Entrepreneurs don’t try to save the world

Are you trying to make money? Or are you trying to save the world?If the former, you’re an entrepreneur. If the latter, you’re a social entrepreneur.There’s a difference. An entrepreneur’s first priority is making a profit, and then making a difference.A social entrepreneur’s first priority is making a difference, and then making a profit.Make sure…

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Entrepreneurs work weekends

A friend recently interviewed a guy who’d been working in a big corporate all his life.Friend, “Are you a hard worker?”Guy, “I haven’t taken a day off in two years.”Friend, “Did you work weekends?”Guy, “No…”Friend, “Do you know that weekends are days?”The concept of hard work is different for those working in a big corporation…

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Entrepreneurs hate competition

Some people like competition. Maybe they were star athletes or top academics at school, and so they are used to winning competitions, and so they don’t mind competing, and so they actually seek it out knowing they will probably win.These people are not entrepreneurs. Just because you think you will win doesn’t mean you should…

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Entrepreneurs negotiate

Mark McCormack, the founder of IMG, has a great story. One day an executive of his was despatched to negotiate TV rights for a major sporting event. The entire company was anticipating a three week grueling marathon, but to everyone’s surprise the exec returned after one day with the exact deal that IMG was aiming…

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Entrepreneurs can handle the truth

There’s a classic scene in A Few Good Men where Jack Nicholson cracks and shouts at Tom Cruise, “You can’t handle the truth!”. Turns out Tom could and Jack went to jail. Never mind  that.Some people just can’t handle the truth. These people can’t be entrepreneurs.If you want to start your own business, you have…

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Entrepreneurs remember Rule No 1 of high school

If you attend university, you enter the real world thinking knowledge gets you everywhere. The more you know about a subject, the further you will progress in your career, and the more you money you’ll make.Wrong.Real life is more like high school than university. Its a popularity contest.The real world is all about selling. Selling…

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Entrepreneurs launch fast

One of the biggest traps facing an entrepreneur is the Bedrock Fallacy: The Neanderthals invented the wheel long before Homo Sapiens. But they realised it would be much more useful if it had a tyre. So they delayed launch until someone invented vulcanised rubber.Homo Sapiens came along and launched a wheel without a tyre, and the…

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Entrepreneurs don’t diss dumb ideas

We forget that some of the best ideas started out as ludicrous. Especially if you’re smart.Intelligent people are the leading cause of death for good ideas. The favourite use of brains is explaining with eloquence and unassailable logic why other people’s ideas will not work.Boom! There goes another potential billionaire dollar product. All because we’re afraid to “think…

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Entrepreneurs are not too proud

It’s easy to think you’re a main oke. That certain jobs are beneath you. That secretaries and underlings were invented to take care of the detail.Its also easy to fail.An entrepreneur is never too proud to do the dirty work. She will do whatever needs to be done to win (ethically): Sell Apologise Book flights…

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Entrepreneurs write every day

Write every day. Preferably on a public forum, like a blog, where people can see it. Public writing forces you to think carefully before you publish, it gives you feedback, and it helps other people.Not only that, the habit of daily writing has the following benefits: Makes you more observant If you know you have to write something every day,…

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Entrepreneurs don’t argue with the customer

It doesn’t matter whether you’re pitching to an investor, or selling to a customer. Never argue.If he says “I don’t like it”, don’t launch into a repudiation of his logic. He’s just given you honest feedback. By arguing you (a) irritate him, and (b) lose an opportunity to improve your pitch.Instead of trying to convince…

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Entrepreneurs don’t haggle

Have you ever done a deal with a CEO where you’ve shaken hands, walked away thinking, “Hooray!”, only to find the next day that the deal has changed.He wants a little more, you get a little less. You sigh, shrug, and shake hands again. Only to find the next day he wants a little more,…

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