New Year Resolutions: Become an Entrepreneur

Every December 31st, something gets into our champagne that leads us to believe that this year will be THE year.  We will loose those extra five pounds sitting on our ass that we do our best to ignore by wearing fantastic heels that “elongate the legs” (aka- redistribute the squishy parts more evenly), recommit to our partners by swearing to be more supportive, less selfish and a better listener (men, this means you cannot pretend to listen to us talk about our sisters while watching ESPN- we are on to you.  And ladies, no more online shopping for those perfect shoes while he tells you about his annoying coworker).  Although the above are the standard resolutions,  it seems the most prevalent this year is  “I am finally going to start my own business”. This one I get.  Given the corporate economic struggles over the past 3 years, the reduction of staff and increase in work load without the benefit of increased salary is a common tale.  So yes, depositing one’s future in his own hands is empowering, but it can also be sccaaarry.  Well, let me tell you- get over it!  Go pull your self-confidence out of storage, get to work on defining your unique value proposition and write a killer business plan because God knows you will need it when looking for investors.

In fact, finding money is always one of the biggest challenges facing start up biz owners, especially for the younger entrepreneur who may be strapped with school loans to pay back and parents whose 401K was hit big time and just cannot float them the start up cash necessary.  Well my friends, I came across GigaOM, a Web 2.0 blog that offers news, analysis and opinions on start ups, new technologies and broadband.  Their recent article on “How to Charm a VC into Mentoring You” really caught my attention.  It is a great step- by- step guide  on how to ingratiate yourself to the VC and stand out in the crowded “I need money to start my dream” field.  Make no doubt about it- there is money to be had, but as author Larry Chiang puts it, “Money comes out of a VC when their greed for your startup stock outweighs their fear of investing”.  So simple, yet so true.

So give this article a read and get those entrepreneurial wheels moving! 2011 is the perfect year to take destiny into your own hands.

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