If you were to think of an entrepreneur’s qualities as tools in a builder’s toolbox, flexibility would likely be the level; just as a good builder needs a level to adjust measurements and designs, every serious entrepreneur needs flexibility to adapt his or her business. Cornell Environmental and Sustainability Studies student Sam Kramer (’18) recognizes this; in fact, he has lived it through his renewable energy investment company, InvestMend. From an online marketplace highlighting renewable energy investments, InvestMend has evolved to focus on more personal intereactions with investors. For more on Sam and InvestMend, click below:
No entrepreneur starts with her final idea. In fact, often an entrepreneur needs to change her business in dramatic ways throughout the startup process – this could involve changing a product, service, business model, or the plan for growth. These changes are often prompted through customer discovery, and they are called pivots.
Starting a company takes more than just time and money, it is an emotional investment. The emotional side of founding a company is essential to staying driven, but it also makes changing the idea or letting it go difficult. Sometimes, changing a business idea is necessary for success.