Ideation To IPOs = <1%ers
Very few of us entrepreneurs can say, or even validate, we have built anything from scratch successfully. There are even less of us that can say we’ve raised venture funding successfully (I use successfully loosely). If we researched the number of entrepreneurs that have built something from scratch and successfully raised venture funding, we would be talking about the 2%ers – 3%ers of the entrepreneur population.
If we were to analyze the number of entrepreneurs that have gone beyond; the entrepreneurs that have successfully started from scratch, successfully raised venture funding AND successful had an exit, we would be talking about the 1%ers.
According to the Kaufman Index of Entrepreneurial Activity (KIEA), there are 20 million non-employer entrepreneurial based businesses in the U.S. So when we think about the 1%ers, we are talking about an extremely small group of successful entrepreneurs that have had break away success.
One of these 1%ers is Jack Dorsey, the founder of Square and co-founder of Twitter. Unfortunately, when we look at Jack's success today we are influenced by the cynical overtone of the media and we tend to discount Jack's achievements as an entrepreneur.
Being an entrepreneur myself, I know how difficult it is to build a successful business from scratch and raise venture funding. However, the fact that both of Jack's companies went from idea to successfully raising over $2 billion in private capital (Pre-IPO) and exceeding $20 billion in market cap should deserve a standing ovation.
This blog is about Entrepreneur Intelligence and Jack Dorsey is a prime example of an Intelligent Entrepreneur that overcame the odds to achieve his passions.
Success is a mindset, don’t let anyone tell you differently. The recipe to achieve your goal is simple, but it requires a commitment that most won't follow. The formula can be distilled down to the following:
Burning Desire + Faith + Action Plan = Success
If you don’t make this equation part of your entrepreneurial DNA, you will never achieve the success you deserve. Always remember that quiters never win and winners never quit!