Successful Entrepreneurs Think More Effectively

This post describes the traits I have seen in the successful entrepreneurs I have known.  Thus, how successful entrepreneurs think more effectively.

Successful entrepreneurs think more effectively

  • They are very smart and routinely really think “outside the box”. They listen to other very smart people especially those who disagree. They learn from their successful competitors
  • They have excellent decision processes and make important decisions quickly
  • They are comfortable with their competence and confidence, prefer to hire very competent people
  • Do not lose their well-grounded attitude even when they suddenly become very wealthy
  • They make their own luck. They fail quickly and often; and learn from each failure
  • Challenges do not bother them. They ignore most of them and focus on the ones that are core to their success
  • They realize that success requires considerable effort. But, they try to only invest it where it creates leverage
  • They understand that building a startup is building a series of things that are only good enough for the next few months. As their startup become more successful they build things that will be good enough for increasingly longer numbers of months. They will usually sell out before getting to the point where real perfection in Fortune 500 type defined processes is required (although others may not understand that)
  • There have no defined work hours. Work is fun. They have fun (not necessarily work) almost all the time
  • They are not surprised by most likely events
  • They only might have started a businesses based on passion ( only 22% of founders were following a passion per WSJ )
  • Are committed to their current vision, regarding their vision they:
    • Are very curious about things that are core to their vision
    • Redefine what being focused means
    • Are very patient with those who can help further their vision in significant ways
    • Are masters of understanding their vision and related issues

Conclusion

Be smart. Be your own person. Fail quickly. Learn quickly

 

 

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