Embrace the craziness - 5 startup tips from Dom Einhorn
Jul 09, 2024Dom Einhorn is the founder of Intelligent Games, a serial entrepreneur with multiple exits, a top-ranked angel investor, and a marketing wizard. Dom sold his first company in 1996, and many since.
Dom was our guest at the Meet.Capital Startup Podcast, where he shared his thoughts on embracing failure on the way to success, and the mindset that helped him along the way.
Here are Dom’s 5 startup success tips for entrepreneurs:
1. Trust your gut: Listen to your inner voice, or your gut instinct. Your emotional intelligence often outshines your intellectual reasoning. Your gut has evolved over thousands of years to guide you in making the right decisions. So don’t overthink, and get used to relying on your gut feelings to navigate your entrepreneurial journey.
2. Start Small: Begin with small steps to keep risks and costs low. The bigger you start, the harder you fall. If you fail, and most do at some point, it's much easier to recover from a small setback than a colossal one. Aim to fail fast and cheap, learn from it, and move forward.
3. Know When to Pivot or Quit: Don’t be afraid to throw in the towel if things aren’t working out. Sometimes persistence can lead to bigger failures. If things aren’t going as planned, take a step back, evaluate honestly, and pivot or stop if necessary. Scaling a bad idea won’t make it better, it’ll just make the failure bigger.
4. Take Breaks and Recharge: Burnout is real. Give your brain a break. Take evenings off, disconnect, and do something completely different. Incorporate physical activity into your routine, and allow your mind to refresh. This downtime can dramatically boost your productivity and creativity.
5. Embrace the craziness: If you’re an entrepreneur, you can forget about work-life balance. If you’re building a startup, you’re not building a normal life. You’re creating something extraordinary that can change lives. Don’t let societal norms dictate your path. Keep pushing, keep building, and do it your own way.
* Listen to our conversation on the MC Startup Podcast, and our YouTube channel