NEWH - August 2006 - (Page 14)

the entrepreneurs 10 commandments by Karlin Sloan Know Thy Limitations “The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.” - One big challenge for all of us who choose to break out on our own and start our own venture is to remember just how human we really are. No, you can’t work until 3am every night and expect your work to come out well. Remember, just because you CAN doesn’t mean you SHOULD. Think about just how much you can do, and don’t try to do more. The big idea here – to make sure you don’t burn out before your business has a chance to take on a life of it’s own. Nolan Bushnell, founder of Atari and Chuck E. Cheese’s Play to Thy Strengths 1. Know Thy Limitations Ah, yes. As well as remembering our limitations, we should remember to spend 90% of our time doing what we are the very best at doing. When you’re an entrepreneur, much of your time may be spent filling multiple roles, and running full steam ahead on things you may not be 2. Play to Thy Strengths 3. Bring In Help When Possible 4. …And Thine Help Must be Good Help 5. Thou Shalt Leave Work Every Day 6. Thou Shalt Prioritize 7. To Thy Customer, Pay Attention 8. Get Thee to a Coach 9. Bootstrap Thyself 10. Thou Shalt Assume the Best 14 that great at. While this is par for the course, remember that you’re in your business because you’re good at something. Do that, and get other people to fill in where you’re least valuable. Bring In Help When Possible The best decision I ever made as an entrepreneur was to spend the money and get some high-quality help. A good lawyer, a great accountant, administrative support, and folks to do what I’m not an expert at. It takes me 20 minutes to file a piece of paper that should take 20 seconds to put away…why not hire an admin to help, and spend my time doing what I’m good at – talking to my clients? …And Thine Help Must be Good Help Oh, my…do I have stories about this one, not just from my own experi-

Table of Contents for the Digital Edition of NEWH - August 2006

NEWH - August 2006
Letter From the President
Upfront
Contents
Hospitality News
In the Community
Form and Function – Technology That Truly Enhances Design
The Entrepreneurs 10 Commandments
The Power of Design: Good Design = Good Business
Katrina Relief Effort
Technology Enables Design
Technology Can Take You to a New Level
88th Annual NeoCon World’s Trade Fair
G2E Institute and Red Rocks Casino Resort and Spa
New Beginnings
Los Angeles Scholarship Winners
HD 2006 Expo Recap
Washington DC Chapter Takes Up the Torch for School From the Heart
Contributors
Coming Events

NEWH - August 2006