After selling Reddit to Conde Nast in 2006, Alexis Ohanian has now rejoined the company full-time — and he’s had a lot of time to reflect. Earlier this year, he candidly shared what he learned on his long stint away while advising a number of other startups. In particular, he focused on what he didn’t do that made all the difference to his career, and one of the big ones was not choosing mentors or role models that seemed at all opposed to risk. Ideally, you want to surround yourself with people who will push you past your appetite for risk if that’s what needs to happen. Choose mentors, investors, advisors, who have broad vantage points and long histories of watching companies rise and fall. You want folks who have seen enough to know they’ve seen too much, and who will talk you into pushing yourself as a result. Ohanian experienced this first and foremost with YC Co-founder Jessica Livingston, who suggested that he go on a fake press tour in New York when he was just 22 — or rather, try to generate a bunch of reporter conversations out of thin air. At first, he was intimidated and balked. But, having been through a lot herself, Livingston was able to put it in perspective and make it sound low-stakes. He went through with it — and if he hadn’t, he never would have made the connection that led to Reddit’s sale.

Mostly the budding entrepreneurs do two mistakes at the start: Most budding entrepreneurs do not have a funded business and also haven’t raised a venture capital. In terms of the money they have only six months and between that, they have to achieve their goal. While they are dreaming of every possible aspect which can assist them in order to attain the goal. Soon the realization hits them and they run out of cash. Secondly, there are a few who are well funded and they don’t make the necessary efforts to generate the revenue. They are so used to the ideas that losing a huge amount in burn rate is completely fine because they have a funded company. Such people focus more on raising their next round instead of actually making the profitable business. More information can be seen at Marketing strategies.

Before you launch your business make sure you have some money: make savings, borrow from family and friends or approach potential investors. Make a financial back-up plan. Learn how to make a budget for your business. Do not expect that once you start your business to receive financing from a bank, because generally they are reluctant to finance start-ups. Consider using a financing program for new businesses such as the START Program. You, as an entrepreneur, are the best marketing agent for your business, so everything you do and communicate must inspire professionalism. This means that everything from clothing and attitude to business cards and behavior must be impeccable and give potential customers and collaborators confidence.

You are the designer of your life. If there are parts of your life that do not fit well, you can make adjustments. Think of your life and career as clay on a potter’s wheel and you as the potter. Get a picture in your mind of what the masterpiece looks like and keep shaping toward that picture. – Bonnie Hagemann, Executive Development Associates Source: https://theentrepreneurresearch.com/.