Almost a year ago I interviewed Phil on the Handshakin Video Series in San Francisco.
As I prepare to head out to SF to host Start SF’s Pitch Battle (think mini shark tank event), I revisited my interview with him and wanted to share one of the best things a mentor has ever told me.
When I asked him about what makes a successful entrepreneur he mentioned three things:
Management
Focus
Execution
I’d like to make this article about how you can improve in these three things, so I’m going to write very straightforward.
Management
Without a doubt, the people you involve in your startup, and your ability to manage them is one of the most important and challenging feats of entrepreneurship.
In the video below, Phil talks about how they backed a startup purely based on team.
[video:https://youtu.be/mZ9gycvz-Fc align:center autoplay:1]
Focus
I also asked Phil about focus. I remember I used to be impressed when someone ‘had 4 çompanies’ or ‘multiple streams of income.’ However, I think when you’re startup is one you’re trying to fundraise for, you’re not going to want to mess around multiple companies or ideas.
Figure out your business model, and if ideas/opportunities fit into your core business, pursue them, but if they don’t, forget it. To be clear, when I say ‘forget it,’ I mean say no and never think about it again. Don’t invest time in it at all.
Execution
If you’ve ready my blog before, you’ll know we’re no strangers to execution. My very first blog post in November 2014 was on execution v. planning.
Execution is the behavior that actually moves the needle in your startup. The needle is often times sales. Get your first customer ASAP and no matter how sloppy, and then you’ll learn how to improve from there. Quit waiting for the perfect launch, and quit talking about details you need to figure out first.
Click publish, make the phone call, collect credit card information and quit talking about what needs to happen first. Or quit talking about your plan and start doing it. Quit reading my freaking blog post and go and take action right now!!!
But, if you’re still reading, learn how our marketing services can help you with more exposure on Twitter or LinkedIn.
Originally posted at www.handshakin.com.
