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Entrepreneurs do it for money but we also do it for love.
That means the quality and integrity of our partners and the love and respect that we have for each other are that much more important.
We need to be prepared to build it from scratch and if we are lucky, eventually growing it to be a sustainable company.
Therefore when we start a company, we need to be prepared to be in it for the long haul.
I should know. I had lived through the ups and downs a few times as a struggling entrepreneur.
No one can flip a company in a matter of months and even if our financial systems were to recover, those days would not return.
Recommended Daily Reading: *** A Lot Can Happen In Five Years (by Fred Wilson) *** http://www.startupforless.org/ #startup #advice
First-time entrepreneurs often choose between false choices, between audacity and practicality and between making meaning and making money.
To succeed, we must figure out how to provide our constituents with what they need and what they want.
But as the company grows and as more and more people are brought together, the only thing that everyone has in common would be money.
Building a successful startup requires the perfect alignment of many people’s diverse interests and desires.
So from the beginning, as an entrepreneur, we must focus entirely on making money ...
... and when we are successful in making money, we will be making meaning as well.
People are driven by many things: money, fame, power and destiny. An entrepreneur’s never ending job is to align moving vectors.
So clearly helping others make meaning is an important part of our repertoire.
Recommended Daily Reading: *** Five Startup Mistakes to Avoid (by Steve Strauss) *** http://www.startupforless.org/ #startup #advice
Recommended Daily Reading: *** Be Thankful for Entrepreneurs in America (by Gary Reece) *** http://www.startupforless.org/ #startup #advice
It is not true that we romanticize failure. Americana does not tolerate failure.
Being a foreign-born naturalized American, I can say with evidence that America is unique in the World in how we deal with failure.
It is the frontier spirit in us, that we are equal, that we live in a meritocracy, both in success and in failure.
Indeed we have much to be thankful for.
We just don’t overly penalize people who fail because we truly enjoy seeing the spectacle of fellow Americans rising from the ashes.
My father has given me many advices, the best one turns out to be "don’t touch it, just let it heal."
Move across the street, move across country. Give it time. Give it distance.
Don't try to make it up to them and don't try to shift responsibility to make yourself feel less guilty or less embarrassed.
Everything I need to know about bouncing back from a setback I learned from my dad who taught me how to ride a bicycle.
Find new market opportunity. The old one is dead; no need to beat on the proverbial dead horse. It is time to move on.
After you fail, be sure to stay away from your former colleagues and your former investors for as long as you can.
Whatever you do, don’t make it worse. Go make new friends. Go find a new team and new investors.
Recommended Daily Reading: *** Dealing with Post-Startup Depression (by Sean K. Murphy) *** http://www.startupforless.org/ #startup #advice
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