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What's the number one lesson you've learned from entrepreneurship?

What's the most important lesson you've learned from being an entrepreneur, or observing other entrepreneurs? How have you succeeded in fulfilling your main goals? How have you dealt with small failures along the way?

Many of the experiments I've been conducting to try and figure out to best service clients have been failing. I'd also like to know the best way to deal with these failures in order to more quickly reach success.

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1

If you don't ask, you don't know if you can get it. It never hurts to ask. Whether it's to negotiate pricing or requesting additional changes to a prototype. What do you really have to lose? All you'll get is a yes or a no. If you don't say anything, you'll never know and you've missed a potentially beneficial opportunity. You can always hit the "redo" button daily if you find you've taken a wrong turn or made a bad choice. Business, just like life, isn't meant to be difficult. Being an entrepreneur is meant to be fun because you're living your passion, purpose, and truth on a daily basis. That's the ultimate dream for all human beings. It's why we're here on the earthly plane - to live out our purpose in its entirety. However, remember one thing: If you're pushing the boulder up the hill all the time, you're going the wrong way or something needs to be changed. If the boulder is rolling down the other side of the hill at break-neck speed and you're in the "river of synchronicity" where magic seems to enter your life almost on a daily basis, that's your sign the path you're on is bang on. Keep on, keepin' on!

0

You need to be very strong. Never give up with failures because every business faces growth and failures. Second thing is time management.

0

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0

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5

Hi Bryan, I've learned from entrepreneurship that it doesn't have to be a solo mission. For many, the allure of entrepreneurship is that you get to be in the driver's seat when it comes to making business decisions. Many entrepreneurs start off working by themselves or have a very small team under them. This is a pro of exploring entrepreneurship, but it doesn't mean you don't get lonely sometimes in your business. Despite having no upper management to answer to, there are numerous places you can go (online and offline) to get advice on your business situation. If you live close to a city, I would recommend searching for local innovation groups in your area. Most of these groups hold weekly networking events and it is a free way to connect with other entrepreneurs who are in the same phase of business as you. If you don't have time to connect offline, you can make use of online communities like Business.com, AMEX Open Forum, or Alignable to name a few. Don't be afraid to ask for help!

0

Hi Bryan,
I'll give you three which I think apply to just about any type of business:
1. Make sure your business model and industry allows you to be scalable, automated, or ideally both.

2. The most important lesson is to ensure that your business model has the mechanical room to enable both scalability and automation for as much interaction as possible.

3. You only fail your goals when you don't learn your lesson the first time. Failure is part of the road, and you want to bathe in failure up-front as much as possible.

0

Always be networking. You never know when you need a contact somewhere. People you met years ago might end up being valuable. Always nurture your relationships.

0

That entrepreneurship takes a lot of perseverance. There will be both ups and downs and you need to be prepared to persevere through the challenging times.

7

"you miss 100% of the shots you never take" - Wayne Gretzy said. That's number one lesson.

Thorsten

Anonymous User
3

A lot of good answers bellow and a good question - even though I'd say if you fail in a startup its not just one thing. A friend just closed his start up and it was painful for all of us that at some point helped out with marketing, operations, etc.

What I absolutely thank this friend of mine for is this post, where he share what he now knows went wrong. There's some invaluable lessons.

"Seven Lessons I've learned from failure" http://therenaissancegeek.blogspot.co.uk/2014/08/seven-lessons-i-learned-from-failure-of.html

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