Entrepreneurship Tips — Co-Founder

What are the most common starting mistakes made by the founders?

Posted by Robert Norton on

What are the most common starting mistakes made by the founders?

Prepare for years in advance by study and experience in management, leadership and smaller companies. Read 2–4 books per month. Always be learning. Now, you can build a tiny house alone, but building a significant company requires a team without about 20 different skills that no one person possesses. Many think they can build a skyscraper alone, even without capital! Dumb. A formula for disaster and why 85% of new companies fail. It takes tremendous commitment and perseverance and is always a rollercoaster ride. Almost never a straight, predictable, linear process. Here are some great educational sources I have created...

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Should I join a company as a Founder?

Posted by Robert Norton on

Should I join a company as a Founder?

If you have to ask this question, you are likely not passionate enough or ready in other ways to do this. The commitment to any startup is likely five or more years. And long working hours that can easily be sixty-to-eighty-hour weeks at times.  As a result, you need to know for certain you would both enjoy the work and are qualified to do the job offered. You also need to do your due diligence to understand the company’s team, finances and chances of success. About 85% of startups will fail. Just a fact. Asking about a specific company is...

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When is the right time to get adviser/board of directors for a startup?

Posted by Robert Norton on

When is the right time to get adviser/board of directors for a startup?

Firstly, these are two very different things. A BOA is usually a domain expert while a BOD member may bring skills like finance, sales, operation, scaling, marketing or other expertise. Too many boards are dominated by investors who only know finance. The right time to start is yesterday. Usually as soon as you are clear on the mission of the company, which allows you to build out the skills you need on your team. It takes time and patience to develop a BOA member. Few want any formal connection until some value has been built, as the risk is so...

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Do you know any platform where people can study the skills to run their own companies?

Posted by Robert Norton on

Do you know any platform where people can study the skills to run their own companies?

Yes, I personally have created two platforms with about 40 courses total for this purpose, and a third set of courses for executive teams preparing to scale a company. There are at least 30 skills an Entrepreneur/CEO should learn before founding a company, not that they can be expert at all or even most, but all these skills will be needed on a team. We have trained thousands of CEOs from over 40 countries at The CEO Boot Camp since the first one in 2004. This program is for aspiring and active entrepreneurs to learn what they need to become...

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What are the benefits of having a business mentor as an entrepreneur?

Posted by Robert Norton on

What are the benefits of having a business mentor as an entrepreneur?

There are too many to list individually, but most come from having someone with experience. People often confuse smart with experienced and think they can do anything new well. Science and logic says this is not possible with anything complex. Few things are as complex as entrepreneurship. Hardly anyone would read a book on flying and hop in a plane alone to fly it. Or try to climb Mount Everest alone. But everyone thinks they can build a new business for some strange reason. As a result, we have an 85% failure rate of new businesses. Ones with coaches and...

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