Seven Dilemmas Every First-Time Entrepreneur Must overcome

“Any meaningful AND significant pursuit will involve a huge learning curve.

Entrepreneurship, however, is a largely public sport. To gain real traction, you have to touch several stakeholders in public. So, you are “exposed” from the word “Go.”

1. The lure to get back to past certainty vs the grit to persist under uncertainty

2. The choice to stretch and do it alone vs the choice get good help

Your personal growth and the growth of your ecosystem are important.

3. The question of sharing

“Seal your lips” attitude and “throw the kitchen sink” attitude.

Sharing about your startup always comes down to:

What, with whom, when, how. Why is the most important…

4. You vs Them

When you are building your first startup, you are always hungry for any kind of resources and every connection looks like a possible piece of your startup puzzle.

Reciprocation is a powerful thing and the fastest way to activate that power is to proactively reach out and help others with their quests.

5. Crafting a great story vs making something that is worthy of a great story

Without blood and sweat, you can’t create something that is worth talking about.

Balancing superb execution with flawless storytelling is a must to make something meaningful happen.

6. Going for a home run vs focusing on a series of singles and doubles

There are two schools of thought: “home run” – “backing” from serious people and the other is “singles and doubles”

There are advantages and disadvantages of both. Your goal should be able to paint a grand vision while having a “staircase to heaven” execution approach. People should be able to see the vision at the same time believe that you have a plausible execution plan.

Remember: If people don’t believe you, they rarely tell you about their disbelief. Their supporting actions after the meeting are a good indicator of how much they believe in you and your plan.

7. The signal vs the noise

Your inability to distinguish between signal and noise will cost you way more than consuming that information.

https://fi.co/insight/seven-dilemmas-every-first-time-entrepreneur-must-overcome

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