Shulman Rogers
Shulman Rogers, a full service law firm with nearly 100 attorneys, provides corporate services including business planning, mergers and acquisitions, securities, employment, intellectual property, immigration, government contracting, tax, telecommunications, cybersecurity, corporate governance, as well as other areas. In addition, the firm has vast experience in real estate transactions, both commercial and residential closings, leasing, landlord-tenant, commercial development, acquisition, sales and related matters. Our litigators offer extensive experience in complex litigation, and all methods of dispute resolution including mediation and arbitration. Personal legal services include trust and estate planning, family law, real estate settlements, medical malpractice and personal injury.

Startup Our Vets

 

Through the Startup Our Veterans Fellowship, any U.S. veteran or service member who wants to start a technology company can apply to a U.S. Founder Institute chapter for free, and the best overall applicant from Washington DC will be invited to participate in the Founder Institute's step-by-step startup launch program for free as well.


Veterans and active service members possess the work ethic, high character, and strong leadership skills needed to launch meaningful and enduring technology companies. To inspire and enable the military community to build technology companies, the Founder Institute has partnered with Vet-Tech, the nation's leading startup accelerator for military veterans, to offer the "Startup Our Veterans" Fellowship.

Through this Fellowship, any U.S. veteran or service member who wants to start a technology company can apply to a U.S. Founder Institute chapter for free, and the best overall applicant from will be invited to participate in the Founder Institute's step-by-step startup launch program for free as well.

Learn more about the program at FI.co/vets.


Eligibility: In order to be eligible for the Startup Our Veterans Fellowship for the Washington DC Spring 2016 Semester, you must complete your application and admissions test by Saturday, April 30, 2016, using this link.


Grant: The recipient of the Startup Our Veterans Fellowship will be awarded within 5 days after the deadline.


Click here to apply for the Startup Our Veterans Fellowship.


Planning Solutions Group
Planning Solutions Group is a financial planning firm that specializes in developing innovative concepts for wealth creation and preservation. PSG is comprised of 3 partners with over 60 years of combined industry experience, a team of associate planners, and a dedicated support staff which includes two an attorney who provides advanced estate and tax planning solutions, and a Chartered Financial Analyst (CFA) for the development of creative investment strategies.

CONNECTPreneur

 

The CONNECTPreneur Fellowship is awarded to the most extraordinary applicant from the  CONNECTPreneur Community, giving them the opportunity to enroll in the Washington DC Founder Institute for free. The recipient will be recognized as somebody with the utmost potential to become a successful technology entrepreneur.


The Washington DC Founder Institute is excited to partner with an organization that shares our goal of fostering a strong local startup ecosystem: CONNECTPreneur, a quarterly forum of 350+ top IT entrepreneurs and investors in greater Washington DC region. Through the CONNECTPreneur Fellowship, everyone from the CONNECTPreneur community is invited to apply to the Washington DC Founder Institute for free, and the best overall applicant from the community will receive a Fellowship to participate in the program for free as well ($1,650 value).


Eligibility: In order to be eligible for the CONNECTPreneur Fellowship for the Washington DC Spring 2016 Semester, you must complete your application and admissions test by April 3, 2016, using this link.


Grant: The recipient of the CONNECTPreneur Fellowship will be awarded within 5 days after the deadline.


Click here to apply for the CONNECTPreneur Fellowship.


What Makes a Successful Entrepreneur? Genetics, Circumstance, and Perseverance

Posted by Adeo Ressi on 2015-04-01

Recently, I was asked, "what does it take to be a successful entrepreneur?".

In my opinion, successful entrepreneurship is a combination of three things:

                1. Genetics
                2. Circumstance
                3. Perseverance

Let's go through all three.                                                                                                                                                     

1. Genetics

The Founder Institute has completed social science testing on over ten thousand prospective entrepreneurs, measuring things like "Big 5 Personality Traits", Fluid Intelligence, IQ,  and more. The Institute then watched who became successful, and correlated back the measured traits that best predicted success, in a scientific process.

The traits that best predict entrepreneurial success are genetic, such as Fluid Intelligence and Openness. BUT, just because you have traits that MAY make you successful as an entrepreneur, does not mean that you WILL be successful. Similarly, just because you are tall does not mean that you are good basketball player.

In other words, you need the raw materials, but you also need other things.

 

2. Circumstance 

Being in the proverbial "right place at the right time" matters a lot towards your ultimate success as an entrepreneur. 

Timing is everything (..almost).

For example, Michael Diamant started iClips, a site exactly like YouTube, a few years before YouTube launched. iClips was a truly well-executed business, but the necessary bandwidth, camera penetration, and streaming technology adoption did not yet exist for it to gain massive traction. He was simply too early for the market.

Circumstances are not all market-specific, either. You can have perfect market-timing, but your personal circumstances might not be optimal. For example, you could have the best idea and timing while you are a high school student, and start to execute on that idea to the the best of your ability - but then a veteran entrepreneur does the same business with millions in venture capital and captures the whole market. 

Some circumstances are in your control, and some are simply outside of your control, but most successful entrepreneurs will concede that some of their success is attributable to circumstance. 

 

3. Perservance

You only fail in your business when you actually give up, so, in fact, no business would ever fail if people persevered.

I know the Founders of some of the most successful technology companies in the world, and there almost always were (and still are) times when the Founders simply refused to give up despite unbelievable problems, stress, and negative signaling. 

Entrepreneurship is like eating glass and walking on hot coals at the same time" - Elon Musk at the Founder Showcase

An entrepreneur faces all of the debilitating problems of their own life, coupled with all of the personal problems of their team, as well as hostile operating environments, limited capital, stretched resources, no time, regulatory burdens, changing technology... the list is endless.

The loneliness and darkness of entrepreneurship is not discussed very often, but it is very, very real.

Those that persevere succeed. Those that do not, do not.

This fact is why I created the Founder Institute, to create a teamwork-oriented environment to help entrepreneurs persevere, and the Founder Lab, to show entrepreneurs the best practices for building an enduring startup in Silicon Valley. 

 

* A Note on Ideas

You will notice that I have not mentioned your idea as important to success as an entrepreneur. This is intentional.

I am not saying the ideas are worthless, because they are not. And, there are definitely ways to help you determine if a startup idea is good or bad. But, the key operator in my last sentence is "help". Nobody can ever know for sure, and at best you are making an educated guess. 

We see "great ideas" flop all the time, while "bad ideas" become worth billions. Google was a "bad idea": it was another search engine at a time when everyone thought search engines were dead. Ebay was another "bad idea": they asked you to send used merchandise through the mail to people that you met online, and mail a $0.23 commission check to eBay (when stamps cost $0.25). These "bad ideas" have a combined market cap of $440 billion today. 

In the end, genetics, circumstance, and perseverance are much more important for entrepreneurs than ideas. 



Like this article?

 

 

 (formulas photo from Shutterstock)

What Makes a Successful Entrepreneur? Genetics, Circumstance, and Perseverance

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