Advice for entrepreneurs
In this video about advice for entrepreneurs, Xavier Buck shares his views on the following topics:
- qualities of an entrepreneur
- entrepreneur vs manager
- how to deal with challenges
Xavier Buck is the CEO of the DCL Group and has founded several companies, including EuroDNS, voipGATE, DomainTools and eBrandServices, since 2003. Find him on eurodns.com.
Subtitles are available in english and french.
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Qualities of an entrepreneur
I believe that it’s of course the classic answers of a person: “An entrepreneur needs to be passionate and persevering”. That’s a classical one but I have one that is more specific to myself: I believe an entrepreneur must be a very good salesperson. Most of it, and it’s very important in my opinion. Why? Because you must be able to sell your projects to your future customers, you need to be able to sell it to your partners that you want to convince to join you at the beginning, you must be able to sell your projects to your employees, to be motivated, you need to be able to sell your projects to the banker, to believe in you and follow you, open bank accounts and if possible give you some loans, and in the end at the exit you must be able to sell it to a buyer! So, all the way you must be a very good salesperson. You can outsource the part of sales to your team, to the sales teams, that will sell the service outside. But a lot of things, especially at the beginning, to convince your partners and investors and at the end selling it to a buyer. will all be around you.
Entrepreneur vs manager
Actually, an entrepreneur, in my opinion, is an entrepreneur and should stay entrepreneur, and the manager of a company that is growing should be a manager. And you shouldn’t try as entrepreneur to become the manager of a large company, you should actually always focus on the vision and where you want to go. And as entrepreneur you should then learn to delegate and to give tasks to your manager, who runs the daily operations for you. That was a challenge for me to learn, as the company was growing, to accept to delegate and accept that things are done differently than you would do it and to be able to grow because otherwise you’re not able to grow, you will be stuck in the daily operations of your business and you are not liberated on continuing your vision and see how you can make your vision and company grow internationally or through services or through additional innovation.
How to deal with challenges
Slice them into small pieces. Some people see all these problems as a big mountain that they cannot cross. and they are faced with that big mountain. But actually, if you start looking at your problems, they are all individual and small and they can be faced individually. So, you need to cut them down and see them as small ones that your cross one after the other. It worked every time so far so let’s continue.