Google co-founder Larry Page provides several tips for entrepreneurs.
Below these follows a short 4 minute video in which Larry explains his five tips in a bit more detail.
Tip 1: Don’t Settle
Very important to pick the right people to be involved with your startup. Take your time, and get the right people – great people who are compatible.
Tip 2: Be a Real Expert
Know as much about your product or service as you can before you begin building your business. Be an expert, take the time to learn.
Tip 3: Consider Your Goals – And Set Some!
First, have a healthy disregard for the impossible.
Then set stretch goals that are going to be very hard to achieve, but not outlandish. Be specific in what you want to accomplish, and don’t be afraid of setting very aggressive goals.
Lastly, ensure you are measuring your progress towards your goals. You can never measure too much.
Tip 4: Don’t Be Afraid to Solve Hard Problems
There is a lot of leverage and bang for your buck in solving a hard problem with your business. What’s nice is the problem may be hard for your customer, but easy for you to solve. Go after those hard problems and fix them and you will be rewarded.
Tip 5: Don’t Jump on a VC Bandwagon
Don’t just start a company because it is popular or in vogue at the moment. A great business idea will be the one that gets the funding. Larry mentions that they rarely fund a deal, possibly as few as 1/year. So there are a lot of ideas chasing limited money. Only the best will get the VC attention.
Running Time: 4:31
Source: http://edcorner.stanford.edu/authorMaterialInfo.html?mid=1076
Have your own tips for entrepreneurs? I'd love to hear them in the comments section below
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Photo Credit: Liquid Lucidity
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{ 17 comments… read them below or add one }
Here is one. Believe in what you do!
As simple as it sounds, it means everything, – or nothing.
Your idea has to meet you in the real word, no matter what shape or form. Good quick reading! Thumbs up!
Spend your own money whenever possible. This will make you be smarter and make harder decisions early on that will help your business make it through tough times, being less leveraged with other peoples cash!
You share wonderful things . God bless you!
How about “Get the Word out”. You believe in what you do and will eventually want people to invest, buy or talk to others about you/your company.
I think entrepreneurs should not be afraid of trying. If you are unhappy with the current status quo and feel like changing it, then change it!
Thanks for sharing the video, Matt. Nice one.
Wow, Matt, this is really good stuff!
I grew up in a house with entrepreneurial parents, so I guess it rubbed off on me!
*smiles*
Michele
thats a great set of tips for entrepreneurs. I know little about larry page besides that he’s co owner of google.
@Luke
I agree, you have to believe in what you do, that you’re on the right path, in order to get yourself through the lean times when you are just starting up. And there will be lean times.
Matt
@andy
I’ve heard people say the worst thing you can have when starting a biz is too much money. It makes you sloppy, and you won’t analyze each decision as if it could be your last.
Matt
@LadyWSense
Too kind – thank you for taking the time to read what I put up here.
Matt
@Will
I think this is a good one, and sometimes hard for new businesses to do. They get shy about getting the word out, and second guess themselves. You just have to get out there and let people know about how great your product/service is.
Matt
@Wayne Liew
Agreed. And that’s one of the great things about being a small business, you are nimble enough to change directions quickly when you think something isn’t working.
Matt
@Michele
You’re lucky if you had good role models as parents. You’ve seen them do what it takes to succeed, so all you needed to do was follow their lead, right?
Matt
@Josten
Yeah, really I didn’t know too much either, and hadn’t heard him speak before, so that’s why the video caught my eye.
Matt
Right. (I like to call it “blessed”, though.)
*smiles*
Michele
It has taken too long to filter through the muck and finally find such resources as yours. Your RSS on my list now. Thank you for this and other posts.
Mike
@Michael
Thanks for the kind words. Glad you are finding the content here useful, stay in touch.
Matt