High-Impact Entrepreneurship

Top Entrepreneurship Tips from the #endeavorsummit

This June, Endeavor Entrepreneurs and Endeavor network members convened in San Francisco to hear business leaders’ best entrepreneurship tips at the 2013 Endeavor Entrepreneur Summit.

Attendees enjoyed three days of keynotes and fireside chats, interactive workshops led by business execs, and a speed networking session. Entrepreneurs had the chance to learn from the masters and take away lessons to help them grow their high-impact businesses.

In case you missed the Summit, here’s a second look at some of the event’s most impactful (and most-tweeted) tips and tricks:

1. “Every transaction is a social event!” said Biz Stone, co-founder of Twitter, Jelly, and The Obvious Corporation. Stone pointed out the role passion plays in building a business as the fundamental ingredient in a recipe for success. “When you are emotionally invested in something, it will carry you through the bad times,” he explained alongside Jack Dorsey.  Stone and Dorsey remarked that Twitter was founded and fueled not by a business mantra, but by an idea: the power of conversation can connect people across the globe.

2. “The best leaders learn the fastest,” stated John Donahoe, CEO of eBay.  With business growing more global by the minute and the distinction between virtual and physical transactions fading fast, the importance of understanding subtle shifts in the pulse of the market cannot be understated. Along the lines of this advice, Ali Partovi, the highly successful investor, encouraged his audience: “Don’t let your fear of failing stop you from taking risks.” Think before you act–but not so much that you miss the boat.

3. Not certain how to go about choosing your team?  Take the advice of Dave Goldberg, CEO of SurveyMonkey: “Work with people you like to work with, work with people smarter than you, and work to people’s strengths.”  As the marketing company MFG.com founder Mitch Free put it, “Every person is a genius in something.”

4. Master tech advisor Ben Horowitz added stated, “I hope you have an irrational desire to build a company–you will need it!”  Gina Bianchini, who co-founded the social platform Ning, affirmed the necessity of having patience when embarking on a business venture, stating that failure is often part of the path to success.

5. Sometimes, though, persevering seems hard, even impossible. Jawbone Founder Alex Asseily’s take on failure is not just to overcome it, but to learn from it: “Rejection strengthens us, but it is also feedback that you need to continue to improve.”

6. Fernando Fabre, Endeavor’s president, concluded the Summit by discussing the entrepreneurial life cycle.  He explained, “A high-impact entrepreneur is defined in two stages. Stage one: be successful and scale. Stage two: use the success to mentor and invest in other entrepreneurs.” It’s just another way of spreading the entrepreneurial spirit; success grows off of itself, so the more you can lead others to it, the more pay-off there will be for your own company.  Bestselling author Chris Zook took a similar approach, returning to the words of Aristotle as a guide for the future: “We are what we repeatedly do. Excellence is a habit.”

Hungry for more advice?  Check out the top tweets from the event (#endeavorsummit) to hear the speakers’ most memorable tips.

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