10 Principles For Surviving Hard Times In Any Startup

Devil-in-business“The devil in the details” is a quote that we have all heard, and clearly applies to startups, where success in the long run is all about execution. But for you as an entrepreneur trying to get started, the devil is really in your mind, where you must prevent drifting, and maintain that confidence, commitment, and passion, to achieve your business dream.

This is highlighted well in the classic book finally published just a few years ago, “Outwitting the Devil,” annotated by Sharon Lechter. It was written way back in 1938, by the famous author of “Think and Grow Rich,” Napoleon Hill. It was too controversial to publish then, due to religious connotations, but still has key lessons for every entrepreneur today.

The premise of the book is an interview with the Devil, where he admits that he dwells in idle minds, and finds it easy to control the minds of drifters. Drifters are people who do little or no thinking for themselves, and allow themselves to be influenced and controlled by other people and circumstances.

In an interview, the Devil confesses that all people need only follow some key principles to outwit him (adapted a bit here for entrepreneurs):

  1. Do your own thinking on all occasions. Pursue your own dreams and your own thinking. Listen to others input, but make your own decisions. For success, entrepreneurs have to overcome any human tendencies toward laziness and indifference, which lead to procrastination and drifting.
  1. Decide what you really want from your business. Set your goal, and create a plan for attaining it. Be willing to sacrifice everything else, if necessary, rather than accept permanent defeat. Drifters chase a business idea for all the wrong reasons, and then give up easily, like get rich quick, or to please someone else.
  1. Analyze temporary defeat, no matter of what nature or cause. Extract from it the seed of an equivalent advantage. In business, it’s commonly accepted that you can learn more from failure than from success, if you choose to learn.
  1. Be willing to give before you receive. Other entrepreneurs and investors will more readily help you, if you have helped them first. In addition, you dramatically increase your odds of success if you learn the business domain first, before you try to lead in it.
  1. Recognize that your brain is a receiving set. Curb your output, and be an active listener, by providing feedback, an optimistic attitude, motivation, and a concern for people. A key part of receiving input is listening to what is not said.
  1. Recognize that your greatest asset is time. This is the only thing except the power of thought which you own outright, and the one thing which can be shaped into whatever material things you want. Budget your time so none of it is wasted.
  1. Recognize that fear generally is a filler. Fear rushes in to occupy the unused portion of your mind. It is only a state of mind, which you can control by filling the space it occupies with confidence and passion in your ability to overcome obstacles.
  1. When you ask for help, do not beg. Take full responsibility, and don’t be the victim. Make sure you earn any help provided, and don’t forget to properly thank your benefactor. In a startup, there is no entitlement to funding, or to a second chance.
  1. Recognize that business is a cruel taskmaster. Either you master it or it masters you. There is no half-way or compromising point. Never accept from a business anything you do not want. You can refuse, in your own mind, to accept it and it will make way for the thing you do want.
  1. Remember that your dominating thoughts attract. To become the master of your destiny, you must learn to control the nature of your dominant, habitual thoughts. By doing so, you will be able to attract into your life anything you choose. Your thoughts create your reality.

I couldn’t help but think that these points are still so relevant today in our own pandemic recovering economy, even though they were written during a comparable challenge over 70 years ago. I guess we all should take comfort in the fact that even though we live in a world of constant change, some things about human nature will always be the same.

Can you outwit the Devil today to succeed in your dream?

Marty Zwilling
Startup Professionals Musings

Literally a List of 27 Hard Seltzers Sold in Australia, Because Summer is Coming – Broadsheet

Literally a List of 27 Hard Seltzers Sold in Australia, Because Summer is Coming  Broadsheet
“sweden startups when:7d” – Google News

I’m having a hard time pinpointing and articulating the problem I’m trying to solve. Are there any resources that can help me work through and figure out an answer?

I am moving forward with a decentralized magazine concept for the fashion space in my locality, but the problem it solves doesn’t really feel like a real problem. This concept would offer creative freedom and a community of like-minded individuals to collaborate with. But Instagram offers both freedom and community; so what does that mean for me?

When it comes to things like roadside-assistance, replacing your tire when you get a flat, it’s so easy to articulate and understand the problem being solved. But when it comes to something like starting a new community, I have a hard time because there are countless existing communities. Does my community solve the problem of traditional magazines where the creatives have no freedom? Does my community solve the problem of traditional magazines where only a limited amount of people are able to contribute to the big idea? Does my community solve the problem of having no access to a pool of talent to collaborate with, even though that pool of talent is on Instagram?

I just don’t know how to understand, pinpoint, or articulate these things. Do you know of any resources that can help me work through and figure out answers?

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Startups – Rapid Growth and Innovation is in Our Very Nature!

What if I can save 30% of my daily work time, if I can automate my meetings notes! What if I had an AI-BOT that will do all the hard work and take the meeting notes for me!!

COVID actually has been productive for me. I was doing 6-7 online meetings and then I was spending another couple of hours on just taking notes.

So, I thought of creating a system where I can automate the notes. I wanted to have action items, highlights, summary etc. Finally with 4 months long day and night work we have finally managed to launch the BETA version.

Here is what we have achieved so far –

  1. An AI-BOT that joins all the meetings on Google Meet, Zoom, Microsoft Teams.
  2. Action Items + Summary + Highlights + Decision Points + Questions + Metrics
  3. Full-Transcript + Speaker information.
  4. Meeting notes share functionality with others.

Now it is the time to get your feedback and suggestions. Please have a look and try one of your meeting and let us know if our day and night work has paid off!

Here is the link – www.rechord.ai

We are still in BETA so please excuse us if you have encountered any bugs, we will fix them.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Delaware Innovation Space gets $1.5M grant to launch Hard Science Startup Accelerator – Coastal Point

Delaware Innovation Space gets $ 1.5M grant to launch Hard Science Startup Accelerator  Coastal Point
“startups when:1d” – Google News

$1.5 Million EDA Grant to Delaware Innovation Space to Launch Hard Science Startup Accelerator – State of Delaware News – news.delaware.gov

$ 1.5 Million EDA Grant to Delaware Innovation Space to Launch Hard Science Startup Accelerator – State of Delaware News  news.delaware.gov
“startups when:1d” – Google News