One of the keys to success for every entrepreneur is learning how to find and grow a team. In fact, if an entrepreneur cannot find people to share in the vision, he or she will have a tough time raising capital or building the business.
In this video, I share what I’ve learned about keeping great people.
I believe that being an entrepreneur is an incredible profession to choose. Creating an idea, bringing it to market, and getting the opportunity to change people’s lives for the better is a craft worth pursuing.
It takes a lot of skill, perseverance, drive and a bit of luck to build a company that provides a place for employees to flourish and grow, while meeting a need for society.
Watch why I explain why I think being an entrepreneur matters.
Thinking about raising capital? It’s a long journey and not for everyone. There are right and wrong ways to go about it, and there are better times to raise vs. going at it alone. Here are my thoughts on when you know it’s the right time to raise money.
In the Internet space, it’s so easy to get caught up in the big success story that comes piped in from Pando or TechCrunch that shows how a company went from zero to hero in an obscenely short amount of time. While it’s true that, on occasion, the ‘up and to the right’ explosive growth happens for some companies, it’s not the norm and most companies – even the success stories – struggle to find a model and fit that their customers will pay for.
Case in point, AirBnB, the house renting site for regular people. I’ve heard so many times about how they ‘came from nowhere overnight’ to take on the likes of Hilton and Hyatt. I’ve heard them being used as the prime example of why we’re in another 1999-2000 Internet bubble. But the truth of the matter is that their road to building a billion dollar company (or $10B in their case) was fraught with struggles, mistakes, starts and stops, frustrations, and a few wins sprinkled between the failures.
One thing Joe and Brian continued to do well is iterate and believe. The takeaway lesson for entrepreneurs is that there is a good chance that the original idea being worked on will need to be modified as you get more information from the customer and as you see how the world changes around you. Stay nimble, don’t believe your own hype, continue to iterate, stay true to your values, but question everything else.
Sometimes, the race is won by those who decide to just keep running.
Crowdsourcing – which means gathering information from communities and giving more people access to the information. So, this crowdsourced app instantly connects you with other drivers in real time who are reporting back on accidents, police traps, and other hazards along your route.
Story: Spring is in the air, and you decide to hop on a plane to meet up with some friends in Miami. You live near SDSU, so using WAZE, you can immediately see – using feedback from other drivers – if you should use the 8, the 15 or an alternative route. It tells you where traffic is slowing and keeps you on time to make your flight!
Tell CityBot the types of activities that interest you and in a matter of seconds, you’ll receive a personalized trip.
Story: Let’s say you just flew into Miami to meet your friends, except your friends are lame and didn’t plan anything. You can whip out Citybot and – based on your prior interests and events – it can tailor an awesome day for you. You can start off getting afternoon drinks at a Southbeach bar, roll into the best shopping along the strip, and end up at an authentic European restaurant where you meet some cool people from Spain!
…AND the startup is located right in Downtown San Diego!
Story: So, you finish up the night in Miami and realize, “Uh oh, no one booked a hotel room!” Don’t worry – HotelTonight has you covered! All you have to do is open HotelTonight, it automatically knows where you are and serves up the best discounted hotel rooms open right now. You can pick from economy, chic, or luxury. Just pick your hotel, swipe once, and walk in to get your keys. Pretty nifty!
Instantly translates printed words into your native language using your built-in phone camera.
Story: So, your friends in Miami are still kind of lame, so you decide to jump on a plane and head to Madrid with your new buddies you met at the European restaurant. Wow! What a great time – except that you don’t speak ANY Spanish! No problem! With Wordlens, all you do is hover your camera over printed signs or books, and it instantly translates it back into English for you. Check it out!
FREE to download and under $5.00 for one translation type (such as English to German and vice versa).