Be Genuinely Excited about Technology and the Future

If you want to succeed as an entrepreneur, you need a genuine excitement for the technology and the future. If you are in the tech business, you have to love technology. Most people in the tech business have no problem with falling in love with technology. But even if you are not in the tech business, you should not shy away from technology. Human life is far more exciting and comfortable than most other species because we are good with technology. Every piece of technology that we have invented has made our life easier. Language, printing press, radio, transportation, electricity, …

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Learn to Feel all Your Emotions on a Deep Level

Entrepreneurship is the toughest sport that I know of. Most of the sports demand a certain aspect of you. Some sport demands you to pay your full attention, some sports pure creativity, some demand your speed and some your stamina. Entrepreneurship demands all of you, nothing left behind. When entrepreneurs succeed, people call them risk takers, courageous and fearless. Media portrays a very superficial image of entrepreneurs and that leads most people to believe that they have to be fearless. People who have not been entrepreneurs, and people who never will be have very wrong notions about entrepreneurship. This false …

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Stay at the Edge of Sanity and Hold on to that Dream

If as an entrepreneur, you think you have bigger problems in your life than making your startup succeed, then you are not prioritizing your startup enough to succeed as an entrepreneur. I personally do not know anyone or have heard of people who succeeded as entrepreneurs by giving second priority to their startup venture. You have to prioritize your startup’s success above everything else in your life. When I say that, it doesn’t mean that you have to prioritize it at the cost of other areas of your life. Never give up health or relationships for the success of your …

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Pay Your Consultants and Professionals Well

As an entrepreneur, there are certain things you can’t do yourself. Though you might try to understand it, you might not be able to master it. Many professional verticals require years of learning and experience to achieve mastery level. In my business, I understand design and copywriting to some extent, but I am not a master at it. And as long as I can have consultants and professionals help me in areas that I am not strong at, I don’t need to master it. I don’t mind mastering other subjects, but there is an opportunity cost. I will be taking …

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Be a Great Bookkeeper

Bookkeeping is a hard habit. Even if you get into that habit, it is easy to fall out of that habit. Humans have a tricky relationship with the concept of money. If the topic of money makes you emotional or makes you uncomfortable, then you have to overcome that to succeed as an entrepreneur. Most entrepreneurs at the early stages of their startup will not have a financial team looking after their transactions. Startup founders have to do bookkeeping themselves. Though for small businesses bookkeeping is not mandated by law, accurate bookkeeping helps you see clearly where you are financially …

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You Don’t Need a New Idea to Start a Business

Many people who want to start the entrepreneurship journey get stuck at a point where they think that they need a brand new idea to start a business. Good ideas are important, but not mandatory to start a business. Most of the time, we see startups with new ideas being highlighted in the media. Media loves stories of how a simple idea changed everything and such stories have a lot of demand in the market. It installs hope in people that they can also start something – if they just had the right idea. To be honest, having good ideas …

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Build Fast and Sell Fast. Don’t be a Perfectionist.

When entrepreneurs build products and services, they need to strike a balance in the level of perfection they can practically achieve and still manage to sell the product. If you ship a product into the market that is sub-standard, people are not going to care. If you try to build the most perfect product, you will never be able to complete building it. Unfortunately, most of the entrepreneurs today live in the extremes. It’s a good thing to create a perfect product, but if you are too much of a perfectionist, your product will never mature to a stage where …

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