Rules of the Game: 5 Truths Every Entrepreneur Need to Know
If I told you there were a handful of rules that guaranteed entrepreneurial success, you know I’d be lying-since no one can teach an entrepreneur what can only be learned by doing. While theory is no substitute for experience, there are principles that will keep you focused on your journey.
Here are the 5 that have served me best:
Don’t think Big. Think BIGGER.
You became an entrepreneur because you had a vision, a driving force that demanded and keeps demanding everything from you. Don’t chain that passion to reason- embrace it, use it and continually push the extent and reach of the vision that drives you. Remember, being timid never works in the epic journey towards building your own business.
2. Hire people smarter than you
As the founder and driving vision of your business venture you are expected to know everything but the simple reality is that you can’t. That’s not to say you should stop learning and improving your skill set every spare moment you get. The wisdom of real delegation comes from the simple understanding that there are others around you better equipped to handle what you are struggling to deal with alone, and by hiring the right people for the right job, it will make it easier for you to get to the next level.
3. Realize that perfect means ‘Good Enough’
Entrepreneurs know that ‘perfect’ is just a nice way of saying ‘a process’. Whatever you are driven to create, you have to realize it will never be perfect or even complete. Bringing a product or service to market successfully is dependent on a multitude of factors, many of them outside of your control and each one of them unwilling to wait for you to get it ‘perfect’. Get your idea good enough to launch-THEN spend your time perfecting it!
4. Get used to hearing ‘No’
You’re going to face rejection, derision and even laughter on your entrepreneurial journey. Your concept’s survivability comes down to how hard you believe it’s worth fighting for. If you are absolutely certain you are right no matter what, the one person who will always back you up is yourself. Being an entrepreneur means not only hearing no, it means saying no to yourself when things go sideways and your fear tells you to back down. No matter the setbacks, always remember that getting things wrong now clears up the space to get it right later.
5. Simplicity is the key
As an entrepreneur gets closer to the fulfillment of their dreams, they quickly discover that everything has become complex, from the business model to the message of the product or service itself. As I’ve said before, every good entrepreneur needs a great story. Unnecessary complexity all too often is the deal breaker when running that final stretch. It’s easy to be complex, but it’s hard to keep things simple. Taking the time to reduce everything to basic principles can make all the difference between success and failure.
While these are the 5 that have kept me focused (and sane!) on my journey, what are yours? What rules or principles do you keep in mind to stay focused and stay strong? I’d love to know.