The Top 6 Entrepreneurship Skills

“Ok, what skills do I need to become an entrepreneur?” An aspiring entrepreneur asked me during an event. I didn’t have an instant answer, but it got me thinking. What skills does an entrepreneur need to succeed? Or do they need some special skills at all to succeed? We discuss all the time about the importance of ideation, validation, building a product, hiring the right team, and all, but we don’t talk much about the skills one needs to run a successful business. I started going through the conversations I had with tens of thousands of entrepreneurs, read between the …

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The 5 Principles of Startup Success

You probably heard them. The famous “14 Leadership Principles of Amazon.” Those are the set of principles Amazon lives by every day and does everything from coming up with new ideas to building new solutions and are the pillars of Amazon’s colossal success. But do you know what? They can definitely help new startups and entrepreneurs. All you have to do is to follow them and use them to succeed. That’s what this email is all about, my take on how you can use them to succeed as a startup and entrepreneur. But I won’t be discussing all the 14 …

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Why do Entrepreneurs Fail?

Entrepreneurs fail. Even the ones with a great idea fail. It doesn’t matter how unique or exceptional or smart is your idea, but it isn’t enough because an idea doesn’t guarantee the results, but how good you execute it does. Because whether you succeed or fail depends more on how you are giving life to the idea and the idea itself. A great idea can bite the dust when poorly executed while a not-so-good idea can succeed when implemented correctly. Because execution is everything and success usually comes after numerous starts, adjustments, pivots, collective efforts, and commitment to cross the …

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The Untold Secret to Entrepreneurship Success

There are many aspects to succeeding as an entrepreneur. There is no limit for the amount of advice we can get from books, training programs, online courses and videos on how to become a successful entrepreneur. But in the past few years of trying to succeed as an entrepreneur myself – I have realized one thing. There is one important element for entrepreneurship that no one talks about. And ironically, no one can talk about it. I picked this up from a movie I watched long back… “What is that one thing that once you say it, it ceases to …

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Entrepreneurship is Boring and Difficult

Succeeding in entrepreneurship is less about new ideas, strategies, methods and hacks. It is more about doing the boring & difficult tasks consistently for a long period of time. The secrets of business are pretty simple: Make something people want Create a good product Communicate to the right customers with the right message Convert Serve and support Reward customers There is no other secret. There is no need of a 2-year MBA. If you do the above right, everything else is for hire. The hardest thing in business is empathy. If you can have empathy for your customers, and the …

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The Last Mover Advantage

Many of us have heard about first mover advantage.

If someone is the first to enter a market, then this business can capture the market and make a lot of money.

And many of us think that first mover advantage is great.

But it doesn’t make much sense in today’s world, where everything is changing very fast.

The internet connects all of us and the speed of business has gone up.

Competitors are fast to catch up and compete with you, and you will no longer have the first mover advantage.

That’s why, Last Mover Advantage is in fashion.

Facebook was not a first mover in the social network space. We had MySpace and Orkut as social networks long before Facebook.

Facebook was not the first social network, but the last social network.

Once you capture the entire market with a better product and service, and execute your ideas well, you can become the last mover.

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