The Two BEST Assets for Entrepreneurs
Be resourceful and train your resilience, these are the two most important assets you have for free, and still they are the hardest to get.- Pablo Santaeufemia, Huffington Post
This was Bridge for Billion’s CEO, Pablo Santaeufemia’s, answer when asked what his best tip for entrepreneurs was. Being an entrepreneur is difficult and there are many costs incurred by new entrepreneurs, but resourcefulness and resilience are two that you can develop yourself for free. It is these two qualities that give entrepreneurs the boost necessary to be successful in their ventures.
Resourcefulness requires entrepreneurs to be aware of all of the opportunities and resources available to them. They must be willing to harness these opportunities in order to move their idea forward. One way that entrepreneurs can be resourceful is through networking. They should be willing to use any contacts or connects that they have so that they can promote their business, and receive advice. Entrepreneurs should also be willing and able to identify underappreciated talent. While most companies wish to hire top employees with extensive experience in their field, this is not a realistic option for most startups. These kind of employees tend to have a large paycheck associated with them, which are usually unattainable for new companies with limited funds. There are however talented, passionate, and motivated young graduates who are in search of job opportunities. They can be overlooked by larger companies because of their lack of professional experience. However, they tend to be hard workers searching to prove themselves and willing to learn. Entrepreneurs can find motivated employees from these groups, who they can train and support to help develop the company.
Entrepreneurs can’t give up. They must stand up when they’re knocked down. Anyone who’s tried to start their own business will tell you it’s a rollercoaster ride. There will be days where it feels like your business is destined to fail, but a successful entrepreneur does not fall into despair when this happens. They push through and continue to work on their business relentlessly; improving it daily. Entrepreneurs will tell you that the commonly heard adage “anything that can go wrong, will go wrong” is especially apt at describing the life of a startup. Payments from clients will be late; your product won’t work when you’re trying to pitch it; customers won’t like your first version. The difference is that instead of giving up successful entrepreneurs use these setbacks as fuel to make their idea better. They wake up the next day ready to fix their design, talk to more customers, and re-pitch their ideas no matter what happened the next day.
Being an entrepreneur can be very difficult, and it can also feel isolating especially at the beginning. However, with their resilience and resourcefulness, passionate and dedicated entrepreneurs can overcome the barriers that come with starting a business. These are two useful assets that any entrepreneur can tap into in order to improve their business.
Adding a strong business plan and a mentor to your resilience and resourcefulness can help you take your business to the next level. TO learn more about us and apply to our incubation program check us out here!