Important Lessons that Entrepreneurs Can Get from the Silicon Valley
To start with we learn that we should never be for a sellout. Being that you are not able to predict your future it is better if you don’t rely on selling out your idea. Assuming that you are a software engineer with many offers in place on your skill.
One buyer would wish to but the idea for a given amount while the other buyer would like to give the engineer start-up amount of money. At that point, you may not see what is right as every deal will seem lucrative for you. In the end, the poor software engineer decides to forgo one buyer not knowing what will happen with the deal. This is some of the things that can make you poor if you don’t know how to go about it.
Another lesson is that you should do foundational work before starting your business. Before you could invest your ideas, products and services it is important that you do foundational work. Some of the thing that you need to do or have are registration certificates, copyrights and many more. Also, you should also plan for several AdWords, campaigns ahead and include all this in your foundation plan. As a result, you will be in a position to win the interests of your backers and many other investors as well. Entrepreneurship is not as simple as some people may mistake it for fishing where you will just cast the net in the water and wait for fish to catch it.
You should also not take entrepreneurship as the school. It is important that you get out of your comfort zone and work harder. By doing this you will fall into many misfortunes like unable to support your business, pay your employees, unable to cash your startup check since you never registered with IRS and many other things.
Another thing that this story teaches us about entrepreneurs is that they should not give away their sauce. One thing that you should do as an entrepreneur is to steal people’s ideas but make sure yours are far from reach. This is because your secret can help someone to succeed as you fail on the other end. Your secrets and moves should always be confidential, and you should not trust anyone with it. They always say that the more eyes on it, the more successful it will be. How does it feel when you see someone succeeding with your idea? Painful I guess.
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