Dan Martell is the co-founder of Flowtown, a social marketing platform focused on helping small businesses achieve real results in the world of social media. Dan champions entrepreneurs, and hit on five points for entrepreneurs to implement. As he said at the outset of his talk, “Anyone who decides to make the leap to do a startup deserves a support.” Here are my notes.
- Not listen to your parents. – Your parents are biased. They don’t want you to hurt. Their advice is supportive, but not let you go out and try something that is risky. Was involved in company where projections dropped 40%. I was going to have to lay off or go bankrupt. I asked my dad what to do. He said, “Do what you know how to do”. I moved away from my role/work in company.Knowing what I know now, I should have doubled-down. (80% of children will have exact same lifestyle as parents.)
- Embrace laziness. – Embrace the fact that you should find people that play at things you do at. Hire an assistant. Even if small company, get help so you can focus in on the stuff that only you can do. Assistant can do operations.
- Choose your friends carefully. – You are the average of the 5 people you spend the most time with. Entrepreneurship is lonely. It’s a pendulum. Swing from exclamation mark to question mark. Sent an email to provincial premiere asking for 3 people to talk to about technology. Premier sent 3 names back to talk to. One of the guys talked to, the first thing he said was “Congratulations”. It was good to hear that because most of the people don’t understand what you’re doing. It validates what you’re doing.
- Hustle to help. – The currency in San Francisco is introductions. It feels good to get people connected to the right people, and it will ultimately pay off for you. I go out of my way to help because I don’t how but it will payoff.
- Failure is part of the process. – Entrepreneurship is taking a hit and getting back up. It’s not about failing, it’s about not dying. Failing is normal. “Let’s do what we’d want to do to us.” Mitigate the negative impact.
“If it’s a good idea, start today. What’s the next action item to move it forward, then go do it.”