In some business school, the lecturers teach the subject about entrepreneurship as though they are already pros and have had done a thing or two about starting up a business. And some business schools have a concentration of study on entrepreneurship, where each bachelor student that enroll thinks that he or she will become an entrepreneur in an easy way and reach success.
However, if we dig deeper and interact with real entrepreneurs, there are plenty of things that are hard in real life but in classrooms are made as if it is not such a big deal. These things are the things that are only felt from real experience. Real plunging in to the water, they will feel the hurt, and the fall and landing flat on the face.
Being The Best at what you do
An entrepreneur on his own is an inventor that has technical skills that are above average but also has business insights. The secret is that they won't tell you that they busted their **s to reach the best on their playing field. At least high enough to make a difference. They never tell you that they learned day and night on a field to avoid failure and win the competition. They understand the saying that only the top 10% of people in a certain field will get the money while the 90% are struggling. They study hard to reach that top 10% whatever it takes.
Competition is Fierce
Successful entrepreneurs won't tell you the fact that if you are entering a field that they are in, they will work 24 hours to kick your but of the competition. You don't believe me ? OK, now put yourself as a shop owner and then suddenly two blocks from you there is a new store. What would you be acting just mild ? Defending your customers right? Or you have a website in a niche you are damn good in. And suddenly some new guy builds a website in your niche and getting visible day by day.
That's why the point above is important. If you aren't good enough in what you are doing, then you will just become statistics.That 95% failure in the third year of business.
If a giant business are dwarfed by a couple of guys in a dorm room, its not a new story right ? Like Facebook beating the already existing MySpace or Frienster. Why? Because of sufficient high grade technical skills and a good idea that using school email addresses and tight privacy to see only schoolmates profiles will make people reveal their real selves. A social problem solved with technical solutions.
Not Change The World
The successful entrepreneurs nowadays execute something that is far different from what they motivate you at biz school to conduct. Its not create a product to change the world. The success entrepreneurs focus on the gap of improvement of existing products and services. Why care for reinventing the wheel, There are plenty of tools to build something, there are plenty of scripts to use to start your online business. But the ultimate question is : what can I give that my predecessors do not have in their product. They say the winners are not winning in a mile but just a nose as athletic champions do. Just a little bit better then the competitor will change everything.
|Source : Getapplause.com|
Failure is a Prerequisite
How many times have you failed has been one of the most important questions for the real entrepreneurs when they talk to you when you are just starting. You will probably answer : "This is my first time in the field, and I will do my best and I will be sure I will succeed. You'll see.." But the sad truth is that failure is part of the process. The attitude is not saying it as failure. but a feed back. They do it over and over again. This is related in the first point : Being the best. They study deeper and increase their knowledge to reduce the failure and failure that they encounter. Then they will stop making mistakes and start succeeding.
You probably heard of the start ups that experience downtime of their site because of scaling problems. The real entrepreneurs tackle the problems and recode it so it becomes better and better. They embrace the failure and use that energy for learning and improving. Their attitude is somewhat like Thomas Edison's where success is a statistical percentage of how many attempts we have done. Nine failures at least the 10th would succeed. Some stopped trying at the second and never continued.