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Get a glimpse of what it takes to start and successfully run a business in this candid interview with seasoned business coach and author Dave Crenshaw. Discover the secrets of managing priorities, working for your customers, bankrolling an idea, and investing in future success. The course covers tips from getting started as an entrepreneur to pitching to investors and researching the competition.
Jeff: Hi I am Jeff Layton, training producer at lynda.com, and I am sitting here with Dave Crenshaw. As an author, speaker, and CEO coach, Dave has helped thousands of clients worldwide to build successful businesses. Today I am going to be getting his insights on what it takes to be a successful entrepreneur. So let's say I am just getting started. I have a great idea for a business. How do I actually get started? What are the first steps? Dave: Well, the first thing and this is a common issue that people have when they want to start a business is you need to understand the difference between an idea and an opportunity.
A lot of people have an idea. They say, oh I want to start my own business either because people have told them they should be in business for themselves, or maybe they just have an idea for an invention. But there is a difference between an idea and an opportunity. Just getting the idea in your head doesn't necessarily mean that it's a great time for you to get into business, that you have the expertise that you need, that you have the capital that you need to succeed. So what I tell people when they say I am thinking of going into business is I ask them to really analyze--is there a market for what they want to sell? Do they have the capital that they need to succeed? Do they have the expertise in the area? All of those things sort of play into deciding whether or not it's an opportunity, instead of just a great idea and just strike out on your own.
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