[This is a weekly series that brings you raw, first-hand experiences from founders and investors in the trenches. Their story submissions are anonymous, allowing them to share openly without fear of retribution. Every Wednesday, we’ll run one new story chosen by Dana Severson, who operates StartupsAnonymous, a place for startups to share, ask questions, and answer them in story-length posts, all anonymously. You can share your own story here.]
I think with all the stuff we face I came down to my biggest beefs with the startup crowd and what I came to conclude as a bootstrapping entrepreneur.
1. No single person, group, VC, investor, organization, book or theory has the answer on how to build a successful company.
Otherwise, we would all be millionaires and would not have failed ventures.
2.) There is no overnight success.
They are only a success because you just heard about them last night. In reality you probably never knew about them but they were around a lot longer than you think.
3.) No business is the same not even your competitor.
No person is the same, no plant is the same, nothing on this planet is the same. Everything is unique and that small difference between you and your competitor may just be enough to get the upper-hand. The question really is: how dedicated are you to making it happen?
4.) You can’t teach Entrepreneurship:
Being an entrepreneur is about making mistakes and learning from them. No one can tell you how to do it. They can give you advice, can teach you theory but in reality it’s like being a kid all over again. No matter how many times your parents tell you not to touch the hot stove, it’s only when you put your hand on the hot metal that you will learn not to do it again.
5.) Adapting and adjusting is the key to success:
The biggest issue with failed ventures is not the idea, but how it was executed. Test the market, test the product and keep working on it and never stop improving it. And if you don’t believe me I think this guy is a credible source. “I have not failed 10,000 times. I have not failed once. I have succeeded in proving that those 10,000 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.” Thomas Edison
In the end:
Don’t take this as fact, just advice from a bootstrapping entrepreneur who wants to share his thoughts with others.