No. 1 mistake: Too optimistic with their financial projections
Entrepreneurs often choose the path of innovation, without realizing the roller coaster journey that comes with it.
They have their good days and bad days. But at the end of the day, these adventurous thrill-seekers are the ones who are changing the world.
Today's entrepreneur is Adam Hoeksema, founder and CEO of Executive Plan.
According to his VEQ (Vator entrepreneur assessment test), he is a thought leader, and good at team motivation and marketing management.
I Am: First-time entrepreneur
Name companies you've founded or co-founded: ExecutivePlan LLC
Name companies you've invested in:
Name startups you worked for:
If you are an entrepreneur, why?
I want to change the world.
List your favorite startups:
Kiva, ChubbyBrain, Formstack, Bright Automotive
What's most frustrating and rewarding about entrepreneurship/innovation?
It is so frustrating when you work so hard, and yet only see incremental improvements in your business. It is so rewarding to see your work come to fruition even if it is only a small victory.
What's the No. 1 mistake entrepreneurs make?
Too optimistic with their financial projections. Why is it that every entrepreneur is a multi-millionaire by year 3 of their financial projections? haha.
What are the top three lessons you've learned as an entrepreneur?
1. Starting a business takes so much longer than you would expect
2. You can start a business that changes the world with very little initial investment.
3. If you put all of your eggs in one basket, then you should prepare yourself for the consequences of dropping that basket.