LESSONS BASED ON YEARS ENTREPRENEURSHIP10

Every year a great bunch of Economic Students organize the EFR Business Week, a week full of seminars, workshops and inspiration. I gave this talk as a grateful former Erasmus Student and shared

my personal lessons based on a decade of entrepreneurship. @klaasweima | Energize

HOW IT ALL STARTED…1989

2005FIRST OFFICE

My personal background helped. I was raised in a entrepreneurial family. My dad was entrepreneur (from university professor, real estate broker and agency owner), and my grand-dad as well, who started off as a

butcher and ended as a international tradesmen in Frozen Foods. My entrepreneurial story started as a gardener.

image courtesy: Steven Depolo

WHO IS AN ENTREPRENEUR?

Many people dream to be an entrepreneur. And to be successful, of course. But only a few dare to make the frog leap. And even fewer succeed. Only 40-60% of Dutch start-ups make their first five

year anniversary. Here’s why.

VISUALISE YOUR GOALS1

image courtesy: The Next Web

I strongly believe in The power of visualization. Stephen Covey stated beautifully: “Begin with the end in mind”. Where do you want to stand in five years from now? I always ask applicants this question.

Ambitious people know what they want and why. Take a mental picture of your future. Try it. It works.

PROFIT IS NOT CASH2

image courtesy: Historias Visuales, Flickr

I learned this lesson the hard way. When I started earning money in my first year, I decided to spend it on expensive furniture. We made a great profit, so why not? But profit is not cash… Profit looks back, while cash

is your real-time metric. My main KPI is the fixed future date which I can make without earning any money.

CLAIM ONE OR TWO WORDS.3

image courtesy: Alex Koloskov, Flickr

We live in a search driven and highly competitive world. A strong positioning is essential to stand out from the crowd. Which one or two words do your want to own? Volvo stands for

Safety. Disney for Magic. Nike for Athletic Performance. What is yours?

MAKE SURE IT KEEPS ON RAINING.4

image courtesy: Cuba Gallery, Flickr

As an entrepreneur you need to be a great salesmen. You may have to pitch 499 times. You have to leave your office to meet new people and seize opportunities. Without a constant flow of leads you

may end up with gaps in your pipeline. I monitor my pipeline daily and use the Cloud Tool Pipedrive.

CREATE RELEVANT CONTENT.5Yes. It is true. Writing a book helps in building credibility. Get your message across by creating sharable content. Blog, record podcasts, write articles in trade journals, tell stories, whatever

fits you. Become an expert by giving, not sending commercial messages.

JUST DO IT.6

Entrepreneurship isn't about writing a 100p business plan behind your desk. It is the art of doing. If you have an idea, go ahead and execute it. Try, learn and pivot. We entered the Chinese market in 2009 without

a bussiness plan or complicated strategy. We just did. And achieved great things in five years time.

TAKE TIME TO RELAX.7Entrepreneurship is like professional sports. It is hard work and stress levels get high. Make sure to unwind and stay healthy. In 2000 my mind was restless and sometimes I had trouble with sleeping.

I discovered yoga. And immediately fell in love with it.

HIRE GREAT PEOPLE.8

Entrepreneurs understand that they cannot make it on their own. You need people. Great people. People who are even better than yourself. Share success instead of keeping it for

yourself. First, find great people. Second, work on your strategy together.

MAKE TOUGH DECISIONS.9Yes. There are setbacks. Yes you have to pitch 499 times. Recharge yourself, try again with a different

angle. Endurance is mandatory. If times are really tough and there is no other solution, get out. Dare to drastically cut costs if needed. Let go of staff members, for the greater good. But always act with dignity.

CREATE MEMORABLE STORIES.10People don't remember you based on great profits and meeting targets. They remember you based

on experiences and unique team moments. Make sure you create a great culture based on memorable stories. Be open, authentic and treat people the way you want to be treated.

REMEMBERIT IS ONLY WORK.

At the end of the day, it is only work. Make sure you create a stable, loving and warm homebase. Living with an entrepreneur can be really tough. Understand, respect and love your

partner. Hug your kids. Because family is the most import thing that matters.

THANKS FOR YOUR ATTENTION! Questions? Remarks? Drop me a line klaas@energize.nl