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What advice would you give to emerging entrepreneurs?

Know your purpose and seek the truth. You have to have a really clear vision of what you are trying to do and how you are trying to change the world. You have to be committed to always seeking the truth, which means you have to challenge fundamental assumptions, you have to listen to data, and you have to listen to the good people around you.


BHASKAR: The most important thing is to be persistent, because the first few years may not be what you want it to be. The product may not be what you want it to be. Just stay focused because there will be an evolution in your product. As long as you are able to finance the evolution, you will be OK. If you walk in thinking you are going to make a lot of money in the beginning, chances are you are in for a disappointment.

WELLS: Be open to evolution. Beyond your own doggedness, you've got to be open to listening and moving and adapting.

GONZALEZ: Keep your eye on the prize. As entrepreneurs, there are different shiny objects that distract us. My suggestion would be to focus. Don't get distracted by all the other things that are out there that you can probably do.

JOHNSON: Stay focused and push through adversity. The winners are those who persist through adversity, and you are going to have a lot more than the average person.

BORGHETTI: Be honest about what you are good at. Not everybody is good at everything. Be honest with yourself about what you can nail and the value you bring to the organization, but quickly shore up and build around you those who can supplement you and address some of your operational shortcomings or other characteristics that you know the business will need that you don't have.

CHASE: My initial thought was to build the right team around you. But you also need to build an advisory board outside. There's a lot of people willing to help. Surround yourself with great people that will give you good advice at the right time.

HOG UN: Don't overlook the things that keep you going and keep you and your team engaged, like culture and celebrating little wins. Recognize failures and fix them fast. Sometimes you are so gung ho you forget what's going to keep you sustained.

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Comment:What advice would you give to emerging entrepreneurs?
Author:Skonnard, Aaron
Publication:Utah Business
Date:Nov 1, 2011
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