Response to Guy Kawasaki's Post of Top Ten Lies of Entrepreneurs

Welcome to the latest post of Engineers, Entrepreneurs, & Start-ups. I try to write this blog from a standpoint of helping others, specifically budding entrepreneurs. This means engineers, college students and anyone trying to start their own business. I came across an old blog on Guy Kawasaki's website titled "Top Ten Lies of Entrepreneurs". My guess is that Guy is a successful entrepreneur that has crossed over to the dark side (venture capital). Although in retrospect a lot of successful entrepreneurs go the dark side and it seems like a pretty good gig.

In my humble opinion, it seems like Guy has forgotten what it was like to be a hungry, go-getting entrepreneur. Whether you’re an engineer, college student, engipreneur or an entrepreneur just starting out I strongly believe these so called lies are necessities for people undertaking their first venture. When entrepreneurs tell these "lies" they truly believe them to be a possibility (even if it's little big of an exaggeration). These “lies’ represents the passion, the grit; the determination to succeed that is required to navigate the perils of a start-up company. This "not knowing it can be done" leads entrepreneurs to try. Sometimes they succeed and it's truly great, and sometimes they fail. But when true entrepreneurs fail, it is not in vain. They stand up and try again. They learn valuable lessons and sometimes see other opportunities or directions they can go, maybe even better then the original plan.

If new entrepreneurs did not believe that Boeing is sending over a large purchase order or that the management team can get the job done they will probably fail. The confidence and optimism are essential to getting through the tough times.

However, I will agree that underestimating your competition and assuming no one else is doing what you’re doing is a recipe for disaster. When developing strategy it is very important to always keep the competition in mind.

I feel it is very important for engineers, entrepreneurs, and engipreneurs to dream big but stay grounded in reality. For example, the reality that whatever the business may be it is going to take a LOT of work to make it happen. The reality that the odds are stacked against you, not any idea will work and you can’t make it happen on guts alone. Perhaps even most important is the reality that although I disagree with Guy, he seems successful and knowledgeable his advice/columns (or anyone with experience in your field) should be considered, but always with a grain of salt.

Good luck!

The Idea -- Engineers, Entrepreneurs, & Start-up Companies

Welcome to the latest edition of Engineers, Entrepreneurs, & Start-up Companies. In this post I wanted to cover the topic of finding an idea. Obviously Entrepreneurs, Engineers, and Start-up Companies need an idea, an idea to build the business around. By idea I mean many things for example, this idea can be new and innovative, a new way to solve an old problem, bringing an old idea to a new market, etc. This idea typically needs to solve a problem in a new, innovative way or find a solution for a problem people/businesses don't realize is a problem yet. This is easier said then done, actually it's pretty difficult.

In my experience it isn't necessarily the actual idea that matters, but the process that the engineers, entrepreneurs and start-up companies use to select an idea. Being flexible and willing to adapt is extremely important. Your first idea as an engineer, entrepreneur, or a start-up company might be a complete failure. As an engineering major in college I worked (long hours, no pay) on two other ideas that not only looking back were bad ideas, but went no where. I also had two ideas that I worked on that other companies later developed. As engineer and entrepreneur it felt good being ahead of the curve on those ideas, but we realized that our current venture has a much larger market. Regardless, I learned a lot from those ideas and use that experience in my current start-up. Furthermore, while working on a certain idea you may find an even better idea for your start-up.

My point is do not be dead set on any idea you're working on because it might change and most of the time it will probably be for the better. People have often said stick to what you know and I completely agree. You will need to passionate about your idea or your role in the venture because times will get tough. As an Engipreneur ( to use a newly coined phrase) or an entrepreneur you will have to work many hours and work hard. Some days your brain will hurt. It is much easier to do that if you enjoy or at least are interested in your idea. I remember working roughly 100 hours/week in the beginning of my start-up.

Finding an idea does not take any special skills besides being observant, patient, and constantly thinking "how can I make this better/more efficient". Finally, very few will purchase your new idea/product if doesn't save them money, time, comply with regulations, etc. Essentially, the purchase needs to be justified. For example, very few environmentalists will subscribe to sending their garbage to sun if costs $5,000 a year to do it, even though it does not pollute the Earth. It just doesn't make financial sense. So as an engineer, entrepreneur, or even engipreneur always keep that in the back of your mind. Thanks for visiting Engineers, Entrepreneurs, & Start-up Companies.

Welcome to Engineers, Entrepreneurs, & Start-up Companies -- Welcome to the Blog!

Welcome to Engineers, Entrepreneurs, & Start-up Companies. This site provides tips, techniques, a forum for sharing ideas, and advice for entrepreneurs starting companies. Although most would consider me an entrepreneur first, my education is in engineering (M.S. and B.S. in mechanical engineering). I will cover all topics entrepreneurship but the blog is slanted to engineers and or college students starting a business. Starting your own business can seem overwhelming to anyone (especially engineers/college students). However, I can assure you engineers are one of if not the most prepared professionals to become entrepreneurs. College students also have an advantage due to being "untainted from big companies" and "not knowing it can't be done."

Besides the regular postings ,please email me with any questions at engineer.entrepreneur@gmail.com . Good and/or relevant questions will be great blog topics. Thanks for visiting Engineers, Entrepreneurs, & Start-up Companies.