What are the notions / pre-conceptions / ideas that Entrepreneurship has changed / dis-abused me of? (May 2022)

(Ramblings and Reflections one early morning – think this will keep getting updated)

  • I had a great idea – good for you, so did 30 different people in the world at the same time, its all about the execution and speed. (Blue Oceans don’t last long when sighted – H/T Blue Ocean Strategy)
  • Fair-weather friends – few stick around when you’re clawing your way up or back up.
  • Hesitation to ask for help – helps whittle the above list down even more – sometimes strangers step up more so just ask.
  • People will call back – disappearing acts are numerous – don’t tell me that you didn’t see the email / call / whatsapp when the phone’s in your hand 24/7 these days – I just saw you post on Insta.
  • Experienced people will solve issues – not necessary – attitude trumps skills more often than not.
  • People come together as a collective – Self-Interest is human nature, we’re working with the Prisoner’s Dilemma constantly.
  • Your good track record with people will give you some leverage – it doesn’t, self-interest trumps all as above.
  • You won’t have to deal with politics – Get four people together in any setting and you’ll have politics, its unavoidable, learn how to manage and deal with it.
  • Tolerance for basic conversations – be where people add value or you’re learning from them.
  • Tolerance for pompous idiots – no one cares about your past glories and deals and whom you know – don’t call me for a coffee again.
  • You can do it alone – You can’t! Find mentors or a support network, even if its just listening to some great podcasts (H/T @GuyRaz, Tim Ferriss, Reid Hoffman ).
  • You can do everything – No you can’t, delegate or die, live with imperfect but you can’t do it all.
  • Advisors don’t add value – They can, but only the right ones and those are hard to find.
  • Teams just come together – they don’t, it takes a lot of hard work and investment.
  • Not many can articulate the “Why” – If you can (not easy and harder to communicate), the what and how do become easier, well relatively. (H/T – Simon Sinek).
  • “No One is Irreplaceable. Though Some are Hard to Replace.” (Anonymous) – Keep the right people with you when you find them, they’re worth their weight in gold.
  • The grass is greener on the other side – The salaried think the entrepreneurs have got it made, the entrepreneurs envy the steady pay cheque in tough times – Its just human nature.
  • Intelligence will carry you through – Grades were good in school, Curiosity and Hard Work in real life.
  • The infallibility of your previous education and knowledge – learn new things, adapt or die.
  • Productivity happens – No it doesn’t – Habits and Focus, again easier said than done.
  • This project / business plan will be delivered on time and on budget – Hahaha!
  • Fund-Raising is easy – For some (right place, right time, right alignment, right network), otherwise its a grind for most – keeping the “every no gets me to a yes” mindset is tough but important.
  • Jumping from failure to failure is easy – the Silicon Valley mantra – It’s really not (lost capital, time, effort), but persistence and resilience is the only thing real in this world if you want to get somewhere.
  • “If you can meet with triumph and disaster, And treat those two impostors just the same;” (If by Rudyard Kipling) – just read the whole poem.
  • Mental Health is for wimps – IT MATTERS, alongwith your physical health.
  • Entitlement vs Gratitude – I deserve what I’m getting vs. I’m thankful for what I have and what I may get.
  • Life is fair – Not really, but should have known that before from banking days anyways, so just smile and be stoic about it!
  • True value is objective and measurable – It’s not, its what the market and perception pays for it – as many Tulips and False Diamonds out there as anything else.
  • There is a destination – No, its just the journey! (Philosophy 101).

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