The Easiest Way to Succeed as an Entrepreneur

[andviv]

The Easiest Way to Succeed as an Entrepreneur Altucher Confidential

The MOST IMPORTANT RULE: Have a customer before you start your business. This is a corollary of the phrase, “ideas are a dime a dozenâ€.There is another corollary: lazy is best. If you have to work for two years before one dollar of revenue comes into business then thats too much work. I’m lazy so I like money coming in with as little work as possible. Mark Zuckerberg, of course, is different. He put in years of work before dollar one of revenue came in. But we’re different people.
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FAKE RULE: People say, “Execution is importantâ€. That’s not really true either. Execution is useless. It’s a commodity. The only thing that’s important is money. You get money by having a customer. You get a customer by satisfying a need that’s so important to them they would be willing to pay for it. If you have a customer that’s willing to pay you money, then execution becomes a lot easier. Life as an entrepreneur is hard. Why make it harder for yourself?
I like stability as much as I like taking risks. So for me, I need a customer. It’s a matter of how much risk you want to take. In an earlier post I suggest reasons why people need to quit their jobs and jump into the abyss. If a customer happens to be waiting for you in the abyss then you won’t be lonely there. Loneliness is bad for a startup.

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[Jake]

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