10 Tips For Entrepreneurs From Tamatem’s Founder
Smart entrepreneurs are those who learn from their own mistakes so as to avoid them in the future. But the wisest entrepreneurs are those who save time, money, and effort by going the extra mile to learn from others’ mistakes.
Tamatem Games founder and CEO, Hussam Hammo, embodies one of the region’s most prominent success stories. As a serial entrepreneur who has built one successful venture after the other, Hussam’s advice rings true with pretty much everyone.
Today, as captain of the Tamatem Games ship, Hussam Hammo leads a team of many talented individuals with entrepreneurial aspirations. His stature as founder and CEO of the region’s top mobile games publisher places him at the forefront of an industry that’s flooded with innovation, tech, and new ventures. However, his journey as an entrepreneur has resulted in many learning experiences along the way.
As such, here are Hussam’s top tips for entrepreneurs of all ages and industries…
Start with small projects that can be taken from idea to execution fast so that you get your foot in the door and jump into the market. Once you’ve got an idea nailed down, test and launch it fast then adjust later, and learn from your mistakes along the way.
Don’t waste time finding your passion
There’s a widely-spread infatuation with “finding your passion” and “waiting for a calling” that, in many cases, turns into a limitation. Start with something you know and enjoy, even if it’s not your end-game. Don’t let the obsession with “finding your passion” stand in the way of getting your entrepreneurial journey started – you’ll find it along the way.
Take calculated risks
Take this as a rule of thumb that any entrepreneur must live by: there’s no reward without risk. This is not to say that you should blindly jump into the riskiest opportunity that comes your way, but just that entrepreneurship is doused with risky decisions – that’s why it isn’t for the faint of heart. Get comfortable with weighing your options, calculating risks, and making decisions based on what you’re willing to have at stake.
Manage your time or it’ll manage you
Make a habit of mindfully managing your time early on into your entrepreneurial journey. The sooner you know the value of your time, the faster you’ll adopt tactics that’ll help you manage it efficiently. There are loads of helpful time-saving smart tools that are designed to enable you to get the most out of your day.
Focus on what works
As you move through the motions of building your own company, don’t fall prey to the trap of always pursuing the next “best” thing. Many entrepreneurs make the mistake of constantly adding new features, services or products to their business that they miss viable opportunities with what already works. Take time to pause and assess what is already working and what is already driving revenue, and give it the attention it needs.
Adapt quickly and be agile
Simply put, there will always be some sort of setback. Whatever it may be, train yourself to get back up and dust yourself off. Assess what needs to be done and what changes need to be made to avoid the same issue occurring again, and implement it fast. Practice agility; let obstacles and changes challenge you to keep moving forward instead of crippling you.
Know your skills and know your shortcomings
Don’t be ashamed to seek advice and help where needed. You will probably be on a tight budget at first, so hiring a specialist may not be the most viable option. That said, do not refrain from asking friends, peers, and mentors for advice or opinions on things you may not know enough about. Be confident enough to be vulnerable about what you don’t know, but choose wisely who you seek advice or help from.
Don’t rely on funding from the beginning
While the idea of a successful entrepreneurship story may be synonymous with investment rounds and acquisitions, don’t let that be your one and only measure. Prove that your business is profitable on its own before rushing into seeking funding. Chances are, investors will be more interested in financing a business that is proven viable rather than taking a shot in the dark, so just focus on increasing revenue on your own.
Once you start hiring, surround yourself with people who are smarter than you
Never let your ego be threatened by people who are more skilled, talented, and knowledgeable than you are. A company’s biggest asset is its people; think of your business as a compound of all the human talent it has rather than a competition of individuals. Once you’re big enough to start hiring, always look for people who bring things to the table that aren’t already there.
Know your goals and keep going
Persistence beats talent any day. If you get up and show up every single day for long enough then you’re more likely to achieve your goals than someone who just has talent. Know where you’re headed and keep moving towards it no matter what; the most successful entrepreneurs don’t succumb to the hardships of persistence.