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“If you’re reading this book, it’s probably because you hope to become a truly successful entrepreneur. You want to build something dynamic, useful, and great, and may be even get rich in the process.”
“Most ventures fail usually for a good reason.”
“Challenge and hardship can be the best teachers.”
“You’re a product of all the decisions you made.”-- Mark Cinedella"There are skills, attitudes, and a fundamental base of knowledge that education and experience can provide. You won’t turn me into a worldclass athlete by sending me out to practice with a coach, but I will certainly play a better game. Entrepreneurship is no different.”-- Professor Howard Stevenson, HBS
“Chance favors the prepared mind.” – Louis Pasteur
“When one person’s network expanded, [both at and after Harvard Business School] everyone else’s network expanded too”
“Ideas are a dime a dozen. Execution is what is important.” -- Professor William A. Sahlman, HBS
“If you are planning to be an entrepreneur, you should be planning to be a salesman. You’re constantly selling. You’re selling yourself when your company doesn’t even exist yet; you’re selling the concept to potential employees; you’re selling to customers. And you’re trying to convince suppliers that this teeny company of yours that isn’t well finance--you’re selling them the belief that you’re going to be succeed.”--Professor Ed Zschau, HBS
“I would much rather that they die regretting what they have done than what they have not done.” -- Professor Joseph Lassiter, HBS..ask yourself, who has really got my back? Who can you count on to take a genuine interest in your efforts? Who will offer good advice but also enthusiastic encouragement? If people who are important to you won't provide that sort of support, can you at least inoculate yourself from their negative influence? And if you don't have mentors and role models, who can help you achieve your dream of becoming an entrepreneur, you'd better make a serious effort to seek them out."
“They say that comedians live in the same world as the rest of us; they just see everything differently. It’s the same with entrepreneurs. Once you’ve truly made that commitment, you’ll be amazed at how quickly you begin to see the world in a different light.
"Problems give way to opportunities. 'Why?' becomes 'Why not?' 'It’s always been done this way' turns into 'What if we tried something different?'"
"Opportunity is personal, not universal. It grows out of your talents, experiences, interests, and the problems that you’re uniquely positioned to perceive in the world."
“While successful entrepreneurship does indeed require innovation, focusing first on the solution rather tan the problem that needs to be solved can be a recipe for failure.”
“Decide where you want to live, pick an industry with good prospects and ample opportunity, find the best job you can, and then look for good mentors. If things go well, you will soon have firsthand knowledge of the industry – and as time goes on there’s a good chance you’ll be able to identify the problems that people truly want someone to solve.”
“It’s easier when you really care about solving a problem. It’s definitely easier to stick with it if you like the business.”--Marla Malcolm Beck
“A real opportunity consists of both the problem and the proposed solution.”
“Don’t go out there and look for experiences. Experience’s what’s you get when you don’t achieve what you want. Go out there and do what you want to do and succeed at it.”-- Barry Beck
“Innovation usually comes from either bringing a new technology to an industry or coming up with a new business model.”
“Some of the best ideas are simple,” --Professor Ed Zschau, HBS
“If coming up with innovative ideas is difficult, doing so again and again is much harder.”
“What often keep you going, I’m sure, is knowing that your venture is your baby. It's your dream.”
“It’s not who you know. It’s who you get to know.” -- Chris Matthews
“Change creates unprecedented opportunity. But to take full advantage of those opportunities, focus on the team. Teams win.” – John Doerr
“An HBS student who gets in to an argument with a member of the school’s administration. As the debate grew heated the student exclaimed “Why are you treating me like this? I’m your customers!” Shaking his head, the administrator soberly replied “No, you’re not. You’re the product.””
“People are drawn to the excitement of somebody who is really alive, really on fire about something”
“The number one rule is to be passionate about something. Your passion is your best means of meeting people. There’s so little o it in the world, and people are drawn to the excitement of somebody who is really alive, really on fire about something. Everything else follows.”-- Marc Cenedella
“It’s your dream, sometimes there’s simply no other choice. You must do it alone.”
“To be a champ you have to believe in yourself when nobody else will.” -- Sugar Ray Robinson
“Thinking new is important, but they need customers who can think new as well.”
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasm, the great devotions; who spends himself in a worthy cause; who at best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”--Teddy Roosevelt:
“Starting your company means that, much of the time, you have to do the difficult work and make the hard decisions alone.”
“Analytic can only take you so far. Pass that point instinct has to take over.”
“One of the tough tensions that good founders face is how to be solo players, but at the same time, still be team players.” -- Noam Wasserman
“True entrepreneurs work extremely hard to take as little risk as possible. They don’t cultivate a large appetite for risk. Instead they manage risk.”
“One of the great myths about entrepreneurs is that they are risk seekers. All sane people want to avoid risk.” – Professor William Sahlman, HBS
“It’s much better to have some other offer and not need it than to need one and not have it.”
“Leadership is getting someone to do what they don’t want to do, to achieve that they want to achieve” -- Coach Tom Landry
“Passion is a critical part of your job. If you're not passionate, let me either help you become passionate or help you find something else that you are truly passionate about.”
“No good leader will be universally liked.”
“Leadership is about organizing people, and motivating them to work together toward a common goal.”
“Your venture is only as good as its best salesperson.”
“Start and build, and take your win! Take some money off the table.” -- Ledeky-Darman theory of entrepreneurship
“Free is the wrong price.”
“As soon as you decided to become an entrepreneur, you become a sale person.”
“When somebody suggest that they can teach you to sell anything to anybody, Run! Don't walk away.”
“You don’t want to sell anything. You want to sell your things.”
“People want to believe. They want to believe in you. They want to believe in your company. And, your job is simply to give them the opportunity to believe.”
“Never give in. Never give in. Never, never, never, never – in nothing, great or small, large or petty – never give in, except to convictions of honor and good sense.” – Winston Churchill
“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘press on’ has solved and always will solve the problems of the human race.” – Calvin Coolidge
“The idea just gets you started. Once you get in the game, you’ve got to work at it until you figure it out. And no matter what we do, no matter how much success we have in a given year, the game is always about survival. Nothing stays the same for ten years. We’ve had to change our strategy year after year after year. If you can survive through all the tough times, you’ll be that much stronger when the good times finally come.” -- Marla Malcolm Beck
“The reasonable man adapts himself to the world; the unreasonable an persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw
“We need 100,000 people in 100,000 garages trying 100,000 things – in the hope that five of them break through.” – Tom Friedman
“The freedom and security provided by a high income or a significant windfall are much more important to highly successful entrepreneurs than the money itself. At the deepest level, what matters most is finding a true measure of fulfillment – one that leave you feeling that you have used all your talents to accomplish something worthwhile, make a difference in people’s lives, and leave a legacy for those who follow.”
“Entrepreneurship isn’t just about solving a problem, building a venture, managing risk, or making money. It’s about having a positive impact on the world, making the most of the gifts you’ve been given, and realizing your full potential as a human being. An intelligent entrepreneur, in short, plays this game for life.”
Source:The Intelligent Entrepreneur: How Three Harvard Business School Graduates Learned the 10 Rules of Successful Entrepreneurship by Bill Murphy Jr.
Book or Audiobooks?
Personally, I prefer audiobooks. It's fun, and I can listen when I'm doing something else. It also makes other activities (e.g., jogging) a lot more fun. For more detail about audiobooks, please read [this post].
There is one more reason that may encourage you to go for the audiobook version. You can get it now for FREE. Audible offers you a free trial for 14 days. Even if you get the book and cancel the subscription right away (so that you don't have to pay), you can keep the book. And, don't worry if you lost the audiobook file. Just log into audible.com. You can keep downloading the over and over again.
However, when the material is an audiobook, it is extremely hard to locate a specific part of content. Most likely you will have to listen to the entire audiobook once again.
This book summary will help solve the pain of having to go through the book all over again.
I am leaving out the details of the books. Most books have interesting examples and case studies, not included here. Reading the original book would be much more entertaining and enlightening. If you like the summary, you may want to get the original from the source below.