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How to be an entrepreneur. April 30, 2013

Posted by ourfriendben in Ben Franklin, wit and wisdom.
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Wouldn’t you have liked to found Xerox, Microsoft, Apple, eBay, Facebook, Angie’s List? Our friend Ben was reading a special section of The Wall Street Journal this morning that shared insights as to how these entrepreneurs had founded their empires. Here’s what they said:

* What aggravates you? If long lines at airports, or the lack of dignity at checkpoints drives you insane, they likely drive others insane also. Pinpoint what drives you crazy and try to fix it.

* Look at what other businesses are doing right. Okay, you don’t plan to open a food truck. You have no interest in going into the food business. But the food-truck business is a successful business model: small startup costs, loyal customers. Maybe a jewelry truck or fashion truck or art truck would be successful, too.

* Collaborate. You have great product, they have great marketing or online skills, or vice-versa. Together, you can do what neither of you could have ever done alone. Just make sure your business arrangement is in writing.

* Ignore the market and focus on the customers. Never pay attention to the people who tell you that the market’s down or we’re in a depression or whatever. Listen to the people who need the service you’re providing and are willing to pay for it.

* Don’t be afraid to fail. Your first idea may not be your best. If it isn’t, don’t give up. Perhaps your next, or next, or next idea will strike gold. Perhaps you simply need to tweak your first idea. Perhaps you need to seek sponsors or collaborators. But if you feel confident, true to yourself, don’t just crawl away. See what went wrong and try, try again.

Believe in yourself. Benjamin Franklin, one of the greatest entrepreneurs who ever lived, would be proud.



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