In spring 2019, the IDS (Information Technology, Design, and Startups) program at the iSchool celebrated its 10th anniversary. To commemorate a decade of innovation, the iSchool is launching its inaugural podcast next week!
I had the opportunity to converse with 10 of the program’s most successful companies and have crafted brief podcasts from each dialogue. InfoSpace will release these podcasts over the next 10 Wednesdays. While the first episode airs next week, I’ve compiled advice from each of the 10 founders on what it truly takes to embark on a business venture. If you find this helpful, be sure to tune in for our launch next week!
1. Take Action, Even if It Doesn’t Succeed
Jacob Tanner of Digital Hyve advises, “Starting isn’t simple. People should realize it demands effort, but they must take action. Even if it fails, they’ll learn more than just planning and waiting.”
2. Share Your Concepts
Kevin Rieck from Ravle suggests, “Don’t keep your ideas hidden. Nobody is out to steal them. Share them with the world and gauge reactions. It’s the best way to find customers and receive valuable feedback.”
3. Cultivate Passion Early
Scott Friedberg of Gilded Social recommends, “Utilize your initial ignorance of the challenges ahead to become passionate about your idea. Later, when you realize the difficulties, that passion can drive you through tough times. Initial naiveté is crucial.”
4. Think Beyond Traditional Education
Danny Goldberg of Golden Gear asserts, “Entrepreneurship can’t solely be learned from textbooks. Much of business defies textbook explanations. While you can study business theory, starting your own business is about hard work and resourcefulness.”
5. Build a Strong Support System
Brandon Eng from ExPrep emphasizes, “Form a robust team and support network. A strong team makes life easier when you’re already juggling many roles. Having capable individuals who collaborate effectively is vital. Additionally, starting a business is tough, so a support system is invaluable during difficult times.”
6. Embrace Challenges
Charlie Preuss of Imajion advises, “Don’t let criticism deter you from starting. Begin and tackle challenges as they arise. The longer you delay, the harder it becomes. Dive into the challenge headfirst.”
7. Pursue Entrepreneurship for the Right Reasons
Patrick Ambron of BrandYourself cautions, “Ensure you understand what you’re getting into and your motivations are genuine. Many are attracted to entrepreneurship for its allure, but it demands sacrifices like personal time and lifestyle. Reflect on whether you’re ready to prioritize your business above all else.”
8. Focus on Short-Term Progress
Andrew Farah from Density suggests, “Initially, measure progress in days, not weeks. Show your product to users within the first three weeks, rather than waiting until it’s perfect. Also, familiarize yourself with the writings of Paul Graham.”
9. Trust Your Intuition
Rachel Renock of Wethos advises, “Trust your instincts. Amidst the sea of advice, there are individuals who may undermine you. I’ve found that decisions made against my intuition have led to regrets. Ultimately, you understand your business better than anyone else.”
10. Be Passionate
Luis Romo of Purple Sun emphasizes, “To succeed, you must be consumed by your idea and fully committed. If you lack passion, it’s easy to give up. Obsession is necessary for success.”
