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Entrepreneurs' paradox

Just take my advice... I told you so

Lessons learned from entrepreneur by Gary Silver
September 5, 2008 | Comments (2)
Short URL: http://vator.tv/n/3dd

It seems the entrepreneur has the impossible task of solving the "Entrepreneurs' Paradox" (the title of my book that I'll never have time to write). 

Entrepreneurs' Paradox

 


Do this


But, do this  

You need vision, trust your instincts, break through the herd mentality.   

Research, listen to your customers, there is wisdom in the crowd. 

Think big, VC's like big plans.   

Start small, find a niche.  

Just do it, execute first and foremost.  

Slow down, plan.    

Get the product out, flaws and all.   

You only have one chance to make a first impression.   

Start raising money before you need it, and a small slice of a big pie is better than a big slice of a small pie.  Bring in people smarter than yourself.

Don't sell equity too early and cheaply.  Don't give away your control.

Share your ideas to get ahead, "Don't worry about people stealing an idea. If it's original, you will have to ram it down their throats."

VC's (few, but still...) will reject you and share your ideas with their portfolio companies, "Just because you're paranoid doesn't mean they're not out to get you."


It can be argued that the devil is in the details, and that good judgment is needed to obtain the proper balance.  The entrepreneur is responsible for having the skills to walk a tightrope with a blindfold on.  Contradictory criticism of the entrepreneur (as CEO) is always just around the corner and there is always a way to point a finger for events beyond the grasp of his/her actual ability to control.

(Note: This post was republished to highlight)


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Comments

David Saad
David Saad, on September 4, 2008

This paradox is very real. It is indeed a balancing act. My take on it is to listen, analyze, but then follow your intuition. There are many ways of skinning the cat. The right way is the way that you know how.


Mark Evans
Mark Evans, on September 10, 2008

It's a tight rope for sure, and one that's easy to fall from... As David Saad mentions in his comment, "The right way is the way that you know how" And the way most of us "know how" is through the discovery process of what works and what doesn't work, i.e. failure and success.

---- Great list, too true.


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