The potential of entrepreneurship is in every one of you. This fun, animated video created by the University of St. Gallen presents how that potential can be achieved. From the right idea to applying the entrepreneurial method, using available resources and exploring the market, the video gives a lot of important hints for entrepreneurial success. At the same time, it explains the 10 most important myths in the field.
What was the Internet like in the beginning? Can you even remember? This cool animated infographic above explains all the steps it took to create The Internet as we know it. It’s a fun and inspirational video, that shows, once again, the power of the visual. After all, we like our information visual, digested and ordered, right? I know I do!
Business entrepreneur, successful venture capitalist and 2013 Entrepreneur of the Year at the British Muslim Awards, James Caan presents his rules for success. Part of the jury-investors at Dragon’s Den (British business show), Caangives you the “dos” and the “hows” for getting at the top of your business, in this short video.
By “definition”, entrepreneurship is all about shocking the world, changing the status quo and just helping people with your products and services. Being an entrepreneur is a lifestyle. And not just any lifestyle, but one that means embracing risks and constantly improving yourself. But it’s also a lifestyle that creates a lot of impact once you’re successful. So how do you get there?
You want to be an entrepreneur? You know something about the lean methodology? Then you probably heard about one of the masters, Steve Blank!
Steve Blank knows his lean startup methodology. After more than 20 years in the tech business and a lot of successful startups, Blank is the guy to learn from. Considered one of the most influential people on the planet by Forbes, he founded E.piphany, Zilog and many others. So, let’s see some tips from him in the collection below. Click and note!
“Startups are painful, stressful and at times demoralizing. You need to be a true believer in the vision of what you are doing. You need to be passionate about it and love what you’re doing.”
“At the end of the day, you can decide whether you want to be an employee with a great attendance record, getting promoted to ever better titles and working on interesting projects – or whether you want to attempt to do something spectacular – this be or do should be a question you never stop asking yourself — for the next 20 years, and beyond.”
“Don’t confuse “raising money” with “building a sustainable business.” In a perfect world, you would never need investors and would fund the company from customer revenue. But to achieve scale, startups need risk capital. Raise as much money as you can after you have tangible evidence you have product/market fit, not before.”
“You need to ask yourself, ‘Where do you want to work: startups, mid-size or large companies?’ …If you find yourself debating the ‘startup versus large company’ choice you’ve already chosen the big company. Entrepreneurship isn’t a career choice it’s a passion and obsession.”
“Building a successful business model isn’t about changing your company based on every bit of feedback: It’s about understanding whom to listen to and why.”
“Disruption on the first day always looks like a toy…”
”My position is fairly radical… that says, ‘No.’ Most of the things you learn on how to execute (at) a company are actually destructive in the first year or two at a startup; eventually they converge. But you need a different body of knowledge that you will not get as a business school professor consulting for large corporations. This is why entrepreneurship (programs) in universities… are helped when they are taught by adjuncts with startup entrepreneurial experience either as venture capitalists or as retired entrepreneurs.”
“After you’ve raised money, shut up, put your slides away, stop selling, and start listening to your customers.”
“Success is predicated on too many factors for one methodology to guarantee that any single startup will be a winner. But on the basis of what I’ve seen at hundreds of startups, at programs that teach lean principles, and at established companies that practice them, I can make a more important claim: Using lean methods across a portfolio of startups will result in fewer failures than using traditional methods.”
“In a startup no facts exist inside the building, only opinions.”
“My advice was to start a policy of making reversible decisions before anyone left the meeting or the office. In a startup, it doesn’t matter if you’re 100 percent right 100 percent of the time. What matters is having forward momentum and a tight fact-based data/metrics feedback loop to help you quickly recognize and reverse any incorrect decisions. That’s why startups are agile.”
“More often than not, the DNA strand that makes entrepreneurs great is the one that’s their undoing when confronted with “flatlining” user adoption, growth, referrals, or frequency. These entrepreneurs need to switch smartly out of “do” mode and return to the earliest “discovery” steps to find a distinctive, exciting solution to a seriously painful customer need or problem. It’s the only way to make a startup not suck.”
Do you want to be an entrepreneur and change the world? Are you in search for a bit of inspiration? You have to watch the motivational video above. It’s a talk with Gurbaksh Chahal, an internet guru and serial entrepreneur who, by the age of 25, founded and sold two companies for a total of $340 million. How did he do that?