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What About The Other 99% - The Real Definition of Grinding: Entrepreneurship
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Transcript of What About The Other 99% - The Real Definition of Grinding: Entrepreneurship
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What About The Other 99%?
The Real Definition of Grinding: Entrepreneurship
Joe Womack IIIFebruary.12.2011
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GRINDINGWORK HARD. MEASURE. LEARN.
(REPEAT)
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What Is An Entrepreneur?
“A person who forms an organization designed to deliver a (new) product or service under conditions of extreme uncertainty.” – Eric Ries
What Is Entrepreneurship?
• Change the world
• Build an organization of lasting value
• Make customers’ lives better
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My Story
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What Makes A Good Entrepreneur?
1. Tenacity2. Street Smarts3. Ability To Pivot4. Resiliency5. Inspiration6. Perspiration7. Willingness To Accept Risk8. Attention To Detail9. Competitiveness10. Decisiveness11. Experience12. Integrity
Adopted From Both Sides of The TableBy Mark Suster
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Tenacity
The most important attribute of an entrepreneur is never being willing to give up.
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Street Smarts
Getting out, understanding, and selling to customers is far more important than book
smarts or computer research.
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Ability To Pivot
The best entrepreneurs fine tune their product and their business
model until they find
a groove.
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Resiliency
Being an entrepreneur is cool … for those who haven’t done it. In reality it’s gritty, tough work
where you will be filled with self doubt. Entrepreneurs are survivors.
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Inspiration
Tenacity + street smarts is not enough without inspiration. You need to lead teams and convince others to move mountains when by all means they shouldn’t believe they can…
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Perspiration
There’s no “off button” on this guy…
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Risky
If you aren’t willing to take a shot by starting your company it says you aren’t confident enough in the idea or in yourself.
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Attention To Detail
If you’re going to lead a business you
need to be on top of all your details.
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Competitiveness
The best entrepreneurs hate losing. Whether in life or business they
play to win. It consumes them.
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Decisiveness
Entrepreneurs don’t “noodle,” they
“do.” Entrepreneurs are faced with a lot of
daily decisions – much of it minutiae. All of it
requiring decisions and action.
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Experience
Having experience and relationships gives you an unfair advantage. Better that you start
with this than from scratch.
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Integrity
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When someone tells you, "That's impossible" it should be translated as
"According to my very limited experience and narrow understanding of reality,
that's very unlikely." Don't take advice as absolutes - the time may have changed
since the times of the people giving advice. No one has figured it all out -
we're just talking monkeys.
- Paul Buchheit, Creator of Gmail