The qualities of a successful entrepreneur - Diligence (6/11)
Translation of Mark Custer's sixth post from a series about the qualities of a successful entrepreneur (previous posts: 1 , 2 , 3 , 4 , 5 ).
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This is part of my new series of posts on what makes an entrepreneur successful . Originally, I published them on the VentureHacks site, one of my favorite sites for entrepreneurs. If you have not been there, then you should go.
')
The series began with a conversation about what I consider the most important quality: persistence . The following posts were devoted to practical acumen , ability to change course , sustainability and inspiration .
Lucas Daley observed:
For me, in the process of finding good entrepreneurs, it is not enough to find a large dose of a particular quality. As I already said, perseverance without flexibility in approach (ability to change course) does not give a good result. The same applies to the leader-mastermind, who is not able to achieve results. You must have seen these: they look great on the stage at conferences, but that’s what it’s all about. They look decent to the largest customers, but they have to be hidden from employees so that they do not knock those off the course with their advice, the implementation of which they will not follow. A good leader needs not only inspiration, but also hard work.
If you have not seen the movie “The Unruly” (Invictus, there is a trailer ), then take a look. It shows the early years of Nelson Mandela’s work at his post. He worked so hard that he lost consciousness from exhaustion. His guards, intelligence officers, complained about the lack of rest. And he tirelessly defended and promoted his position.
6. Diligence . The most insightful quote about this quality belongs to Thomas Edison: “Genius is 1 percent of inspiration and 99 percent of labor ” (Genius is one per cent inspiration and ninety-nine per cent perspiration). Well, entrepreneurs need a healthy share of both. I know that you think that venture capitalists take the hard work of entrepreneurs as a matter of course, but there is a difference between those who take it simply as a variant of their past employment, only with an extended working day. business My favorite example is Jason Nazar , CEO (CEO) DocStoc. It does not have an off button. He is always ready for business. When I go to bed late, trying to work, I often get messages from Jason at one o'clock in the morning. He attends many social events in Los Angeles, but it seems that after them he always goes back to the office.
British TechCrunch recently had an article written by an anonymous venture capitalist (yes, I think that anonymous articles are bullshit) and devoted to the work ethic of European high-tech companies compared to similar ethics in Silicon Valley . I zaretvitil this article, and several people from Europe wrote to me that this is not fair. Not at all. The reality is that many entrepreneurs and companies in Silicon Valley are obsessed with their business like no other in the world. It's not about Europe. In Los Angeles we hear the same criticisms.
But this is all optional. If you want safe work, or balanced work, do not go to entrepreneurs. I recently published an article with tips for startups that entrepreneurs need to focus on action, JFDI (just do it, damn you! ”- Nike slogan was beaten). There was another abbreviation on the wall of my first startup: SEV. Ask anyone who worked with me. It meant “Sleep is the enemy” (SITE - Sleep is the Enemy). I truly believe that in the global economy with a huge number of connections, where technology has leveled the playing field, without this, unfortunately, is not number one. Another unpleasant fact is that in the technology world, the largest company usually receives the largest profit.
To everyone who comes into my office with a good idea, I say: “Do not worry about failure, worry about success. If you fail, then just move on. But if the idea fires, then believe me, three people with a PhD from Stanford will sit in a cheap rented apartment in San Jose and will work around the clock to catch up and overtake you. In the evenings, they will eat noodles (well, I usually talk about the Taco Bell burritos), saving money to invest in the company. ” About unsuccessful company, you will sooner or later forget. It’s much harder to forget when you have a good idea, attracted attention to it, and all the fame (and all the money) is received by someone else, right before your eyes.
This may be unfair, but this is the reality of capitalism. This is the dynamic that drives innovation. And in the future, the guys will appear not only in San Jose, but also in Shanghai, Seoul and Bangalore. If you are not ready to fully engage in the business, you are not ready to build a large company. Do you think Mark Benioff developed Salesforce.com to a billion-dollar company just by having a good idea? Of course, he is an outstanding speaker, but I can tell you, because I happened to see the situation from the inside, that even now this guy does not stop. His pret. He creates success with Salesforce.com. He is a billionaire and still works harder than many startups. Do you want to show such zeal for such a long time?
_________
Previous translations of this series:
1. Perseverance .
2. Practical grip .
3. Ability to change course .
4. Sustainability .
5. Inspiration .
__________
This is part of my new series of posts on what makes an entrepreneur successful . Originally, I published them on the VentureHacks site, one of my favorite sites for entrepreneurs. If you have not been there, then you should go.
')
The series began with a conversation about what I consider the most important quality: persistence . The following posts were devoted to practical acumen , ability to change course , sustainability and inspiration .
Lucas Daley observed:
I'm a little upset. I agree with every point of the article, but I hoped to see a discussion of inspiration in the sense of idealism and activism, and not only in the sense of charisma.
For me, in the process of finding good entrepreneurs, it is not enough to find a large dose of a particular quality. As I already said, perseverance without flexibility in approach (ability to change course) does not give a good result. The same applies to the leader-mastermind, who is not able to achieve results. You must have seen these: they look great on the stage at conferences, but that’s what it’s all about. They look decent to the largest customers, but they have to be hidden from employees so that they do not knock those off the course with their advice, the implementation of which they will not follow. A good leader needs not only inspiration, but also hard work.
If you have not seen the movie “The Unruly” (Invictus, there is a trailer ), then take a look. It shows the early years of Nelson Mandela’s work at his post. He worked so hard that he lost consciousness from exhaustion. His guards, intelligence officers, complained about the lack of rest. And he tirelessly defended and promoted his position.
6. Diligence . The most insightful quote about this quality belongs to Thomas Edison: “Genius is 1 percent of inspiration and 99 percent of labor ” (Genius is one per cent inspiration and ninety-nine per cent perspiration). Well, entrepreneurs need a healthy share of both. I know that you think that venture capitalists take the hard work of entrepreneurs as a matter of course, but there is a difference between those who take it simply as a variant of their past employment, only with an extended working day. business My favorite example is Jason Nazar , CEO (CEO) DocStoc. It does not have an off button. He is always ready for business. When I go to bed late, trying to work, I often get messages from Jason at one o'clock in the morning. He attends many social events in Los Angeles, but it seems that after them he always goes back to the office.
British TechCrunch recently had an article written by an anonymous venture capitalist (yes, I think that anonymous articles are bullshit) and devoted to the work ethic of European high-tech companies compared to similar ethics in Silicon Valley . I zaretvitil this article, and several people from Europe wrote to me that this is not fair. Not at all. The reality is that many entrepreneurs and companies in Silicon Valley are obsessed with their business like no other in the world. It's not about Europe. In Los Angeles we hear the same criticisms.
But this is all optional. If you want safe work, or balanced work, do not go to entrepreneurs. I recently published an article with tips for startups that entrepreneurs need to focus on action, JFDI (just do it, damn you! ”- Nike slogan was beaten). There was another abbreviation on the wall of my first startup: SEV. Ask anyone who worked with me. It meant “Sleep is the enemy” (SITE - Sleep is the Enemy). I truly believe that in the global economy with a huge number of connections, where technology has leveled the playing field, without this, unfortunately, is not number one. Another unpleasant fact is that in the technology world, the largest company usually receives the largest profit.
To everyone who comes into my office with a good idea, I say: “Do not worry about failure, worry about success. If you fail, then just move on. But if the idea fires, then believe me, three people with a PhD from Stanford will sit in a cheap rented apartment in San Jose and will work around the clock to catch up and overtake you. In the evenings, they will eat noodles (well, I usually talk about the Taco Bell burritos), saving money to invest in the company. ” About unsuccessful company, you will sooner or later forget. It’s much harder to forget when you have a good idea, attracted attention to it, and all the fame (and all the money) is received by someone else, right before your eyes.
This may be unfair, but this is the reality of capitalism. This is the dynamic that drives innovation. And in the future, the guys will appear not only in San Jose, but also in Shanghai, Seoul and Bangalore. If you are not ready to fully engage in the business, you are not ready to build a large company. Do you think Mark Benioff developed Salesforce.com to a billion-dollar company just by having a good idea? Of course, he is an outstanding speaker, but I can tell you, because I happened to see the situation from the inside, that even now this guy does not stop. His pret. He creates success with Salesforce.com. He is a billionaire and still works harder than many startups. Do you want to show such zeal for such a long time?
_________
Previous translations of this series:
1. Perseverance .
2. Practical grip .
3. Ability to change course .
4. Sustainability .
5. Inspiration .
Source: https://habr.com/ru/post/85489/
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