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Entrepreneur advice: Break down brick walls

Lorenzo Carver's lessons: Importance of teams, longer runways, and sticking it out

Lessons learned from entrepreneur by Chris Caceres
September 7, 2009 | Comments (5)
Short URL: http://vator.tv/n/a64


In this segment, Bambi Francisco interviewed Lorenzo Carver, a five-time entrepreneur. Lorenzo's latest startup is Liquid Scenarios, a company that makes software to help assess valuations of private companies.

The number one piece of advice is to be very careful about who you're partnering and working with. "Trust that they're motivated by things you're motivated by," he said. The other piece of advice is to give yourself a long runway - longer than what you anticipate. Many times there are unexpected challenges and with time, there's more resources to achieve your goal. The third piece of advice is not to be afraid to be persistent. 

"Sometimes things take a long time to get right," he said. Short of telling someone to run into a brick wall, a person needs to at least try to get as close as possible, and possibly break through them. This last piece of advice is similar to what Vinod Khosla - founder of Khosla Ventures, former partner at Kleiner Perkins and co-founder of Sun Microsystems - who once said that entrepreneurs know how to crash through those brick walls. Khosla said in his "Lessons Learned' interview that entrepreneurs need to have the "bullheadedness" to "crash through walls" when times are tough, which will be often and frequent.


Related companies, investors and entrepreneurs

3197
Liquid Scenarios
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Description: Since founding bpCentral, our focus has been on increasing each user's competitive advantage each and every time they interact with one o...
8783
Lorenzo Carver
CEO,
Liquid Scenarios
Bio:     Lorenzo Carver, MS, MBA, CPA/ABV, CVA, is the inventor of bpCentral's Carver Import Algorithm, which enables impo...

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Comments

Comment_gbg
Kevin Rivers, on September 8, 2009

Excellent advice Lorenzo. Being persistent is definitely a major key to success. Persistence can take days, weeks, months, and even years. Great video! :)


Rene M
Rene M, on September 10, 2009

Lorenzo,

I had to learn the difficult way when it comes to trust. I had poor partnership in the past with people who did not see my vision or passionate about my business. They would love to be part of it, but they do not deliver therefore I had to do all the leg work. I am more vigilant on who I allow on my team or build partnership. Ofcourse we need to trust someone out there. Great interview BTW.


Lorenzo Carver
Lorenzo Carver, on September 11, 2009

@Kevin-Thanks for saying so! I appreciate that. Also, congratulations with all of the success you are having with WaTunes!


Lorenzo Carver
Lorenzo Carver, on September 11, 2009

@Rene - Always good to hear from you! I couldn't agree more. You have to find people you can put confidence in and sometimes that involves a lot of experimenting. For better or for worse, time sometimes ends up being the ultimate test.


Comment_gbg
Michael Edwards, on September 15, 2009

Awesome video. Definitely agree w/ getting the right teams and working with the right people. Due diligence is key on big, long-term deals of any kind.


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