I hate competition. —Marat Safin, tennis champion, Russian politician When entrepreneurs approach me to invest in their companies, I naturally want to know who their competitors are. It’s a basic question that any investor would ask. Some entrepreneurs answer the question thoroughly and confidently. They are not afraid to acknowledge what the competitive landscape looks […]
View Post Blockbuster, Harvard University, Marat Safin, N. Gregory Mankiw, Netflix
Ideas are easy. It’s the execution of ideas that really separates the sheep from the goats. —Sue Grafton, author I hate to rain on your parade, but your idea is not special. There are likely other entrepreneurs or companies with “your” idea, equally inspired to dominate the business world and to make millions. And when your […]
View Post Atlanta, Grand Canyon, Groupon, Harvard University, LinkedIn, Mark Zuckerberg, MSNBC.com, Noam Wasserman, Reid Hoffman, Silicon Valley, Sue Grafton
Risk comes from not knowing what you are doing. —Warren Buffett, businessman, investor, philanthropist. Among the several definitions of an “entrepreneur,” some are pretty good while others are downright terrible. Regardless, a common word among them seems to be “risk,” which is what truly defines an entrepreneur. The following simple definition by Merriam-Webster is one […]
View Post 401(k), Bill Gates, Calculated Risk, College, Failure, Harvard University, Kauffman Foundation, Michael Masterson, Microsoft, Risk, Saratoga Venture Finance, The Great Recession, The Reluctant Entrepreneur, Warren Buffet
I have always been afraid of banks. —Andrew Jackson, seventh president, United States of America. One of the worst things you can do as an entrepreneur is to open a business bank account at a bank where you have a personal bank account. Likewise, it is not a good idea to open a business credit […]
View Post American Express, Andrew Jackson, Banking, Business Credit, CapitalOne, Corporate Law, Credit, Credit Card, Credit Report, Debt Collection, Debt-to-Income Ratio, Discover, Finance, Loans, Overdraft Fees, Personal Finance, Right of Offset, Social Security Number, Tax Identification Number, Veil Piercing
Honesty is for the most part less profitable than dishonesty. —Plato, Greek philosopher If I had listened to my intuition, I could have saved myself some trouble. I would have heeded the many clues that the shoddy owners of the mom-and-pop business gave me. I would have run out of their dubious restaurant as fast […]
View Post Plato
Timid salesmen have skinny kids. —Zig Ziglar, author, motivational speaker Reality hit us like a Mack truck and stopped us dead in our tracks. Although we reached our goal of creating OmniPublisher, one of the first content management systems built specifically for newspapers and other periodicals, we realized that we forgot to include the most […]
View Post Apple, Eduardo Saverin, Facebook, George Cloutier, Goldman Sachs, Mack Truck, Mark Zuckerberg, Netflix, OmniPublisher, Pandora, Steve Jobs, Steve Wozniak, Twitter, Webvan, Zig Ziglar
You don’t pay taxes. They take taxes. —Chris Rock, comedian, actor I was anxious out of my wits as I sat in my chair waiting for the calculations to tabulate. I had dreaded this day ever since the previous January, when I knew I had only three months left until the deadline. On that early […]
View Post Chris Rock, EIN, IRS, Taxes
The most important career choice you’ll make is who you marry. —Sheryl Sandberg, COO, Facebook As I watched my life play out on the big screen in the movie The Social Network, I smiled, reminiscing about my college days when I, too, was an instant campus superstar like Mark Zuckerberg, cofounder of Facebook. It was […]
View Post Kanye West, Mark Zuckerberg, OmniPublisher, P. Diddy, Sheryl Sandberg, The Social Network
Systems are the essential building blocks of every successful business. —Ron Carroll, entrepreneur, business coach As a computer science major in college matriculating with some of the brightest students from around the world, I quickly learned that my computer programming skills were not the most economical. I could get the job done, but not in […]
View Post Henry Ford
I think, team first. It allows me to succeed, it allows my team to succeed. —LeBron James, NBA champion One of the most costly mistakes I have made as an entrepreneur is to rent high-end office space, thinking that it would foster growth through increased productivity and project a more professional image. It did none […]
View Post Buckhead, Prestige, Regus