Paradies IP Reports by Chris Paradies
How to Be an Entrepreneur
- Be honest with yourself, your investors, employees & customers.
- Know your business better than anyone.
- Know your customers best.
- Have a product or service that your customers need.
- Manage cash flow.
- Seek early sales and revenue.
- Always innovate and improve.
- Leave customers wanting more.
- Don’t make them wait too long.
- Embrace failure as:
- an uncompromising teacher
- a prerequisite for innovation
- a crucible for character
- Work harder than anyone.
- Selflessly lead your team to achieve timely business goals.
Entrepreneurs fail, sometimes early and often. Honest entrepreneurs embrace their failures, learn from their failures, innovate and improve products and services based on their failures, and take ownership of their failures, without excuse. An entrepreneur knows the business and inspires others, within the crucible of failure, to rapidly retool and redirect efforts toward success.
Life and business are uncertain. However, attracting new customers, while keeping existing customers loyal and satisfied, leads to a predictable revenue growth. It leads to a sigmoidal curve, a statistically predictable exponential rate of growth that eventually plateaus, when the market is mature. The incrementally slow growth observed after a first sale is not linear. In fact, it is exponential growth. Take heart, and stay the course, if your customers are sticking with you.
To be a successful, never settle for failure. Learn from mistakes and move on smartly. To be entrepreneurial is to embrace failure, to learn from failure, to improve and create even more loyalty among customers, employees and investors, based on constant innovation and improvement, within the crucible of failure. Entrepreneurial success is only to be gained by 100% perseverance, followed by another 100% and another and so on.