What it takes to be an Entrepreneur

From Paul Allen’s wonderful blog…

Here’s some advice from entrepreneur Joe Ollivier, who has helped start or fund 27 companies in the past three decades. He is a member of the Utah Angels and runs First Capital Development in Provo, Utah. Joe explains what it takes to be an entrepreneur.

It’s a great list. I’ve printed it out and will keep it close. A few highlights are:

  • It has to be a business that gives you an emotional high.
  • Avoid any business that is labor or inventory intensive.
  • Find a lifelong mentor as soon as possible. Have him continually play devil’s advocate.
  • Have the attitude that everything that happens to you in your life is your own personal responsibility; you are never a victim.
  • Remember that you will learn much more from your mistakes and failures than your successes.
  • Expect to become wealthy – do a financial statement on yourself each quarter.

{ 10 comments… read them below or add one }

1 Anonymous May 22, 2008 at 11:18 pm

Well done! Regards, great site.

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2 Anonymous May 23, 2008 at 4:18 am

Well done! Regards, great site.

Reply

3 Anonymous May 5, 2008 at 8:43 pm

love the stie

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4 Anonymous May 6, 2008 at 1:43 am

love the stie

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5 Anonymous January 7, 2007 at 7:48 pm

I am really excited. Your web site is helpful. Well done. Best regards! scooters

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6 Anonymous January 4, 2007 at 4:00 am

Cool website! It very impressive. Very nicely done. Best regards! scooters

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7 Anonymous April 21, 2004 at 5:04 pm

“Avoid any business that is labor or inventory intensive. “

Why?
——-

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8 Anonymous April 21, 2004 at 10:04 pm

“Avoid any business that is labor or inventory intensive. “
Why?——-

Reply

9 Anonymous April 13, 2004 at 8:04 pm

Great list. I just read “Mentored by a Millionaire” and some of the items on this list
triggered that book in my mind. I think you would enjoy it.

I would add that almost anyone in front of you can be used as a mentor or teacher.
I notice all feedback, good and bad—feedback includes other’s reactions noting it
may be filtered through their own projections. I also notice my reactions to other people and situations.

So I use other people as a mirror to look for blind spots, and find my strengths and
weaknesses. I agree about failure (as long as you learn from failure) and I wrote about
how many successful companies (and individuals) have had failure in their past in a post
from a talk given by managing director at Sutter Hill Ventures – http://evelynrodriguez.typepad.com/crossroads_dispatches/2004/04/bill_younger_ma.html

Reply

10 Anonymous April 14, 2004 at 1:04 am

Great list. I just read “Mentored by a Millionaire” and some of the items on this list
triggered that book in my mind. I think you would enjoy it.
I would add that almost anyone in front of you can be used as a mentor or teacher.
I notice all feedback, good and bad—feedback includes other’s reactions noting it
may be filtered through their own projections. I also notice my reactions to other people and situations.
So I use other people as a mirror to look for blind spots, and find my strengths and
weaknesses. I agree about failure (as long as you learn from failure) and I wrote about
how many successful companies (and individuals) have had failure in their past in a post
from a talk given by managing director at Sutter Hill Ventures – http://evelynrodriguez.typepad.com/crossroads_dispatches/2004/04/bill_younger_ma.html

Reply

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