Take a look at how some of the self-made billionaires became billionaires. Hint: it does not look like a straight road to that one big idea.
If you’re a founder, chances are you’ll fail. So seriously consider the following 10 points of advice. You might save yourself a couple failures by doing so. Read the full article here.
10 Signs you are employee material:
- You have never tried a real job
- You have already failed at one or more startups
- You can’t design or code
- You are young and/or inexperienced
- You have no network
- Your big idea is unoriginal
- You get bored really quickly
- You have no net worth
- You don’t know what you want
- You are the primary breadwinner of a multi-person household
It is very likely that any entrepreneur reading this article will see her/himself in some of the stories discussed. From sleepless nights, to obsession, hypomania and suicidal thoughts, the article discusses some of the realities of building a business from scratch as well as some of the innate character traits that make entrepreneurs more vulnerable to mood swings.
What can entrepreneurs do to keep their lives from spiraling out of control?
- Make time for your loved ones. Don’t let your business squeeze out your connections with human beings.
- Limit your financial exposure. When it comes to assessing risk, entrepreneurs’ blind spots are often huge.
- Cardiovascular exercise, a healthful diet, and adequate sleep are very important
- Cultivate an identity apart from your company.
- Re-frame failure and loss. Life is a constant process of trial and error.
- Be open about your feelings–don’t mask your emotions.
Did you know that there is now a way to crowdfund yourself? Yes! there are now crowdfunding platforms that let investors back hopeful entrepreneurs who show potential, even if they don’t have a business idea yet.
Upstart was launched in November and utilizes an algorithm that draws on the academic and professional experience of aspiring entrepreneurs to predict their future earnings. Interested investors can then fund these entrepreneurs in exchange for a percentage of their income over the next decade. Sign up, fill out a profile highlighting your skills and accomplishments and see if you can find some backers.
It wasn’t that long ago when if interested in crowdfunding, you only had a handful of platforms to choose from. There were the 2 big ones: kickstarter and indiegogo and it almost seems like overnight the number of platforms has exploded. Inc magazine had recently a very interesting list and map of options depending on what you are trying to do: build a company, build an app, work on a science related project, etc.
I am sure by the time you read the full article, the list will already be obsolete, but it can give you a pretty good idea about the different options available. Read Inc Magazine’s article for the full list of 22 crowdfunding sites.