Originally published in June 2013 of the Business Horizon Quarterly by the U.S. Chamber of Commerce Foundation, Bradshaw’s post is updated to reflect additional thoughts and experiences in the past one-and-a-half years. The Millennial entrepreneur survival guide is a culmination of lessons she’s learned throughout her experiences at Made by Many, but also through her many more experiences having been on the founding teams of three companies by the age of 30 – Bradshaw Vineyards, creative agency JESS3, and now-defunct startup Guide. According to Bradshaw, entrepreneurship is difficult, but it’s not impossible if one has the capacity for and the ability to exercise resilience. But in order to improve your chances of survival as a Millennial entrepreneur, you need more than just resilience. For Bradshaw, there are 7 fundamental practices you have to exercise if you want to make it. Per “A Survival Guide for the Millennial Entrepreneur”, these 7 fundamental elements include:
1. Master your craft.
In order to create the best company and to attract the best employees, you need to master your craft – to be one of the best at what you’re doing or at the business in which you’re building your company.
2. Develop a plan and adjust as needed, but make sure you’re following a north star.
Pretty straight-forward. If you don’t want to eff up your business in the long-run, then make sure you have a plan laid out ahead of time.
3. Find the right team members and partners.
While you may have founded the company, you need to surround yourself with people who are equally passionate about your product and your goals, and are qualified to do the work to get there.
4. Treat everyone you encounter along the way with civility, dignity, and respect.
Basically: don’t be a dick. Follow the old adage “treat others the same way you want them to treat you.”
5. Be ready to be uncomfortable and spread thin, but not all the time.
While implicit in the role of entrepreneur is to involve yourself all aspects of the company, you need to step back every now and then and simply take a breath. Your company is important, but so is your health.
6. Take notes at all times and make every meeting actionable.
Don’t pretend to know everything or to pretend that you have a perfect memory. Make sure that you write everything down. Additionally, don’t waste meeting time on pointless conversation – be as productive as possible.
7. Learn the art of explanation and persuasion in written, visual, and verbal mediums (or “media” for the Latin-conscious). And know when to use either (or both).
Bradshaw suggests that you brush up on your communication skills – both written and spoken. Doing so could increase your chances of surviving. To read the more comprehensive post by Leslie Bradshaw, read “A Survival Guide for the Millennial Entrepreneur” on Medium.
