ADVERTISEMENT

“We’re looking to make progress quickly, either fail fast or succeed fast.” Daniel Hullah, Venture Capitalist

  1. Most businesses fail, but some succeed brilliantly. Identify which category your business fits quickly and then make a decision.
  2. The most limited resource available to anyone isn’t power or money. It is time. Use yours wisely.
  3. Nothing is as clear as market feedback. Seek it early and often in your product and service development.
  4. Entrepreneurship levels are correlated with unemployment levels and GDP growth rates. High unemployment forces entrepreneurship. High GDP Growth encourages entrepreneurship.
  5. Necessity-driven (need a job) and opportunity-seeking (see a chance to make a lot of money) entrepreneurs succeed at equal rates.
  6. Consider a new venture to be a complex examination of an initial hypothesis: Is the hypothesis correct, incorrect, or something in the middle that needs clarification? Researching the answer to this question is the role of the entrepreneur CEO.