When I walk throught the entrepreneurial community, sometimes I laugh. I am much older than most of you. However, just because I am older doesn't mean I don't stop learning.
There is an old adage, always be closing. That's true when it comes to some things. When you are an entrepreneur and you are in front of potential customers, you should always be closing.
However, sometimes it's good to shift to a different mode. Always be learning.
I learned a lot in 2012. One thing that I truly learned a hard lesson about was that whenever you enter into a negotiation, you have to be prepared to walk away. Money can't get emotional.
That doesn't just go for investors, that goes for entrepreneurs too. When you are at an early stage, don't take money from investors that aren't on the same page as you.
That piece of advice is hard to follow, because the cost and journey to raise capital is so difficult. But, as Yoda might say, "Follow it, you must."
I am so lucky because of some of the people that have entered my life through business or personal connections. When things get tough, you can count on them. I hope you have a network like that-and if you don't build one.
In my earlier days, I was an independent trader. Still today, traders are the smartest people I know.
Chicago is starting to build an entrepreneurial network like that. I agree with Brad Feld when he says investors can't build this network. We can only build connections, build some of the synapses for the information and the people to go through.
Only Entrepreneurs can lead. In 2012, Chicago did some great things. 1871 started. New accelerators and angel groups started. New things began happening that are positive for the community.
However, we are only going to be as great as the entrepreneurs that build the companies. Without them, we are nothing.
In 2013, I look forward to entrepreneurs building depth and vitality to a great community that has a strong base to build off of. It's time. Let's roll.
Related articles- 6 Things That Can Kill Your City's Startup Community (readwrite.com)
- New Angel Group in Chicago-and Nation (pointsandfigures.com)
