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8 Rules for Succeeding as an Entrepreneur

Ironically, most of the people who have the created the most successful businesses had no real history in their market and even less so-called experience. People are more important than strategy.If you focus on finding people you want to be with and who you think are talented, chances are you’ll come up with great ideas together that will work. If you start with an idea and then try and find the talent, chances are you will be putting a square peg in a round hole. Investopedia CEO Says These Are the 3 Things Entrepreneurs Need to Know Know what customers really want.Business school teaches the importance of listening to customers. Sometimes customers don’t know what they need but can describe what they really want or what they hate. […] people don’t want to buy gasoline, but they do want to be able to drive to the beach. Market size is everything.When VCs look at any investment, they will try to forecast the potential market. If you are constantly putting yourself in the shoes of the customer and listening to your staff, you will eliminate the craziness. If you take on customers that pay well but make your employees’ life hell, they’ll rightly quit and then you won’t have a business. […] if your company has a laid-back, fun culture where you empower people and don’t take yourselves too seriously, then don’t hire people who want a corner office and an assistant. If you have the right culture (tip No. 6), hire amazing people (No. 1), and constantly put yourself in your customers shoes (No. 4), then as an entrepreneur you’ve created a company that should endure. At Next 15 we recently launched a funding program called Project Warhol. If any employee has a great idea for a potentially viable new product, service or business in the marketing technology arena, we will fund the initial development of the idea. The idea could be anything from product development to launching a startup.

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