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How Great Entrepreneurs Think

In this week’s Crush It Report, we will explore a question asked by people for centuries, possibly since the beginning of time: How do great entrepreneurs think?

We hear a ton about what the most successful entrepreneurs do, but before the doing comes the thinking. Although research on entrepreneurship is still fairly recent, there are a lot of people trying to figure out “What is entrepreneurship?”

What Defines an Entrepreneur?

Are there certain entrepreneurial “qualities” that set an entrepreneur apart from the rest? Is it based on luck? Knowing when to act on an opportunity? Taking a risk?

The answer is, no one really knows. Studies have been done coming to one conclusion, and other studies counter them and come to another conclusion. However, a recent study published in Inc. Magazine garners some groundbreaking insights into the thought processes of some of the most successful entrepreneurs. How did the researcher, Saras Sarasvathy, do this? She actually listened in on entrepreneurs as they talked through a hypothetical business scenario presented to them.

Master Entrepreneurs

She found that “master entrepreneurs rely on […] effectual reasoning. Brilliant improvisers, the entrepreneurs don’t start out with concrete goals. Instead, they constantly assess how to use their personal strengths and whatever resources they have at hand to develop goals on the fly, while creatively reacting to contingencies.”

It’s all about making something out of nothing.

When you think about it, it makes sense. Having TOO many resources actually confines you. It sets you in a one-track mind. But when you have limited resources, you are forced to rely on personal strengths and past experiences to reach your goals. That is where creativity reigns supreme.

The lesson? You don’t necessarily have to go into a business venture with concrete goals. Rely on what you do best, and don’t hesitate to hone your creativity. Go out there and CRUSH IT!

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Start-Up Secrets: Tips from America’s Coolest Young Entrepeneurs

Inc. Magazine gathered the Top 15 tips some of the brightest, most successful young entrepreneurs have discovered from their experiences.

Top 15 Tips to Success

1. Stick with it

2. Simplify your mission

3. Ditch your safety net

4. Exceed expectations

5. Do MORE with LESS

6. Don’t go it alone

7. Be nimble

8. Have a plan for actually making money

9. Do your homework

10. Be prepared

11. Stay genuine

12. Don’t manage angry

13. Don’t be afraid

14. You can’t mask mediocrity

15. Do what you LOVE

This rings true for our healthy vending business. We love what we do, and that’s why we are committed to making healthy snacks and drinks more available to everyone. As our motto states, Passion + Purpose + Philanthropy = Success. By having a passion for healthy living, a purpose of making healthy options accessible, and a philanthropic mission to donate 10% of our proceeds to campaigns that help eradicate diabetes and obesity, we truly do what we love and love what we do.

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How to Read Food Labels: The Difference Between “Healthy” Foods and Health Foods

Check out this interesting clip on how to determine the ACTUAL nutrition facts on food labels.

skelly

Biomedical Engineer who earned his degree from The Johns Hopkins University & Columbia University. Named one of Forbes’ Top 30 Under 30 in 2013. Co-Founded America’s first Pure Play healthy vending company in 2003.
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