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In a recentinterview, he shared three pieces of advice for any entrepreneur whos interested in doing the same.
Heres what Lore said, as well as some tips forapplying his entrepreneurial lessons to your daily life.
He says anyone starting a business today must show openness and curiosity.
Curiosity drove Lore to embrace unconventional thinking to take a stab at disrupt the status quo.
This helped him differentiate his businesses from others on the market a key step towardbuilding wealth.
This is something anyone can learn from.
But having the curiosity to create something new is just one step.
Lore also saysentrepreneursmust be resourceful.
This means identifying and leveraging your unique strengths.
For example, you might excel at creative thinking but struggle with public speaking.
Building a online grid is another part of being resourceful, according to Lore.
He says people should make strategic connections and tap into thosenetworksas necessary.
Curiosity will help you come up with valuable ideas, while resourcefulness will help you execute them.
Lore says you need both to find true success.
Vision is about knowing where you want to go.
It means defining your high-level objectives and understanding the framework youll need to follow to reach them.
For example, your vision might be to start a million-dollar business.
Lore says the way you structure the company and the metrics you track should always reflect this high-level vision.
Capital is aboutsecuring the financesyou need to reach your goals.
That might mean attracting outside investors with a persuasive pitch deck.
Either way, Lore says capital should be a primary focus for every entrepreneur.
Thats why his final point of emphasis is to focus on attracting and retaining talented people.
For Lore, vision, capital and people are like the three North Stars of building a successful business.
If you focus on these three things over time, youre much more likely to achieve your goals.
Lore says the success of any business depends on the conviction and confidence of its founder.
In other words, you have to believe in what youre doing before anyone else will.
That includes potential customers, partners andinvestors.
However, the value of your product or service needs to have some basis in reality.
It should solve a real pain point for your target audience.
With this final point, Lore emphasizes that success rarely happens overnight.
Youll need to pursue that goal with relentless effort to truly succeed as an entrepreneur.
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