In today’s episode of The Startup Chat, Steli and Hiten talk about startup handicaps.
According to Steli, a startup handicap is anything that you believe gives you a disadvantage in succeeding with your startup or as an entrepreneur. And this is something that a lot of founders struggle with and prevents them from being successful with their business.
Tune in to this week’s episode to hear Steli and Hiten thoughts on what a startup handicap is, why it shouldn’t hold you back and how to overcome it.
Time Stamped Show Notes:
00:28 The meaning of startup handicaps.
01:23 Some examples of startup handicaps.
02:58 Why having a handicap is a mindset problem.
04:20 A way to overcome your handicap.
06:05 How having a handicap is something most people are not conscious of.
06:53 Why as a manager, your number one job is to make sure that the people you’re working with are unblocked.
07:20 Something Steli hates about the whole idea of having a handicap.
08:55 How having this kind of mindset can be detrimental.
11:20 How being an entrepreneur means pushing through handicaps.
11:57 Why you should be aware of what may be holding you back.
3 Key Points:
A startup handicap is anything that you believe gives you a disadvantage in succeeding with your startup or as an entrepreneur.
A lot of founders have limiting beliefs.
A lot of people who overcame their handicap did so because they believed it didn’t matter.
Steli Efti: Hey everybody this is Steli Efti.
Hiten Shah: And this is Hiten Shah. Today on the Startup Chat we're going to talk about what we call startup handicaps. Steli, what does that mean?
Steli Efti: Well I would say anything that you would attach to yourself or your startup or team that you think makes it harder for you and your team to succeed or you and startup to succeed than your average competition or the average other person out there. So things that could fall in that category, you're a foreigner or team of foreigners in a country, you have a strong accent, you don't speak the language fluently. You're broke, you don't have money, you're sick. You don't have the amount of energy, and health, and time. You don't have as much time, it's just a side gig or whatever else your life situation is. You are unknown and don't have a hoe to your experience. You're too young, you're too old. Anything that you would believe gives you a disadvantage in succeeding with your startup or as an entrepreneur.
Hiten Shah: All right, I like that. One that I'm going to throw out that might be a little offshoot is I think a lot of people and founders have limiting beliefs.
Steli Efti: Preach.
Hiten Shah: One simple one-
Steli Efti: Preach.
Hiten Shah: Yeah. One simple one is I need to raise money in order to create a company. I think that's the one I hear more often than I feel comfortable hearing when there's so many self-funded and some would call them boot strap companies out there that didn't raise any money and are massive. It's not any different than raising money in a lot of ways, although people believe it is. One other limiting belief I will say is that you need experience. That's probably one of the biggest ones that prevents people from doing things, whether it's starting in the first place or when they're already there. For example, I have a company, this is a scenario, I have a company is it's a B2B and I need to do sales but I've never done it before so I should go hire a salesperson because I have no experience. Well have you listened to Steli's videos? Have you watched them? Have you seen him talk? Have you read his blog post because if you have then you wo...
Key points in this episode
In this episode
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