The Path to Successful Entrepreneurship
The Path to Successful Entrepreneurship
The road to becoming a successful entrepreneur is often long and tedious, full of trial and error and setbacks. However, for those who are able to persevere and overcome those setbacks, the rewards can be significant. The world is full of people who dream of becoming an entrepreneur. Some of them want to start a business, others want to create a groundbreaking new product, or solve an existing problem with a disruptive solution. However, the large majority of people who want to start a company or become an entrepreneur either don’t ever get started or fail miserably. So how does one go about becoming a successful entrepreneur and what does it take to start a successful company?
Choose Something That Matters to You
Recently, Facebook founder and CEO, Mark Zuckerberg shared some of his insights about starting a company in an interview with Y Combinator. Mark started his own company when he was only 19-years-old, so he knows a thing or two about getting started early in life. However, he has some words of advice for any young person who wants to do something to impact the world. “I always think that the most important thing that entrepreneurs should do is pick something they care about, work on it, but don’t actually commit to turning it into a company until it’s working.” In reality, he said, a large percentage of the best companies that have been built have followed this pattern.
Motivated by a Desire to Make a Difference
In other words, the best companies often come from people who are passionate about changing something but not necessarily from people who decided upfront that they wanted to start a company, without really having a product or service in mind. In Facebook’s case, for example, Mark says he didn’t really set out to start a company and he wasn’t really sure of the moment it became a company. “I think it became a formal Delaware company when Peter Thiel invested about six months in.” Despite its an initial promise, he said his plan was to actually go back to school and continue his education while working on Facebook on the side.
A Company Born Out of Necessity
He and his partner just got busier all the time but they still didn’t drop of school. However, as the workload increased it became more evident that they couldn’t do both at the same time. Eventually, they told Harvard they were going to take a semester off. After that, they took another semester off and then it turned into a year off. They ended up not going back. So for Mark, even though he wanted to keep working on Facebook and taking it to loftier places, he didn’t start out dreaming of building a company. It was only after he and his partner, and eventually their investors, developed the groundwork of what would become the largest social media platform in the world, that they realized it was time to start a company.
We hope you found this article about “The Path to Successful Entrepreneurship” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Chris Maxson, owner of Acucraft Fireplace Systems and Managing Partner, Maxson family’s business ventures discusses igniting innovation in the fireplace industry with Alan Olsen. Below are some of the key aspects of Chris Maxson’s influence on the fireplace industry and his unique approach with Acucraft Fireplace Systems. They indicate the rich legacy and innovation themes discussed.…
The Best Accounting Jokes for Financial Experts in 8 Laughs & Ledgers: Welcome to the lighter side of accounting! Yes, you read that right. While debits, credits, and balance sheets are serious business, who says accountants can’t have a sense of humor? Today, we’re diving into the funniest accounting jokes that even your auditor can’t…
Today, American Dreams host, Alan Olsen, sits down with Carson Holmquist, Co-Founder, Stream Logistics to discuss innovation and navigating high stakes. Transcript: Alan Olsen: Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Carson, Holmquist. Carson. Welcome to today’s show. Carson Holmquist: Thanks, Alan. So, so, so grateful to be…
Today, American Dreams host, Alan Olsen, sits down with Alexis Levi, a true pioneer in the sports and entertainment industry. As the first African American woman to become the owner and general manager of a men’s professional basketball team, Alexis shares her remarkable journey from being a competitive ice skater to entering the sports world.…