6 lessons from a life in entrepreneurship
On 2nd august we got together our founders to talk about their experiences in creating and running startups and what that they had learned over the years. These were some of the key takeaways from #Centum Live:
Lesson 1: Entrepreneurs often expect things to turn out as planned but this is rarely the case
Until you actually start work on it, your business idea is based on assumption that may or may not be true.
Lesson 2: Your team is everything. Allow room for mistakes to encourage innovation.
Your team is the foundation of your success. To encourage innovation you must make experimentation a central part of your strategy.
Lesson 3: Patience is a virtue
It takes a lot of time and effort before your startup begins to pick up. Your initial click here assumptions are probably faulty and it will take some trial and error before you get things right.
Lesson 4: Want to make magic happen? Communicate with your customers and team
Customers and teammates are your most reliable sources of information on what the reality is and what is needed.
Lesson 5: “Test and validate your ideas!”
An idea is based on assumptions that may or may not be true. Rather than use up all your resources based on your assumption it is best to design your business model to test these key assumption first and learn as you go.
Lesson 6: Rejection is part of entrepreneurship since not everyone will understand what you are trying to do.
Focus and believe in your dream.