What’s the Biggest Challenge For New Entrepreneurs?

What's the Biggest Challenge For New Entrepreneurs? from The Startup Garage
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Welcome to video Fridays
from The Start Up Garage


A place where Tyler Jensen, The Startup Garage’s founder, answers questions directly from viewers

Key Take Aways From Video:

1. The biggest obstacle that new entrepreneurs tend to face is really overcoming their personal limitations.

2. As a new entrepreneur you need to be coachable, which means you need to be able to listen to other peoples viewpoints and opinions and consider them seriously.

3. Be realistic about your strengths and weaknesses.

4. Surround yourself with people who compliment your weaknesses.

Complete Transcript below:

Question= “What’s the biggest obstacle that new entrepreneurs tend to face?”

Tyler Jensen: The biggest obstacle that new entrepreneurs tend to face is really overcoming their personal limitations. In order to be successful new entrepreneurs really need to learn a whole bunch of new knowledge, they have to learn new leadership skills, and communication skills.

Nicole Morris: So what would you say are some kind of tips for overcoming these?

Tyler Jensen: I would recommend number one is that you really need to be coachable, which means you need to be able to listen to other peoples viewpoints and opinions and consider them seriously. You also need to be realistic about your strengths and weaknesses. You don’t want to overestimate or underestimate your abilities. I see this all the time — you just need to get real about it. And thirdly which compliments this with, you need to surround yourself with people who compliment your weaknesses. Don’t be afraid to not know everything and not be able to do everything. No one person is good at all the parts of running a successful startup.

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About Tyler Jensen

I work with entrepreneurs who are looking to attract investment and get out of the "Garage". I am passionate about helping entrepreneurs start companies that matter. I helped launch over 100 Companies, Non-Profits and Social Enterprises. I consider myself a serial entrepreneur, startup coach & trusted advisor. * Launching New Companies (For Profit, Non-Profit and Social Enterprise) * Expert Business Plan Writer * Extensive Network of Business Relationships focused on Launch & Rapid Growth of New Companies * Startup, Growth, Marketing, Technology, Web, Business Systems * Trusted Advisor to CEO’s & Entrepreneurs * Capital Raising Strategy Development * Startup Team Development The first company I started and sold is VAVi Sport & Social Club which grew to over 25,000 members in six years, was recognized as San Diego’s 30th fastest growing private company in 2006 by the San Diego Business Journal and 32nd fastest in 2007, and sold for over 25X the capital investment.