The path to entrepreneurial success is far from paved in gold. Rather, it’s lined with bumps, turns and even dead ends. Still, entrepreneurship has hit a record high in the U.S. as more people than ever before venture down the road less traveled.
Prominent startup CEO George Bell learned far more from his entrepreneurial journey than he could have by staying on the straight and narrow. I recently chatted with Bell and he recounted the valuable business experience and insight he gained by going off the beaten path.
Bell’s rise to entrepreneurial success was less than traditional. He began his career as an acclaimed adventure documentary writer and producer, and then moved into the corporate world where he climbed the ranks at Times Mirror Magazines. Still, his passion was startups: He served as CEO for Excite, Excite@Home, UPromise, and Jumptap. He then transitioned to General Catalyst, a venture capital and growth equity firm that manages over $1.7B in assets. Having just sold Jumptap to Millennial Media for $200 million, Bell’s exciting entrepreneurial journey continues.
The many lessons Bell learned throughout his career are not only inspiring, they’re downright essential for every budding entrepreneur. Here are five lessons you can learn from him:
1. “You have to adjust on the fly.”
You have to remain resilient throughout all of the “unexpecteds” that come with this winding startup path. You must be willing to be flexible and resort to alternative plans when the situation calls for it.
When Bell began as an adventure documentary writer and producer, he would often pitch an idea or prepare for filming only to have other circumstances such as weather or budget pull the rug from underneath him. He learned early in his career that he had to be flexible and think on his feet.
2. “We all need someone to give us a chance.”
As an entrepreneur, you must never be afraid to throw your hat in the ring and seek out opportunities that may be a bit of a stretch. Ask yourself, “Why not me?” You never know who has the ability to open the door for a whole new opportunity.
When Bell wanted to break into the corporate world, he approached Times Mirror Magazines for a job. He knew he was underqualified, but this didn’t stop him from trying. Times Mirror Magazines ultimately took a chance, giving him the break he needed. He then climbed the ranks, eventually founding the Outdoor Life Network (now NBC Sports Network).
3. “Taking risks increases your value.”
Being an entrepreneur requires you to stretch your limits, but even in failure, the experience and connections you form along the way are the most valuable piece.
When Bell chose to leave his stable job with Times Mirror Magazines and move across the country to work for the startup Excite, it was a challenging and risky decision. If the startup failed, he knew it wouldn’t be hard to get back into a corporate job. Plus, the experience he gained would only add to his skill set.
4. “Go after what gets you excited.”
You should never make the mistake of letting money drive your career choices. Entrepreneurship is about chasing your passion, not a paycheck.
Based on his own journey, Bell stresses that you should seek out opportunities foremost because of passion, conviction, and excitement. If your main concern is money, you will never outlast the ups and downs of entrepreneurship.
5. “The best entrepreneurs are both optimists and realists.”
It takes a double mindset to be a successful entrepreneur. You have to set your expectations overly high to be inspired to push further. Still, you must be realistic about money and finances. Bell advises that entrepreneurs should be optimistic with their ability to reach their goals, but realistic with expenses.
Entrepreneurship is not for the timid or uncertain. The lessons George Bell learned through his less-than-traditional career should help cast a light on this unbeaten path and guide you along your own entrepreneurial journey.
Skiddy von Stade
Bio: Skiddy von Stade is the founder and CEO of OneWire, the leading career site for finance professionals. Skiddy is also the host of Open Door – an exclusive interview series with influential leaders across the financial services sector and beyond.
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