While there is no how-to guide for navigating the successes and failures you’ll face as an entrepreneur, there is plenty of brilliant advice and insights to be gained from individuals who have survived their own setbacks and gone on to thrive.
What can you learn from the stories of five entrepreneurs who share their stories on setbacks, challenges and unexpected opportunities? Read on to find out!
True or false: You do not need to be an expert in an industry to be a startup entrepreneur in that industry. Ed Dean says, true!
As an entrepreneur who has founded businesses both in new countries and new industries, Ed shared how he gets up to speed quickly in a new sector in a recent Inc.com article. Read his five tips for taking on the ultimate challenge as an entrepreneur: launching a startup in an industry you have no experience in.
John Brandon, contributing editor at Inc.com, just published an article entitled, “How to Help Your Company Adopt New Tech Tools,” with a byline reading, “Skip being an early adopter. Become a fast changer instead.” Brandon provides a solid argument for embracing change–a message we know all to well–but his follow-up argument deserves a closer look.
Other than a few minor political changes (ahem) and the distinct possibility that Apple could top $1 trillion dollars in iPhone-related sales, there are many other tech trends worth noting. Some of these, like 5G wireless, will emerge and take shape. Others will mature to the point where you might end up buying a few devices for your employees.
Last year, a venture capitalist who had expressed an interest in my startup, Iodine, passed on making an investment. Generously, and unlike too many VCs, he actually bothered to explain why we wouldn’t get his money. He was concerned, he said, that our growth at that time was a false positive–that we’d tapped into what looked like a great market but would see our growth max out relatively soon.
More often than not, a stronger bond comes from taking the team to a new setting with different challenges–outside the office. We asked members of the Entrepreneurs’ Organization’s (EO) Boston and Nashville chapters to share what methods they’ve used to strengthen their teams outside of the office. Here’s what they said:
At a time when certain job professions are withering away at the hands of technology and automation, there’s one skill set that continues to be more in demand than ever before: coding.
Businesses and organizations are constantly looking for website developers, software developers, and computer programmers. In other words, if you understand how to code and prove to be knowledgeable, you shouldn’t have any trouble finding high paying jobs that are flexible and enjoyable.
“Only 23 percent of startup founders believe that diversity leads to improved financial performance, according to Lawless Research, a market research firm. The findings reflect the tech industry’s current attitude toward diversity: Many say it is important, a priority, and a good thing to have, but they fail to recognize the business advantages of having diversity.”
What gives? Is there really value in having a diverse team, or is it lip service? Read the full article and post your comments below.
We were very intrigued by an article posted on Inc.com by Art Markman, a professor of psychology and marketing at the University of Texas. Professor Markman argued that one core behavior of brilliant thinkers was to “learn widely”:
“The best innovators have a base of knowledge that is both broad and deep. They start with an area of expertise that they deeply understand. They have a lot of causal knowledge, meaning that they are good at answering the question ‘Why?’ particularly in their core area of expertise. They understand both about the big picture in that area of work as well as the fine details of how things work. In order to keep up with the developments in there area of expertise, they are constantly learning more by reading, attending lectures, and engaging in discussions with other experts.”
“Innovators don’t stop with their core expertise, though. They know that the best ideas come from combining their core knowledge with insights that come from other areas. They recognize that drawing analogies from one area to another often provides the basis for new insights. As a result, innovators also explore new intellectual terrain regularly.”