Archived post. Originally published 10.8.2010.
Today is my last day of mentoring at Mass Challenge, the global start-up competition and accelerator in Boston, MA.
Overall, it's been a stellar experience. I have been nothing but impressed with the caliber of the entrepreneurs that I've met during my time, and have really, truly enjoyed working through their questions and challenges with them. I've met with a wide range of companies, all of whom have one thing in common: they are passionate, they are dedicated, and they put our work ethic to shame.
During my time, I worked through questions that ranged from product branding to SEO, nurturing campaigns, and more. I think I've even helped a few companies, but that remains to be seen. I'm pretty sure I didn't tank any, which I'll consider a success for now.
While the topics of discussions have been varied, there have been a few key pieces of advice that I've given time and time again to our budding entrepreneurs, including:
To the patient and driven crew at Mass Challenge, I say thank you - thank you for letting me in, thanks for allowing me to share my thoughts with your teams, and best of all, thanks for creating this amazing environment in the first place.
Today is my last day of mentoring at Mass Challenge, the global start-up competition and accelerator in Boston, MA.
Overall, it's been a stellar experience. I have been nothing but impressed with the caliber of the entrepreneurs that I've met during my time, and have really, truly enjoyed working through their questions and challenges with them. I've met with a wide range of companies, all of whom have one thing in common: they are passionate, they are dedicated, and they put our work ethic to shame.
During my time, I worked through questions that ranged from product branding to SEO, nurturing campaigns, and more. I think I've even helped a few companies, but that remains to be seen. I'm pretty sure I didn't tank any, which I'll consider a success for now.
While the topics of discussions have been varied, there have been a few key pieces of advice that I've given time and time again to our budding entrepreneurs, including:
- Be who you are, not what you think you have to be.
The single greatest thing that an entrepreneur carries with them is themselves. It is your passion and your dedication to your vision that will carry your idea forward. Of course, take advice and guidance along the way, but do not lose yourself or your passion in the fight to make your idea real. - Be frugal, but don't be cheap.
Entrepreneurship means living within your means for awhile. Sometimes it's longer than expected, but once you hit profitability, the rewards are ten-fold. Be frugal and effective with your budget, but don't be cheap. Spend your money wisely on the problems that are preventing growth, but do not spend money on the problems that you don't have yet. - Focus, focus, focus.
You cannot do everything well all of the time, and you cannot be everything to everyone. Take it from a working mother - it's impossible. Focus your energy on doing only a handful of things really well, and let the market or other people lead in other areas. What will result is a focused leader on top of their game. - If you can't say it simply, don't say it at all.
If you cannot concisely say who you are and how you help people, go back to your desk, sit down, and try again. There is no room, time, or patience in today's marketplace for chunky, vague language and communications. - There is a life beyond these walls
There will always be fires to put out, always be angry emails to answer, always be emergencies and drills, and always be competitions that suck away your time, resources, and energy. This is the drumbeat of a start-up. It's frantic, it has no rhythm, but over time, it will steady.
It's your job as an entrepreneur to steady that drum. It is up to you to see beyond the immediate and into the long-term. No single competition, activity, or project will make or break your company. Companies decay long before they break through a series of combined actions and bad decisions. If you can't see a life beyond one project or competition, get out now.
To the patient and driven crew at Mass Challenge, I say thank you - thank you for letting me in, thanks for allowing me to share my thoughts with your teams, and best of all, thanks for creating this amazing environment in the first place.
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