, it was because they were interested in how my consulting firm could help their employees become more engaged, or innovative, or sustainably high-performing. During the past year – and especially the past six months – I’ve been hearing a different and much more personal initial question: “Can you help me better manage my own life?”
Consider the challenges that modern corporate leaders — and especially CEOs — now face, in addition to running their companies every day:
Self-made billionaire John Paul DeJoria knows what it takes to build a business from nothing — in this interview, he explains how he started Paul Mitchell Systems (a hair care and style business) with just $700 after a potential investor pulled out of a deal. In this video with Business Rockstars, DeJoria breaks down his best advice on how you can build your own empire, what separates an entrepreneur from others and what he’s excited about now.
It’s easy to believe that your business idea or invention is great. After all, you thought of it. However, determining if your product or service is actually something your audience wants and needs is critical to your success as an entrepreneur.
Flirting with ideas. Slawa Duldig was looking forward to a pleasant Sunday walk in Vienna in 1926, in Kunst Historisches Museum’s gardens, a favourite haunt. This May morning with clouds was not so inviting — and so she had to prepare for the showers, she took a heavy umbrella with her. She wrote in her notebook— ‘Why on earth must I carry this utterly clumsy thing? They should invent a small foldable umbrella that could be easily put in a handbag’. A great idea — but ‘they’ hadn’t yet done it and so Slawa decided to remedy the situation.
The idea of an entrepreneur creating a successful business by solving a personal problem is persuasive. It makes it easier for people to identify with the problem and see the solution as something they need too. And it’s even better when the story is actually true.
There’s a widespread belief among founders that venture capital is a precursor to success. It is true that VC is a common denominator of the most successful tech startups, but it isn’t a prerequisite, especially at the early stages.