Tuesday, March 10

Paul Graham's two words to describe an Entrepreneur

A smart investor here just told me of Paul Graham's blog article where he sum's up the traits of a good entrepreneur in two words:
"If I were running a startup, this would be the phrase I'd tape to the mirror. "Make something people want" is the destination, but "Be relentlessly resourceful" is how you get there."
Getting the essence of a product or business into a few simple words is the goal of so much advertising, investor pitches, hollywood movie pitches. If you can make it simple enough then the idea will probably travel and spread. Which gives you a cheaper way more effective way to market. But it's an incredibly hard thing to do. "If it absolutely has to be there on time", "the low-cost airline", "Honda: The power of dreams".

For Buzz we started with "It's only hot when you make it Buzz", now we're evolving that to "Save the cool web"... as we get closer and clearer to the value proposition and reason for our product.

Paul's business is investing in start-ups, and he's coined this simple phrase, which makes it easy to share his expertise with others. Anyone that works with him will check the next team behind the business plan that lands on their desk against these two words "relentlessly resourceful" - pass / fail.

Unfortunately, as a entrepreneur we can be so "relentless and resourceful" most of the time we can't look at ourselves and see what we need to be. So if you already have those traits, you're probably doing the right things.

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