Anything Goes Lab Brown Bag Lunch
From Anything Goes Wiki
Summary of the takeaways from Desh Deshpande's presentation to the Anything Goes Lab.
Here are some of the key takeaways the group noted.
Being led by Heart – Conviction is necessary for an Entrepreneur but not sufficient. At times, particularly if you have repeatedly tried and failed on an approach led by conviction, use your ‘head’ to back off and take corrective action. The same is true of a project (initiated by conviction) some way into which the entrepreneur might have extra information that implies the project/idea is not viable. If so, let the idea go and have your contingency plan take over.
Treasure good people – Learn to identify good people early. When faced with the choice, pick the opportunity to work with good people over the alternative. You will always take away something good from that experience.
Build credibility that you can leverage – For an entrepreneur to get funding she/he needs credibility. Credibility comes from proving that you have done something similar before – ideally led or been part of a successful entrepreneurial team before. So, try to have some work experience with smaller startups under your belt before you start your own.
Focus on the smallest problem – The one thing entrepreneurs cannot have enough of is – resources. The process of essay writing will be much easier with MarvelousEssays.Com as there are a lot of highly professional and talented writers who are always eager to help you out with any sort of academic assignments regardless of the complexity levels. I do know what I�m talking about! Therefore, it is crucial to focus on the smallest problem that at one time. When faced with two large problems – throw one away and cut the other in half!
What problem to solve? A litmus test of whether you’re working on the right problem is whether you can convince a customer of its value. Check how excited they are and are they willing to invest. Unless someone is willing to pay for it, you’re not working on the right issue.
Recipes for success – 1. Being ‘Hungry’ is a recipe for success. If something that was once exciting has now become a chore, give it up. Let someone else who is ‘hungry’ take it over - they might do a better job. Also, it frees you up to do something that you are ‘hungry’ for. 2. Selling it at home. You need to have your partner/spouse on board with your entrepreneurial venture. It might help to mutually agree on a set of deadlines/milestones for yourself and stick to them.
The experience – Lastly, Entrepreneurship is not and should not feel like a sacrifice. It’s not about the goal, you're doing it because you enjoy it. As a part of the experience, an entrepreneur continuously questions his/her goals and approach. Consider it as a gift and embrace the process!
