If you're about to take a risk--one that comes from within, one that expresses your true nature, that brings up fear after fear after fear--you know what to do. One: do the work, create the value. Two: draw the people that encourage you closer. They're the only ones that matter.
I think a great entrepreneur is learning every day. An entrepreneur is somebody that doesn’t take no for an answer — they’re going to figure something out. They also take responsibility. They don’t blame anybody else. And they’re dreamers in one sense but they’re also realistic and they take affordable steps when they can.
The purpose of diversification is so that when one investment goes down or is not doing well, you are insulated from the result because of the others you have in place. In a job or career, most of us are trying to specialize so much so that we've ended up with all of our eggs in the same basket. That's not managing risk at all. That's putting yourself at risk." - Chris Lutz
Business is a game like baseball or golf or anything else. I enjoy being a student of the game, and reading, and learning, and going to conferences, whether it’s building custom homes or selling or servicing medical equipment. A good entrepreneur can be a good entrepreneur in any industry because if you’re a good student of the game, the rules and the lessons are very much the same. And that’s the fun part about it.
Each year about 600,000 start-ups are launched. Less than 0.5 percent attract VC. Of Inc. magazine's annual list of the 500 fastest growing companies in the United States assessed over a decade (1997–2007), less than 20 percent of companies were venture backed” -“62.4 percent of VC investments were completely lost while 3.1 percent of the investments accounted for 53 percent of the profits for roughly 600 investments
Mom & pop stores are not about something small; they are about something big. Ninety percent of all U.S. businesses are family owned or controlled. They are important not only for the food, drink, clothing, and tools they sell us, but also for providing us with intellectual stimulation, social interaction, and connection to our communities. We must have mom & pop stores because we are social animals. We crave to be part of the marketplace.
I’m most endeared to the fact that they used gifts and talents that were taught to them by other enterprising women who looked just like them. These are gifts and talents they brought with them from Africa and other distant shores. These were gifts and talents women used to appease their owners, and make their lives comfortable. These were gifts and talents used to fuel economies and for building communities. In one book I read, nickels from the sale of chicken eggs paid the college tuition of three children.
...a long-term reputation is only at risk when companies engage in vocal launch activities such as PR and building hype. When a product fails to live up to those pronouncements, real long-term damage can happen to a corporate brand. But startups have the advantage of being obscure, having a pathetically small number of customers and not having much exposure. Rather than lamenting them, use these advantages to experiment under the radar and then do a public marketing launch once the product has proved itself with real customers.
Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is "creative destruction.
As soon as he said it was okay to do engineering, that really freed me up. My psychological block was really that I didn't want to start a company. Because I was just afraid. In business and politics, I wasn't going to be a real strong participant. I wasn't going to tell other people how to do things. I wasn't going to run things ever in my life. I was a non-political person and I was a very non-forceful person. It dated back to a lot of things that happened during the Vietnam War. But I just couldn't run a company.
The people who work within these industries or public services know that there are basic flaws. But they are almost forced to ignore them and to concentrate instead on patching here, improving there, fighting the fire or caulking that crack. They are thus unable to take the innovation seriously, let alone to try to compete with it. They do not, as a rule, even notice it until it has grown so big as to encroach on their industry or service, by which time it has become irreversible. In the meantime, the innovators have the field to themselves.
Any feeling of security is only in your head. Anything could happen at any time. As long as you are strictly someone’s employee at one company, you’re a liability on the balance sheet. I say that as a business owner. We cannot trust any government to provide us with what we need, nor is that its responsibility. We cannot trust most employers either. Insulate yourself with multiple incomes either from different companies or by working for yourself in addition to one main source of income. Diversify and protect yourself." - Chris Lutz, Modular Career Design
[I]f Modi is toast, it will in one sense be a tremendous pity. In his way, he represents a third generation in cricket's governance. For a hundred years and more, cricket was run by administrators, who essentially maintained the game without going out of their way to develop it. More recently it has been run by managers, with just an ounce or two of strategic thought. Modi was neither; he was instead a genuine entrepreneur. He has as much feeling for cricket as Madonna has for madrigals, but perhaps, because he came from outside cricket's traditional bureaucratic circles, he brought a vision and a common touch unexampled since Kerry Packer.
Zen is not some fancy, special art of living. Our teaching is just to live, always in reality, in its exact sense. To make our effort, moment after moment, is our way. In an exact sense, the only thing we actually can study in our life is that on which we are working in each moment. We cannot even study Buddha’s words.”-“So we should be concentrated with our full mind and body on what we do; and we should be faithful, subjectively and objectively, to ourselves, and especially to our feelings. Even when you do not feel so well, it is better to express how you feel without any particular attachment or intention. So you may say, “Oh, I am sorry, I do not feel well.
A good portfolio manager knows which companies to keep and which ones to let go. Many a GP has struggled with portfolio companies that cannot meet their value-creation milestones, or raise additional follow-on rounds of capital, or generate target returns in a time span of, say, five to seven years. The faster you recognize those losses, the better it is.”-“As David Cowan says, “Just focus on your top five—the rest is distraction.” The harder part of the investor's discipline is to know when to quit.”-“You have to constantly scan all of those things and be willing to adjust your own sense of what's a reasonable outcome and move the company into a position where it has the maximum chance to succeed. ”-“Time is your enemy: Portfolio companies always take twice as much capital and twice as long to exit. Early-stage companies rarely meet milestones as planned and always burn cash faster than anticipated.
