Starting the Journey: Entrepreneur Mindset - Boyd Stough
1 MILLION CUPS NORTHEAST GEORGIA SERIES
Entrepreneurship isn’t about having all the answers before you begin. It’s about taking the first step, learning as you go, and refusing to give up on a vision that matters.
That’s the philosophy of Boyd Stough, J.D., entrepreneur, attorney, and passionate advocate for the Northeast Georgia entrepreneurial community through 1 Million Cups.
For Boyd, entrepreneurship is about building something meaningful on your own terms while serving others with excellence.
YOU DON’T NEED ALL THE ANSWERS
One of the biggest misconceptions about starting a business is believing you must know exactly what you’re doing before you begin.
According to Boyd, all you need is clarity about what you’re trying to accomplish, who you’re trying to accomplish it for, and a wholehearted commitment to seeing it through.
The how becomes evident when you’re fully committed to the what.
FIND ONE CUSTOMER. THEN ANOTHER.
Boyd’s advice for getting started is surprisingly simple: Find one customer.
Serve them exceptionally well. Deliver more value than they expect. Then get just a few more.
Focus on incremental investments of time, capital, and resources. A pattern will emerge that shows what works, what doesn’t, and what it takes to scale.
BUSINESS PLANS AREN’T SET IN STONE
Business plans can be a helpful thought experiment, but they’re not the roadmap.
Boyd has seen that entrepreneurs who spend the most time on a plan often have the least flexibility.
No business goes exactly according to plan. Stay flexible. Learn quickly. Be ready to pivot.
RELATIONSHIPS ARE THE REAL CURRENCY
There’s an old saying: “Your network is your net worth.” Boyd believes it’s absolutely true.
Most of what you need—and need to know—is on the other side of relationships you haven’t built yet.
Commit to being the best person you can be to as many people as you can. The universe has a much easier time conspiring in your favor.
FEAR NEVER REALLY GOES AWAY
You can’t eliminate fear, self-doubt, or the possibility of failure.
Instead of trying to fight those feelings, Boyd recommends showing up every day and giving everything and everyone your best.
In time, it gets easier because you get better. Competence and confidence are positively correlated.
LEARN FROM SETBACKS
You can’t have an adventure without adversity. Boyd’s greatest lesson has been learning to see the silver lining in every challenge. Embrace obstacles as opportunities to learn, improve, and grow.
SURROUND YOURSELF WITH THE RIGHT PEOPLE
Seek advice, but don’t become a slave to it.
Your journey is your own. The successful version of yourself will look very different from the person who is just getting started.
Be willing to evolve—and let go of habits and people that no longer align with who you’re becoming.
HABITS OF SUCCESSFUL ENTREPRENEURS
Successful entrepreneurs often share common traits:
• They treat themselves well.
• They treat others well.
• They give freely and happily.
• They are undeterred by setbacks.
• They are driven by a compelling vision.
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