Entrepreneur: David Fialkow
Business founded: General Catalyst Partners, National Leisure Group, Alliance Development Group, Retail Growth ATM Systems, Starboard Cruise Services
Entrepreneur David Fialkow has started his share of successful businesses. He talked to students in our entrepreneur elective about his successes and tips for them to follow on their journey.
Start a business with people you know you like, trust, and have fun with: The people sitting around your table right now are most likely to be the most influential people in your life for the simple reason you like them and you trust them. Steve Jobs, Bill Gates. Who did they start with? Their best friends from high school! Mark Zuckerberg? His roommate at Harvard.
Failure is OK: You can’t have the fear of failure. More often than not with entrepreneurs, the business model fails to materializes. It happens — it’s not a personal failure.
Mentors are important for success: How do people learn about business when they have no experience? Mentors. Find people in the community you can learn from.
Don’t overthink things: Do things in real time — instinctively and thoughtfully. If you have an idea, just do it.
Ask for what you want: Don’t be afraid to be candid with people. You don’t ask, you don’t get.
Know who you’re talking to: Before interviewing with someone, know everything about them, connect with them, establish a commonality, and make it possible for them to picture working with YOU, not just your idea. Luck rewards the prepared mind.
More in our guide for young entrepreneurs: