Differences of Newbie and Veteran Entrepreneurs
Updated: Apr 11, 2021
Veterans think about how to execute an idea.
Newbie ask around if an idea is good or worth it.
Veterans can figure out how to execute a bad idea and hustle through
Newbie keeps on strategizing in their head and debate losses. They keep search for a perfect idea.
Veterans use own money to prove someone will buy
Newbies wants to get money for trying an idea
Newbies have broad book knowledge.
Veterans have deep sector knowledge.
Veterans run risks to take opportunity
Newbies are hopeful about a chance.
Veterans design an idea and affiliated business concept based on opportunity.
Newbies came up with a random idea and take chance.
A veteran looks at business landscape from 3000 ft up. They see entire forests. A newbie struggles inside a forest and studies one tree at a time with joy.
Veterans do hard things the hardway which turns out to be high probability.
Newbies try to find a perfect idea in a vacuum or by chance.
Veterans organize to take a bank.
Newbies figure out combinations of lottery ticket numbers to fill in.
Newbies wants to improve and spend little money and pay back investors with operations
Veterans want disrupting big game and use investor money as catalyst, not fuel
To be a veteran is easy. Go ahead and fail. Your first effort will fail, and it is the right way. Go ahead and focus. The first learning is failure. The first success is a failure and an immunization shot.
Newbie think everything is easy.
Veteran knows it is hard, but they have practiced many times and it is now easy for them.
Veterans know good, profitable, growing business is rare. They call that opportunity. They fight to build a profitable relationship for all.
Newbies thinks a company is automatically going to have business and will make him rich somehow. ("I finally decided to setup my company").
Veterans throw off 1000 designer ideas and keep one to focus.
Newbies "came up" with one random idea and does not want to commit. And new random ideas keeps popping into their head. Most are fake ideas or ideas having no relation to their skills and experience.
Veterans keeps shooting.
Newbies keeps imaging shots.
Newbies keeps on looking, only shoot once when "they think" they can not miss. Or they just put up a random reckless shot but never practices.
Newbies struggle and walk. Veterans fight and strive.
Newbies walk aimlessly in a forest, thinking the end may miraculously show up. He expects signs everywhere, but there is none. He meets a tree, and has no idea if he should keep it, or climb it, of avoid it, or turn back, or walk around.
Veteran is doing this a third time, He took a hot air balloon sponsored by investors and heads to the exit.
Newbies want to "follow the rules".
Veterans know why every rule is made.
Ideas, practices, jump, reward
Newbie has one idea created in vacuum, wait forever, and then do a bad business. Veterans practices all the time, wait for the big opportunity and make a good business.
Newbies plays with ideas in their heads, wants to have a perfect idea and think all the time, next practices, and jump recklessly.
Veterans jump casually and practice, and then wait for their turn for the big league ride.
Newbies don't want to miss any idea and keeps evaluating vacuum ideas.
Veterans want to catch one good business.
Newbies can never focus. They are uncomfortable about focus, not sure if the reward is enough.
Veterans found their only pursuit and bore deep comfortably. They know there is reward anywhere.