Entrepreneurs choose sides

Some people are always sitting on the fence. Always keeping their options open.Generally, this is a winning strategy. Choosing sides means making enemies, and business is hard enough without having enemies trying to stop you.If you’re lucky you can go through life without making a call. You can perch atop the post and play the…

Read More

Entrepreneurs understand the difference between respect and ego

Sometimes you can feel disrespected by your client. He takes calls during your meetings. He always keeps you waiting. He never returns your messages.Sometimes this behaviour is due to true lack of respect. Maybe your client has no consideration for your time or needs. Maybe your client simply doesn’t like you.Whatever the reason, life is…

Read More

Entrepreneurs build longer runways

If startups are like planes then cash is runway. More cash = more runway.The secret to starting a business is having enough cash so that your plane can take-off before you run out of runway, and so that your plane can stay in the air…There are three factors that affect your runway: Savings Simple. The more…

Read More

Entrepreneurs live a frugal life

  The secret to financial independence is low overheads. Low overheads are about being frugal.   In order to be frugal in business you must be frugal in life. Its just not possible to live in two worlds, ie: drive a Ferrari and drink Ricoffy at the office.   Being frugal doesn’t have to mean being a…

Read More

Entrepreneurs are paranoid optimists

You can’t start a business unless you have a fundamentally positive view of the future. You have to be the kind of person who believes everything will turn out ok in the end.You must be the opposite of Malthusian.But you must also be paranoid.The only way everything will turn out ok in the end is…

Read More

Entrepreneurs make mistakes

As life goes along we all make mistakes. No matter who you, king or serf, you will make mistakes.The only difference amongst people is how they deal with mistakes: Never admit the mistake Admit but don’t learn from mistake Admit and learn from mistakes The first category is reserved for people that have never had…

Read More

Entrepreneurs don’t bail out their partners

Its natural to help the people you love. Kids, parents, siblings, friends… when you see them taking a hit the instinct is to step in and lend a hand.Don’t do it! That way lies failure. Bailing people out creates relationships of dependency. An unspoken contract is formed whereby the dependent knows that you’re going to save him no…

Read More

Entrepreneurs feel uncomfortable all the time

When you have your own business its difficult to feel at ease.You know everything about the company, so you also know how many things can go wrong.It creates a low-grade stress that persists every day… Do I have enough cash for salaries? Is my most important customer happy? Are my staff working hard enough? Is…

Read More

Entrepreneurs are not greedy with equity

When you start a business the first advice you get is, “Don’t give away equity”.Equity is the most expensive form of compensation, so this is generally good advice.But it is bad advice if you want to build a big business and make a big impact.We all need partners in life and in business. “The more people swimming…

Read More

Entrepreneurs hate losing

There are three kinds of entrepreneurs: Lifestyle entrepreneurs These are people who really don’t care who wins or loses. In fact, they hate the very thought of competition.The reason they start a business is to substitute a salary, not to change the world or get rich.If you don’t have a fire in your belly to…

Read More

Entrepreneurs are willing to pay the price

Vince Lombardi, the legendary coach of the Green Bay Packers had a guiding motto, “If you want to win you must be willing to pay the price.”Same applies to business. If you want to be a successful entrepreneur, ie: make a lot of money, you must be willing to pay the price.The price of being…

Read More

Entrepreneurs do not take wild uncalculated risks

Some people will tell you to quit your job and follow your dreams.“Jump off the cliff and build wings on the way down.”These people have either never actually started a business, or they are unconscious of the luck they had when they started their first business.I fell in the latter category.My first business shot the…

Read More