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23 Things Every Entrepreneur Must Know – Review

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Although I’ve only had one 9-5, the thought of returning to one after 13 months of being my own boss literally gives me anxiety. If we’re being honest, one day it even made me cry and I actually loved the job that I had. I figured, if I want to be successful from my own ideas that damn bad, I need to be a student at all times. As a new entrepreneur, I’ve been in student mode for a little over a year now; studying, talking to, getting advice from, and researching entrepreneurship and other entrepreneurs. I literally google my goals and read everything there is to know about them because I always thought that’s what successful people did when they realized how bad they wanted to be successful. At least that’s what they told me. During one of my class-in-session moments, I came across Paul Brown’s piece on Forbes entitled, “23 Things Every Entrepreneur Must Know.” I read it because 1) I wanted to know what 23 things I must know as an entrepreneur and 2) I wanted to know how much of it I already did/didn’t know (was I on the right track or was I way left?) Good news? I’m on the right track.

According to Paul, here’s what I and my fellow entrepreneurs must know about entrepreneurship:

1. The best way to predict the future is to create it. Figure out what people want and make it a reality.

2. Decide where you want to spend your time. Whatever you focus on is what will grow, whether you want it to or not.

3. If you want to be a successful entrepreneur, there is no such thing as a work-life balance. There’s the entrepreneur who just makes ends meet then there’s the one who’s living the life he/she dreamed of. If you want to be the latter, your work must outweigh your personal life.

4. Great entrepreneurs solve market needs. Ideas are great but make sure your idea is something that the people need.

5. Without desire, nothing happens. What good are finances and marketing skills if you don’t have a real desire to bring your idea into existence?

6. Action trumps everything. Unless you act on those ideas, they’ll remain just that – an idea.

7. Take small, smart steps towards your goals. Remember I said I was on the right track? This is where I made a left when I was supposed to make a right. I always thought being an entrepreneur was all about taking risks. According to Paul, that’s not correct. Entrepreneurs take small, calculated steps; “the bigger the risk, the bigger the reward” does not apply in entrepreneurship.

8. If you want to build a successful company, give up control. Teamwork makes the dream work.

9. Forget about your weaknesses. Be the best you can be by focusing on your strengths.

10. Turn every obstacle into an asset. Use the problems that you run into to your advantage and advantage over your competition.

What are some things you’ve learned as an entrepreneur?

To read Paul’s full list on Forbes, click here!

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