Joe Hadzima on how to win as an entrepreneur

What makes a successful entrepreneur? Who is predisposed to be a winner or loser?

There are definitely winning personality traits, without which you are truly disadvantaged. You must be comfortable in high risk environments. Risk aversion pushes a lot of idea generators away from entrepreneurship. Initially you have to get over the fact that you’re starting something that is most likely going to fail. You then must be able to constantly operate in that high risk environment with ever increasing levels of personal commitment.

Be the most passionate person in the room. Passion for your venture and high energy are extremely important factors and you will get weeded out very quickly without them. With family, friends, former colleagues and prospective investors telling you that you are crazy day in and day out, it takes perseverance far beyond the norm to continue and prove them all wrong.  

Seek out a guide. Most successful first time entrepreneurs recognize the need for excellent mentorship and advisors. If you want to succeed, you would do well to seek out the best mentors that you can find. Entrepreneurship is a full contact sport and playing the game with a seasoned veteran can make all the difference. These few ingredients are absolutely pivotal.

Joe Hadzima is a Managing Director of Main Street Partners, a venture development and technology commercialization firm. He is also President of Main Street Partners’ portfolio company IPVision, Inc., which provides systems and services for the analysis and management of intellectual property. Joe is a Senior Lecturer at the MIT Sloan School of Management, was a founding judge of the MIT $100K Entrepreneurship Competition and was formerly Chairman of the MIT Enterprise Forum. He has been involved with over 130 new ventures over the last 30 years as a venture capitalist, entrepreneur, lawyer and board member. Learn more at IP Vision.