8 Core Beliefs of Extraordinary Entrepreneurs

beliefs entrepreneurs

What does it take to be an extraordinary entrepreneur? You know, an entrepreneur who has a vision for a business, rallies support to build it and then grows it into one of the most innovative companies in the world…what does it take to be an entrepreneur like that?

Well, I may be young, but I have been an entrepreneur for over ten years. My first SEO consulting job was in high school, where I built and ran a successful agency. From there, I co-founded a few software companies. I was fortunate to grow up in a family of entrepreneurs, so I’ve heard a lot of great advice on what it takes to succeed as an entrepreneur.

I’ve also seen that all great entrepreneurs subscribe to a core set of beliefs. So, what are those beliefs? Here are eight:

Belief #1: Make a decision and go!

This was one of the first lessons I learned when I started my first business. It was extremely hard to get used to making a decision and then taking an action on that decision.

I was so afraid I was making a mistake! Since then, I’ve learned that making a mistake is not a bad thing. You actually learn from those mistakes, which helps you make better decisions down the road.

You will struggle with hiring and firing people, project budgets, office space and advertising creative. When you first start off in business, you will take days and even weeks to answer these questions.

This core belief actually came back to me when I lost a million dollar client. They were happy with the service I was providing, but they wanted to know what else I was going to do to take their business to the next level. I had a few ideas, but I didn’t make a decision on which idea I was going to act. Long story short, I took too long to make a decision, and I lost a $1.2 million client.

Belief #2: Show passion, not perfection

It’s a lot easier to work on a project behind closed doors for years until you get it perfect and then ship, but that just won’t work these days.

Often, when I talk to young entrepreneurs who are “working” on a project behind closed doors, I realize they are afraid to ship because they don’t want to be ridiculed. I always tell them that people don’t want a perfect product…what they want is a passionate person behind the project.

If you can show people you are passionate about creating a perfect product by releasing it, then getting feedback and iterating…then people will jump on board…especially if the product solves a real-world problem.

Don’t try to perfect anything because if you perfect something that no one wants to use, you will just end up wasting money.

At KISSmetrics, we created two other versions of our product that are no longer live. We spent over $500,000 trying to perfect the first version of our product instead of just getting it out there. Since then, we have scrapped that product. If we used the “minimal viable product” approach, instead of trying to create a perfect product, we probably would have saved that money.

Belief #3: Avoid the ugly baby syndrome

One thing that entrepreneurs are in the habit of doing is falling in love with their idea even if it is a bad idea. This is like parents who fall in love with their new baby even though everyone knows newborns are ugly.

You need to be objective with your business, your plan and your product. Everything on the table needs to be up for a debate if you truly want to succeed.

Seek out mentors to help you and get advice from them on a regular basis. Listen closely to what they are saying. Listen closely to what your partner is saying and, more importantly, your customers.

This doesn’t mean you have to surrender every idea, but sometimes you may have to make drastic changes.

The CEO of Starbucks, Howard Schultz, tells a story of when they brought in the founder of Costco, Jim Sinegal, for advice. Jim said, “You know, I don’t want to be rude, but this is exactly the wrong thing to do.”

Schultz listened, realized Sinegal was right and shifted the company’s strategy.

One way to protect yourself from falling in love with your idea is to train yourself to fall in love with solving people’s problems. It doesn’t matter what you create to solve their problems, but as long as you do it in a simple, easy and ideally affordable way, you will be fine.

Belief #4: Find the sweet spot, then scale it

Once you have reached your product market fit, there will come a time when you need to figure out how to scale your product.

If you scale your product before people fall in love with it, you’ll tarnish your brand. What I mean by this is that people won’t be happy with your product, so they will say negative things about it. This will cause churn, a decrease in sales and a bad brand that will be hard to fix. Once people think negatively about your product or brand, it’s hard to change their perceptions even if you fix your product.

When I first started Crazy Egg, we spent thousands of dollars on marketing before we launched the product. We had a ton of churn in the beginning as there were a lot of product issues when we launched. The marketing spend had a negative ROI, and if I had to do it all over again, I would scale the business after I fixed the major product problems.

Belief #5: Don’t think about taking a leap, just take it

Speaking of perfection, there is never a perfect time to become an entrepreneur though being young and without a family is certainly a better time than being older and having family responsibilities.

Once you take the leap though, you are committed. You need to quit your job and become your new business. That’s a huge risk, for sure, but if you don’t take the risk, what’s to encourage a partner or investor to take the risk on you?

This commitment needs to infuse everything you do. Another piece of advice: never think of minimum amounts. Never think that you need to secure just four clients a month to succeed or you just need to make 200 calls before the money pours in.

That never happens. Your projections will more than likely fail. This means you need to have a mantra that says there is no failure…just wild success! So, stop wasting time and take the leap.

One of the most common emails I get is people asking if I would invest in their business idea. When I ask them how far they have gotten, most people tell me that they are still at the idea stage and don’t have the time to go further as they have a full time job. If you are not willing to quit your job and take the leap into entrepreneurship, investors won’t fund you because it shows that you don’t believe in what you are doin .

Belief #6: Entrepreneurship isn’t a war, it’s about solving problems and turning a profit

Some entrepreneurs treat business like it’s a war in which you need to defeat and destroy your competition. But even if you can actually do that and become number one in your market, you will still fail if you aren’t turning a profit.

For instance, at KISSmetrics, we don’t focus on killing our competition even though they copy our features and steal our designs. Instead, we focus on solving our customers’ problems and growing our revenue.

The truth is that if you can find a way to differentiate yourself from your competition in a meaningful way, your revenues will go up. Plus, if you are in a new market that is big enough, it doesn’t matter what your competition is doing as there is enough room for both of you.

Belief #7: Hire slow, fire fast

The single most critical part of running a successful business is to hire the right people…and fire the wrong ones fast.

Many people spend a lot of time and energy trying to select the right person based upon past performance, but I’ve often found that what you learn in an interview with somebody doesn’t equal good performance down the road.

I like to see people get their hands dirty and watch them adapt to stressful situations. When I interview people, I rarely talk about what they have done or even look at their resume. Instead, I ask them questions related to what they would do for my company and how they’d get that work done in a timely fashion.

If you happen to hire a few bad people, keeping them will hurt your business. Mark Zuckerburg famously fired people who were loyal to him but couldn’t handle the growth. Zappos even paid people to leave the company if things weren’t working out to make the transition easy.

Belief #8: Learn from your first, earn from your second, give back with your third

If you are a serial entrepreneur or you are on your first business but think you have two or three more in you, then you will likely get a lot of experience, business wisdom and wealth out of those ventures. It will take years before you get there, but if you keep at it, sooner or later you will do well.

Your first business is going to be full of mistakes and lessons learned…that’s a good thing! You can apply those lessons to your second business, where you should get it right and become successful. Then, on your third business, you can give back.

You can give back money to other startups, but you can also give back experience and help out other entrepreneurs or volunteer for charities. Don’t ever expect anything in return, but instead just give back like your mentors did with you.

Conclusion

Now, if you have all of these core beliefs in place on day one as an entrepreneur, you are going to become extraordinary, right? The answer is no. The thing about starting and growing a business is that you will grow as a person yourself…and that is one of the best types of education an entrepreneur can get!

So, take a minute to re-read the core beliefs I shared above, then print them out and start working on becoming the next Bill Gates or Larry Page.

What other core beliefs do you think extraordinary entrepreneurs have?

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Comments

  1. Good article, Neil.

    I think another core belief of extraordinary entrepreneurs is that focus is key. In my ventures to date, whenever my team and I focused on one single objective and made sure not to be tempted by other distractions / opportunities, we accomplished the most. I’ve found this true whether the focus was on improving our marketing, or building a product. It’s a belief I do my best to continuously practice.

    • Focus is a huge key. I should have added that to the list as I used to do too many things at once and I lost a lot of money along the way.

      If I focused all of my energy on one thing, I would have been a lot further in my entrepreneurial career.

    • Jonathan Bird :

      I completely agree with you Matt. Focus and passion are the two things I look for in a person when searching for a person to join my team.

      Unfortunately it can become rare at times but when you find someone like that, make sure you keep them.

      I completely agree with Belief #2. Passion is so important and if you build a community-based app and people can see that you’re trying to make it better just for them. Great example is Pandora. Every 10 or 20 songs, the guy comes on for 15 seconds to thank you for using his app.

  2. I definitely agree with #1 and #5. I think it’s important to not wait for everything to be perfect but just get started. I remember I wanted to have my site be “perfect”, have an office line setup, business cards ready, etc until I even started making calls. You just need to get up and start calling and hustling. The time will never be perfect.

    Getting the first client is the hardest but like you mentioned in #4, once you know what is working, just need to scale it up. The first first/$100 bucks/contract is always the hardest but once you have a strategy in place that works, it’s about scaling it up.

    This is only my first business so I’m expecting to learn a lot, I’ve definitely learned from mistakes so far….but I’m looking forward to the future to earn and give back :D

    -Amir

    • Very true Amir. Setting up a website and making changes to it when your business is starting to kick off has never been so easy. And yup, I’m always picking up lessons in everything that I do!

      All the best to you with your business!

      -Wayne

    • Actually it isn’t getting your first one that is the hardest, it is getting the 10th and 20th. As it isn’t always easy to scale a business.

      But for the first one, you can try to go to friends or family, which won’t work for your 10th or 20th one.

  3. You Are Rock @Neil Thank You Very Much….

    I have Been Reading Your Since Last Year. Because of You Have Started By Blog.

  4. Great article Neil. I can personally attest to learning most of those 8 tips :) I’m a born risk taker but thankfully, over the past 12 years of doing business, I have learned from my many mistakes and am a better person because of them ;)

  5. Great post Neil! #1 and #5 are the ones that resonate the most with me. Any success I’ve ever had as an entrepreneur has come from taking MASSIVE action.

  6. Again quite a good post.
    Its hard to find good employee, and its harder to fire them when we have emotional bond.
    The 2 most destructive things howerver in my opinion are
    1- the ugly baby
    2- the perfection syndrome
    They are supposed to be in love with entrepreuneurship, not with an old ugly not tweaked idea :s
    But the perfection is really the worst thing to do in a world of iteration. Everything is about iteration. Do it wrong fast, then gatter data and optimise. Its impossible to do the full management cycle without the ”control”, the data, the metrics… How to plan well if you have no real data ??? Its only speculation , so wake up, fire and aim ! Time to market is so important that while they spend all their budget on shining a lure, they spend all the marketing money!!!!!
    Beeing an entrepreuneur is more than ever the lifeblood or our economy so we have to adopt winning behavior !
    Thanks again !

    • The data part is very important. You should always try to base decisions off of data versus your gut. That will help you get further faster as you will make less mistakes.

      Just make sure you look at both qualitative and quantitative data.

  7. Excellent post Neil. :)

    So many people get stuck with #1 and #2 that they never get their idea off the ground. And many of those that get beyond 1 & 2 end up stuck due to #3. Then…building off your successes is the key to really exploding…love all those points.

    I think one thing that makes a great entrepreneur is the desire to explore…not only to learn and experience new things, but to experiment…to get dirty. To me, part of being an entrepreneur is being an explorer.

    • The experimentation is my favorite part about being an entrepreneur. I just love trying things out, learning from them, and then tweaking.

      I get really into experimenting more than anything else.

  8. Awesome article Neil !!! Almost its 2 weeks i left my job and started my own business, this articles gives me more idea on entrepreneurship and things to consider in business, I like the way you do things, thanks for sharing :)

  9. Nice to hear the recurring theme that you’re gonna fail and make mistakes. It’s a part of life and how we learn and grow (personally an professionally). What you do from that point is where the real magic happens..

  10. Found myself saying “absolutely” all the way down! With a slight waver at the last – I think we can build some giving along the way ;)

    I’ve got to reinforce the “hire slow, fire fast” tho because I see SO many staffing mistakes not tackled early enough. And not just in small businesses.

    Great article, thanks.

    Cathy

    • Especially when you first start your company, it is really important that you are really picky with your first hires. That’s when you set your company culture and you don’t want a bad one.

  11. It’s difficult to avoid the ugly baby syndrome. Personally I find #1 to be the most difficult. Not because I can’t act on the decisions I make but rather because I always want to make the best decision and I spend too much time wondering if there is something I could do that would be even better. This tends to slow down the process.

  12. Great article! I spend a lot of time in projections which helps me figure out what jobs to go for, but I think you’re right – need to spend less time planning and more time actually doing the work. :)

    • Especially when you are first starting off, acting in most cases is more important than planning. If you spend too much time on planning, you won’t get anywhere.

  13. A wise person once said to me:
    “You can’t get to second base with your foot still on first.”

    That got me moving!

  14. Hi Neil,
    Thank you once more for your input. What you said are things that we (entrepreneurs ) know but forget when we are involved with taking the business out there. I really enjoy reading your blog and I really appreciate that you take your time to publish information that is really easy to read and useful. Please keep up with the good work and keep sending your posts. Also if you can follow my mew business http://www.ilovemyhighstreet.com on Facebook and twitter . I’ve finally decided not to wait anymore and my idea is almost ready to get out there (not perfect) but I think is pretty good.
    Thanks again,
    Renata Hunter

  15. Kannan Nambiar :

    Perseverance

  16. Manish Dudharejia :

    Of-course article is really nice. BUT, one thing everyone should seriously learn about the way Neil has written each of the sub-titles (Belief heading). All of them look pretty meaningful, clean, clear, and concise.

    I have already started stimulating myself to write such sub-titles which really increase the article readability and encourage readers to get engaged with an article by either leave comments or sharing in social network websites.

    Again hats off to your writing skills! (Again formality :D)

    • Thanks Manish. After 6 or 7 years of writing, you end up getting good at it. I’ve probably wrote a few books worth of content at this point.

      • Manish Dudharejia :

        Hey Neil,

        It’s good to see your reply. I believe that I should soon end up getting good at it (in fact it’s already started) because I’ve been working in the industry since last 5 years -:)

        Can you please share the books names written by you?

        I appreciate it.

        Thanks!

  17. Great tips here, perseverance and passion, especially passion, are the keys to being a successful entrepreneur :-)

    • Yep, because if you aren’t passionate about something you are more likely to quit. Plus if you aren’t passionate you won’t put in the hours that you need to succeed.

  18. A spelling mistake, I guess , on belief #3 – Listen closely to what you** partner is saying and more importantly your customers.

    **your ?

  19. Hmm..!! One more…dont think I am a perfectionist! ;) When I interview people, I rarly** talk about what they have done or even look at their resume

    **rarely ?

  20. THANKS, Neil, for another TERRIFIC post! Your posts always provide so much USEFUL information plus INSPIRATION!

    I would like to add to your list FOCUS, about which I recall reading in your posts, and also CONSISTENCY.

    CONSISTENCY is actually one of the things – among other things – that stands out about your blog. E.g., today I got up in the morning and as I was making coffee I thought, “Well, it’s Thursday and there’s got to be another great post from Neil.” I go to my e-mail and sure enough there is an e-mail from you with a link to this terrific post, and it was a real treat to read it. Same thing last Monday. Same every week. I am not saying this to flatter you :) I am just describing it as it is :) And even if you don’t post every now and then, that’s nothing and totally understandable. – Because you publish consistently, always on target, always terrific content (and always take the time to read and reply to readers’ comments)!

    Of course, it also gives the impression that this is how you are throughout your business – you deliver!

    Since we are on this subject of “blogging,” I’d add that I have tried to read a few other people’s “blogs.” For quite a few of them, I loved what they had to say, their talent and found the information very useful and inspiring. BUT: there is no consistency. They post when they feel like it, get off into unrelated subjects, etc. Of course, they are under no obligation to post consistently on their blogs. But it is disappointing, so I don’t even go to their blogs except once in a while. So I just settled into a routine of reading your blog about twice a week as you post and some Russian guy’s blog who also “religiously” consistently posts (in his case every day, but in his case his blog is a much bigger part of his “business”).

    • It really is the key. I learned it from John Chow and since them my traffic keeps climbing.

      The funny thing is, I enjoy being consistent as I look forward to reading and engaging with people who leave comments on the new posts I write twice a week.

  21. This is a great post, and it provides some good insight into what makes for the best entrepreneurs. I have compiled a list of resources for entrepreneurs if you want to read more on the similar topics (http://wiki.waveborn.com/entrepreneurship).

  22. Great advice.

    It’s quite confronting taking that leap to leave your full time security blanket.

    I’m a few months away and am ecstatic. It’s feeling like more of a correct decision everyday!

  23. Great stuff neil. Next article should be how to fire an employee without hurting him/her? HAHA.

  24. Might want to rethink ‘ugly baby’ analogy. New parents are genetically predisposed to fall in love with the new baby IN SPITE of it being ugly.

    Good post though!

  25. This is an excellent post and did provide some tips or insights that is more helpful in my daily business dealings. I struggle with finding the right people and sometimes tend to recruit fast without proper interviews conducted following the conventional way of recruiting. Does help me to think outside the box on how to find great people to join my team. Thank you :)

  26. Hi Niel. This is one of the best articles i have read for entrepreneurship. My daily routine is to open my email and look out for any emails from kissmetrics or quicksprout.

    I can say that it has been rewarding for me to read your emails.
    Thanks,
    One more thing, can you be my mentor ?

  27. Some great tips here. I just graduated college but am deciding to work full time before starting my own business. I guess I will take a leap after some work experience

    • Sounds good, it is important to get as much experience as you can. Just remember that sometimes when opportunities come around you should take them even if you don’t think you are ready yet.

  28. Neil, thinking back about your previous post about Conversions. Some people commented that their internet businesses are too small to hire CRO experts, which is totally understandable. But I’d think your KISSMetrics (if they are using it already anyway) should enable them to do CRO themselves, with some guidance. KISSMetrics (from my understanding) will give them the needed data, which of course is key. If they want to run A/A, A/B or whatever tests, they can do it themselves. Then of course randomizing into different “treatment groups” (as they call it in Statistics) is crucial, but this can be accomplished DIY too. Some step-by-step instructions can be provided to them on what to do, basic experiment designs, and instructions on DIY statistical tests on which tests to use for what and how, and how to interpret the results. Then include a bunch of examples, with specific instructions and screenshots. Getting the needed data is the difficult part – but seems like KISSMetrics will give it to them. Seems like a straightforward DIY project.

  29. Love your advice for young entrepreneur Neil. As an entrepreneur myself, i love the advice that you offer on a regular basis. However, we need to be both passionate and try to perfect our efforts and goals.

  30. Neil, as another thought: We all by now heard that you have Crazy Egg, KISSMetrics etc. Why not actually treat us to a blog post about KISSMetrics, or about Crazy Egg, or whatever else you offer – and actually describe as a blog post what they do etc, with some examples of their use. Don’t know what other readers think, but personally I think this would be very interesting. Or alternatively, include them when you talk about other things – e.g., including information on doing CRO using KISSMetrics in your previous post about conversions would have been a nice addition. It seems like folks don’t necessarily need to spend $200K+ on CRO, they can just subscribe to KISSMetrics for $50 a month and accomplish many things on their own :)

  31. Hi Neil

    Great post as usual. I would also include GOALS into the equation here. I have owned and run a number of websites, some failed, some were lucrative. I generate lots of money now from my current website at http://www.horsespy.co.uk because I learnt from my mistakes and set a number of goals – i.e. I decided what I actually wanted to gain from it – decided on how I was going to convert traffic – decided on who I was targeting. By setting these goals (and sticking to them) I manage to get targeted traffic that are interested in my product. It doesn’t appeal to all so it’s interesting that some other guys here talk about FOCUS, which is absolutely right. Without focus and goals, it’s easy to digress and try and do too much without any substance, income generation or reputation building.

  32. …and I forgot to mention that I set goals for income that I want to generate and profit margin! Probably the most important ;-)

  33. Awesome…. Neil…

    I have started my own company and i think i had a great learning experience from this article.

  34. People are stuck between #1 and #5 and create a lot of confusion. It’s really important to know that to start a business you don’t need to wait for everything to fall in place. Just start a business.. Everything will fall in place. Your tips are extremely useful for every entrepreneur to take their business to heights.

  35. This is an excellent post and tips and I could not agree with you any more that make a decision and go with it the hurdles will come but you’ll get the solutions to that and certainly positive approach can give you lots of ideas.

  36. @Matt Ackerson, Ye you may not have written about it [focus] but the post image has shown it. though it may not be open to so many. great tips yous have.

  37. “The single most critical part of running a successful business is to hire the right people…and fire the wrong ones fast.”

    This is the most useful piece of information for everybody wanting to run a succesful business. I think it’s crucial to be fast in kicking out the rotten apples otherwise they will ruin the entire bunch pretty soon.

    The Mafia works this way, and they’re pretty good at their job, aren’t they?

  38. Very inspiring, Neil. Thank you.

    Another core belief I am going to add to this list on my print out is: “Don’t Always Think You’re Right”. It’s similar to the Ugly Baby belief but resonates with me as another because it’s more mindset related. Too often my thick minded ego gets in the way. I end up arguing my point and think I’m right, but that’s it… I only get to be right- not successful.

  39. Great post – I know this is kind of a “get off of your @#$ and do it” post, but the emphasis on building the right team cannot be underscored enough. I own multiple service businesses but continue to be challenged with finding general management with the broad skills needed to completely run them. It seems one can find the delivery management side easily enough – it’s the sales, marketing, and financial management skills that is hard to discover in the same candidate. Please keep up the thought provoking posts!

  40. Great one Neil. I have just started working as an entrepreneur, and this will help me a lot to get progress.

  41. Mind blowing. Great epic post and worth bookmarking. Neil, you’re always coming out with fresh and great contents and that is great. I wonder, how do you make up time to write and also attend to your ever demanding business?

    Sheyi

  42. Thanks for one more great post. We will try to cut down ugly baby syndrome instead of avoiding.

  43. KiDDAA Magazine :

    The first thing you say is dead on. Believe. You have to believe you have a good idea. As a entrepreneur you sometimes have to forget your first idea and run with the second and third. Got to take a chance and let go sometimes of the your baby.

  44. Nice and impressive article Neil. Correctly said that first impression is the last impression. Only one negative point can destroy all fame gain and it is hard to regain it back.

  45. Excellent post, can relate to most of them

  46. Brilliant article ! Thank you, Neil !

  47. Might want to rethink ‘ugly baby’ analogy. New parents are genetically predisposed to fall in love with the new baby IN SPITE of it being lucky

    Good post though!

  48. I’m guessing you’re a Seinfeld fan – great ugly baby episode (first glance makes Kramer shudder) and makes for a memorable analogy.

    So, here goes – growing industry, ripe for innovation – High competition and low search volume for main keywords, no Google adds. Probably hard to rank for except for long tail. Worth digging to find an underserved niche or an ugly baby?

  49. I believe one of the hardest things with being an entrepreneur is showing passion over perfection. Its too easy to get caught up with perfection, which then stops you from being fully productive.

  50. Is risk measured by the fact that people are quitting their day jobs and taking the leap of entrepreneurship – too much generalisation.

    Rather applaud the risk taking ability of entrepreneurs already bursting under EMIs / responsibilties; pushing through their day jobs and yet pulling a crazy show of that MVP you are talking of; reaching out to investors and doing every bit turning the table really.

    High time we get to the basics !

  51. Excellent stuff, It seems that it is really beneifical to read articles on your blog. :)

    Thank you and keep up the good work. :)

    Zane

  52. Neil, Thank you for this insight into being an entrepreneur, i would think that a crucial thing to be aware of when pursuing an entrepreneurship, would be balance. The balance between knowing your market and understanding your audience. There is so much grey area when it comes to understanding the wants of clients, that you need to establish. I also agree with Victor, hiring the right people for the job will create less of a stress on the business. Thank you again Neil!

  53. Hannah Hamilton :

    Hey great post here Neil. I like belief number 2, you always point out that to be a great entrepreneur you just don’t aim money or perfection rather make a product that is beneficial to the customers and for belief number 3, I have to agree with this. It’s about being open-minded to every suggestions and advices of other people as what the saying goes “two heads are better than one”. :)

  54. Interesting post. However I disagree with your interviewing/hiring practice.

    You don’t look at the resume? You don’t question their experience? Why not just toss a coin? Oh wait you take the coin toss one step further and give them an opportunity to “sell” you. The only thing you are measuring is their ability to communicate.

    Prisons are full of scammers, frauds, and (Madoff) money managers who had the ability to sell. Maybe it works for you and Steve Jobs but it doesn’t work for most of us.

    You obviously are gifted. I am just concerned that when “gifted” people offer this kind of advice that a million others go with their gut and first impression and are far less successful in hiring people.

    Otherwise I love your post.

    Wayne Melton

    • Good point Wayne, it is important to make sure the people you hire are qualified.

      I personally have learned that even with qualifications some people just don’t work out, and have found a way that works best for me when hiring. Also that is why I recommend firing fast if whomever you hired isn’t producing.

  55. Great ..great post !!!! You resumed really well all about being an entrepreneur.. it is much more than just be willing to take risks!

  56. Great post!

    Have passion not perfection is one I really like and am reminding myself about repeatedly even before reading your post!

  57. Belief # 4 is dead on. My industry is a saturated niche market and not having a hook to hang your hat can be disastrous when standing in front of a potential client. Developing a solution for a unique problem and then broadening its reach is key – having a “me too” product or service is a quick way to get the door slammed in your face.

    Great article!

  58. Thanks for this Neil. All very good stuff. #1 reminds me of the sign on the door of the owner of a company that I do some consulting at. It says “Answers in 1 minute or your next one is free”.

  59. Your advices are always welcome! thank you Neil for share your knownledge with us!

  60. Lol ugly baby syndrome! I suffer from that one a good amount I think… Sometimes I can’t just sit back and realize that one of my ideas isn’t going anywhere. But I still work at it anyways!

  61. Neil, I read this today and congratulate you on summarizing the key beliefs so well. I primarily look at how much passion a person has and is willing to keep learning and adapting, while hiring. That’s because there’s very few who have the skills which I need here and now :-)

    I completely buy your point on forgetting about competition trying to copy you. Unconsciously we’ve always tried to stay ahead by solving problems and relentlessly focusing on that. I can now relate better to letting others do what they’re best at (even if that’s copying!) and if we stick to innovation and solving real problems, they’ll still be busy copying hence always a step behind!

    Thanks again :-)

  62. thank you Neil for your nice article. This article really impress to do somthing new.

  63. Hey,

    I really like your belief num 7 i.e hire slow and fire fast.

    Thanks,
    Arlington Hardwood Floor Care

  64. Wow!! Wow!! Awesome…

    I really do understand this article, simply because i am an entrepreneur, has several business (online mainly), and few years ago, when i try to create my first product and then launch it, i fail a lot, and hard…

    But hey, i learn a lot from that experience. Now i’m older, and wiser, and braver.

    Now i have several business which is quite successful, some still fail sometimes, but now it only takes me 60 minutes to make decision, several days to create my product, so even if i still fail sometimes, some of my product will succeed beyond belief and that cover up all of my failure.

    Cheers!

  65. Hey neil
    “Show passion, not perfection”, i love this belief. definitely i am going to follow these advices in my business life, as i am a young entrepreneur. this post will be serve as a guideline for me .

    thank you so much.

  66. Great article. I believe the ugly baby syndrome is the most potent of all the problems. I remember when I used to try to form garage bands that I suffered from this. My bands were often terrible, but since we wrote the music, we thought we were good. One day I woke up and realized the sad truth that we were awful…too bad it took me so long to realize it. Thanks again!

  67. hi Neil,
    i agree with ur belief#2…passion is very much important than perfection…people always need a passionate man behind everey project…its simply awesome.
    thanks.

  68. Hello!,,,,,,,,,,,,,,,,,,

    Hi!,,,,Great tips here, perseverance and passion, especially passion, are the keys to being a successful entrepreneur .

    Thanks,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,..

  69. Hey Neil !
    These core believes actually show that those entrepreneur would be extraordinary, indeed. Its a kind of motivational post. Definitely these tips will help us all.Moreover, Your passion about a work can properly reflect your potential, i must say.
    Thanks.
    Brian

  70. Hello Neil !
    True core beliefs. I really liked that point “show passion not perfection”. Business is all about passion. Your passion can direct yours efforts towards a goal. It is enough to motivate you for your work.
    thanks.
    Silas

  71. Entrepreneurs truly have extraordinary qualities, and one of those things that I love is their strong conviction. They are ready to fight for their dreams and sacrifice many things just to achieve their ultimate goal.

  72. I like this article, because this article discusses the Entrepreneur.

    I am also now studying at entrepreneurs in Indonesia :)
    I would often visit this website …..

  73. Enterpreneur is my dream :)

  74. Talk about marketing, remember about customer is the king.

    Thank you :)

  75. I pay a quick visit every day a few websites and information sites to read articles, but this
    blog offers feature based articles.

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