Entrepreneurs Short Quotes

Whatever you may have heard, self-publishing is not a short cut to anything. Except maybe insanity. Self-publishing, like every other kind of publishing, is hard work. You don’t wake up one morning good at it. You have to work for that.

Bet on your strengths. It’s an underrated business strategy in a world where so many people are obsessed with fixing their weaknesses they give short shrift to the skills they were born with.

Good blurbs are short, sweet, and limited to six. They answer the question “Why should I buy this book?

In theory, the risk of business failure can be reduced to a number, the probability of failure multiplied by the cost of failure. Sure, this turns out to be a subjective analysis, but in the process your own attitudes toward financial risk and reward are revealed. By contrast, personal risk usually defies quantification. It's a matter of values and priorities, an expression of who you are. "Playing it safe" may simply mean you do not weigh heavily the compromises inherent in the status quo. The financial rewards of the moment may fully compensate you for the loss of time and fulfillment. Or maybe you just don't think about it. On the other hand, if time and satisfaction are precious, truly priceless, you will find the cost of business failure, so long as it does not put in peril the well-being of you or your family, pales in comparison with the personal risks of no trying to live the life you want today. Considering personal risk forces us to define personal success. We may well discover that the business failure we avoid and the business success we strive for do not lead us to personal success at all. Most of us have inherited notions of "success" from someone else or have arrived at these notions by facing a seemingly endless line of hurdles extending from grade school through college and into our careers. We constantly judge ourselves against criteria that others have set and rank ourselves against others in their game. Personal goals, on the other hand, leave us on our own, without this habit of useless measurement and comparison. Only the Whole Life Plan leads to personal success. It has the greatest chance of providing satisfaction and contentment that one can take to the grave, tomorrow. In the Deferred Life Plan there will always be another prize to covet, another distraction, a new hunger to sate. You will forever come up short.

There is a very real danger present when we suppress our feelings to act on inspiration in exchange for the “safety” of the status quo. We risk sacrificing the opportunity to live a more fulfilling and purpose driven life. We risk sacrificing the opportunity to make a difference in the lives of others. We risk sacrificing the beautiful blessing of finding a greater sense of meaning in our own lives. In short, we run the very real risk living a life of regret.

And what really matters is a pretty short list: intent, authenticity, passion, patience, speed, work, and attention.

A blog post is like a miniskirt … it needs to be long enough to cover the essentials but short enough to keep it interesting.” And

He saw something more in those eyes. The emotion wasn't nakedly apparent, but Mr. Cawley was a professional at reading the subtleties of people. The elderly and wildly successful credit card magnate believed that certain human frailties could actually help fuel success. Insecurity drove billionaire entrepreneurs. Emotional instability made for superb art. The need for attention built great political leaders. But anger, in his experience, led only to inertia.

God, how I wish I could relive the whole thing. Short of that, I'd like to share the experience, the ups and downs, so some young man or woman, somewhere, going through the same trials and ordeals, might be inspired or comforted. Or warned. Some young entrepreneur, maybe, some athlete or painter or novelist, might press on. It's all the same drive. The same dream. It would be nice to help them avoid the typical discouragements. I'd tell them to hit pause, think long and hard about how they want to spend their time, and with whom they want to spend it for the next forty years. I'd tell men and women in their midtwenties not to settle for a job or a profession or even a career. Seek a calling. Even if you don't know what that means, seek it. If you're following your calling, the fatigue will be easier to bear, the disappointments will be fuel, the highs will be like nothing you've ever felt. I'd like to warn the best of them, the iconoclasts, the innovators, the rebels, that they will always have a bull's-eye on their backs. The better they get, the bigger the bull's-eye. It's not one man's opinion; it's a law of nature.

Indonesia’s richly complex wooded peatlands where entrepreneurs log, burn and plow to make palm oil plantations are one of the saddest examples of great biological loss. In shops and stores I read labels and when I find bars of soap made with palm oil I get a mental image of a ravaged forest. I do not buy that soap.

If you’re falling short of your income goals, it’s because you waste time doing low-value work. That’s it. That’s the only reason.

Even though you read much Zen literature, you must read each sentence with a fresh mind. You should not say, “I know what Zen is,” or “I have attained enlightenment.” This is also the real secret of the arts: always be a beginner.” - “When you are sitting in the middle of your own problem, which is more real to you: your problem or you yourself? The awareness that you are here, right now, is the ultimate fact. ” - “Knowing that your life is short, to enjoy it day after day, moment after moment, is the life of “form is form and emptiness is emptiness.” - “You may feel as if you are doing something special, but actually it is only the expression of your true nature; it is the activity which appeases your inmost desire. But as long as you think you are practicing zazen for the sake of something, that is not true practice.” - “The most important thing is to forget all gaining ideas, all dualistic ideas. In other words, just practice zazen in a certain posture.

The restaurant business is robust and successful precisely because individual restaurants are vulnerable and short-lived. Taleb wishes that society honoured ruined entrepreneurs as richly as it honours fallen soldiers.

For a company to be valuable it must grow and endure, but many entrepreneurs focus only on short-term growth. They have an excuse: growth is easy to measure, but durability isn’t. Those who succumb to measurement mania obsess about weekly active user statistics, monthly revenue targets, and quarterly earnings reports. However, you can hit those numbers and still overlook deeper, harder-to-measure problems that threaten the durability of your business.

Large or small, our actions forge our futures, hopefully inspiring others along the way. Entrepreneurs must love what they do to such a degree that doing it is worth sacrifice and, at times, pain. But doing anything else, we think, would be unimaginable. In times of adversity and change, we really discover who we are and what we’re made of. Effective leaders share two intertwined attributes: an unbridled level of confidence about where their organizations are headed, and the ability to bring people along. Fixing moments, like mopping a dirty floor, only provides short-term satisfaction. But take the time to understand the cause of the problem—like how to keep a floor from getting so dirty in the first place—solves, and maybe eliminates, a problem. How leaders embody the values they espouse sets a tone, an expectation, that guides their employees’ behaviors. While I would not want to constantly battle against the odds, the raw feeling of accomplishing something that others did not think possible, or leading people beyond where they thought they could go, is extremely gratifying.

Knowing what you’re looking for is half of the search. Actually, it’s more than half. If you know what you’re searching for, you can move forward quickly, with clarity, and you will save months of tire kicking and time wasting. You will be able to behave like a professional buyer, knowing when you like something and why. You will be able to see in short order if it is a real yes, a real no, or something that requires next steps to evaluate whether it is a good fit. This does not mean to be hasty and act with insufficient consideration; rather, it means that you will have more confidence in your search, in talking with brokers and sellers, and in looking at opportunities.

On the Craft of Writing:  The Story Grid: What Good Editors Know by Shawn Coyne The Elements of Style by William Strunk Jr. and E. B. White 2K to 10K: Writing Faster, Writing Better, and Writing More of What You Love by Rachel Aaron  On Writing: A Memoir of the Craft by Stephen King Take Off Your Pants! Outline Your Books for Faster, Better Writing by Libbie Hawker  You Are a Writer (So Start Acting Like One) by Jeff Goins Prosperity for Writers: A Writer's Guide to Creating Abundance by Honorée Corder  The Artist's Way by Julia Cameron The War of Art: Break Through the Blocks and Win Your Inner Creative Battles by Steven Pressfield Business for Authors: How To Be An Author Entrepreneur by Joanna Penn  On Writing Well: The Classic Guide to Writing Nonfiction by William Zinsser Writing Tools: 50 Essential Strategies for Every Writer by Roy Peter Clark On Mindset:  The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay Papasan The Art of Exceptional Living by Jim Rohn Vision to Reality: How Short Term Massive Action Equals Long Term Maximum Results by Honorée Corder The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen R. Covey Essentialism: The Disciplined Pursuit of Less by Greg Mckeown Mastery by Robert Greene The Success Principles: How to Get from Where You Are to Where You Want to Be by Jack Canfield and Janet Switzer The Game of Life and How to Play It by Florence Scovel Shinn The Compound Effect by Darren Hardy Taking Life Head On: How to Love the Life You Have While You Create the Life of Your Dreams by Hal Elrod Think and Grow Rich by Napoleon Hill In

The essence of the neo-classical argument is that competition for productive factors — land, labour and capital — forces entrepreneurs to pay an amount equal to the value that the marginal (last employed) unit of each factor creates. Given a particular technological state and relative factor supplies (scarcities), then competition ensures that each factor 'gets what it creates', that 'exploitation of a factor cannot occur.' It is then a short step to infer that the distributive shares of rent, wages, interest, etc., are socially just fair shares. The political implication is that there is no point in, or call for, class struggle, and that government intervention should be confined largely to ensuring that perfect competition prevails. In the lexicons of many Marxist writers, this qualifies as 'vulgar political economy' with a vengeance.

The fragmentation of the neoliberal self begins when the agent is brought face to face with the realization that she is not just an employee or student, but also simultaneously a product to be sold, a walking advertisement, a manager of her résumé, a biographer of her rationales, and an entrepreneur of her possibilities. She has to somehow manage to be simultaneously subject, object, and spectator. She is perforce not learning about who she really is, but rather, provisionally buying the person she must soon become. She is all at once the business, the raw material, the product, the clientele, and the customer of her own life. She is a jumble of assets to be invested, nurtured, managed, and developed; but equally an offsetting inventory of liabilities to be pruned, outsourced, shorted, hedged against, and minimized. She is both headline star and enraptured audience of her own performance.

I strongly believe in the fact that there’s still plenty of money and plenty of private equity capital available around the globe. What are in short supply are great entrepreneurs and great teams. A trading opportunity or a company’s biggest challenge is and has always been the team behind it. There’s enormous change under way in every facet of the world. Some is technology driven, some is market driven. All that change creates unprecedented opportunity, but to take full advantage of such opportunities I mostly focus on the team. The right teams and right people behind those opportunities always win. There is no secret sauce. Trading and investing has, in my experience, boiled down to building relationships and exchanging value. It consists of striking the right balance between backing and interacting with the right teams with the right business model at the right time and with the right amount of money.

If the global pie stayed the same size, there was no margin for credit. Credit is the difference between today’s pie and tomorrow’s pie. If the pie stays the same, why extend credit? It would be an unacceptable risk unless you believed that the baker or king asking for your money might be able to steal a slice from a competitor. So it was hard to get a loan in the premodern world, and when you got one it was usually small, short-term, and subject to high interest rates. Upstart entrepreneurs thus found it difficult to open new bakeries and great kings who wanted to build palaces or wage wars had no choice but to raise the necessary funds through high taxes and tariffs. That was fine for kings (as long as their subjects remained docile), but a scullery maid who had a great idea for a bakery and wanted to move up in the world generally could only dream of wealth while scrubbing down the royal kitchen’s floors. The Magic Circle of the Modern Economy It was lose-lose. Because credit was limited, people had trouble financing new businesses. Because there were few new businesses, the economy did not grow. Because it did not grow, people assumed it never would, and those who had capital were wary of extending credit. The expectation of stagnation fulfilled itself.

In the Middle Ages, sugar was a rare luxury in Europe. It was imported from the Middle East at prohibitive prices and used sparingly as a secret ingredient in delicacies and snake-oil medicines. After large sugar plantations were established in America, ever-increasing amounts of sugar began to reach Europe. The price of sugar dropped and Europe developed an insatiable sweet tooth. Entrepreneurs met this need by producing huge quantities of sweets: cakes, cookies, chocolate, candy, and sweetened beverages such as cocoa, coffee and tea. The annual sugar intake of the average Englishman rose from near zero in the early seventeenth century to around eighteen pounds in the early nineteenth century. However, growing cane and extracting its sugar was a labour-intensive business. Few people wanted to work long hours in malaria-infested sugar fields under a tropical sun. Contract labourers would have produced a commodity too expensive for mass consumption. Sensitive to market forces, and greedy for profits and economic growth, European plantation owners switched to slaves. From the sixteenth to the nineteenth centuries, about 10 million African slaves were imported to America. About 70 per cent of them worked on the sugar plantations. Labour conditions were abominable. Most slaves lived a short and miserable life, and millions more died during wars waged to capture slaves or during the long voyage from inner Africa to the shores of America. All this so that Europeans could enjoy their sweet tea and candy – and sugar barons could enjoy huge profits. The slave trade was not

When Musk took delivery of his F1, CNN was there to cover it. “Just three years ago I was showering at the Y and sleeping on the office floor,” he told the camera sheepishly, “and now obviously, I’ve got a million-dollar car… it’s just a moment in my life.” While other McLaren F1 owners around the world—the sultan of Brunei, Wyclef Jean, and Jay Leno, among others—could comfortably afford it, Musk’s purchase had put a sizable dent in his bank account. And unlike other owners, Musk drove the car to work—and declined to insure it. As Musk drove Thiel up Sand Hill Road in the F1, the car was the subject of their chat. “It was like this Hitchcock movie,” Thiel remembered, “where we’re talking about the car for fifteen minutes. We’re supposed to be preparing for the meeting—and we’re talking about the car.” During their ride, Thiel looked at Musk and reportedly asked, “So, what can this thing do?” “Watch this,” Musk replied, flooring the accelerator and simultaneously initiating a lane change on Sand Hill Road. In retrospect, Musk admitted that he was outmatched by the F1. “I didn’t really know how to drive the car,” he recalled. “There’s no stability systems. No traction control. And the car gets so much power that you can break the wheels free at even fifty miles an hour.” Thiel recalls the car in front of them coming fast into view—then Musk swerving to avoid it. The McLaren hit an embankment, was tossed into the air—“like a discus,” Musk remembered——then slammed violently into the ground. “The people that saw it happen thought we were going to die,” he recalled. Thiel had not worn a seat belt, but astonishingly, neither he nor Musk were hurt. Musk’s “work of art” had not fared as well, having now taken a distinctly cubist turn. Post-near-death experience, Thiel dusted himself off on the side of the road and hitchhiked to the Sequoia offices, where he was joined by Musk a short while later. X.com’s CEO, Bill Harris, was also waiting at the Sequoia office, and he recalled that both Thiel and Musk were late but offered no explanation for their delay. “They never told me,” Harris said. “We just had the meeting.” Reflecting on it, Musk found humor in the experience: “I think it’s safe to say Peter wouldn’t be driving with me again.” Thiel wrung some levity out of the moment, too. “I’d achieved lift-off with Elon,” he joked, “but not in a rocket.

My conclusion is that technological capitalism is by far the best system for giving entrepreneurs and workers their “fair share.” This fair share, whether measured in terms of profits or wages, is precisely what people are entitled to as a result of the value they create for their fellow citizens. While short-term inequality frequently results from the dynamic energy of a capitalist economy, that energy also produces mass affluence that ultimately raises life expectancy and living standards for everyone.

For a company to be valuable it must grow and endure, but many entrepreneurs focus only on short-term growth. They have an excuse: growth is easy to measure, but durability isn’t.

For a company to be valuable it must grow and endure, but many entrepreneurs focus only on short-term growth. They have an excuse: growth is easy to measure, but durability isn’t. Those who succumb to measurement mania obsess about weekly active user statistics, monthly revenue targets, and quarterly earnings reports. However, you can hit those numbers and still overlook deeper, harder-to-measure problems that threaten the durability of your business.

For the billionaires, champagne baths every morning and new Lamborghinis every afternoon couldn’t deplete the fathomless amount of cash on hand. “Your entire philosophy of money changes,” writes author Richard Frank in his book, Richistan. “You realize that you can’t possibly spend all of your fortune, or even part of it, in your lifetime, and that your money will probably grow over the years even if you spend lavishly.” There are dotcom entrepreneurs who could live top 1 percent American lifestyles and not run out of cash for 4,000 years. People who Bill Simmons would call “pajama rich,” so rich they can go to a five-star restaurant or sit courtside at the NBA playoffs in their pajamas. They have so much money that they have nothing to prove to anyone. And many of them are totally depressed. You’ll remember the anecdote I shared in this book’s introduction about being too short to reach between the Olympic rings at the playground jungle gym. I had to jump to grab the first ring and then swing like a pendulum in order to reach the next ring. To get to the third ring, I had to use the momentum from the previous swing to keep going. If I held on to the previous ring too long, I’d stop and wouldn’t be able to get enough speed to reach the next ring. This is Isaac Newton’s first law of motion at work: objects in motion tend to stay in motion, unless acted on by external forces. Once you start swinging, it’s easier to keep swinging than to slow down. The problem with some rapid success, it turns out, is that lucky breaks like Bear Vasquez’s YouTube success or an entrepreneur cashing out on an Internet wave are like having someone lift you up so you can grab one of the Olympic rings. Even if you get dropped off somewhere far along the chain, you’re stuck in one spot. Financial planners say that this is why a surprisingly high percentage of the rapidly wealthy get depressed. As therapist Manfred Kets de Vries once put it in an interview with The Telegraph, “When money is available in near-limitless quantities, the victim sinks into a kind of inertia.

As a business owner, you’ll ultimately take 100% responsibility for the direction you choose.

Something I’ve learned from both investors and entrepreneurs is that no one makes good decisions all the time. The most impressive people are packed full of horrendous ideas that are often acted upon. Take Amazon. It’s not intuitive to think a failed product launch at a major company would be normal and fine. Intuitively, you’d think the CEO should apologize to shareholders. But CEO Jeff Bezos said shortly after the disastrous launch of the company’s Fire Phone: If you think that’s a big failure, we’re working on much bigger failures right now. I am not kidding. Some of them are going to make the Fire Phone look like a tiny little blip.

The demands of customer discovery require people who are comfortable with change, chaos, and learning from failure and are at ease working in risky, unstable situations without a roadmap. In short, startups should welcome the rare breed generally known as entrepreneurs. They’re open to learning and discovery—highly curious, inquisitive, and creative. They must be eager to search for a repeatable and scalable business model. Agile enough to deal with daily change and operating “without a map.” Readily able to wear multiple hats, often on the same day, and comfortable celebrating failure when it leads to learning and iteration.

On a smoggy spring day, the midday sun baked two California Highway Patrolmen in dark blue uniforms and a bearded dirt biker astride his Yamaha. They stood on a dirt road between the San Andreas barren earthquake faulted hills crisscrossed with biker’s trails. The sergeant stood next to the still body of Eduardo Sanchez, a thirteen-year-old boy clad in a t-shirt and oversized shorts, lying on his back with three bullet wounds and powder burns tattooed on his forehead. An astonished look captured his small immature cold face.

To fill this gap in the capital market, Davis and Rock set themselves up as a limited partnership, the same legal structure that had been used by a short-lived rival called Draper, Gaither & Anderson.[18] Rather than identifying startups and then seeking out corporate investors, they began by raising a fund that would render corporate investors unnecessary. As the two active, or “general,” partners, Davis and Rock each seeded the fund with $100,000 of their own capital. Then, ignoring the easy loans to be had from the fashionable SBIC structure, they raised just under $3.2 million from some thirty “limited” partners—rich individuals who served as passive investors.[19] The beauty of this size and structure was that the Davis & Rock partnership now had a war chest seven and a half times larger than an SBIC, and with it the ammunition to supply companies with enough capital to grow aggressively. At the same time, by keeping the number of passive investors under the legal threshold of one hundred, the partnership flew under the regulatory radar, avoiding the restrictions that ensnared the SBICs and Doriot’s ARD.[20] Sidestepping yet another weakness to be found in their competitors, Davis and Rock promised at the outset to liquidate their fund after seven years. The general partners had their own money in the fund, and thus a healthy incentive to invest with caution. At the same time, they could deploy the outside partners’ capital for a limited time only. Their caution would be balanced with deliberate aggression. Indeed, everything about the fund’s design was calculated to support an intelligent but forceful growth mentality. Unlike the SBICs, Davis & Rock raised money purely in the form of equity, not debt. The equity providers—that is, the outside limited partners—knew not to expect dividends, so Davis and Rock were free to invest in ambitious startups that used every dollar of capital to expand their business.[21] As general partners, Davis and Rock were personally incentivized to prioritize expansion: they took their compensation in the form of a 20 percent share of the fund’s capital appreciation. Meanwhile, Rock was at pains to extend this equity mentality to the employees of his portfolio companies. Having witnessed the effect of employee share ownership on the early culture of Fairchild, he believed in awarding managers, scientists, and salesmen with stock and stock options. In sum, everybody in the Davis & Rock orbit—the limited partners, the general partners, the entrepreneurs, their key employees—was compensated in the form of equity.

Thiel’s doomsday predictions also prompted an unusual request. In preparation for a summer 2000 board meeting, Thiel had asked Musk if he could present a proposal. Musk agreed. “Uh, Peter’s got an agenda item he’d like to talk about,” Musk said, handing the reins to Thiel. Thiel began. The markets, he said, weren’t done driving into the red. He prophesied just how dire things would get—for both the company and for the world. Many had seen the bust as a mere short-term correction, but Thiel was convinced the optimists were wrong. In his view, the bubble was bigger than anyone had thought and hadn’t even begun to really burst yet. From X.com’s perspective, the implications of Thiel’s prediction were dire. Its high burn rate meant that it would need to continue fundraising. But if—no, when—the bubble truly burst, the markets would tighten further, and funding would dry up—even for X.com. The company balance sheet could drop to zero with no options left to raise money. Thiel presented a solution: the company should take the $100 million closed in March and transfer it to his hedge fund, Thiel Capital. He would then use that money to short the public markets. “It was beautiful logic,” board member Tim Hurd of MDP remembered. “One of the elements of PayPal was that they were untethered from how people did stuff in the real world.” The board was uniformly aghast. Members Moritz, Malloy, and Hurd all pushed back. “Peter, I totally get it,” Hurd replied. “But we raised money from investors on a business plan. And they have that in their files. And it said, ‘use of proceeds would be for general corporate purposes.’ And to grow the business and so forth. It wasn’t to go speculate on indices. History may prove that you’re right, and it will have been brilliant, but if you’re wrong, we’ll all be sued.” Mike Moritz’s reaction proved particularly memorable. With his theatricality on full display, Moritz “just lost his mind,” a board member remembered, berating Thiel: “Peter, this is really simple: If this board approves that idea, I’m resigning!

More to Technology (The Sonnet) Some prototypes must never be commercialized, Not till we learn to look beyond monetary value. Write some fiction instead without revealing schematics, If you want the possibility to survive through. Technology is a stupidly predictable phenomenon, What one person can imagine another can rig together. All it takes is an infinite supply of persistence, Voila - fiction of today turns reality centuries later! So I say again, ask the question of "should" not "could", If you want some tech to bring light not silent regress. Because once you put the schematics out into the world, All your brilliance will fall short to undo the damage. There's more to technology than startups 'n entrepreneurship. Power without responsibility causes disparity not uplift.

Jacquetta Hawkes famously wrote that 'Every age gets the Stonehenge it deserves', by which she meant that Stonehenge has been a Druid temple, a landing site for flying saucers, or an astronomical calendar, according to the interests of the times. The same could be said about our stories about Vikings, and they have been alternately, noble savages, raiders, marauders and rapists, peaceful traders, entrepreneurs, explorers, early democrats, or IKEA sales personnel, according to what we want them to be.

However, in a perverse twist on the modern take of the rich, our society gives those who have achieved the greatest success by work and diligence short shrift.We are not interested in emulating the Toyota-driving, modestly attired, bling-less entrepreneur or sales professional. Instead, we take as our role models celebrities and athletes, masters of the universe. Rather than attempt to find their luck, we have come to think that if we act like them, look like them, drive the cars they drive, we are glitteringly rich. In the process of buying into the marketing hype, of getting sucked into the brand advertising, we have frittered away our wealth. It’s not your fault, in a way, as some of the smartest people in the world seem to be working in marketing and advertising,

Explorations with YNK taught me that while food is notoriously localized (North Karnataka food is different in concept and taste from Mysore food just as Thanjavur sambar is quite unlike Mylapore sambar), the cuisine we were enjoying in and around Basavangudi was a speciality that could be called representative South Indian food. It was South Indian rather than area-specific because it was consciously designed to serve the purposes of tradition common to the south as a whole. It was developed by the professional culinary craftsmen of Karnataka and taken all over the world by the entrepreneurs of Karnataka, but it was generic in its South Indianness, symbolized in a word that became universal—Udupi.

The criteria that I found most valuable when making my decisions were the following: What is the size of the investor community invested in other offerings on the platform to-date? Does the platform accept investments via credit card? For example, about 40% of my crowdfunding investors invested with a credit card. Does the platform allow for campaign extensions (if you fall short of your goal within your campaign period, can you extend the campaign until you reach your goal)? I’ve extended my campaigns multiple times. Does the platform allow for multiple disbursements? I prefer to disburse money from my campaign once a month. However, many platforms don’t allow you to disburse the funds until after the campaign is over What are the fees? Platforms can charge between 5-20% of your raise as fees, with some platforms having complicated fee structures that involve taking some of your Securities as part of the offering. Some platforms require you to pay them cash upfront before launching an offering. Does the platform allow you to set your own terms? For example, some platforms don’t allow you to sell convertible notes. Some others don’t allow you to sell non-voting common stock. Some platforms insist that they set the valuation for your startup in order to launch—the logic being that they know their investors, and they want to provide them with a “good deal.” For many reasons, you want to sell the Security that’s right for your startup. Does the platform allow you to have design freedom on the campaign page? You want to make sure that your brand is well represented. The aesthetics and optimization of the page are highly correlated with conversion (how many people invest after visiting your page). Does the platform support analytics? You need advanced analytics to market your offering. Some platforms, for example, allow you to enter a Facebook Pixel and Google Analytics code into the campaign page, while others do not. Does the platform have a good reputation? You will be driving a lot of potential investors and media folks to this platform, and you want to be sure that your platform of choice hasn’t been involved in anything shady in the past. Does the platform allow you to update your investors and prospective investors with campaign notifications? Some platforms have a built-in functionality where you can post updates right on the campaign, download email, and mailing contact lists of your investors (allowing you to contact them by email and allowing you to build Facebook “lookalike audiences”). Whereas, other platforms don’t even share the email addresses of the folks who have already invested in your startup. Does the platform support or plan to support secondary trading for the Securities that it sells on its platform? Will your investors be able to sell the Securities that they buy from you? The ability to sell Securities in a marketplace brings a lot of liquidity and increases its value significantly. In order to allow for secondary trading, the platform needs to obtain an Alternative Trading System (ATS) approval from FINRA.

Who are we, the people who have ADHD? We are the problem kid who drives his parents crazy by being totally disorganized, unable to follow through on anything, incapable of cleaning up a room, or washing dishes, or performing just about any assigned task; the one who is forever interrupting, making excuses for work not done, and generally functioning far below potential in most areas. We are the kid who gets daily lectures on how we’re squandering our talent, wasting the golden opportunity that our innate ability gives us to do well, and failing to make good use of all that our parents have provided. We are also sometimes the talented executive who keeps falling short due to missed deadlines, forgotten obligations, social faux pas, and blown opportunities. Too often we are the addicts, the misfits, the unemployed, and the criminals who are just one diagnosis and treatment plan away from turning it all around. We are the people Marlon Brando spoke for in the classic 1954 film On the Waterfront when he said, “I coulda been a contender.” So many of us coulda been contenders, and shoulda been for sure. But then, we can also make good. Can we ever! We are the seemingly tuned-out meeting participant who comes out of nowhere to provide the fresh idea that saves the day. Frequently, we are the “underachieving” child whose talent blooms with the right kind of help and finds incredible success after a checkered educational record. We are the contenders and the winners. We are also imaginative and dynamic teachers, preachers, circus clowns, and stand-up comics, Navy SEALs or Army Rangers, inventors, tinkerers, and trend setters. Among us there are self-made millionaires and billionaires; Pulitzer and Nobel prize winners; Academy, Tony, Emmy, and Grammy award winners; topflight trial attorneys, brain surgeons, traders on the commodities exchange, and investment bankers. And we are often entrepreneurs. We are entrepreneurs ourselves, and the great majority of the adult patients we see for ADHD are or aspire to be entrepreneurs too. The owner and operator of an entrepreneurial support company called Strategic Coach, a man named Dan Sullivan (who also has ADHD!), estimates that at least 50 percent of his clients have ADHD as well.

Be a dewdrop and spread happiness in the lives of others because life is too short to waste time thinking you cannot!

Why should a single endorsement outweigh the chorus of “Nos” from a crowd of investors? Short answer: Because some “Nos” count more than others. “Substantial nos” can revise your idea. “Skeptical nos” can force you to rethink the size of the opportunity. These are “Nos” worth listening to and learning from. But then, there are “lazy nos,” and these you need to dismiss and move on from—quickly.

I've observed that what's different about successful entrepreneurs is not their drive, as most are no more or no less driven than many leaders in the corporate world are. It's not their personalities, as they are all as different as you are from me. It's not their willingness to take risk, because what the good ones do is find ways to offload the ever‐present risk onto others or mitigate it. They manage risk. They don't take risk, at least not willingly. So, what's the difference? It's their mindsets that cause entrepreneurs to think and act fundamentally differently from many of their peers in large, well‐established businesses. Moreover, these mindsets fly in the face of much of what we teach—and have taught for decades—in business schools. They fly in the face of what we have come to accept as near‐universal truths about how business works. They fly in the face of what most people think one should do to lead and manage a successful business. In short, they break the conventional rules.

Once you’re public, you need a thick skin and a short memory. Even Mother Theresa had haters.” – My Fabulous Mom

We always get opportunities of doing something wrong or bad. Opportunities of hurting, cheating, lying, exaggerating to take advantage of others, and making the situation to favor us. Opportunities of making things unfair because when they are fair and right, they cost us more than the other person. No matter what happens don’t take those opportunities. Those opportunities are your setbacks. If you take them. You will be happy and would have benefited for the short time. Then you will suffer for the rest of your life.

A blog post is like a miniskirt … it needs to be long enough to cover the essentials but short enough to keep it interesting.

Josh Miller, 22 years old. He is co-founder of Branch, a “platform for chatting online as if you were sitting around the table after dinner.” Miller works at Betaworks, a hybrid company encapsulating a co-working space, an incubator and a venture capital fund, headquartered on 13th Street in the heart of the Meatpacking District. This kid in T-shirt and Bermuda shorts, and a potential star of the 2.0 version of Sex and the City, is super-excited by his new life as a digital neo-entrepreneur. He dropped out of Princeton in the summer of 2011 a year before getting his degree—heresy for the almost 30,000 students who annually apply to the prestigious Ivy League school in the hope of being among the 9% of applicants accepted. What made him decide to take such a big step? An internship in the summer of 2011 at Meetup, the community site for those who organize meetings in the flesh for like-minded people. His leader, Scott Heiferman, took him to one of the monthly meetings of New York Tech Meetup and it was there that Miller saw the light. “It was the coolest thing that ever happened to me,” he remembers. “All those people with such incredible energy. It was nothing like the sheltered atmosphere of Princeton.” The next step was to take part in a seminar on startups where the idea for Branch came to him. He found two partners –students at NYU who could design a website. Heartened by having won a contest for Internet projects, Miller dropped out of Princeton. “My parents told me I was crazy but I think they understood because they had also made unconventional choices when they were kids,” says Miller. “My father, who is now a lawyer, played drums when he was at college, and he and my mother, who left home at 16, traveled around Europe for a year. I want to be a part of the new creative class that is pushing the boundaries farther. I want to contribute to making online discussion important again. Today there is nothing but the soliloquy of bloggers or rude anonymous comments.” The idea, something like a public group email exchange where one can contribute by invitation only, interested Twitter cofounder Biz Stone and other California investors who invited Miller and his team to move to San Francisco, financing them with a two million dollar investment. After only four months in California, Branch returned to New York, where it now employs a dozen or so people. “San Francisco was beautiful and I learned a lot from Biz and my other mentors, but there’s much more adrenaline here,” explains Miller, who is from California, born and raised in Santa Monica. “Life is more varied here and creating a technological startup is something new, unlike in San Francisco or Silicon Valley where everyone’s doing it: it grabs you like a drug. Besides New York is the media capital and we’re an online publishing organization so it’s only right to be here.”[52]

Caroline’s project faces extreme uncertainty: there had never been a volunteer campaign of this magnitude at HP before. How confident should she be that she knows the real reasons people aren’t volunteering? Most important, how much does she really know about how to change the behavior of hundreds of thousand people in more than 170 countries? Barlerin’s goal is to inspire her colleagues to make the world a better place. Looked at that way, her plan seems full of untested assumptions—and a lot of vision. In accordance with traditional management practices, Barlerin is spending time planning, getting buy-in from various departments and other managers, and preparing a road map of initiatives for the first eighteen months of her project. She also has a strong accountability framework with metrics for the impact her project should have on the company over the next four years. Like many entrepreneurs, she has a business plan that lays out her intentions nicely. Yet despite all that work, she is—so far—creating one-off wins and no closer to knowing if her vision will be able to scale. One assumption, for example, might be that the company’s long-standing values included a commitment to improving the community but that recent economic trouble had resulted in an increased companywide strategic focus on short-term profitability. Perhaps longtime employees would feel a desire to reaffirm their values of giving back to the community by volunteering. A second assumption could be that they would find it more satisfying and therefore more sustainable to use their actual workplace skills in a volunteer capacity, which would have a greater impact on behalf of the organizations to which they donated their time. Also lurking within Caroline’s plans are many practical assumptions about employees’ willingness to take the time to volunteer, their level of commitment and desire, and the way to best reach them with her message. The Lean Startup model offers a way to test these hypotheses rigorously, immediately, and thoroughly. Strategic planning takes months to complete; these experiments could begin immediately. By starting small, Caroline could prevent a tremendous amount of waste down the road without compromising her overall vision. Here’s what it might look like if Caroline were to treat her project as an experiment.

For pretty much my whole life, I thought I was living to better myself, to create the best life possible. About a year ago, that mindset changed. I now believe I’m here to create the best world possible. This shift from me to everyone is what altered my entire understanding of passion, and my purpose. Ben Horowitz is one of my digital mentors (meaning I follow his blog). I find him very insightful. Whenever he says (or writes about) anything, I inevitably start nodding my head until my neck is sore. Here’s an excerpt from the commencement speech he gave at Columbia, his alma mater: “Following your passion is a very me centered view of the world, and as you go through life, what you’ll find is that what you take out of the world over time—be it…money, cars, stuff, accolades—is much less important than what you put into the world. And so my recommendation would be to follow your contribution. Find the thing that you’re great at, put that into the world, contribute to others, help the world be better. That is the thing to follow." Most of the time, if you follow your contribution, it’s either already a passion, or likely to become one. Doing something you’re good at is intoxicating, as is contributing to the world. Writing and launching The Connection Algorithm was a full year of hard work. It was the result of countless hours of reflection, deeply philosophical thinking, and brutal honesty. Throughout the entire process, I felt driven, passionate, and motivated. At first, I thought this was because I was doing it on my own. But I’ve come to realize it was something else—something far more profound. Shortly after the book was released, I began receiving emails from people who had read the book and been deeply impacted by it. A highschooler in Miami. An entrepreneur in Amsterdam. A small business owner in the midwest. People were also leaving reviews on Amazon—people I didn’t know, saying the book helped them live a better life. And on my Kindle, I could see passages that people were highlighting. People weren’t just reading my book, they were taking notes on useful things to remember. The craft of writing has been unbelievably fulfilling for me. And so I’m continuing the pursuit. My motivation is no longer to make a buck, or “win at life.” Rather, I’m working to improve the world. I think of myself as an inventor, creating a new piece of art for the world to discover. When you make the world better, you get rewarded. So find your craft, and then determine the best contribution you can make with it.

If you’re spending too much time behind the laptop, it means you’re short one salesman! Spreadsheets also fail to take into account all the sweat and effort it takes to sell a case, as well as the unpleasant surprises that inevitably happen, such as the customer who doesn’t pay (see lesson two), the railroad car full of tea that gets frozen in North Dakota, the broken boiler at the bottling plant, the upside down labels ... you get the idea.

What's your name?" Oedipa said. "Winthrop Tremaine," replied the spirited entrepreneur, "Winner, for short. Listen, now we're getting up an arrangement with one of the big ready-to-wear outfits in L.A. to see how SS uniforms go for the fall. We're working it in with the back-to-school campaign, lot of 37 longs, you know, teenage kid sizes. Next season we may go all the way and get out a modified version for the ladies. How would that strike you?""I'll let you know," Oedipa said. "I'll keep you in mind." She left, wondering if she should've called him something, or tried to hit him with any of a dozen surplus, heavy, blunt objects in easy reach. There had been no witnesses. Why hadn't she?

most merely took advantage of the opportunity to turn hard work into cold cash. Jim Crow laws prevented them from shopping in the white businesses of Tulsa, so entrepreneurs turned this fact into advantage and built their own shops. Money that filtered into Greenwood from workers in white Tulsa stayed in Greenwood. They spent their money with their own. In a relatively short time, many Greenwood residents enjoyed such prosperity that they became known as “Black Wall Street.” They were living the American Dream.

in most situations, the people you communicate with are only going to remember one thing that you say to them—if you’re lucky. So try to create a message that gets them to remember the thing you want them to remember, and keep it short and sweet. See,

With our combined experience of over 30 years, One Small Child are excited to make it our own and still honor what his mom (quite the amazing entrepreneur) started. Purely masculine, this simple short romper of shantung is the perfect dresses to wear to a christening and understated, ideal for warm weather celebrations.Our luxuriously soft interlock rib-knit fabric has a blissful feel and an angelic appearance, making this sweet romper the perfect christening outfits for boys fall and winter events. Our customer research shows that the most christening gifts for girls are those that are thoughtful, personalized and well, just a little bit different.

Life is so short, so beautiful. Don’t be so serious about work. Enjoy the lives.” – Jack Ma

Don't be afraid to start small, entrepreneurship takes courage to win, and look for quick wins while setting a short and long term vision

we think we can truly short-circuit the ramp by killing things that don’t make sense fast and doubling down on the ones that do.

How about first ensuring that people within in a twenty-mile radius like the food before worrying about scaling the restaurant? That is, see if the business will work at all. For example, a company that I advise called Tutor Universe provides tutoring service via smartphones. Think of it as Uber for tutoring. The long-term plan was that students could ask questions about any topic and receive help in under fifteen minutes. However, in the beginning, a critical mass of tutors for every subject didn’t yet exist. Many startups face just such a chicken-or-egg challenge: If you had enough tutors, you’d attract enough students. If you had enough students, you’d attract enough tutors. What do you do when you’re faced with this kind of challenge? The answer is simple: you cheat! You use your own employees to answer questions, and hire tutors in the Philippines (highly educated, English speaking, and cheap) until you can reach a critical mass of a marketplace. Skeptics and inexperienced entrepreneurs might object, “You can’t scale if you have to use employees or hire tutors, because they are too expensive.” This might be true, but it doesn’t matter. What’s important is that you establish three key points: you can get the word out, students are willing to install an app, and they will pay for help. Your priority, in short, is proving that people will use your product at all. If they won’t, then it won’t matter if you can’t scale. If they will, then you will figure out a way to scale. I’ve never seen a startup die because it couldn’t scale fast enough. I’ve seen hundreds of startups die because people simply refused to embrace their product.

For a company to be valuable it must grow and endure, but many entrepreneurs focus only on short-term growth. They have an excuse: growth is easy to measure, but durability isn’t.

many entrepreneurs focus only on short-term growth. They have an excuse: growth is easy to measure, but durability isn’t.

The elderly and wildly successful credit card magnate believed that certain human frailties could actually help fuel success. Insecurity drove billionaire entrepreneurs. Emotional instability made for superb art. The need for attention built great political leaders. But anger, in his experience, led only to inertia.

This presents a very curious phenomenon. There are two synergistic approaches for increasing productivity that are inversions of each other: 1. Limit tasks to the important to shorten work time (80/20). 2. Shorten work time to limit tasks to the important (Parkinson’s Law). The best solution is to use both together: Identify the few critical tasks that contribute most to income and schedule them with very short and clear deadlines. If you haven’t identified the mission-critical tasks and set aggressive start and end times for their completion, the unimportant becomes the important. Even if you know what’s critical, without deadlines that create focus, the minor tasks forced upon you (or invented, in the case of the entrepreneur) will swell to consume time until another bit of minutiae jumps in to replace

Life is so short & beautiful. Don’t be (too) serious about work. Enjoy (your) life.” – Jack Ma

Rissa Kerguelen by F. M. Busby. I read this now largely forgotten science fiction book at about the time I was starting my company, and it influenced me deeply. One key idea is the role of entrepreneurship as a “subversive force.” In a world dominated by large companies, it is the smaller companies that keep freedom alive, with economics at least one of the battlegrounds. This book gave me the courage to submerge myself in the details of a fundamentally trivial business (technical writing and publishing) and to let go of my earlier hopes of writing deep books that would change the world. Those hopes came back around later. The other wonderful idea in this book is “the long view.” Well before the Long Now Foundation popularized the idea, Busby hinged his plot on the science fiction trope that in a world of near-light-speed travel, time passes more slowly for those at near-relativistic speed than for those left behind. The characters must set events in motion and travel to meet up with them decades hence. That was also a useful framing as I set out to build a business that would allow me to affect the world of the future in ways that I couldn’t yet as a young entrepreneur.

As we’ve seen, up to 25 percent of employed seniors from our top universities are heading to financial services each year. Our financial services industry (and to a lesser extent its attendant legal industry) plays an equivalent role to the oil industry in Saudi Arabia in terms of talent attraction. You can see a similar dynamic at work in other fields with fixed slots. There were 682 orthopedic surgery residents in the United States in 2012. That number is set because there are only so many funded residency slots in teaching hospital programs throughout the country.4 If I were to kick butt in medical school and get one of these residencies, I would be on the way to becoming an orthopedic surgeon, probably the most coveted residency due to money, lifestyle, low morbidity of patients, gratification from restoring mobility, and other factors. But let’s say that I didn’t make it and fell short—there would still be 682 orthopedic surgeons five years from now because the next guy would have gotten that slot. We’re all competing to fit through the same finite gate. The value difference if I perform really strongly and get one of these coveted spots is not one more surgeon—it’s the gap between me and the 683rd person who didn’t get it (and perhaps went into a less prestigious or less lucrative specialty). From a value creation standpoint, it’s not ideal for a massive level of talent to be going to existing enterprises that have captured large economic rents or where people are fighting for a set of finite slots. The rents and slots will stay essentially constant. Contrast this with new business formation. If I were to say, “There are only going to be 682 new successful businesses started in the United States next year,” people would instantly regard that as ridiculous. It’s unknown and unknowable. But we all know that if another enterprising team comes along and starts a cool company, that number goes up by one.

What inspires or motivates anyone to become an entrepreneur? The stories here suggest two ingredients go into the decision to start a company. Someone sees herself filling a need for others with a new product or service. Making something new to which the market responds, being the first to do so, entering into an unknown world by starting a company that could fail or make her wealthy, all suggest challenges that excite every entrepreneur. All these entrepreneurs were at moments in their careers at which they could consider new life plans and take on the challenges of starting companies. All implicitly weighed their circumstances, and the possibilities that awaited them if they let the entrepreneurial moment pass. Some had secure employment, mortgages, family obligations, or pending job offers. While such considerations hold others back, entrepreneurs choose the path of adventure. They set out to make the new, and in the process to make a different life for themselves. Some, as we will see shortly, can’t help themselves.

God, how I wish I could relive the whole thing. Short of that, I’d like to share the experience, the ups and downs, so that some young man or woman, somewhere, going through the same trials and ordeals, might be inspired or comforted. Or warned. Some young entrepreneur, maybe, some athlete or painter or novelist, might press on. It’s all the same drive. The same dream.

The greatest obstacles to an entrepreneur’s good intentions for long-term behavioural change are the many attractive short-term business opportunities that arise.

If you’re single-mindedly focused on your long-term goal, you’ll be more effective in the short term and get there faster.

In short, you would see how The Entrepreneur in you dreams and schemes, The Manager in you is constantly attempting to keep things as they are, and The Technician in you drives the other two crazy. You would see that it not only matters that your personalities are not in a balanced relationship with each other but that your life depends on gaining that balance. That until you do, it’s a war! And it’s a war no one can win.

Despite their wide diversity, Methodists, Baptists, Universalists, Disciples, Mormons, and Millerites were all communication entrepreneurs, and their movements were crusades for broadcasting the truth. Each was wedded to the transforming power of the word, spoken, written, and sung; each was passionate about short-circuiting a hierarchical flow of information; each was supremely confident that the vernacular and the colloquial were the most fitting channels for religious expression; and each was content to measure the success of individuals and movements by their ability to persuade. By systematically employing lay preachers, by exploiting a golden age of local publishing, and by spreading new forms of religious folk music, they ensured the forceful delivery of their message.

Like the team at the FDA, the EIR team enlisted entrepreneurs familiar with the obstacles, including SoftLayer senior executive Paul Ford, to work alongside the USCIS personnel committed to removing or clearing them. “You get fresh thinking, you get a very low-cost way of trying to impact the situation because the people doing this are committed to try to find what’s not working and propose solutions, rather than take a partisan or political or hierarchical or structural view to the environment,” Feld said. “They’re short-timers, so they’re committed for a period of time to come do something, but they’re not here for career advancement, so they are going to speak their mind.” Feld also believed that the presence of Ford and other outside entrepreneurs made the participants feel more comfortable to speak freely than if they had been working with government officials alone. In the spring of 2012, the team began building a prototype of an alternative application process for entrepreneurs and by fall had achieved a significant breakthrough: the launch of the Entrepreneurship Pathways web portal, designed to close the information gap between USCIS and those in the entrepreneurial community, by letting them know which visa may be most appropriate—including the O-1—for their situation.24 While the results of this exercise were not empirically conclusive at the time of an interview for this book, Feld did offer his anecdotal assessment “that there’s an increased number of people who I know have been able to get into the country and get valid visas who are entrepreneurs. I’ve definitely heard a decrease in the negative.

success theater”—the work we do to make ourselves look successful. We could have tried marketing gimmicks, bought a Super Bowl ad, or tried flamboyant public relations (PR) as a way of juicing our gross numbers. That would have given investors the illusion of traction, but only for a short time.

A platform is a raised, level surface on which people or things can stand. A platform business works in just that way: it allows users—producers and consumers of goods, services, and content— to create, communicate, and consume value through the platform. Amazon, Apple’s App Store, eBay, Airbnb, Facebook, LinkedIn, Pay- Pal, YouTube, Uber, Wikipedia, Instagram, etsy, Twitter, Snapchat, Hotel Tonight, Salesforce, Kickstarter, and Alibaba are all platform businesses. While these businesses have done many impressive things, the most relevant to us is that they have created an oppor- tunity for anyone, even those with limited means, to share their thoughts, ideas, creativity, and creations with millions of people at a low cost. Today, if you create a product or have an idea, you can sell that product or share that idea with a substantial audience quickly and cost-effectively through these platforms. Not only that, but the platforms arguably give more power to individuals than corporations since they’re so efficient at identifying ulterior motives or lack of authenticity. The communities on these platforms, many of whom are millennials, know when they’re being sold to rather than shared with, and quickly eliminate those users from their con- sciousness (a/k/a their social media feeds). Now, smaller organizations and less prosperous individuals are able to sell to or share their products, services, or content with more targeted demographics of people. That’s exactly what the modern consumer desires: a more personalized, connected experience. For example, a Brooklyn handbag designer can sell her handbags to a select group of customers through one of the multitude of fashion or shopping platforms and create an ongoing dialogue with her audience through a communication platform such as Instagram. Or an independent filmmaker from Los Angeles can create a short film using a GoPro and the editing software on their Mac and then instantly share it with countless people through one of a dozen video platforms and get direct feedback. Or an author can write a book and sell it directly from his or her website and social channels to anyone who’s excited about it. The reaction to standardization and globalization has been enabled by these platforms. Customers can get what they want, from whomever they want, whenever they want it. It’s a revised and personalized version of globalization that allows us to maintain and enhance the cultural connections that create the meaning we crave in our lives.

Mr. Cawley looked into Rob’s eyes and understood that the young man was saying this only because he was supposed to. He saw something more in those eyes: anger. The emotion wasn’t nakedly apparent, but Mr. Cawley was a professional at reading the subtleties of people. The elderly and wildly successful credit card magnate believed that certain human frailties could actually help fuel success. Insecurity drove billionaire entrepreneurs. Emotional instability made for superb art. The need for attention built great political leaders. But anger, in his experience, led only to inertia. He remembered when he’d offered to pay Rob’s tuition at this very event, in this very gymnasium—an offer he’d never made to any student before or since. As a financial master, Mr. Cawley looked at the world in terms of investments, of risk and reward. In 1998, the “investment” in Rob had struck him on paper as one of the lowest-risk and the highest-return; he saw no possible downside in giving this rare boy the slight push (Yale’s four-year tuition of $140,000 being slight for a bank CEO worth nine figures) he needed to reach the pinnacle for which he was already headed. Almost a decade later, as Rob broke off eye contact to gaze down at the floor as if there were a pit between them, Mr. Cawley understood that a life wasn’t lived on paper. He was not disappointed so much as confused, and he opted not to inquire further into what exactly had happened to Rob’s psyche between Yale graduation and now. He wanted to spare himself the sting of his own poor judgment. This conversation was the last he ever had with Rob.

I consoled myself that if we hadn’t built this first product—mistakes and all—we never would have learned these important insights about customers. We never would have learned that our strategy was flawed. There is truth in this excuse: what we learned during those critical early months set IMVU on a path that would lead to our eventual breakout success. For a time, this “learning” consolation made me feel better, but my relief was short-lived. Here’s the question that bothered me most of all: if the goal of those months was to learn these important insights about customers, why did it take so long? How much of our effort contributed to the essential lessons we needed to learn? Could we have learned those lessons earlier if I hadn’t been so focused on making the product “better” by adding features and fixing bugs?

Binge-worthy content (to engage & convert) is an email or video series, workshops and webinars, or a pop-up Facebook group where exclusive content is shared. The characteristic of this content is that it’s just that—binge-worthy. These content formats are exclusive and/or only available for a short period of time. These are also likely to be launch vehicles that kick off the start of a launch.

Netflix made binging popular. Rather than releasing one episode a week and building hype and anticipation, it releases multiple episodes in short bursts.

The overwhelming importance of future profits is counterintuitive even in Silicon Valley. For a company to be valuable it must grow and endure, but many entrepreneurs focus only on short-term growth. They have an excuse: growth is easy to measure, but durability isn’t. Those who succumb to measurement mania obsess about weekly active user statistics, monthly revenue targets, and quarterly earnings reports. However, you can hit those numbers and still overlook deeper, harder-to-measure problems that threaten the durability of your business.

That method of deconstructing what works into its component elements has been the key to my success as a creator and an entrepreneur. You put the elements together in the best way you can and see what happens. Remember what works, forget the rest. Keep homing in until you’ve figured out the winning formula. Then use that formula consistently. It sounds simple, but it’s shockingly powerful: Deconstruct Emulate Analyze Repeat DEAR for short. I

Herb met client Rollin King, an entrepreneur who had been running a third-level charter airline doing short-haul routes out of Twin Beaches since 1964. By 1967, King had observed and studied the success of Pacific Southwest Airlines, which was the first large discount airline operating within California. Rollin King met with Herb Kelleher soon after at a bar, where King sketched the triangle diagram of the three-city route on the back of a cocktail napkin. After some thought, Kelleher was on board with a $10,000 investment and to provide legal services.

6. No matter what, the chips stay on the table. Despite the “going all in” analogy, I don’t compare this life to gambling. In this game, the house doesn’t win because you stayed to play. Being an entrepreneur means thinking in years rather than months. The worst thing you could do in any cycle is trade a long-term risk for a short-term win. When it comes to building a seven-figure business, here’s the mindset you should take on: The longer you can keep your chips on the table, the bigger your end result is going to be. This means not taking an income from the business as soon as you’re profitable. It means keeping the profits in play for the business rather than for your own bank account. Put simply, it means reinvesting rather than recouping. The time frame I recommend for reinvesting profits is a year, at least. During that year, you’ll be working for very little payoff. You’ll be putting every dime you make back into the business. If you can stick it out, then you will increase your chances of success exponentially.

The ultimate trick is to understand and grasp the fact that whatever we decide in life, we have to be consistent in that and ignore any short term benefits from it. Over a period of time the benefits start compounding and you fetch results for sure. So make sure you use this eighth wonder of the world – its free!

A word of warning: The absolute worst thing you can do is ask yourself, What products are super popular right now? For example, I can’t tell you how many people I know chased fidget spinners or tried to sell diet supplements. Both trends exploded brightly, and, sure, some people made some money—but they couldn’t build a business, because fidget spinners are a one-off product that don’t serve a direct person, and diet fads change every year. Those people thought they had a business, but what they actually had was a short-term cash flow machine, and most of those sellers are out of business now that their flash-in-the-pan fad has fizzled out.

Raise Startup Capital For Your Business Funding a startup business is quite a daunting task especially if you’re short of funds or you don't have previous experience of running a business. In order to stay afloat, you need to be prepared for a multitude of issues and fund raising is a huge issue for new entrepreneurs in this field. With a few tips you can get the best deal on funding and establish a professional relationship with your Small Business Accountants. When the final decision is made to go ahead with the capital raise, make sure you have all your ducks in a row.