Inc Magazine Quotes

In two days he saw Rupert Murdoch, his son James, and the management of their Wall Street Journal; Arthur Sulzberger Jr. and the top executives at the New York Times; and executives at Time, Fortune, and other Time Inc. magazines. “I would love to help quality journalism,” he later said. “We can’t depend on bloggers for our news.

He spoke like a man who'd been born in a barn and raised by a pile of porn magazines.

Of course, I have never agreed that creativity is the great contribution of the advertising agency, and a look through the pages of the business magazines should dramatize my contention that much advertising suffers from overzealous creativity—aiming for high readership scores rather than for the accomplishment of a specified communications task. Or, worse, creativity for self-satisfaction. —Howard Sawyer, Vice President, Marsteller, Inc.

Entrepreneurs become entrepreneurs for one simple reason: to be free. If you give that up, then you stop being an entrepreneur, and to hell with that. -          Wilson Harrell, founder of over 100 companies and former publisher of Inc. Magazine

As artists and professionals it is our obligation to enact our own internal revolution, a private insurrection inside our own skulls. In this uprising we free ourselves from the tyranny of consumer culture. We overthrow the programming of advertising, movies, video games, magazines, TV, and MTV by which we have been hypnotized from the cradle. We unplug ourselves from the grid by recognizing that we will never cure our restlessness by contributing our disposable income to the bottom line of Bullshit, Inc., but only by doing our work.

Loomis, the longest-tenured Time, Inc., employee, still worked at the magazine while I was researching this book, and when I asked her about Cobb, with whom she’d also gone on a second date to an old-timers game at Yankee Stadium, she directed me toward a memoir she’d written in which she described him as “smart and gentlemanly.” He’d been deeply impressed, she said, with her knowledge of baseball.

In this uprising we free ourselves from the tyranny of consumer culture. We overthrow the programming of advertising, movies, video games, magazines, TV, and MTV by which we have been hypnotized from the cradle. We unplug ourselves from the grid by recognizing that we will never cure our restlessness by contributing our disposable income to the bottom line of Bullshit, Inc., but only by doing our work.

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

Likewise, we “trusted the process,” but the process didn’t save Toy Story 2 either. “Trust the Process” had morphed into “Assume that the Process Will Fix Things for Us.” It gave us solace, which we felt we needed. But it also coaxed us into letting down our guard and, in the end, made us passive. Even worse, it made us sloppy. Once this became clear to me, I began telling people that the phrase was meaningless. I told our staff that it had become a crutch that was distracting us from engaging, in a meaningful way, with our problems. We should trust in people, I told them, not processes. The error we’d made was forgetting that “the process” has no agenda and doesn’t have taste. It is just a tool—a framework. We needed to take more responsibility and ownership of our own work, our need for self-discipline, and our goals. Imagine an old, heavy suitcase whose well-worn handles are hanging by a few threads. The handle is “Trust the Process” or “Story Is King”—a pithy statement that seems, on the face of it, to stand for so much more. The suitcase represents all that has gone into the formation of the phrase: the experience, the deep wisdom, the truths that emerge from struggle. Too often, we grab the handle and—without realizing it—walk off without the suitcase. What’s more, we don’t even think about what we’ve left behind. After all, the handle is so much easier to carry around than the suitcase. Once you’re aware of the suitcase/handle problem, you’ll see it everywhere. People glom onto words and stories that are often just stand-ins for real action and meaning. Advertisers look for words that imply a product’s value and use that as a substitute for value itself. Companies constantly tell us about their commitment to excellence, implying that this means they will make only top-shelf products. Words like quality and excellence are misapplied so relentlessly that they border on meaningless. Managers scour books and magazines looking for greater understanding but settle instead for adopting a new terminology, thinking that using fresh words will bring them closer to their goals. When someone comes up with a phrase that sticks, it becomes a meme, which migrates around even as it disconnects from its original meaning. To ensure quality, then, excellence must be an earned word, attributed by others to us, not proclaimed by us about ourselves. It is the responsibility of good leaders to make sure that words remain attached to the meanings and ideals they represent.

WHY DIVERSIFY? During the bull market of the 1990s, one of the most common criticisms of diversification was that it lowers your potential for high returns. After all, if you could identify the next Microsoft, wouldn’t it make sense for you to put all your eggs into that one basket? Well, sure. As the humorist Will Rogers once said, “Don’t gamble. Take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.” However, as Rogers knew, 20/20 foresight is not a gift granted to most investors. No matter how confident we feel, there’s no way to find out whether a stock will go up until after we buy it. Therefore, the stock you think is “the next Microsoft” may well turn out to be the next MicroStrategy instead. (That former market star went from $3,130 per share in March 2000 to $15.10 at year-end 2002, an apocalyptic loss of 99.5%).1 Keeping your money spread across many stocks and industries is the only reliable insurance against the risk of being wrong. But diversification doesn’t just minimize your odds of being wrong. It also maximizes your chances of being right. Over long periods of time, a handful of stocks turn into “superstocks” that go up 10,000% or more. Money Magazine identified the 30 best-performing stocks over the 30 years ending in 2002—and, even with 20/20 hindsight, the list is startlingly unpredictable. Rather than lots of technology or health-care stocks, it includes Southwest Airlines, Worthington Steel, Dollar General discount stores, and snuff-tobacco maker UST Inc.2 If you think you would have been willing to bet big on any of those stocks back in 1972, you are kidding yourself. Think of it this way: In the huge market haystack, only a few needles ever go on to generate truly gigantic gains. The more of the haystack you own, the higher the odds go that you will end up finding at least one of those needles. By owning the entire haystack (ideally through an index fund that tracks the total U.S. stock market) you can be sure to find every needle, thus capturing the returns of all the superstocks. Especially if you are a defensive investor, why look for the needles when you can own the whole haystack?

Everywhere you look with this young lady, there’s a purity of motivation,” Shultz told him. “I mean she really is trying to make the world better, and this is her way of doing it.” Mattis went out of his way to praise her integrity. “She has probably one of the most mature and well-honed sense of ethics—personal ethics, managerial ethics, business ethics, medical ethics that I’ve ever heard articulated,” the retired general gushed. Parloff didn’t end up using those quotes in his article, but the ringing endorsements he heard in interview after interview from the luminaries on Theranos’s board gave him confidence that Elizabeth was the real deal. He also liked to think of himself as a pretty good judge of character. After all, he’d dealt with his share of dishonest people over the years, having worked in a prison during law school and later writing at length about such fraudsters as the carpet-cleaning entrepreneur Barry Minkow and the lawyer Marc Dreier, both of whom went to prison for masterminding Ponzi schemes. Sure, Elizabeth had a secretive streak when it came to discussing certain specifics about her company, but he found her for the most part to be genuine and sincere. Since his angle was no longer the patent case, he didn’t bother to reach out to the Fuiszes. — WHEN PARLOFF’S COVER STORY was published in the June 12, 2014, issue of Fortune, it vaulted Elizabeth to instant stardom. Her Journal interview had gotten some notice and there had also been a piece in Wired, but there was nothing like a magazine cover to grab people’s attention. Especially when that cover featured an attractive young woman wearing a black turtleneck, dark mascara around her piercing blue eyes, and bright red lipstick next to the catchy headline “THIS CEO IS OUT FOR BLOOD.” The story disclosed Theranos’s valuation for the first time as well as the fact that Elizabeth owned more than half of the company. There was also the now-familiar comparison to Steve Jobs and Bill Gates. This time it came not from George Shultz but from her old Stanford professor Channing Robertson. (Had Parloff read Robertson’s testimony in the Fuisz trial, he would have learned that Theranos was paying him $500,000 a year, ostensibly as a consultant.) Parloff also included a passage about Elizabeth’s phobia of needles—a detail that would be repeated over and over in the ensuing flurry of coverage his story unleashed and become central to her myth. When the editors at Forbes saw the Fortune article, they immediately assigned reporters to confirm the company’s valuation and the size of Elizabeth’s ownership stake and ran a story about her in their next issue. Under the headline “Bloody Amazing,” the article pronounced her “the youngest woman to become a self-made billionaire.” Two months later, she graced one of the covers of the magazine’s annual Forbes 400 issue on the richest people in America. More fawning stories followed in USA Today, Inc., Fast Company, and Glamour, along with segments on NPR, Fox Business, CNBC, CNN, and CBS News. With the explosion of media coverage came invitations to numerous conferences and a cascade of accolades. Elizabeth became the youngest person to win the Horatio Alger Award. Time magazine named her one of the one hundred most influential people in the world. President Obama appointed her a U.S. ambassador for global entrepreneurship, and Harvard Medical School invited her to join its prestigious board of fellows.

Anna Chapman was born Anna Vasil’yevna Kushchyenko, in Volgograd, formally Stalingrad, Russia, an important Russian industrial city. During the Battle of Stalingrad in World War II, the city became famous for its resistance against the German Army. As a matter of personal history, I had an uncle, by marriage that was killed in this battle. Many historians consider the battle of Stalingrad the largest and bloodiest battle in the history of warfare. Anna earned her master's degree in economics in Moscow. Her father at the time was employed by the Soviet embassy in Nairobi, Kenya, where he allegedly was a senior KGB agent. After her marriage to Alex Chapman, Anna became a British subject and held a British passport. For a time Alex and Anna lived in London where among other places, she worked for Barclays Bank. In 2009 Anna Chapman left her husband and London, and moved to New York City, living at 20 Exchange Place, in the Wall Street area of downtown Manhattan. In 2009, after a slow start, she enlarged her real-estate business, having as many as 50 employees. Chapman, using her real name worked in the Russian “Illegals Program,” a group of sleeper agents, when an undercover FBI agent, in a New York coffee shop, offered to get her a fake passport, which she accepted. On her father’s advice she handed the passport over to the NYPD, however it still led to her arrest. Ten Russian agents including Anna Chapman were arrested, after having been observed for years, on charges which included money laundering and suspicion of spying for Russia. This led to the largest prisoner swap between the United States and Russia since 1986. On July 8, 2010 the swap was completed at the Vienna International Airport. Five days later the British Home Office revoked Anna’s citizenship preventing her return to England. In December of 2010 Anna Chapman reappeared when she was appointed to the public council of the Young Guard of United Russia, where she was involved in the education of young people. The following month Chapman began hosting a weekly TV show in Russia called Secrets of the World and in June of 2011 she was appointed as editor of Venture Business News magazine. In 2012, the FBI released information that Anna Chapman attempted to snare a senior member of President Barack Obama's cabinet, in what was termed a “Honey Trap.” After the 2008 financial meltdown, sources suggest that Anna may have targeted the dapper Peter Orzag, who was divorced in 2006 and served as Special Assistant to the President, for Economic Policy. Between 2007 and 2010 he was involved in the drafting of the federal budget for the Obama Administration and may have been an appealing target to the FSB, the Russian Intelligence Agency. During Orzag’s time as a federal employee, he frequently came to New York City, where associating with Anna could have been a natural fit, considering her financial and economics background. Coincidently, Orzag resigned from his federal position the same month that Chapman was arrested. Following this, Orzag took a job at Citigroup as Vice President of Global Banking. In 2009, he fathered a child with his former girlfriend, Claire Milonas, the daughter of Greek shipping executive, Spiros Milonas, chairman and President of Ionian Management Inc. In September of 2010, Orzag married Bianna Golodryga, the popular news and finance anchor at Yahoo and a contributor to MSNBC's Morning Joe. She also had co-anchored the weekend edition of ABC's Good Morning America. Not surprisingly Bianna was born in in Moldova, Soviet Union, and in 1980, her family moved to Houston, Texas. She graduated from the University of Texas at Austin, with a degree in Russian/East European & Eurasian studies and has a minor in economics. They have two children. Yes, she is fluent in Russian! Presently Orszag is a banker and economist, and a Vice Chairman of investment banking and Managing Director at Lazard.

On the sale of Essence Communications Inc: "What I would first learn is something that Suzanne de Passe, the legendary Hollywood producer who headed Motown Productions, commented on thirty years ago when there was talk of Motown being sold: 'In a certain way black people seem to feel that black companies owe them something extra, the kind of something extra that cannot be given if you want to stay in business.

Roger Berkowitz, CEO of Legal Sea Foods—a $215-million company with over four thousand employees—explained in an interview with Inc. magazine how his work style depends on the forces of nagging. “People who want me to do something . . . have to remind me repeatedly,” he explained. “It’s management by being nagged.” The reliance on—and even the encouragement of—nagging may at first appear bothersome. It may be annoying to be constantly reminded about something while trying to immerse yourself in a creative project. However, amidst the chaos of meetings and trying to prioritize the elements of multiple projects, nagging from others helps you prioritize by natural selection. When someone is consistently bothering you about something, chances are you have become a bottleneck in the team’s productivity.

Once you’re aware of the suitcase/handle problem, you’ll see it everywhere. People glom onto words and stories that are often just stand-ins for real action and meaning. Advertisers look for words that imply a product’s value and use that as a substitute for value itself. Companies constantly tell us about their commitment to excellence, implying that this means they will make only top-shelf products. Words like quality and excellence are misapplied so relentlessly that they border on meaningless. Managers scour books and magazines looking for greater understanding but settle instead for adopting a new terminology, thinking that using fresh words will bring them closer to their goals.

No crowd of millions ever banged down the door of Time magazine and demanded, “We want a president who’s a good beer companion.

However, as Rogers knew, 20/20 foresight is not a gift granted to most investors. No matter how confident we feel, there’s no way to find out whether a stock will go up until after we buy it. Therefore, the stock you think is “the next Microsoft” may well turn out to be the next MicroStrategy instead. (That former market star went from $3,130 per share in March 2000 to $15.10 at year-end 2002, an apocalyptic loss of 99.5%).1 Keeping your money spread across many stocks and industries is the only reliable insurance against the risk of being wrong. But diversification doesn’t just minimize your odds of being wrong. It also maximizes your chances of being right. Over long periods of time, a handful of stocks turn into “superstocks” that go up 10,000% or more. Money Magazine identified the 30 best-performing stocks over the 30 years ending in 2002—and, even with 20/20 hindsight, the list is startlingly unpredictable. Rather than lots of technology or health-care stocks, it includes Southwest Airlines, Worthington Steel, Dollar General discount stores, and snuff-tobacco maker UST Inc.2 If you think you would have been willing to bet big on any of those stocks back in 1972, you are kidding yourself.

Rae Ripple is a Texas welder and artist and has been featured on the Down to Business podcast, Monster Garage on Discovery Channel, and has been published in Welder magazine. She is partnered with AlumaReel, Hypertherm, Lincoln Electric, FastCut CNC, Flame Technologies Inc., and Benchmark Abrasives. She has painted murals all over Texas and has installed metal work all over the world. She currently lives in Big Spring, Texas, with her fiancé and two children.

From an actionable information standpoint, I consume a maximum of one-third of one industry magazine (Response magazine) and one business magazine (Inc.) per month, for a grand total of approximately four hours. That’s it for results-oriented reading. I read an hour of fiction prior to bed for relaxation.

In an op-ed in Inc. magazine, Thomas Goetz explains the difficulties that Iodine and other startups in the United States have had in their efforts to revolutionize health care: Unlike so many other industries, health care has proved allergic to upstarts that would emerge, uncork a radically new model, and push the incumbents aside. There are many reasons for this, but most boil down to “health care is different.” It’s highly regulated, which makes rapid transformation difficult. The incumbents are massive enterprises with multiple services, so challenging them is nearly impossible. It isn’t a market-driven industry that responds to better, cheaper, faster. You can’t price-shop. The government is the biggest customer. All the incentives are misaligned.

$20M in sales, our leadership team was dysfunctional and divided. Prior to this, our culture had earned several “Best Places to Work” accolades, and our performance was repeatedly acknowledged by Inc. Magazine’s, Inc. 5000 award, and Ernst & Young honored our success as a finalist for their Entrepreneur of the year award.