CoreX Legal was honored and excited to be part of the Project 10K Elite experience in Miami. 16 elite investors, entrepreneurs and business leaders co-creating a dozen or more tech companies in just 2 days. The ideas were flying and CoreX Legal has a seat at this table of 10K Elite.
Here are 9 observations Jeff came home with and how CoreX Legal is positioned perfectly to help entrepreneurs find their success.
Over the next 4 weeks, we’ll reveal the 9 observations from Jeff.
Ask the Hard Questions
One of the keys to turning ideas into successful businesses is asking (and answering) better and often more difficult questions. One of the best ideas I heard during Project 10K Elite was this: “What elements of your idea don’t you like and what shifts could you make so that you do like those elements?”
Successful entrepreneurs are willing, to be honest with themselves about their ideas and projects, and then make adjustments and shifts to address their shortcomings. Your legal advisors must be part of these honest conversations.
Be Willing to Pivot
One key to moving from a good idea to a great idea in entrepreneurship is the willingness to ask and answer the challenging questions, as well as the willingness to pivot your ideas when the need arises. CoreX Legal not only helps you see potential stumbling blocks but helps you with ideas to differently navigate them.
Where’s the Pain?
The most successful business ideas, especially in the SaaS space, must address this question: “What’s the painful behavior (for users) that your SaaS solution will replace?” If you haven’t identified the painful behavior, then you haven’t found the right solution. CoreX Legal’s advisors will ask the questions to help you find the right solution.
What’s Your Problem?
Entrepreneurs are often quick (even too quick) to focus on creative solutions before fully and accurately identifying the core problem to be solved. Believe it or not, entrepreneurs often skip the problem step and jump to solutions, resulting in wasted time, money and opportunities. Part of CoreX Legal’s value is offering an experienced eye and perspective to your creation process.
Great Ideas are not always Great Businesses!
Not all “great” ideas are good business ideas, and it’s vital that entrepreneurs have the right people at the table from ideation to imagining, to planning, to creation.
Your team must include legal advisors who bring both legal and entrepreneurial perspective and ideas. CoreX Legal is a law firm built by entrepreneurs for entrepreneurs for just this reason
Surround Yourself with the Right People
If you fill a room full of idea people and entrepreneurs, you might think that you’d be in for trouble because of having too many ideas. But entrepreneurs offer two things that can’t be replicated – an entrepreneur’s perspective and the types of questions that will sharpen your idea, your plan and your execution.
Celebrate Along the Way
When you’re developing your ideas and turning them into successful businesses, don’t forget to celebrate even the small wins and successes. Celebration is part of the fuel for entrepreneurial success.
Trusted Critique is Crucial
Don’t be afraid to let the sparks fly when you’re ideating and planning your entrepreneurial endeavor. The best ideas are sharpened (or appropriately rejected) when the team is willing to ask direct questions, provide honest feedback and point out the blind spots. CoreX Legal’s advisors bring all this and more to your entrepreneurial journey.