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Entrepreneurs have no formula for success

  • By Alan Knott-Craig
  • February 27, 2016


entrepreneur formula


There is no formula for success. Every successful entrepreneur did it in an original way.


But there is a formula for failure. All failed startups make the same mistakes.


Spend too much money. Hire the wrong staff. Find the wrong partners. Raise funds from the wrong shareholders. Lose focus. Over promise. Panic.


Your first step in a startup is to make sure you don’t fail. Memorise the big mistakes common to startups, and avoid them.


Once you’ve lowered the odds of making dumb mistakes and failing, then you can start thinking about making money.


There’s no checklist for making money.


Making money is about thinking the right way. You must think the right thoughts so you can behave in the right way. You must behave the right way so you can make money.


You must make money if you want to be a successful entrepreneur.


Use checklists to avoid failure. Think right to win.





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