Financial Independence
Escape the Rat Race
Ten Commandments of Start Ups, Marty Zwilling
If you expect to succeed in the thrill-a-minute, roller coaster ride of a
startup, let me assure you it takes more than a good idea, a rich uncle, and
luck. In fact, the idea is often the least important part of the equation.
Investors tell me that they look at the people first, the business plan second,
and only then at the idea.
If you want some tips to beat the insurmountable odds, take a look at the
following concepts, adapted from Richard C. Levy's book, "The Complete Idiot's
Guide to Cashing in On Your Inventions." He was talking about inventions, but I
think his concepts apply perfectly to any entrepreneur starting a business:
1.Don't take yourself too seriously. Don't take your idea too seriously, either.
The world will probably survive without your idea. You may need it to survive,
but no one else does. But there is no excuse not to love and laugh at what you
are doing. I'm convinced that people who love their work are more innovative, as
well as happier.
2.The race is not always for the swift, but for those who keep running. It's a
mistake to think anything is made overnight other than baked goods and
newspapers. You win some, you lose some, and some are rained out, but always
suit up for the game and stick with it. It's not speed that separates winners
from losers; it's perseverance.
3.You can't do it all by yourself. Entrepreneurial success is almost always the
result of unselfish, highly talented, and creative partners and associates
willing to face with you the frustrations, rejections, and seemingly open-ended
time frames inherent to any business startup.
4.Keep your ego under control. Creative and inventive people, according to
profile, hate to be rejected or criticized for any reason. An out-of-control ego
kills more opportunities than anything else. While entrepreneurs need a healthy
ego for body armor, it can quickly get out of hand and become arrogance if not
tempered.
5.You will always miss 100 percent of the shots you don't take. Don't be afraid
to make mistakes. If you don't put forth the effort, you won't fail, but you
won't succeed, either. Inaction will keep opportunities from coming your way.
6.Don't start a company just for the financial rewards. We all want to make
money. That's only natural. But you should be motivated by the opportunity to
"make meaning" as well. People who do things just for the money usually come up
shortchanged.
7.If you bite the bullet, be prepared to taste gunpowder. Not every idea or
decision works. For every action, there is always a criticism. Odds are, you'll
encounter far more criticism than acceptance. Learn from your mistakes, and
don't blame someone else.
8.Learn to take rejection. Don't be turned off by the word "No," because you'll
hear it often. Rejection can be positive if it's turned into constructive
growth. My experience is that ideas get better the more times they are
presented. "No" means "not yet."
9.Believe in yourself. One of the first steps toward success is learning to
detect and follow that gleam of light Emerson says flashes across the mind from
within. It's critical that you learn to abide by your own spontaneous
impression. Allow nothing to affect the integrity of your mind.
10.Sell yourself before you sell your ideas. Be concerned about how you are
perceived. You may be capable of dreaming up ideas, but if you cannot command
the respect and attention of associates and investors, your proposal will never
get off the mark, and you may not be invited back for an encore
As with all the other "ten commandment" articles I have seen, you should take
these "lessons for success" with "a grain of salt." Yet I'm betting that every
entrepreneur out there can relate to these, and most of the long aspiring and
unhappy entrepreneurs have broken one or more of the commandments. Maybe it's
time to confess your sins and start again.
Marty Zwilling
http://blog.startupprofessionals.com/2010/07/ten-commandments-of-entrepreneur.ht\
ml
startup, let me assure you it takes more than a good idea, a rich uncle, and
luck. In fact, the idea is often the least important part of the equation.
Investors tell me that they look at the people first, the business plan second,
and only then at the idea.
If you want some tips to beat the insurmountable odds, take a look at the
following concepts, adapted from Richard C. Levy's book, "The Complete Idiot's
Guide to Cashing in On Your Inventions." He was talking about inventions, but I
think his concepts apply perfectly to any entrepreneur starting a business:
1.Don't take yourself too seriously. Don't take your idea too seriously, either.
The world will probably survive without your idea. You may need it to survive,
but no one else does. But there is no excuse not to love and laugh at what you
are doing. I'm convinced that people who love their work are more innovative, as
well as happier.
2.The race is not always for the swift, but for those who keep running. It's a
mistake to think anything is made overnight other than baked goods and
newspapers. You win some, you lose some, and some are rained out, but always
suit up for the game and stick with it. It's not speed that separates winners
from losers; it's perseverance.
3.You can't do it all by yourself. Entrepreneurial success is almost always the
result of unselfish, highly talented, and creative partners and associates
willing to face with you the frustrations, rejections, and seemingly open-ended
time frames inherent to any business startup.
4.Keep your ego under control. Creative and inventive people, according to
profile, hate to be rejected or criticized for any reason. An out-of-control ego
kills more opportunities than anything else. While entrepreneurs need a healthy
ego for body armor, it can quickly get out of hand and become arrogance if not
tempered.
5.You will always miss 100 percent of the shots you don't take. Don't be afraid
to make mistakes. If you don't put forth the effort, you won't fail, but you
won't succeed, either. Inaction will keep opportunities from coming your way.
6.Don't start a company just for the financial rewards. We all want to make
money. That's only natural. But you should be motivated by the opportunity to
"make meaning" as well. People who do things just for the money usually come up
shortchanged.
7.If you bite the bullet, be prepared to taste gunpowder. Not every idea or
decision works. For every action, there is always a criticism. Odds are, you'll
encounter far more criticism than acceptance. Learn from your mistakes, and
don't blame someone else.
8.Learn to take rejection. Don't be turned off by the word "No," because you'll
hear it often. Rejection can be positive if it's turned into constructive
growth. My experience is that ideas get better the more times they are
presented. "No" means "not yet."
9.Believe in yourself. One of the first steps toward success is learning to
detect and follow that gleam of light Emerson says flashes across the mind from
within. It's critical that you learn to abide by your own spontaneous
impression. Allow nothing to affect the integrity of your mind.
10.Sell yourself before you sell your ideas. Be concerned about how you are
perceived. You may be capable of dreaming up ideas, but if you cannot command
the respect and attention of associates and investors, your proposal will never
get off the mark, and you may not be invited back for an encore
As with all the other "ten commandment" articles I have seen, you should take
these "lessons for success" with "a grain of salt." Yet I'm betting that every
entrepreneur out there can relate to these, and most of the long aspiring and
unhappy entrepreneurs have broken one or more of the commandments. Maybe it's
time to confess your sins and start again.
Marty Zwilling
http://blog.startupprofessionals.com/2010/07/ten-commandments-of-entrepreneur.ht\
ml
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