Nicholas Karnaze was on stage at Chase Basecamp yesterday. He’s running the startup Stubble & ‘Stache. In addition to a brilliant product origin story full of humorous observations, Nicholas also shared some hard-won wisdom from his entrepreneurial journey.
Here are the five biggest things Nicholas has learned firsthand.
1. Find Your Purpose
What is it that will get you up early every day? What is it that will send you to peaks and sustain you in valleys? What will help you keep your focus? According to Nicholas it was finding his purpose that has led to success.
2. Things Will Always Take Longer Than You Think
Don’t underestimate the time it will take to get stuff done. This includes everything from getting product formulation right, distribution, packaging, and developing supplier partnerships.
3. Carefully Vet Your Partners
This is important even if your partners are friends. A business relationship is different than a friendship. Starting a company will test you and your key relationships in ways that you can’t imagine.
4. Clarify Roles & Responsibilities
Once again, this is especially important if they are friends. Agreeing up front about who owns what and how decisions are made can greatly reduce ambiguity and friction down the road.
5. Get your story straight
It’s the thing that people will engage with. It’s the thing that will help you rise above the clutter.
This inspiring talk was from the Veteran’s track. There are more than 70 programs across eight tracks happening this week at Tampa Bay Startup Week. You can follow along on facebook, twitter, instagram,