STARTUPS
7 keys to entrepreneurial success
by Alan Knott-Craig: Successful entrepreneur and best selling author.
1. Show up
You can’t get the meeting if you aren’t outside the customer’s office. Show up till they can’t ignore you anymore.
2. Ignore & avoid the crowd
Whenever you try something new, the majority of people will think you’re stupid or insane. Especially if they have a vested interest in the status quo. On the other hand, if nobody thinks you’re stupid or insane, you’ll have too much competition.
Stay clear of the crowd.
3. Turn up the heat
Want to find out if your team has what it takes to win? Turn up the heat. Don’t bail them out. Don’t do their work for them. Let people fail or succeed on their own. If they drown, move on.
4. Sell it before you build it
Before spending money on your product, find a customer. That means promising to deliver something you don’t have, which can be uncomfortable. Better that than building something you can’t sell.
5. Manage downside risk
It’s hard to have your cake and eat it, but that's what good entrepreneurs do. Ensure your downside is limited, whilst you have unlimited upside.
Heads you win, tails someone else loses.
6. Work hard when you have to, chill when you can
If there is no pressure, chill. Just as night follows day, there will always be crises during which you’ll have to work harder than anyone should.
7. Sales is a five-day test match
If you’ve decided you must be in bed with an organisation, dig in for the long-haul. Most people fail to close a deal simply due to lack of patience.
They confuse corporate immobility with malice. They throw their hands up in disgust and move to the next company.
These people never win. Perseverance wins. Be the guy that sticks it out.
Useful resources:
Alan Knott-Craig is a highly successful entrepreneur and best selling author. He is based in South Africa and passionate about starting businesses in the telecoms, media and tech sector.