Canadian Youth Business Foundation (CYBF) hosted the Young Entrepreneur Summit from June 20 through June 22 to coincide with the gathering of world leaders to follow. With the belief that it will be small businesses that will lead to economic recovery, many gathered to discuss the challenges and opportunities of entrepreneurship around the world. From Wesley Hall of Kingsdale to Tom Jenkins of OpenText, entrepreneurs who started most ventures in their basement talked about what it takes to grow.
From panels to keynotes, here is what we thought were the best takeaways for entrepreneurs of all ages.
- Remember that a bad idea, regardless of how hard you work will still be a bad idea. Test it to make sure it is good idea.
- Having stability at home is vital so you have the focus necessary to run a good business.
- Entrepreneur values: Vision. Delegation. Respect shareholders. Positive mental attitude. Selling
- Difference between winners and losers is the time of recovery
- For an entrepreneur, failure is another step in the journey
- Business is not something you do to make a living, it’s something you do to make a life
- As CEO, you have to imagine yourself sitting on an ice cream cone in July – you have to be able to make decision fast.
- Entrepreneurs are optimists that fail. They learn from it, pick themselves up and go at it again.
- Money comes and goes, but mentors are where the real value is.
- Don’t let the ideas stay in your head. Launch.