(via emergic) good article on entrepreneurship. Some key points
“An entrepreneur has to like to take big risks,” says Jim Griffin, founder of Griffin Services of Atlanta, Georgia. “When I say big risks, I mean BIG risks.
The biggest single fault in the creation of business plans is unrealistic expectations. But you have to think about this—one of the classic traits of an entrepreneur is optimism. Nobody wants to innovate if they think it won’t work.
human capital is key to any success in business. Without good leadership, you won’t get far. And don’t believe that you, as the boss, are infallible. “Try to hire the most expensive management team you can hire,” says Matthews, emphasizing that “most expensive” means “best value.”
“Probably the best entrepreneurs in the world are the Chinese and Indians,” says Matthews. Why? Because “the family is involved. When everyone is involved then everyone feels the same pressures and the same stresses.
“Whatever business you get into, it is a way of life,” says Matthews. “You better pick something you like. You have to live it. I never had so little time off as when I started my own company.”