Kevin Sheehan, Renowned Cruise Line Ceo Shares His Advice For Young Entrepreneurs

So you want to start a business, how do you go about it? They say most entrepreneurs fail. It’s true that they do and there are many reasons for it. However, we can attribute many of those reasons to a lack of knowledge that most entrepreneurs have when they make their business decisions. We took the time to speak with Kevin Sheehan, an industry leading CEO in the cruise line business and asked him about his advice for up and coming entrepreneurs. Here’s what he had to say.

 

Don’t be a Copy Cat

 

One of the main things that stand out about this country’s rich history is the oil boom of the late 1800s – early 1900s, everyone was after oil, and sure, we got Rockefeller’s Standard Oil and a few others, but while he was a very successful pioneer, many many other people lost a lot of money trying to pursue the oil business. The very same thing hapes time and time again in different industries. Think of the housing crises in the 80’s and the 2000’s, and the 2001 Dot-com bubble. Not all that glitters is gold. If you’re going to be a successful entrepreneur, stop being a sheep and abandon the herd.

 

Ideas are cheap, execution is key

 

Businesses like Amazon exist only because they were the first to market. If you tried to do that today you will fail because you have this giant to compete against, as well as because you aren’t the only one with that idea. Millions of people are desperately trying to do the same with their businesses. Now if you go into a niche that is hard to get into, like aerospace, but it doesn’t have to be that complex, you will face less competition. That doesn’t automatically mean you will succeed, though, you have to do it right. In other words, ideas a cheap, execution is key. The other thing is you don’t have to have a completely fresh idea, you just have to address a particular need. I’m sure plenty of developers who work on hospital software would rather work on videogame design if it paid the same and was as stable…but one market is saturated and requires a lot of innovation to break through and the other is more straight-forward (though not without its own unique challenges), guess which is which? So that’s my advice.

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