11. Never fear being different.
“Not being afraid of being different allows you to think outside of the box, and do unusual things … Entrepreneurs with this skill have the ability to [adapt] to change quicker since they aren’t afraid to jump on trends and [new] opportunities.”
– Alen Malkoc, Co-Founder and CEO of Optyn.com: @alenmalkoc
12. Test every assumption.
“If you introduce a change or enter a new market, test to see if you’re taking the right route. If your not, don’t be scared to adjust your direction or change course completely. Part of your success is reliant on you being more flexible than [larger competitors] in your market; use that to your advantage.”
– Will Swannell, Co-Founder of Hire Space: @WillSwannell
13. Understand the fundamentals.
“Be able to wear a number of different hats, so to speak, whether it concerns financial information such as cash flow, or marketing tactics such as targeting and segmentation. Every founder needs a basic understanding of a wide range of business functions.”
– Charles Lawrance, Co-Founder and CEO of Laughing Giraffe Technologies: @LGT_App
14. Be resilient.
“Had it not been for [resilience], I would have walked away from my business a long time ago. Resilience to be better, grow bigger, be more successful is what gets me up every morning, and ready to take on the hustle of each workday!”
– Inna Shamis Lapin, CEO of AvantGarde Communications Group: @agcg
15. Master your emotions.
“When people dream about quitting their job, and starting a business, they usually have no idea of the emotional strength and fortitude that is required to follow this path. It is critical to be able re-frame failures as important lessons on the path to success, as opposed to something to fear. As Robert Kiyosaki once said, ‘(Business) knowledge alone isn’t enough.” You can have, learn, or hire the business knowledge to compete, but if you don’t have, or acquire the ability to master your emotions, entrepreneurship can be sheer torture.”
– Nicole A. Dunbar, Founder of Congruency Incorporated: @NicoleCongruent
16. Teamwork makes the dream work.
“Over the course of the last number of years, I’ve been constantly reminded of what I don’t know. By staying humble and surrounding myself with brilliant people, I’m reminded that not everything is about me. I’ve been able to empower a team while growing an amazing company that people actually want to work for, and I’m always reminding my team that this company is as much theirs as it is mine and my co-founder Renee’s. As a result, they deliver kick-ass results that make us all look good. That wouldn’t happen if I were a know-it-all.”
– Heather Carson, Co-Founder and President of Onboardly Media Inc: @heatheranne
17. Increase your network.
“You will need to draw upon advice and experience [from others] to handle the multitude of unforeseen ‘bumps in the road’ … When your network believes in you and your product or service you essentially gain a marketing team at no-cost. Chances are, there is someone in your network that can connect you to the right person or organization that can springboard your business into profitability.”
– Wes Gard, President of G4 Advisors, LLC: @g4advisors
18. Fail with enthusiasm.
“Winston Churchill once said, ‘Success consists of going from failure to failure without the loss of enthusiasm.’ [Develop] enthusiasm the world is not familiar with … a selective short-term memory helps too. Failure will happen, but the ones who can get back up, learn from their mistakes and never let go of the dream will ultimately be the ones standing in the end.”
– Kes Craig, Director of Increase at CKTax Inc: @cktax
19. Manage your time wisely.
“Every entrepreneur should know how to manage their time by planning day-today tasks, projects, meetings, and time spent with family and friends. Time management is key to having a balanced lifestyle in order to make time for yourself and the other things that matter in your life.”
– Jennifer Frye, Founder and President of Clever Marketing & Events, LLC: @JenLynnFrye
20. Develop presence.
“As an entrepreneur you must have presence: physical, mental, emotional, and reality presence. Only a small percentage of our impact is in the words we say, up to 93% is in our presence, energy, and intention we bring to our work. This has huge implications on an entrepreneur’s ability to lead and communicate with employees, customers, and investors. Mental and emotional presence is required for authenticity as well as being able to communicate effectively. Lastly, reality presence requires that an entrepreneur is highly in tune with ‘what currently is’ — not just the dream or vision — but the now.”
– Anese Cavanaugh, Founder and CEO of IEP Method: @anesecavanaugh
What practical wisdom have you learned throughout your entrepreneurial experiences? Let us know in the comments section below.
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