Success as an Entrepreneur: Why It’s Not About You(getrichslowly.org)
getrichslowly.org
Success as an Entrepreneur: Why It’s Not About You
http://www.getrichslowly.org/blog/2008/09/21/success-as-an-entrepreneur-why-it%E2%80%99s-not-about-you/
7 comments
I agree with Hamilton - and I hope that becoming older and having more experience and exposure doesn't take that mindset away from me. Doesn't look like it has for him.
This is a nice interview and left me feeling warm and fuzzy about being a more altruistic capitalist. But, I'm still wondering what exactly Hamilton's extended business plan was. "Selflessly Make Helpful Tool" + "Patience" still doesn't lead easily to finding investors, let alone getting rich.
Can anyone honestly say they're in the start up world simply to alturistically help other people? This article seems a bit twisted to me - yes I agree you make money by solving a business problem, or helping others make money, but if you don't ultimately make money yourself, surely that's considered failure! I know your investors would say so...
I guess your investors are content if you make money for them.
Yet more advice given from the narrow scope of one person's experience. The problem is, some of it is just wrong. Some people have succeeded despite (or perhaps because of) just being in it for the money.
I think whether or not you're in it for the money ultimately doesn't matter very much.
What matters is how much value you create -- and it so happens that you create the most REAL value when you focus on other people's problems and solve them.
Solve other people's problems, create value, get paid, and as a result, solve your own problems.
Being in it for the money means you have to be in it for other people, ultimately. Well, at least the good kind of value creation. You could also just sell subprime mortgages and make a bucket load of money too, but we know where that ends up...
What matters is how much value you create -- and it so happens that you create the most REAL value when you focus on other people's problems and solve them.
Solve other people's problems, create value, get paid, and as a result, solve your own problems.
Being in it for the money means you have to be in it for other people, ultimately. Well, at least the good kind of value creation. You could also just sell subprime mortgages and make a bucket load of money too, but we know where that ends up...
Actually I think the guy's correct in that it helps. I've seen this for sure in startups. I just think he's incorrect in that it's necessary, or that it should be a defining characteristic of an entrepreneur.