I had earlier discussed a key aspect of a firm’s business model and value proposition that could make it enormously valuable. However, even the greatest business model cannot deliver extraordinary returns without an exceptional team at the helm. In this post, we will delve into what makes an entrepreneur, an entrepreneur : determination.
But why determination? Let’s hear from both sides of the table, shall we?
Elon Musk (If only one person deserved being called an entrepreneur’s entrepreneur, it could well be him) has this to say on the subject:
“Starting a company is a very tough thing. There’s a friend of mine, Bill Lee, whose phrase is ‘starting a company is like staring into the abyss and eating glass.’ So you should certainly expect that it’s going to be very hard. It’s going to be harder than getting a job somewhere by a pretty good margin and the odds of you losing the money that you invested or your friends invested is pretty high. I mean, those are just the basic facts. So if you don’t mind things being really hard and high risk, then starting a company is a good idea. Otherwise, it’s probably unwise. It will certainly stress you out. So I think you have to be pretty driven to make it happen. Otherwise, you will just make yourself miserable.”
