There are alot of definitions to the role of Entrepreneurs, the meaning of Entrepreneurship and the Process in which one must undertake during his Entrepreneurial Pursuits. But nobody puts it clearer than Paul Graham, Founder of the Y-Combinator, a Start-Up Incubator which had produced many successful start-ups and entrepreneurs.
Commenting on his original article available at the article ‘What Start-Ups Are Really Like’ , the team behind Entrepreneurs.my found out that various young entrepreneurs whom we spoke to, regarded this piece of article as ‘The Best, the Most Relevant and Most Unveiling’ of all, explaining to us, about Entrepreneurship.
After reading the article, i found myself admitting that Entrepreneurship is not as Easy as It Seems, and that Partnerships are Evidently So Important to Decide on a Start-Up’s Success.
Also, many entrepreneurs preached about entrepreneurship commanding a sense of ‘Perseverance’ with which many have also accused as being an ‘Over-used’ word used by entrepreneurs describe their hardships. However, after reading this article, it is TRUE that entrepreneurs whom are successful did persevere through the hard times.
Check out this article below as we post a Sneak Peek on ‘What Start-Ups Are Really Like…’ by Paul Graham
“1. Be Careful with Cofounders
This was the surprise mentioned by the most founders. There were two types of responses: that you have to be careful who you pick as a cofounder, and that you have to work hard to maintain your relationship.
What people wished they’d paid more attention to when choosing cofounders was character and commitment, not ability. This was particularly true with startups that failed. The lesson: don’t pick cofounders who will flake.
Here’s a typical reponse:
You haven’t seen someone’s true colors unless you’ve worked with them on a startup.”
“3. It’s an Emotional Roller-coaster
This was another one lots of people were surprised about. The ups and downs were more extreme than they were prepared for.
In a startup, things seem great one moment and hopeless the next. And by next, I mean a couple hours later.
The emotional ups and downs were the biggest surprise for me. One day, we’d think of ourselves as the next Google and dream of buying islands; the next, we’d be pondering how to let our loved ones know of our utter failure; and on and on.”
“13. Expect the Worst with Deals
Deals fall through. That’s a constant of the startup world. Startups are powerless, and good startup ideas generally seem wrong. So everyone is nervous about closing deals with you, and you have no way to make them.
This is particularly true with investors:
In retrospect, it would have been much better if we had operated under the assumption that we would never get any additional outside investment. That would have focused us on finding revenue streams early.”
“17. The Value of Community
A surprising number of founders said what surprised them most about starting a startup was the value of community. Some meant the micro-community of YC founders:
The immense value of the peer group of YC companies, and facing similar obstacles at similar times.
which shouldn’t be that surprising, because that’s why it’s structured that way. Others were surprised at the value of the startup community in the larger sense.”
Credit to Aidan Chew for sharing this article with the community of Entrepreneurs.my
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