Posted by: Mark Sorenson | October 28, 2009

More from Greg Warnock

I am taking an entrepreneur class at BYU called “Creating New Ventures.” It is an awesome class. Recently we had a panel of entrepreneurs come to class and speak. There were two current entrepreneurs, two angel investors, and one venture capitalist. The venture capitalist happened to be Greg Warnock, of whom I have talked about in earlier posts. After class I walked Greg to his car and had the chance to have a brief chat with him.

I first thanked him for the inspiration he gave me earlier this year. We talked about my goals to be an entrepreneur and what I was doing about them. He gave me a two pieces of advice I would like to share here. When I told him I wanted to help Imaginal raise money, he told me this, “Don’t waste your time trying to raise money for a company. If you want to get good experience, get in front of customers. Do something where you can have conversations with customers. Maybe something in sales.” I thought this was really good advice. I think what he meant is that as an entrepreneur you solve the problems of your customers, and what better way to be tuned into the kinds of problems that are out there to be solved than to be in a position where you interact directly with the customers themselves. This reassured me of the value of being in sales. Yes, it’s good money, but you are able to interact with customers and hone in on problems they are facing. Sooner or later you may run into a problem that you could solve with a business, or at least change your current business to accomodate these perceived customer needs.

The second piece of advice Greg gave me was this: He said, “You know, I’ve been thinking a lot about this lately. I’m surrounded by hundreds of entrepreneurs every day and most of them are so busy planning and they have their spreadsheets and are crunching numbers, but what they really need to do is go out and do something. I think if you can just go make something happen, the rest will fall in place. Just go out and do something.” Those would have been sobering words for me to hear last year. He was right. Personally I got so caught up in the planning and number crunching that I procrastinated to the point where opportunities passed me by. I’m not saying I’m totally different from that, but now I feel like I am capturing the opportunities that come my way as much as possible.

Every day I am amazed at the opportunities you can find all around you if you only look for them and take action on them. A little effort can go a long way.

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Responses

  1. […] I wrote about the two pieces of advice a seasoned entrepreneur, named Greg Warnock, gave me about how to start a business. The first thing he told me was to get in a position where I could interact with customers. He said […]


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