Last week I had a chance to see my old friend Doug Edge as he presented to Rainmaker’s Incubators. A serial entrepreneur, Doug is one of the two founders of Rainmakers. (The one most people don’t know about.)
In his remarks, he shared the Three “R’s” of Entrepreneurship.
Research-from market surveys to interviews with other business owners, this is a critical first step for every entrepreneur.
Risk-you have to take chances, recognize you may lose your investment, so be sure you understand the risks up front, and be prepared. If you aren’t willing to take the risk, it is unlikely you will reap the rewards.
Reward-When it comes to being an entrepreneur, sometimes money is not the only, or most important reward. What you learn and who you meet along the way are important benefits you will take with you to your next venture if you are a true entrepreneur.