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Lessons Learned After Teaching 88 Struggling Entrepreneurs For 6 Months

49 points by uladzislau 14y ago

Lasher 14y ago
I loved this article. This paragraph in particular really struck home for me: "Entrepreneurs get stuck trying to find something they are passionate about. Picking a business you are passionate about is not as important as being passionate about the process of building a business. I’m not passionate about any particular business industry, but I am passionate about finding problems and solving them. Make your passion solving problems and adding value – then you can go almost anywhere and do anything. And most importantly, you can get started. Once you get started, you start to see dozens of new opportunities open up that never existed when you stood still." Waited far too long for 'just the right idea' to present itself...
- deleted 14y ago
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deleted 14y ago
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taroth 14y ago
>"Entrepreneurs are lonely, but they thrive in a community with others. With a private chat room always on and 15 to 20 members sharing their setbacks, failures, and successes, a thriving connection was created. Live chat was wonderful for creating connections." Truth, and chat is a interesting idea. Is there a HN IRC that I am not aware of?
- carbocation 14y ago
  Unofficially, #startups on freenode
charlieflowers 14y ago
>> "You can start a business without an idea. Just go into a market like “Veterinarians” for example and Find The Pain. In that pain, you will come up with a product idea." Is that really true? It is very hopeful, and I'd like it to be true. Is it?
- jason_tko 14y ago
  Is it true that you can start a business by understanding and solving pain points? Yes of course it is. People who are going through this pain and who are aware of this pain will also likely be motivated to talk with you and articulate their issues.
  - charlieflowers 14y ago
    Well, yes, on the surface it is true, and clearly we can find real examples where it has worked out. But, still, the statement seems to be an over-simplification in some ways. That has been bothering me in the back of my mind for a few weeks, until Paul Graham wrote (just published) this: "A startup has to make something it can deliver to a large market, and ideas of that type are so valuable that all the obvious ones are already taken." http://paulgraham.com/growth.html http://paulgraham.com/growth.html A "startup" idea in particular has to GROW! And the ideas that have the potential to lead to that kind of growth have mostly been exploited already. Of course, all the time, new things become possible, which is where opportunity for new startups come from. So, perhaps you can build a "business" by just picking an industry and understanding its pain, but maybe building a "startup" is not so simple (except for the workings of luck, which of course cannot be predicted).
- andrewljohnson 14y ago
  Of course it's true. Here's a simple proof. 1) You can start a business with a bad idea, and through customer engagement, find the right idea. 2) Since #1 is empirically true, then it must also be true that you can start with no product idea at all, and get to a good one. You simply start with no product, make a bad (or just random) product, and we're back to #1. Starting with no idea is the same (or maybe better) than starting with a bad idea. Picking an industry is good enough. I'm not even sure why people are wedded to the idea of picking a product at all - picking an activity, or industry, or group of people is a fine seed for a business. My business has very little to do with where we started 4 years ago, though we sort of started with an idea. Sort of.
WiseWeasel 14y ago
These suggestions seem very tailored to the B2B software sector, rather than consumer web startups. Getting paying customers before building a product is not always a viable strategy, depending on what you're trying to build.
- dreawf 14y ago
  I think the main point of this article is that to be a good entrepreneur we have to solve real world's problem with our product so people will use it. Our type of business doesn't really matter here. We can build a successful web startup if our web actually solving real world's problem. E.g. people use google and wikipedia because it solve their problem.

49 points by uladzislau 14y ago

I loved this article. This paragraph in particular really struck home for me: "Entrepreneurs get stuck trying to find something they are passionate about. Picking a business you are passionate about is not as important as being passionate about the process of building a business. I’m not passionate about any particular business industry, but I am passionate about finding problems and solving them. Make your passion solving problems and adding value – then you can go almost anywhere and do anything. And most importantly, you can get started. Once you get started, you start to see dozens of new opportunities open up that never existed when you stood still." Waited far too long for 'just the right idea' to present itself...

deleted 14y ago
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deleted 14y ago

[deleted]

taroth 14y ago

>"Entrepreneurs are lonely, but they thrive in a community with others. With a private chat room always on and 15 to 20 members sharing their setbacks, failures, and successes, a thriving connection was created. Live chat was wonderful for creating connections." Truth, and chat is a interesting idea. Is there a HN IRC that I am not aware of?

carbocation 14y ago
Unofficially, #startups on freenode

charlieflowers 14y ago

>> "You can start a business without an idea. Just go into a market like “Veterinarians” for example and Find The Pain. In that pain, you will come up with a product idea." Is that really true? It is very hopeful, and I'd like it to be true. Is it?

jason_tko 14y ago
Is it true that you can start a business by understanding and solving pain points? Yes of course it is. People who are going through this pain and who are aware of this pain will also likely be motivated to talk with you and articulate their issues.
- charlieflowers 14y ago
  Well, yes, on the surface it is true, and clearly we can find real examples where it has worked out. But, still, the statement seems to be an over-simplification in some ways. That has been bothering me in the back of my mind for a few weeks, until Paul Graham wrote (just published) this: "A startup has to make something it can deliver to a large market, and ideas of that type are so valuable that all the obvious ones are already taken." http://paulgraham.com/growth.html http://paulgraham.com/growth.html A "startup" idea in particular has to GROW! And the ideas that have the potential to lead to that kind of growth have mostly been exploited already. Of course, all the time, new things become possible, which is where opportunity for new startups come from. So, perhaps you can build a "business" by just picking an industry and understanding its pain, but maybe building a "startup" is not so simple (except for the workings of luck, which of course cannot be predicted).
andrewljohnson 14y ago
Of course it's true. Here's a simple proof. 1) You can start a business with a bad idea, and through customer engagement, find the right idea. 2) Since #1 is empirically true, then it must also be true that you can start with no product idea at all, and get to a good one. You simply start with no product, make a bad (or just random) product, and we're back to #1. Starting with no idea is the same (or maybe better) than starting with a bad idea. Picking an industry is good enough. I'm not even sure why people are wedded to the idea of picking a product at all - picking an activity, or industry, or group of people is a fine seed for a business. My business has very little to do with where we started 4 years ago, though we sort of started with an idea. Sort of.

WiseWeasel 14y ago

These suggestions seem very tailored to the B2B software sector, rather than consumer web startups. Getting paying customers before building a product is not always a viable strategy, depending on what you're trying to build.

dreawf 14y ago
I think the main point of this article is that to be a good entrepreneur we have to solve real world's problem with our product so people will use it. Our type of business doesn't really matter here. We can build a successful web startup if our web actually solving real world's problem. E.g. people use google and wikipedia because it solve their problem.