How to be a good entrepreneur

A good entrepreneur should have firm beliefs and interesting ideas. In Episode 1 How Not to Pitch a Billionaire, we learn that Chris Sacca is known as the world’s most successful startup angel investor. Chris chooses to invest in the product based on the entrepreneur’s beliefs and ideas. Alex Blumberg was a man who was seeking investment. Alex said he needed a lot of money, which wasn’t much money for Chris, so Chris didn’t care, but he focused on the impact of the product on him and its role in the world. But I can’t really agree with Chris. He’s a rich man. He doesn’t care how much money he has, but for those who need to invest, it may be more important to consider the benefits of products than their influence on the world. Chris is not trying to make money. He wants to find a product like Twitter that can affect people’s life.

In Episode 2, Alex mentions that many famous products have changed a lot from their original product concept. Groupon started as a social activism site, and Flickr was originally an online game. Groupon, Flickr and Twitter all went through several transformations before they became successful products.

As a developer, it’s important to listen to other people’s suggestions. Integrating these suggestions together can create better products, even if they have different initial concepts. Entrepreneurs learn to respect and listen carefully to other people’s suggestions. It is easy to win the respect and trust of others.

As a founder, giving up most of his rights is difficult and painful. In Episode 3, Alex did not agree with the 50/50 plans at the beginning, he only wanted to pay ten percent to his partner. After several unsuccessful conversations, Alex accepted a 40/60 plan. For entrepreneurs, this is a reality that must be accepted. We need a good partner and we will pay a lot for it. Another point is about respect. Only by respecting each other can the two partners work together. In the episode, Alex also mentioned that they respect each other very much. Even though they differ greatly in the percentage distribution, they can finally rationally identify with each other and sign contracts.

A harmonious and friendly interpersonal relationship is beneficial to the work, life, and study of entrepreneurs. On the contrary, the disharmonious, tense, negative and hostile interpersonal relationship is a bad interpersonal relationship, which is harmful to the work, life, and study of entrepreneurs.

When a person succeeds, how to balance the allocation of time is a difficult task. This is the story in Episode 4. Family time and working time are the same as business risk and business success, they all exist at the same time. For most people, being busy at work is the norm. Work is just a part of life. The purpose of better work is to bring a higher quality of life enjoyment and happiness to the family. When work occupies a lot of time, it will cause family members ‘emotional anxiety, and harm to the family is immeasurable. We should learn to balance the distribution of family and work time.

One thought on “How to be a good entrepreneur

  1. It was interesting to hear how Gimlet was created in “StartUp.” I could imagine that it’s difficult to give up a large share of your startup, and I liked listening to Blumberg’s experience in dealing with this.

    I also agree that it’s very important to listen to other people’s suggestions and to integrate ideas together to create a better result! Just like what I’ve experienced in our groups so far, teamwork is important!


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