Your peers will likely be enjoying some early success in life while you are busy plugging away trying to grow a business, which can be frustrating for an entrepreneur.
But you must follow through your commitment. There will be enormous amounts of stress. Other people and obligations in one’s personal life will inevitably compete for and entrepreneur’s time and resources.
- One of the most important lessons for a startup is DROOM “Don’t Run Out Of Money”. Money not only buys resources to create a product but also buys time.
- One great idea is insufficient for success, you need great execution and the ability to spin off new ideas rapidly in order to adapt to changing circumstances.
- You must recognize that as an entrepreneur you’re inherently a salesman.
- Entrepreneur who fail to plan “may as well plan to fail”.
- Entrepreneurs must develop the skill of self-creation, pulling themselves up by their bootstraps.