Takeaways from the 2016 Academy of Distinguished Entrepreneurs
The following post is from Fifi Shi ’18, a Butler Venture Accelerator team member.
Academy of Distinguished Entrepreneurs®, the world’s first entrepreneurship hall of fame, was held November 10 as the kickoff event of Babson’s Global Entrepreneurship Week. Two new entrepreneurs were recognized for their outstanding business achievements and their contributions towards society. This year’s inductees were Stephen Kaufer, CEO and Co-Founder of TripAdvisor, and Sheila Lirio Marcelo, founder, chairwoman and CEO of Care.com.
During the ceremony, the two inductees shared their experience as well as lessons learned throughout their journeys as entrepreneurs. Here are some highlights:
- An entrepreneur’s success story is not about the entrepreneurial leader but about the entrepreneurial team. It is the quality of the entrepreneurial team you are building that makes your business a success.
- Love to learn. Be curious about what is going to happen next. Don’t be afraid of making mistakes. Keeping trying new things and, if you fail, move forward.
- Entrepreneurs don’t see obstacles, they see challenges; they don’t see failure, they see opportunities to test, to iterate, and to back up again.
- Speed wins. Move fast in achieving whatever you goals are. The sooner you can finish something, the sooner you can start the next thing.
- Done is better than perfect. You want to have as much done as soon as you can. Use the feedback system to figure out how you can improve your business.
- If it is worth doing, it’s worth measuring. Having those measurements, you can know when to stop or where you want to spend more resources.
- The harder you work, the luckier you get.
- Embrace the change and reinvent yourself as well as your business. Force yourself to think of the next best way to run your business.
- Make the work better for everyone. Give back to the world as much as you can.
- Entrepreneurs don’t see success as the final destination. Success is a mark of another amazing entrepreneurial journey.
- Always remember the mission and what drives you to start your business. Constantly reflect on who you are and what your culture stands for.
Listening to the stories of our inductees, we received invaluable advice on how we should pursue our goals and inspiration. What’s the next step? Find your team and start your entrepreneurial journeys.