Startupping: my Best Decision and Worst Mistake!

Posted by Boris Veldhuijzen van Zanten on Feb 21, 2007 in Business, Innovation, Inspiration, Money, Personal | 4 comments

A few years ago I was introduced to an entrepreneur by Scott Rafer. I introduced myself as a ‘Serial Entrepreneur’ and he replied ‘How nice. I am a Successful Serial Entrepreneur’. I probably had my mouth open because he immediately apologized and told me he didn’t mean it that way but that it was just an important distinction to make. After all, there are millions of entrepreneurs, a lot of serial entrepreneurs but only a few Successful Serial Entrepreneurs.

It was the beginning of my (long distance) friendship with the Successful Serial Entrepreneur Mark Fletcher.

Last week Mark announced a new website titled ‘Startupping‘ to help other entrepreneurs become more successful and he asked me to contribute something. One thing that will happen is that each post I publish here will also be available on Startupping.com on the Entrepreneurs Blogs section. A lot of great entrepreneurs contribute to the site and I am proud to be one of them.

Mark also asked me and the other contributing entrepreneurs to think about our best decision and their worst mistake. So here we go:

Best Decision

Age 15 I decided to drop out of school and set my own course through life. Against the advice of all my teachers and most adults around me (except my parents) I left school to attend the circusschool. In 3 years I learned how ride a 2 meter high unicycle, juggle 7 balls and a lot of other interesting things. At age 17 I wanted to go to art school and cleaned toilets for a year to pay for my art courses so I could apply for the academy. I was accepted and graduated Cum Laude 5 years later. My best decision was to do all these things. It was the best way to prepare for being an Entrepreneur. I learned discipline and perseverance in the circusschool and how to ‘think different’ and use my creativity in art school. No MBA could prepare you better.

Worst Mistake

It was a really bad mistake to hold on to my 600.000 shares in Fortunecity which I received between 1999 and 2001. These shares were worth as much as €19,80 when I first started receiving them (do the math) and dropped all the way to €0,04 by 2003 (please don’t do the math!). I went from poor art student to paper multimillionaire and back again within a very short time.

So why didn’t I sell? Because I trusted my instinct. I trusted my instinct when I left school as a kid. I trusted my instinct when I went to art academy and when I first started my business. I kept going when most people said I was crazy working with that internet stuff and I always knew that one day we would seel our company for millions. And then we did. After that it was very hard for me to ignore my instinct and sell those damn shares.

Sure, lost of people told me I should have sold them. But as an entrepreneur you cultivate your stubordness and learn how to trust your instincts. You will just have to learn that your instincts aren’t correct about everything. That was an expensive lesson….

Conclusion

I have started several successful business and sold two for millions but I still don’t have the guts to introduce myself as a Successful Serial Entrepreneur. That is another thing I will have to learn.

Hopefully it will be a cheaper lesson.