Starting A New Venture Quotes

So here I am, in the middle way, having had twenty years- Twenty years largely wasted, the years of l'entre deux guerres- Trying to use words, and every attempt Is a wholy new start, and a different kind of failure Because one has only learnt to get the better of words For the thing one no longer has to say, or the way in which One is no longer disposed to say it. And so each venture Is a new beginning, a raid on the inarticulate, With shabby equipment always deteriorating In the general mess of imprecision of feeling, Undisciplined squads of emotion. And what there is to conquer By strength and submission, has already been discovered Once or twice, or several times, by men whom one cannot hope To emulate - but there is no competition - There is only the fight to recover what has been lost And found and lost again and again: and now, under conditions That seem unpropitious. But perhaps neither gain nor loss. For us, there is only the trying. The rest is not our business.

Claire Waverley has started a successful new venture, Waverley’s Candies. Though her handcrafted confections—rose to recall lost love, lavender to promote happiness and lemon verbena to soothe throats and minds—are singularly effective, the business of selling them is costing her the everyday joys of her family, and her belief in her own precious gifts.

Trying to use words, and every attempt Is a wholly new start, and a different kind of failure Because one has only learnt to get the better of words For the thing one no longer has to say, or the way in which One is no longer disposed to say it. And so each venture Is a new beginning, a raid on the inarticulate With shabby equipment always deteriorating In the general mess of imprecision of feeling,

I would divide the senior executives of the engineering world into two categories, the starters and the runners, the men with a creative instinct who can start a new venture and the men who can run it to make it show a profit.... I was a starter and useless as a runner.

For most entrepreneurs the road is long and challenging. In fact, a good rule of thumb is to estimate how much time and energy you think you’ll need to invest in your new venture and then double that number. Still interested?

Investors who focus on currencies, bonds, and stock markets generally assume a normal distribution of price changes: values jiggle up and down, but extreme moves are unusual. Of course, extreme moves are possible, as financial crashes show. But between 1985 and 2015, the S&P 500 stock index budged less than 3 percent from its starting point on 7,663 out of 7,817 days; in other words, for fully 98 percent of the time, the market is remarkably stable.

people may recognize one founder as the innovator, but it takes a team to make a new venture work.

If you want to venture into an unknown zone. Get a map before you start, or trust someone who has been there. There's no third way.

So here I am, in the middle way, having had twenty years— Twenty years largely wasted, the years of l'entre deux guerres Trying to learn to use words, and every attempt Is a wholly new start, and a different kind of failure Because one has only learnt to get the better of words For the thing one no longer has to say, or the way in which One is no longer disposed to say it. And so each venture Is a new beginning, a raid on the inarticulate With shabby equipment always deteriorating In the general mess of imprecision of feeling, Undisciplined squads of emotion.

No one funds a mere idea, especially if you are looking at venture capital. Funding is made to something that has proven a small part of a business model or proven a business model on a small scale.

You should focus relentlessly on something you’re good at doing, but before that you must think hard about whether it will be valuable in the future. For the startup world, this means you should not necessarily start your own company, even if you are extraordinarily talented. If anything, too many people are starting their own companies today. People who understand the power law will hesitate more than others when it comes to founding a new venture: they know how tremendously successful they could become by joining the very best company while it’s growing fast. The power law means that differences between companies will dwarf the differences in roles inside companies. You could have 100% of the equity if you fully fund your own venture, but if it fails you’ll have 100% of nothing. Owning just 0.01% of Google, by contrast, is incredibly valuable (more than $35 million as of this writing).

Challenging situations can be uncomfortable, particularly if they involve stepping out of your comfort zone to learn a new skill or kick-start a new venture. But those are the times that will carry you through future difficulties.

less than 1% of new businesses started each year in the U.S. receive venture funding, and total VC investment accounts for less than 0.2% of GDP. But the results of those investments disproportionately propel the entire economy. Venture-backed companies create 11% of all private sector jobs. They generate annual revenues equivalent to an astounding 21% of GDP. Indeed, the dozen largest tech companies were all venture-backed. Together those 12 companies are worth more than $2 trillion, more than all other tech companies combined.

Yet I was appalled. For at the same time, such a violent act, even though well provoked and not entirely unheard of, was rare and shocking enough so as to make it likely that an atmosphere of suspicion would close in upon Negroes in general. The gossip would get started: God durned niggers gittin’ so they hit back. I was deeply afraid that with such feelings prevalent, our Negroes would become unsettled by the overall mistrust and lose heart for the venture or—even worse—would under this new pressure somehow give away our great secret.

There were the venture capitalists, who’d gotten in early, watched the tokens they bought climb to ludicrous heights, and now believed they could predict the future. There were the founders of crypto start-ups, who’d raised so many millions of dollars that they seemed to believe their own far-fetched pitches about creating the future of finance. Then there were the programmers, who were so caught up with their clever ideas about new things to do inside the crypto world that they never paused to think about whether the technology did anything useful.

What the Soviet émigrés brought with them is symptomatic of what Israeli venture capitalist Erel Margalit believes can be found in a number of dynamic economies. “Ask yourself, why is it happening here?” he said of the Israeli tech boom. We were sitting in a trendy Jerusalem restaurant he owns, next to a complex he built that houses his venture fund and a stable of start-ups. “Why is it happening on the East Coast or the West Coast of the United States? A lot of it has to do with immigrant societies. In France, if you are from a very established family, and you work in an established pharmaceutical company, for example, and you have a big office and perks and a secretary and all that, would you get up and leave and risk everything to create something new? You wouldn’t. You’re too comfortable. But if you’re an immigrant in a new place, and you’re poor,” Margalit continued, “or you were once rich and your family was stripped of its wealth—then you have drive. You don’t see what you’ve got to lose; you see what you could win. That’s the attitude we have here—across the entire population.

They teach that having a story may be the most important part of your new venture; that fear can be useful; that having vast resources is not as critical as you might think; that simplicity is a core goal in successful enterprises; that trust is the most important quality you bring to your company; and, finally, that giving may be the best investment you’ll ever make.

But the order in which these sources will be discussed is not arbitrary. They are listed in descending order of reliability and predictability. For, contrary to almost universal belief, new knowledge – and especially new scientific knowledge – is not the most reliable or most predictable source of successful innovations. For all the visibility, glamour, and importance of science-based innovation, it is actually the least reliable and least predictable one. Conversely, the mundane and unglamorous analysis of such symptoms of underlying changes as the unexpected success or the unexpected failure carry fairly low risk and uncertainty. And the innovations arising therefrom have, typically, the shortest lead time between the start of a venture and its measurable results, whether success or failure.

Human beings are responsible for art, science, medicine, education, the Sistine Chapel, Handel’s Messiah, New York City, space travel, the novel, photography, and Mexican food — I mean, who doesn’t love Mexican food? But we’re also responsible for a world with 27 million slaves, blatant racism, the Holocaust, Hiroshima, the genocide in Rwanda, ISIS, the financial meltdown of 2008, pornography, global warming, the endangered-species list, and don’t even get me started on pop music. So we humans are a mixed bag. We have a great capacity — more than we know — to rule in a way that is life-giving for the people around us and the place we call home, or to rule in such a way that we exploit the earth itself and rob people of an environment where they can thrive. This was God’s risk. His venture. His experiment.

We've known each other for years." "In every sense of the word." Tanya gave him a nudge and they shared another laugh. In every sense of the word... Daisy felt a cold stab of jealousy at their intimate moment. It didn't make sense. Her relationship with Liam wasn't real. But the more time she spent with him, the more the line blurred and she didn't know where she stood. "Daisy is a senior software engineer for an exciting new start-up that's focused on menstrual products," Liam said. "She's in line for a promotion to product manager. The company couldn't run without her." Daisy grimaced. "I think that's a bit of an exaggeration." "Take the compliment," Tanya said. "Liam doesn't throw many around... At least, he didn't used to." At least, he didn't used to... Was the bitch purposely trying to goad her with little reminders about her shared past with Liam? Daisy's teeth gritted together. Well, she got the message. Tanya was a cool, bike-riding, smooth-haired venture capitalist ex who clearly wasn't suffering in any way after her journey. She was probably so tough she didn't need any padding in her seat. Maybe she just sat on a board or the bare steel frame. Liam ran a hand through his hair, ruffling the dark waves into a sexy tangle. Was he subconsciously grooming himself for Tanya? Or was he just too warm? "What are you riding now?" "Triumph Street Triple 675. I got rid of the Ninja. Not enough power." "You like the naked styling?" Liam asked. Tanya smirked. "Naked is my thing, as you know too well." Naked is my thing... As you know too well... Daisy tried to shut off the snarky voice in her head, but something about Tanya set her possessive teeth on edge. "Do you want to join us inside?" Liam asked. "We're going to have a coffee before we finish the loop." Say no. Say no. Say no. "Sounds good." Tanya took a few steps and looked back over her shoulder. "Do you need a hand, Daisy?" Only to slap you.

What motivates Olympic athletes to train for years for one event—in some cases, for just seconds of actual competition? It’s the same thing that kept my friend Pete nosing around old bookstores for years. It’s the same thing that makes a person venture out of a comfortable job to start a new business. We see it in the artist who spends day after day in a studio chipping away at a block of stone. Look closely and you’ll find it in the shopper who passes up the good deal in search of the best deal. It’s one of the things that makes us most human. We consciously pursue what we value. It’s not simply a matter of being driven by biology or genetics or environmental conditioning to satisfy instinctive cravings. Rather, we perceive something, prize it at a certain value, then pursue it according to that assigned value because we were created that way. This ability to perceive, prize, and pursue is part of our essential humanness, and it’s the essence of ambition.

Let’s consider another similar story — the dating website Plenty of Fish. German programmer Markus Frind started the company in 2003 as a programming exercise. He had been wanting to learn a new coding language called ASP.NET, so he built the site in two weeks — and to his surprise, it took off. Frind never raised a dime of outside money, because the venture was profitable from the beginning. “I didn’t see the need to raise money because I wouldn’t know what to do with it,” he said in a 2015 interview with Business Insider. “It was a profitable company, and there was no need to raise money.”3 Plenty of Fish grew slowly and organically for more than 10 years, eventually growing to about 75 employees and 90 million registered users. In 2015, Match Group (which also owns dating sites Match.com and OKCupid) bought Plenty of Fish for $575 million. “It wasn’t like I had a plan to create a dating site,” Frind said. “It was just a side project I created that got really big.” Not bad for what started as a hobby.

No one can or will ever replace the love Andy, you, and I shared, but life goes on and we have to flow with it. I completed my postgraduate fashion design at the Royal College of Art, London in 1977; I then worked for Liberty of London for a few years before venturing into designing my own bridal wear collections for several major London department stores. In 1979, the Hong Kong Polytechnic now a university invited me to teach fashion design at their clothing and textile institute. Andy and I separated in 1970. He left for New Zealand to pursue engineering while I stayed in London to complete my fashion studies. Those early years of our separation were extremely difficult for the both of us. As you are well aware, we were very close at boarding school. After your departure to Vienna, Andy and I were inseparable. He asked me to join him permanently in Christchurch, but I was determined to enroll in a London fashion school. We corresponded for a couple of years before mutually deciding that it was best to severe ties and start afresh.

overcome. Seth Godin calls these inevitable obstacles The Dip. In his brilliant little book of the same name, he describes the intricacies of knowing when to quit and when to stick—and why it’s so important to learn how to do this effectively. Seth gives a pertinent example of the entrepreneur-wannabe: Do you know an entrepreneur-wannabe who is on his sixth or twelfth new project? He jumps from one to another, and every time he hits an obstacle, he switches to a new, easier, better opportunity. And while he’s a seeker, he’s never going to get anywhere. He never gets anywhere because he’s always switching lines, never able to really run for it. While starting up is thrilling, it’s not until you get through the Dip that your efforts pay off. Countless entrepreneurs have perfected the starting part, but give up long before they finish paying their dues. The sad news is that when you start over, you get very little credit for how long you stood in line with your last great venture.[31] Quitting isn’t always bad, but it needs to be done for the right reasons, and never for the wrong ones. It’s never black and white, but it always comes back to passion. Read The Dip. It will help.

Revitalized and healthy, I started dreaming new dreams. I saw ways that I could make a significant contribution by sharing what I’ve learned. I decided to refocus my legal practice on counseling and helping start-up companies avoid liability and protect their intellectual property. To share some of what I know, I started a blog, IP Law for Startups, where I teach basic lessons on trade secrets, trademarks, copyrights, and patents and give tips for avoiding the biggest blunders that destroy the value of intellectual assets. Few start-up companies, especially women-owned companies that rarely get venture capital funding, can afford the expensive hourly rates of a large law firm to the get the critical information they need. I feel deeply rewarded when I help a company create a strategy that protects the value of their company and supports their business dreams. Further, I had a dream to help young women see their career possibilities. In partnership with my sister, Julie Simmons, I created lookilulu.com, a website where women share their insights, career paths, and ways they have integrated motherhood with their professional pursuits. When my sister and I were growing up on a farm, we had a hard time seeing that women could have rewarding careers. With Lookilulu® we want to help young women see what we couldn’t see: that dreams are not linear—they take many twists and unexpected turns. As I’ve learned the hard way, dreams change and shift as life happens. I’ve learned the value of continuing to dream new dreams after other dreams are derailed. I’m sure I’ll have many more dreams in my future. I’ve learned to be open to new and unexpected opportunities. By way of postscript, Jill writes, “I didn’t grow up planning to be lawyer. As a girl growing up in a small rural town, I was afraid to dream. I loved science, but rather than pursuing medical school, I opted for low-paying laboratory jobs, planning to quit when I had children. But then I couldn’t have children. As I awakened to the possibility that dreaming was an inalienable right, even for me, I started law school when I was thirty; intellectual property combines my love of law and science.” As a young girl, Jill’s rightsizing involved mustering the courage to expand her dreams, to dream outside of her box. Once she had children, she again transformed her dreams. In many ways her dreams are bigger and aim to help more people than before the twists and turns in her life’s path.

Son arrived at Yahoo’s office looking as slight and uncommanding as ever. But he brought a bazooka. In a bid without precedent in the history of the Valley, he proposed to invest fully $100 million in Yahoo. In return he wanted an additional 30 percent of the company. Son’s bid implied that Yahoo’s value had shot up eight times since his investment four months earlier. But the astonishing thing about his offer was the size of his proposed check: Silicon Valley had never seen a venture stake of such proportions.[21] The typical fund raised by a top-flight venture partnership weighed in at around $250 million, and there was no way it would put 40 percent of its resources into a single $100 million wager.[22] Private-equity investors and corporate acquirers sometimes made investments in the $100 million range, but in return they expected to take full control of companies.[23] Son, in contrast, would be a minority investor and on an unheralded scale. Because he had SoftBank’s corporate balance sheet behind him, he could pump in fully one hundred times more capital than Sequoia had provided when Yahoo got started. After Son dropped his bombshell, Yang, Filo, and Moritz sat in silence. Disconcerted, Yang said he was flattered but didn’t need the capital.[24] “Jerry, everyone needs $100 million,” Son retorted.[25]

In fact, the same basic ingredients can easily be found in numerous start-up clusters in the United States and around the world: Austin, Boston, New York, Seattle, Shanghai, Bangalore, Istanbul, Stockholm, Tel Aviv, and Dubai. To discover the secret to Silicon Valley’s success, you need to look beyond the standard origin story. When people think of Silicon Valley, the first things that spring to mind—after the HBO television show, of course—are the names of famous start-ups and their equally glamorized founders: Apple, Google, Facebook; Jobs/ Wozniak, Page/ Brin, Zuckerberg. The success narrative of these hallowed names has become so universally familiar that people from countries around the world can tell it just as well as Sand Hill Road venture capitalists. It goes something like this: A brilliant entrepreneur discovers an incredible opportunity. After dropping out of college, he or she gathers a small team who are happy to work for equity, sets up shop in a humble garage, plays foosball, raises money from sage venture capitalists, and proceeds to change the world—after which, of course, the founders and early employees live happily ever after, using the wealth they’ve amassed to fund both a new generation of entrepreneurs and a set of eponymous buildings for Stanford University’s Computer Science Department. It’s an exciting and inspiring story. We get the appeal. There’s only one problem. It’s incomplete and deceptive in several important ways. First, while “Silicon Valley” and “start-ups” are used almost synonymously these days, only a tiny fraction of the world’s start-ups actually originate in Silicon Valley, and this fraction has been getting smaller as start-up knowledge spreads around the globe. Thanks to the Internet, entrepreneurs everywhere have access to the same information. Moreover, as other markets have matured, smart founders from around the globe are electing to build companies in start-up hubs in their home countries rather than immigrating to Silicon Valley.

Lagos, typically for a nonbusinessman, had a fatal flaw: he thought too small. He figured that with a little venture capital, this neurolinguistic hacking could be developed as a new technology that would enable Rife to maintain possession of information that had passed into the brains of his programmers. Which, moral considerations aside, wasn't a bad idea. "Rife likes to think big. He immediately saw that this idea could be much more powerful. He took Lagos's idea and told Lagos himself to buzz off. Then he started dumping a lot of money into Pentecostal churches. He took a small church in Bayview, Texas, and built it up into a university. He took a smalltime preacher, the Reverend Wayne Bedford, and made him more important than the Pope. He constructed a string of self-supporting religious franchises all over the world, and used his university, and its Metaverse campus, to crank out tens of thousands of missionaries, who fanned out all over the Third World and began converting people by the hundreds of thousands, just like St. Louis Bertrand. L. Bob Rife's glossolalia cult is the most successful religion since the creation of Islam. They do a lot of talking about Jesus, but like many selfdescribed Christian churches, it has nothing to do with Christianity except that they use his name. It's a postrational religion. "He also wanted to spread the biological virus as a promoter or enhancer of the cult, but he couldn't really get away with doing that through the use of cult prostitution because it is flagrantly anti-Christian. But one of the major functions of his Third World missionaries was to go out into the hinterlands and vaccinate people -- and there was more than just vaccine in those needles. "Here in the First World, everyone has already been vaccinated, and we don't let religious fanatics come up and poke needles into us. But we do take a lot of drugs. So for us, he devised a means for extracting the virus from human blood serum and packaged it as a drug known as Snow Crash.

Little Nicky heads to the Badlands to see the show for himself. The Western Roads are outside his remit as a U.S. Treasury agent, but he knows the men he wants are its denizens. Standing on the corner of the Great Western and Edinburgh Roads, a sideshow, a carnival of the doped, the beaten, and the crazed. He walks round to the Avenue Haig strip and encounters the playground of Shanghai’s crackpots, cranks, gondoos, and lunatics. He’s accosted constantly: casino touts, hustling pimps, dope dealers; monkeys on chains, dancing dogs, kids turning tumbles, Chinese ‘look see’ boys offering to watch your car. Their numbers rise as the Japs turn the screws on Shanghai ever tighter. Half-crazy American missionaries try to sell him Bibles printed on rice paper—saving souls in the Badlands is one tough beat. The Chinese hawkers do no better with their porno cards of naked dyed blondes, Disney characters in lewd poses, and bare-arsed Chinese girls, all underage. Barkers for the strip shows and porno flicks up the alleyways guarantee genuine French celluloid of the filthiest kind. Beggars abound, near the dealers and bootleggers in the shadows, selling fake heroin pills and bootleg samogon Russian vodka, distilled in alleyways, that just might leave you blind. Off the Avenue Haig, Nicky, making sure of his gun in its shoulder holster, ventures up the side streets and narrow laneways that buzz with the purveyors of cure-all tonics, hawkers of appetite suppressants, male pick-me-ups promising endless virility. Everything is for sale—back-street abortions and unwanted baby girls alongside corn and callus removers, street barbers, and earwax pickers. The stalls of the letter writers for the illiterate are next to the sellers of pills to cure opium addiction. He sees desperate refugees offered spurious Nansen passports, dubious visas for neutral Macao, well-forged letters of transit for Brazil. He could have his fortune told twenty times over (gypsy tarot cards or Chinese bone chuckers? Your choice). He could eat his fill—grilled meat and rice stalls—or he could start a whole new life: end-of-the-worlders and Korean propagandists offer cheap land in Mongolia and Manchukuo.

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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.

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But the flock of Silicon Valley unicorns had grown so large that Benioff himself had become nervous. The kind of rapid expansion that venture capital made possible wasn’t sustainable without discipline. In the middle of the decade, Benioff had issued a warning: “There’s going to be a lot of dead unicorns.” Neumann had begun pitching WeWork as a new breed of SaaS business: “space as a service.” The idea was that companies of all sizes would no longer handle their own real estate portfolios but would instead turn over the management of their physical space to WeWork, transforming the company into something like a real estate cloud—a “platform.” This was a goal shared by every ambitious start-up of the decade, no matter how specious the claim. Facebook, Uber, and Airbnb identified as platforms, as did Beyond Meat, the pea-protein burger maker (“plant-based-product platforms”); Peloton, the indoor exercise bike company (“the largest interactive fitness platform in the world”); and Casper, the mattress company (a “platform built for better sleep”). It was no longer good enough for companies to simply be what they were.

As most new businesses fail, saying start-ups have a very high rate of failure is by itself not particularly revelatory. But a start-up is not a small business. A start-up is designed from the beginning to either become very big or completely fail—the modern-day equivalent of an uncertain, cross-ocean voyage to the New World as opposed to, say, a predictable, moderately profitable seventeenth-century trading voyage from London to Amsterdam. Stakeholders in a start-up are more interested in increasing the potential magnitude of a spectacular outcome than in bettering the probability of modest returns. Thus, the financial ecosystem’s willingness to accept a high risk of capital loss made venture capital accessible to outliers and eccentrics.

Israel has more companies registered on the NASDAQ and the New York Stock Exchange than any other country in the world per capita, more start-ups per capita, more academic papers in the field of medicine per capita, and more venture capital funds per capita.

Dare to break new ground. Venture out of your comfort zone. Your prize lies beyond the horizons but starts within you.

The deep work paid off. Benn quickly landed a job as a developer at a San Francisco tech start-up with $25 million in venture funding and its pick of employees. When Benn quit his job as a financial consultant, only half a year earlier, he was making $40,000 a year. His new job as a computer developer paid $100,000—an amount that can continue to grow, essentially without limit in the Silicon Valley market, along with his skill level.

Over a generation, America has grappled with one problem after another that could be said to have contributed to the decay of its politics and many people’s livelihoods. The American social contract has frayed, and workers’ lives have grown more precarious, and mobility has slowed. These are hard and important problems. The new winners of the age might well have participated in the writing of a new social contract for a new age, a new vision of economic security for ordinary people in a globalized and digitized world. But as we’ve seen, they actually made the situation worse by seeking to bust unions and whatever other worker protections still lingered and to remake more and more of the society as an always-on labor market in which workers were downbidding one another for millions of little fleeting gigs. “Any industry that still has unions has potential energy that could be released by start-ups,” the Silicon Valley venture capitalist Paul Graham once tweeted. As America’s level of inequality spread to ever more unmanageable levels, these MarketWorld winners might have helped out. Looking within their own communities would have told them what they needed to know. Doing everything to reduce their tax burdens, even when legal, stands in contradiction with their claims to do well by doing good. Diverting the public’s attention from an issue like offshore banking worsens the big problems, even as these MarketWorlders shower attention on niche causes. As life expectancy declined among large subpopulations of Americans, winners possessed of a sense of having arrived might have chipped in. They might have taken an interest in the details of a health care system that was allowing the unusual phenomenon of a developed country regressing in this way, or in the persistence of easily preventable deaths in the developing world. They might not have thought of themselves at all, given how long they were likely to live because of their tremendous advantages. “It seems pretty egocentric while we still have malaria and TB for rich people to fund things so they can live longer,” Bill Gates has said.

You may feel sexual energy moving through your entire body in waves during meditation (or at any time— even unprovoked), filling in and activating the lower energy centers with desire. And since imagination is in you all the time and is part of who you are, for reasons other than having sex, you should harness it. There's a big difference between having an "erotic life" and having a "sex life." Having sex or an orgasm isn't even half of what erotic energy means to be energized. It can potentially decrease the energy released by sexual activity. When you don't use orgasm to disburse sexual energy, it builds up and eventually transforms into creative expression and makes you do something you may not have had the ability or boldness to do before. The trick is to harness the emotion instead of allowing it to control your actions or turn you into a slave to your sex drive. I do not suggest you repress or resist sexual urges— that action is fear-based or guilt-driven, which serves no other useful purpose than to cause frustration that slows spiritual advancement. Instead, channel your strength and infuse it into all you do. Your mission to work and life can be inspired, and your family and friendships can be positively influenced as you interact from a love-filled heart that is activated by sexual energy. It can bring bliss, creativity, and joy from grocery shopping to writing a blog post, as it invites you to enjoy the present moment. It's like being drunk or drugged under the influence of sexual energy; it can inspire you to take risks and do things you wouldn't otherwise do. It can lessen the fear that you might feel in a business venture or some other opportunity to take the next step. Before you can channel strong sexual energy to other beneficial pursuits, the energy in your personal space and body must be able to hold and flow in. This can be done as you connect in the present moment to your sacred heart center, without being distracted by the mind's constant chatter. When you feel sexual energy stirring inside you, stay in an awareness space, and feel it as it flows through your body. Note how it pulsates, and give you a sense of strength. Contain it simply and enable it to revitalize and heal the body, lift depression, open blockages, dissolve sexual hang-ups, and spark new ideas. As you hold this powerful presence, you can start by using thought or intention to direct the energy toward some creative endeavor. Ultimately the energy is inside you and can be activated without another person's influence. Yet tantric exploration, practicing heart connection, or sending / receiving energy with another person can increase this energy flow even more and bring euphoric pleasure to the whole body and emotions.

Software,” as the venture capitalist Marc Andreessen has proclaimed, “is eating the world.” It’s true. You use software nearly every instant you’re awake. There’s the obvious stuff, like your phone, your laptop, email and social networking and video games and Netflix, the way you order taxis and food. But there’s also less-obvious software lurking all around you. Nearly any paper book or pamphlet you touch was designed using software; code inside your car helps manage the braking system; “machine-learning” algorithms at your bank scrutinize your purchasing activity to help spy the moment when a criminal dupes your card and starts fraudulently buying things using your money. And this may sound weirdly obvious, but every single one of those pieces of software was written by a programmer—someone precisely like Ruchi Sanghvi or Mark Zuckerberg. Odds are high the person who originally thought of the product was a coder: Programmers spend their days trying to get computers to do new things, so they’re often very good at understanding the crazy what-ifs that computers make possible. (What if you had a computer take every word you typed and, quietly and constantly and automatically in the background, checked it against a dictionary of common English words? Hello, spell-check!) Sometimes it seems that the software we use just sort of sprang into existence, like grass growing on the lawn. But it didn’t. It was created by someone who wrote out—in code—a long, painstaking set of instructions telling the computer precisely what to do, step-by-step, to get a job done. There’s a sort of priestly class mystery cultivated around the word algorithm, but all they consist of are instructions: Do this, then do this, then do this. News Feed is now an extraordinarily complicated algorithm involving some trained machine learning; but it’s ultimately still just a list of rules. So the rule makers have power. Indeed, these days, the founders of high-tech companies—the ones who determine what products get created, what problems get solved, and what constitutes a “problem” in the first place—are increasingly technologists, the folks who cut their teeth writing endless lines of code and who cobbled together the prototype for their new firm themselves. Programmers are thus among the most quietly influential people on the planet.

The idea was for the government to invest $100 million to create ten new venture capital funds. Each fund had to be represented by three parties: Israeli venture capitalists in training, a foreign venture capital firm, and an Israeli investment company or bank. There was also one Yozma fund of $20 million that would invest directly in technology companies. The Yozma program initially offered an almost one-and-a-half-to-one match. If the Israeli partners could raise $12 million to invest in new Israeli technologies, the government would give the fund $8 million. There was a line around the corner. So the government raised the bar. It required VC firms to raise $16 million in order to get the government’s $8 million. The real allure for foreign VCs, however, was the potential upside built into this program. The government would retain a 40 percent equity stake in the new fund but would offer the partners the option to cheaply buy out that equity stake—plus annual interest—after five years, if the fund was successful. This meant that while the government shared the risk, it offered investors all of the reward. From an investor’s perspective, it was an unusually good deal.

At some point, though, process starts to take over. It becomes so entrenched that it can trump common sense and cause executives to, as our head of business operations, Kristen Gil, says, “lose muscle memory.” People stop thinking and instead just depend on the process to make decisions for them. As process gets better, judgment can weaken. It’s like there is a big pendulum in companies, swinging from centralized control and consistency on one side to decentralized chaos on the other. In a big company, that pendulum always pulls toward the control side. But a start-up, or any new venture that is trying to do something big and new, favors the chaos. Start-ups don’t run on process, they run on ideas, passion, and a common set of goals. They don’t wait for the meeting to make decisions. Dependence on process, no matter how well intentioned, squelches start-ups and the start-up spirit.

About fifteen percent of all startups are created by company employees who find themselves in a spin-out situation, where an existing company chooses to dispose of a line of business that it has determined is no longer within their core mission or perhaps is not worthy of the additional investment needed to achieve real success and scale. Other employees, who become frustrated by their employer’s lack of support for an idea, product, or service that the employee believes could improve the company’s future, strike out on their own to turn that spurned idea into a new venture. And others, sometimes called discovery entrepreneurs, typically university scientists, start great companies using the new ideas that grew out of their years of research. The five-year success rates for spin-out and discovery entrepreneurs is about forty percent.

Equipped with this framework, you can map the tech ecosystem to the political ecosystem. You can analogize tech founders to political activists, venture capitalists to political philanthropists, tech

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Under such a state of stimulation, any task that requires concentration becomes much harder to perform. As a result, you will procrastinate. You delay writing that book you’ve always planned. You put off starting that new venture, or you’ll postpone that key project you’re in charge of.

We entrepreneurs like to be hands-on, but sometimes the best way you can Repeat success with your new venture is to identify the people who can run something for you. The great thing about finding those DIY-ers back in Start is that they’re generally people with an entrepreneurial spirit. If they have never been entrepreneurs before, now may be the time you help them become one.

Who has the specific set of skills to take over the core company or to lead the new venture? Constantly profiling to find the gems within a company has been my key to success with the next company.

The evidence summarized in this matrix may be of some use to venture capital investors, as a general way to frame the riskiness of proposed investments. It suggests that start-ups which propose to commercialize a breakthrough technology that is essentially sustaining in character have a far lower likelihood of success than start-ups whose vision is to use proven technology to disrupt an established industry with something that is simpler, more reliable, and more convenient.

We couldn’t stop following the news. Every ten seconds we refreshed our browsers and gawked at the headlines. Dully we read blogs of friends of friends of friends who had started an organic farm out on the Wichita River. They were out there pickling and canning and brewing things in the goodness of nature. And soon we’d worry it was time for us to leave the city and go. Go! To Uruguay or Morocco or Connecticut? To the Plains or the Mountains or the Bay? But we’d bide our time and after some months or years, our farmer friends would give up the farm and begin studying for the LSATs. We felt lousy about this, and wonderful. We missed getting mail. We wondered why we even kept those tiny keys on our crowded rings. Sometimes we would send ourselves things from the office. Sometimes we would handwrite long letters to old loved ones and not send them. We never knew their new address. We never knew anyone’s address, just their cross streets and what their doors looked like. Which button to buzz, and if the buzzers even worked. How many flights to climb, and which way to turn off the stairs. Sometimes we missed those who hadn’t come to the city with us— or those who had gone to other, different cities. Sometimes we journeyed to see them, and sometimes they ventured to see us. Those were the best of times, for we were all at home and not at once. Those were the worst of times, for we inevitably longed to all move here or there, yet no one ever came— somehow everyone only left. Soon we were practically all alone. Soon we began to hate the forever cramping of our lives. Sleeping on top of strangers and sipping coffee with people we knew we knew but couldn’t remember where from. Living out of boxes we had no space to unpack. Soon we named the pigeons roosting in our windowsills; we worried they looked mangier than the week before. We heard bellowing in the apartments below us and bedsprings creaking in the ones above. Everywhere we saw people with dogs and wodnered how they managed it. Did they work form home?Did they not work? Had they gone to the right schools? Did they have connections? We had no connections. Our parents were our guarantors in name only; they called us from their jobs in distant, colorless, suburban office parks and told us we could come home anytime, and this terrified us always. But then came those nights, creeping up on us while we worked busily in dark offices, like submariners lost at sea, sailing through the dark stratosphere in our cement towers. We’d call each other to report: a good thing happened, a compliment had been paid, a favor had been appreciated, an inch of ground had been gained. We wouldn’t trade those nights for anything or anywhere. Those nights, we remembered why we came to the city. Because if we were really living, then we wanted to hear the cracking in our throats and feel the trembling in our extremities. And if our apartments were coffins and our desks headstones and our dreams infections— if we were all slowly dying — then at least we were going about that great and terrible business together.

Whatever variant of freedom is espoused, a basic income would enhance it. However, in the liberal tradition a basic income would be both necessary and sufficient, if judged high enough to meet basic needs. In the republican tradition, however, basic income would be necessary but not sufficient; other institutions and policies would be needed properly to advance freedom. A basic income would strengthen the following prosaic or day-to-day freedoms: — the freedom to refuse a job that is onerous, boring, low-paying or just nasty; — the freedom to accept a job that is none of the above but which could not be accepted if financial necessity dictated; — the freedom to stay in a job that pays less than previously or that has become more financially insecure; — the freedom to start a small-scale business venture, which is risky but potentially rewarding; — the freedom to do care work for a relative or friend, or voluntary work in and for the community, that might not be feasible if financial necessity required long hours of paid labour; — the freedom to do creative work and activities of all kinds; — the freedom to risk learning new skills or competences; — the freedom from bureaucratic interference, prying and coercion; — the freedom to form relationships and perhaps set up ‘home’ with someone, often precluded today by financial insecurity; — the freedom to leave a relationship that has turned sour or abusive; — the freedom to have a child; — the freedom to be lazy once in a while, a vital freedom to which we will return. Would alternative social policies do as well on any of these counts? At the very least, a social protection policy should be neutral on behavioural freedom, not moralistic, directive, coercive or punitive. The

There’s a country that does something a little like this. Its young people, including its very best educational prospects from all different backgrounds, spend two or three years training and solving problems in a nonhierarchical environment and get together every year. Many then collaborate to start companies. This country leads the world in venture capital investments per capita (over $170, versus $75 in the United States in 2010).1 It has more companies on the NASDAQ than any non-US country except for China, despite having a population of less than eight million.2 Its quarterly gross domestic product (GDP) growth rate was above 5 percent in 2011 and it’s in the top thirty globally in per capita GDP, above Spain and Saudi Arabia, among others.3 This country is Israel, where eighteen-year-olds complete two- or three-year tours in the military, getting to know each other in highly selective military units. They operate at a high level of autonomy and responsibility and then travel the world for months before heading to college and/or grad school. In Dan Senor and Saul Singer’s book Start-up Nation, this network and training ground is credited as helping give rise to a culture of risk taking and entrepreneurship. By the time Israelis graduate from college, they’re in their midtwenties and mature; in many cases, they’ve already been in operating environments and borne life-and-death responsibilities. This cocktail of experience gives rise to a mixture of both courage and impatience. As one entrepreneur put it, “When an Israeli entrepreneur has a business idea, he will start it that week. The notion that one should accumulate credentials before launching a venture simply does not exist. . . . Too much time can only teach you what can go wrong, not what could be transformative.”4 Another observer commented, “Israelis . . .  don’t care about the social price of failure and they develop their projects regardless of the economic . . . situation.”5

Dante is the first Christian poet, the first one whose whole system of thought is colored by a pure Christian theology. But the poem comes nearer to us than this. It is there real history of a brother man, of a tempted, purified, and at last triumphant human soul; it teaches the benign ministry of sorrow. His is the first keel that ever ventured into the silent sea of human consciousness to find a new world of poetry. He held heartbreak at bay for twenty years, and would not let himself die until he had done his task. Neither shall Longfellow. Neither shall I." Lowell turned and started to descend.

Paul Graham is someone who tends to make bold statements about innovation and the economics of technology. He co-founded Y-Combinator and what would later become Yahoo! Store. As someone who studied painting and computer science, he writes from a unique perspective as is displayed in Hackers & Painters and his well-known essays. “How to Start a Startup” offered me a basic toolkit to grasp that people, great execution and understanding what the customer really wants, are more important than a brilliant idea. “Why Smart People Have Bad Ideas” let me know that although some founders can seem promising, they may have simply chosen the wrong problem to solve and it may be best to wait for their next new iteration—or business—entirely.

Getting to fifty-fifty is incredibly complex and nuanced, requiring many detailed solutions that will take decades to fully play out. To accelerate the process, change needs to start at the top. Like Stewart Butterfield, CEOs need to make hiring and retaining women an explicit priority. In addition, here is the bare minimum of what we can do at an individual and a systemic level: First of all, people, be nice to each other. Treat one another with respect and dignity, including those of the opposite sex.That should be pretty simple. Don’t enable assholes. Stop making excuses for bad behavior, or ignoring it. CEOs must embrace and champion the need to reach a fair representation of gender within their companies, and develop a comprehensive plan to get there. Be long-term focused, not short-term. It may take three weeks to find a white man for the job, but three months to find a woman. Those three months could save three years of playing catch-up in the future. Invest in not just diversity but inclusion. Even if your company is small, everything counts. And take the time to educate your employees about why this is important. Companies need to appoint more women to their boards. And boards need to hold company leadership to account to get to fifty-fifty in their employee ranks, starting with company executives. Venture capital firms need to hire more women partners, and limited partners should pressure them to do so and, at the very least, ask them what their plans around diversity are. Investors, both men and women, need to start funding more women and diverse teams, period. LPs need to fund more women VCs, who can establish new firms with new cultural norms. Stop funding partnerships that look and act the same. Most important, stop blaming everybody else for the problem or pretending that it is too hard for us to solve. It’s time to look in the mirror. This is an industry, after all, that prides itself on disruption and revolutionary new ways of thinking. Let’s put that spirit of innovation and embrace of radical change to good use. Seeing a more inclusive workforce in Silicon Valley will encourage more girls and women studying computer science now.

Meanwhile, on Raghav’s wish list was a film company. He was a Hindi film buff, but he was not in any way star-struck. He simply thought it was a good business idea, and that the time was right. Vandana, who had a lot of connections in the film industry, was to be a part of the venture. Raghav launched the film company as a personal venture, though TV18 was a minority investor, with a holding of 20 per cent. In June, the Indian Film Company raised Rs 400 crore at London’s Alternative Investment Market, much to Raghav’s amazement. ‘Almost any guy with even half a track record and a gleam of new economy, media or technology in his eye could go to London, float a company which hardly did anything, probably even if revenues were zero, and pick up equity. We did exactly that with our film fund. We had no track record in the film business. Zero.’ But investors were more than willing to throw money around in 2007.

A Start Up is an institution designed to thrive in the soil of extreme uncertainty

TaskRabbit has 25,000 contractors, about 10 percent of whom rely on it for full-time income. Founded five years ago, the company has almost $38 million in venture backing. Arun Sundararajan, an NYU business professor who studies emerging digital economies, said it's not possible to determine whether the complaints are from a vocal minority or represent widespread dissatisfaction. "It seemed like (the new model) was a necessary shift for TaskRabbit to grow, but they may have underestimated the extent to which providers and clients felt a sense of ownership over doing things the old way," he said. "In any marketplace, the people who are trading start to feel engaged with the process they have learned.

An accurate budget must be built on a base of thorough research. You must do research on your community to find out what it will cost to get a church off the ground. You need to solidly answer questions such as:, What will the cost of living in this community be?, What will my salary be? How about salaries for additional staff?, How much will it cost to rent space for the church to meet in?, How much will it cost to operate a business in this city (office rent, phones, computer equipment, copy equipment, and so on)? Talk with other pastors in the community. Find out what their start-up costs were and what they are currently spending to maintain and operate the church. Other pastors can be a valuable resource for you on many levels. The worst mistake you can make is to start the budget process by viewing economic realities through a rose-colored lens. If you speculate too much or cut corners in this area, you’ll end up paying dearly down the road. Remember, God never intended for you to go it alone. There are people and resources out there to help you prepare. Ask others for help. God receives no glory when you are scraping the bottom to do His work. So don’t think too small. Church planting is an all or nothing venture. You can’t just partially commit. You have to fully commit, and often that means with your wallet. Don’t underestimate the importance of having a base of prayer partners. You need prayers as desperately as you need money. You need prayers as desperately as you need money. An unhealthy launch may occur when a new church begins as the result of a church split, when a planter is disobedient in following God, or when there is a lack of funding or solid strategy. Finding the right teammates to help you on this journey is serious business. The people you bring on to your staff will either propel you down the road toward fulfilling the vision for your church or serve as speed bumps along the way. You should never be afraid to ask potential staff members to join you—even if it means a salary cut, a drastic position change or a significant new challenge for them. When you ask someone to join your staff, you are not asking that person to make a sacrifice. (If you have that mentality, you need to work to change it.) Instead, you are offering that person the opportunity of a lifetime. There are three things that every new church must have before it can be a real church: (1) a lead pastor, (2) a start date, and (3) a worship leader. Hire a person at the part-time level before bringing him or her on full time. When hiring a new staff person, make sure he or she possesses the three C's: Character, Chemistry & Competency Hiring staff precedes growth, not vice versa. Hire slow, fire fast. Never hire staff when you can find a volunteer. Launch as publicly as possible, with as many people as possible. There are two things you are looking for in a start date: (1) a date on which you have the potential to reach as many people as possible, and (2) a date that precedes a period of time in which people, in general, are unlikely to be traveling out of town. You need steppingstones to get you from where you are to your launch date. Monthly services are real services that you begin holding three to six months prior to your launch date. They are the absolute best strategic precursor to your launch. Monthly services give you the invaluable opportunity to test-drive your systems, your staff and, to an extent, even your service style. At the same time, you are doing real ministry with the people in attendance. These services should mirror as closely as possible what your service will look like on the launch date. Let your target demographic group be the strongest deciding factor in settling on a location: Hotel ballrooms, Movie theaters, Comedy clubs, Public-school auditoriums, Performing-arts theaters, Available church meeting spaces, College auditoriums, Corporate conference space.

Director: Sripriya Producer: Rajkumar Sethupathy Screenplay: Aashiq Abu Story: Abhilash Kumar,Shyam Pushkaran Starring: Nithya Menen,Krish J. Sathaar,Naresh Music: Aravind-Shankar Cinematography: Manoj Pillai Editing: Bavan Sreekumar Studio: Rajkumar Theatres Pvt Ltd Sri Priya is back with her new venture titled ‘Malini 22 Palayamkottai’ with actor Krish, son of Malayalam actors Sathar and Jayabharathi. Actor Krish was ready for the negative shades of ‘Malini 22 Palayamkottai’, remake of malayalam film ‘22 Female Kottayam’ when none were ready to play the role with adverse shades. To make a mark in 40th year of Sripriya's venture in Tamil industry, she has come up with a theme carrying crime against women and to reveal the social issues in present scenario through ‘Malini 22 Palayamkottai’ Tamil movie. ‘Malini 22 Palayamkottai’ Tamil film is directed by Sripriya. The revenge thriller movie is produced by Rajkumar Theatres Pvt.ltd. ‘Malini 22 Palayamkottai’ movie casting Nithya Menon, Vidyulekha Raman, Krish J Sathaar and Kota Srinivasa Rao was initially set to release on 13 December, 2013 along with ‘Madha Yaanai Kootam’ and ‘Ivan Vera Mathiri’. However, due to several issues the films release was postponed. Producer Rajkumar Sethupathy’s ‘Malini 22 Palayamkottai’ film is directed and written by his wife Sripriya. ‘Malini 22 Palayamkottai’ Tamil movie has music composed by Aravind-Shankar. Confident producer Rajkumar Sethupathy who has complete faith on his wife Sripriya stated – “My wife has decades of experience in cinema and I myself have starred in several films. While I immersed myself in business, she has remained in touch with the industry taking a brief break to take care of our children. However, with the kids old enough to take care of themselves now, she has the time to get back to the other thing she loves: cinema. She’s already directed a couple of films, but this one is different because of the theme. She watched the original and she asked me to watch it too. I knew right away that if we were going to start our own home productions, this movie was the best way to begin.” Sripriya expressing her thoughts about the film said, ‘Malini 22 Palayamkottai’ was the huff that she had bounded within herself. ‘Malini 22 Palayamkottai’ portrays the exploitation against women and revenge from the gender. However, the revenge thriller flick ‘Malini 22 Palayamkottai’ is set to release on 24 January, 2014.

Peter Drucker challenged executives to capitalize on “unexpected success.” He wrote: When a new venture does succeed, more often than not it is in a market other than the one it was originally intended to serve, with products or services not quite those with which it had set out, bought in large part by customers it did not even think of when it started, and used for a host of purposes besides the ones for which the products were first designed. If a new venture does not anticipate this, organizing itself to take advantage of the unexpected and unseen markets … then it will succeed only in creating an opportunity for a competitor.

But surprisingly, people were significantly more likely to benefit from weak ties. Almost 28 percent heard about the job from a weak tie. Strong ties provide bonds, but weak ties serve as bridges: they provide more efficient access to new information. Our strong ties tend to travel in the same social circles and know about the same opportunities as we do. Weak ties are more likely to open up access to a different network, facilitating the discovery of original leads. Here’s the wrinkle: it’s tough to ask weak ties for help. Although they’re the faster route to new leads, we don’t always feel comfortable reaching out to them. The lack of mutual trust between acquaintances creates a psychological barrier. But givers like Adam Rifkin have discovered a loophole. It’s possible to get the best of both worlds: the trust of strong ties coupled with the novel information of weak ties. The key is reconnecting, and it’s a major reason why givers succeed in the long run. After Rifkin created the punk rock links on the Green Day site for Spencer in 1994, Excite took off, and Rifkin went back to graduate school. They lost touch for five years. When Rifkin was moving to Silicon Valley, he dug up the old e-mail chain and drafted a note to Spencer. “You may not remember me from five years ago; I’m the guy who made the change to the Green Day website,” Rifkin wrote. “I’m starting a company and moving to Silicon Valley, and I don’t know a lot of people. Would you be willing to meet with me and offer advice?” Rifkin wasn’t being a matcher. When he originally helped Spencer, he did it with no strings attached, never intending to call in a favor. But five years later, when he needed help, he reached out with a genuine request. Spencer was glad to help, and they met up for coffee. “I still pictured him as this huge guy with a Mohawk,” Rifkin says. “When I met him in person, he hardly said any words at all. He was even more introverted than I am.” By the second meeting, Spencer was introducing Rifkin to a venture capitalist. “A completely random set of events that happened in 1994 led to reengaging with him over e-mail in 1999, which led to my company getting founded in 2000,” Rifkin recalls. “Givers get lucky.

D’aron the Daring, Derring, Derring-do, stealing base, christened D’aron Little May Davenport, DD to Nana, initials smothered in Southern-fried kisses, dat Wigga D who like Jay Z aw-ite, who’s down, Scots-Irish it is, D’aron because you’re brave says Dad, No, D’aron because you’re daddy’s daddy was David and then there was mines who was named Aaron, Doo-doo after cousin Quint blew thirty-six months in vo-tech on a straight-arm bid and they cruised out to Little Gorge glugging Green Grenades and read three years’ worth of birthday cards, Little Mays when he hit those three homers in the Pee Wee playoff, Dookie according to his aunt Boo (spiteful she was, misery indeed loves company), Mr. Hanky when they discovered he TIVOed ‘Battlestar Galactica,’ Faggot when he hugged John Meer in third grade, Faggot again when he drew hearts on everyone’s Valentine’s Day cards in fourth grade, Dim Dong-Dong when he undressed in the wrong dressing room because he daren’t venture into the dark end of the gym, Philadelphia Freedom when he was caught clicking heels to that song (Tony thought he was clever with that one), Mr. Davenport when he won the school’s debate contest in eighth grade, Faggot again when he won the school’s debate contest in eighth grade, Faggot again more times than he cared to remember, especially the summer he returned from Chicago sporting a new Midwest accent, harder on the vowels and consonants alike, but sociable, played well with others that accent did, Faggot again when he cried at the end of ‘WALL-E,’ Donut Hole when he started to swell in ninth grade, Donut Black Hole when he continued to put on weight in tenth grade (Tony thought he was really clever with that one), Buttercup when they caught him gardening, Hippie when he stopped hunting, Faggot again when he became a vegetarian and started wearing a MEAT IS MURDER pin (Oh yeah, why you craving mine then?), Faggot again when he broke down in class over being called Faggot, Sissy after that, whispered, smothered in sniggers almost hidden, Ron-Ron by the high school debate team coach because he danced like a cross between Morrissey and some fat old black guy (WTF?) in some old-ass show called ‘What’s Happening!!’, Brainiac when he aced the PSATs for his region, Turd Nerd when he hung with Jo-Jo and the Black Bruiser, D’ron Da’ron, D’aron, sweet simple Daron the first few minutes of the first class of the first day of college.

There is a tide in the affairs of men, which, taken at the flood, leads on to fortune . . . We must take the current when it serves, or lose our ventures. William Shakespeare1

Successful entrepreneurial ventures are about serving customers and their needs and resolving their pain. Not just any customers. Target customers. It

My premise is that startups and emerging companies should adopt a new, simple approach—start small, stay lean, raise only the funding you really need, grow the business judiciously and then execute an early exit.

Very innovative companies, such a Twitter, know how important this type of cross-pollination is to creativity in their businesses, and they make an effort to hire people with unusual skills, knowing that diversity of thinking will certainly influence the development of their products. According to Elizabeth Weil, the head of organizational culture at Twitter, a random sampling of people at the company would reveal former rock stars, a Rubik’s cube champion, a world-class cyclist, and a professional juggler. She said that the hiring practices at Twitter guarantee that all employees are bright and skilled at their jobs, but are also interested in other unrelated pursuits. Knowing this results in random conversations between employees in the elevator, at lunch, and in the hallways. Shared interests surface, and the web of people becomes even more intertwined. These unplanned conversations often lead to fascinating new ideas. Elizabeth is a great example herself; she is a top ultramarathon runner, professional designer, and former venture capitalist. Although these skills aren’t required in her day-to-day work at Twitter, they naturally influence the ideas she generates. Her artistic talents have deeply influenced the ways Elizabeth builds the culture at Twitter. For instance, whenever a new employee starts, she designs and prints a beautiful handmade welcome card on her 1923 antique letterpress.

STARTUP THINKING New technology tends to come from new ventures—startups. From the Founding Fathers in politics to the Royal Society in science to Fairchild Semiconductor’s “traitorous eight” in business, small groups of people bound together by a sense of mission have changed the world for the better. The easiest explanation for this is negative: it’s hard to develop new things in big organizations, and it’s even harder to do it by yourself. Bureaucratic hierarchies move slowly, and entrenched interests shy away from risk. In the most dysfunctional organizations, signaling that work is being done becomes a better strategy for career advancement than actually doing work (if this describes your company, you should quit now). At the other extreme, a lone genius might create a classic work of art or literature, but he could never create an entire industry. Startups operate on the principle that you need to work with other people to get stuff done, but you also need to stay small enough so that you actually can. Positively defined, a startup is the largest group of people you can convince of a plan to build a different future. A new company’s most important strength is new thinking: even more important than nimbleness, small size affords space to think. This

It happened in 2006 when the company’s COO and soon-to-be CEO, Randall Stephenson, quietly struck a deal with Steve Jobs for AT&T to be the exclusive service provider in the United States for this new thing called the iPhone. Stephenson knew that this deal would stretch the capacity of AT&T’s networks, but he didn’t know the half of it. The iPhone came on so fast, and the need for capacity exploded so massively with the apps revolution, that AT&T found itself facing a monumental challenge. It had to enlarge its capacity, practically overnight, using the same basic line and wireless infrastructure it had in place. Otherwise, everyone who bought an iPhone was going to start experiencing dropped calls. AT&T’s reputation was on the line—and Jobs would not have been a happy camper if his beautiful phone kept dropping calls. To handle the problem, Stephenson turned to his chief of strategy, John Donovan, and Donovan enlisted Krish Prabhu, now president of AT&T Labs. Donovan picks up the story: “It’s 2006, and Apple is negotiating the service contracts for the iPhone. No one had even seen one. We decided to bet on Steve Jobs. When the phone first came out [in 2007] it had only Apple apps, and it was on a 2G network. So it had a very small straw, but it worked because people only wanted to do a few apps that came with the phone.” But then Jobs decided to open up the iPhone, as the venture capitalist John Doerr had suggested, to app developers everywhere. Hello, AT&T! Can you hear me now? “In 2008 and 2009, as the app store came on stream, the demand for data and voice just exploded—and we had the exclusive contract” to provide the bandwidth, said Donovan, “and no one anticipated the scale. Demand exploded a hundred thousand percent [over the next several years]. Imagine the Bay Bridge getting a hundred thousand percent more traffic. So we had a problem. We had a small straw that went from feeding a mouse to feeding an elephant and from a novelty device to a necessity” for everyone on the planet. Stephenson insisted AT&T offer unlimited data, text, and voice. The Europeans went the other way with more restrictive offerings. Bad move. They were left as roadkill by the stampede for unlimited data, text, and voice. Stephenson was right, but AT&T just had one problem—how to deliver on that promise of unlimited capacity without vastly expanding its infrastructure overnight, which was physically impossible. “Randall’s view was ‘never get in the way of demand,’” said Donovan. Accept it, embrace it, but figure out how to satisfy it fast before the brand gets killed by dropped calls. No one in the public knew this was going on, but it was a bet-the-business moment for AT&T, and Jobs was watching every step from Apple headquarters.

Venture capitalists and investors have bought into the media-driven narrative that younger people are more likely to build great companies. Vinod Khosla, a cofounder of Sun Microsystems and venture capitalist, said, “People under 35 are the people who make change happen . . . people over 45 basically die in terms of new ideas.” Paul Graham, the founder of Y Combinator, the famous start-up accelerator, said that, when a founder is over the age of thirty-two, investors “start to be a little skeptical.” Zuckerberg himself famously said, with his characteristic absence of tact, “Young people are just smarter.” But, it turns out, when it comes to age, the entrepreneurs we learn about in the media are not representative. In a pathbreaking study, a team of economists—Pierre Azoulay, Benjamin F. Jones, J. Daniel Kim, and Javier Miranda (henceforth referred to as AJKM)—analyzed the age of the founder of every business created in the United States between the years 2007 and 2014. Their study included some 2.7 million entrepreneurs, a far broader and more representative sample than the dozens featured in business magazines. The researchers found that the average age of a business founder in the United States is 41.9 years old—in other words, more than a decade older than the average age of founders featured in the media. And older people don’t just start businesses more than many of us realize; they also succeed at creating highly profitable businesses more often than their younger peers do. AJKM used various metrics of success for a business, including staying in business for longer and ranking among the top firms in revenue and employees. They discovered that older founders consistently had higher probabilities of success, at least until the age of sixty.

Third, the idea that venture capitalists get into deals on the strength of their brands can be exaggerated. A deal seen by a partner at Sequoia will also be seen by rivals at other firms: in a fragmented cottage industry, there is no lack of competition. Often, winning the deal depends on skill as much as brand: it’s about understanding the business model well enough to impress the entrepreneur; it’s about judging what valuation might be reasonable. One careful tally concluded that new or emerging venture partnerships capture around half the gains in the top deals, and there are myriad examples of famous VCs having a chance to invest and then flubbing it.[6] Andreessen Horowitz passed on Uber. Its brand could not save it. Peter Thiel was an early investor in Stripe. He lacked the conviction to invest as much as Sequoia. As to the idea that branded venture partnerships have the “privilege” of participating in supposedly less risky late-stage investment rounds, this depends from deal to deal. A unicorn’s momentum usually translates into an extremely high price for its shares. In the cases of Uber and especially WeWork, some late-stage investors lost millions. Fourth, the anti-skill thesis underplays venture capitalists’ contributions to portfolio companies. Admittedly, these contributions can be difficult to pin down. Starting with Arthur Rock, who chaired the board of Intel for thirty-three years, most venture capitalists have avoided the limelight. They are the coaches, not the athletes. But this book has excavated multiple cases in which VC coaching made all the difference. Don Valentine rescued Atari and then Cisco from chaos. Peter Barris of NEA saw how UUNET could become the new GE Information Services. John Doerr persuaded the Googlers to work with Eric Schmidt. Ben Horowitz steered Nicira and Okta through their formative moments. To be sure, stories of venture capitalists guiding portfolio companies may exaggerate VCs’ importance: in at least some of these cases, the founders might have solved their own problems without advice from their investors. But quantitative research suggests that venture capitalists do make a positive impact: studies repeatedly find that startups backed by high-quality VCs are more likely to succeed than others.[7] A quirky contribution to this literature looks at what happens when airline routes make it easier for a venture capitalist to visit a startup. When the trip becomes simpler, the startup performs better.[8]

Metcalfe began to take venture capitalists to lunch and solicit their guidance. “If you want money, you ask for advice. If you want advice, you ask for money,” he reflected shrewdly.[27] His goal was to absorb the VCs’ way of thinking, and before long he noticed a pattern. At some point in each conversation, the venture guy would launch into a lecture on the three reasons startups failed: the excessive ego of the founder, too little focus on the most promising products, and too little capital. Having recognized this mantra, Metcalfe started to preempt it. “Here are the three mistakes I am not going to make,” he would announce, before the unsuspecting venture capitalist got a chance to lodge the standard caveats. “A, I have decided that it’s more important that this company succeed than that I run it. Two is, even though I have this business plan that shows a million products, trust me, we’re going to focus on a few of them. And three, I’m here raising money, because we’re not going to be undercapitalized.”[28]

In the book ‘That Will Never Work’ by Marc Randolph, Reed Hastings gives Marc advice on starting a new company: You need the same people to return and use your product. You need something that is consumed; once a movie is done you need another one. The market of new customers is limited. There is no way you can succeed if you must keep finding new customers. - Reed Hastings, CEO of Netflix

Kick-starting this ecosystem will require a shift in mentality for VCs who participate. The very idea of venture capital has been built around high risks and exponential returns.

You have to state why and how your business is going to be the leader. If the niche already exists, so too does a leader. Displacing an incumbent leader is always possible, but it is difficult. It’s not something to bet on, unless you have a source of competitive advantage that is totally compelling. Typically, star-venture start-ups create their own niche. If the niche proves viable, the venture starts in the wonderful position of ‘born leader’. To create a viable new niche is tough. The large majority of attempts to create a niche fail. Why? Two conditions must be met: ★ There must be a gap in the market. All existing players must have overlooked the gap, or judged it too small, too unprofitable or too implausible. For sure, this is possible. But it is not very likely. ★ There must be a market in the gap. The gap must be large enough to support at least one new venture (yours) profitably. This, too, is not probable.

Though it goes against everything we like to believe, everything we read in papers and books, the curious truth is that executives have much less influence than they and we like to believe, once a firm’s positioning is set. One executive versus another is almost completely irrelevant, unless he or she makes a brave and dangerous decision to try to transform a firm’s positioning. This is rare. Even when the attempt is made, it fails more often than it succeeds. The one time when individuals can dependably make a difference and put themselves in a great position is: ★ when they select the positioning for a new or young venture; ★ when they realise that success comes from creating a star firm (this is the only general and reliable reason for business success, since nearly all stars are very successful, so long as they stay stars - and, crucially, the other way round: nearly all very successful firms are stars); and ★ when they determine to start a star venture.

Mark Allin and Richard Burton started Capstone, their book-publishing venture, with high hopes. False modesty aside, they knew they were excellent editors, with a great track record at two publishing giants. I could vouch for Mark Allin’s profit-making abilities, since he gave me the idea for writing The 80/20 Principle, my bestselling book. Richard and Mark envisaged Capstone as a star venture, the leader in a new category of ‘funky business books’. They convinced me that this idea was plausible and I became their financial backer. I reckoned that I had an ‘each-way bet’ - either their star business would materialise, or, at worst, they would pick a few great winners, making Capstone highly profitable. The business appeared to start well. They commissioned a stream of trendy books from interesting authors. The product looked great, with distinctive trendy designs. Mark and Richard were full of ideas and enthusiasm, confidently projecting sales that would give us good profits. The only thing was, the forecasts never materialised. Whenever we looked at the numbers we were constantly disappointed. I kept injecting cash, and it kept vanishing. To this day I don’t know why their books didn’t sell in quantities we could reasonably expect.The favoured explanation was the weakness of the sales force - inevitably, it was difficult to acquire distribution muscle from scratch. Maybe they just had bad luck in not commissioning any smash hits. Whatever the reason, Capstone was a financial black hole. I remember a rather difficult meeting at my home in Richmond some three years after the start. Richard and Mark asked for a further loan to commission new books. I had to say no. We had to face facts. Capstone was not a star; the category of ‘funky business books’ had not established itself. Capstone was a rather weak follower in the business-books arena. Capstone had none of the financial attributes of a star. If it looked like a dog, behaved like a dog and barked like a dog, it probably was a dog.

It is also important that you have total belief in yourself and that what you are doing will help you accomplish your goals. You will need to put in a lot of effort and spend plenty of time reflecting on yourself, your life, and the direction you are heading. However, by this point, you will have accepted that the only way to achieve anything of value is through hard work and dedication. Before you start working on a new project, make sure you are fully aware of what you want to achieve. Thinking about it is not enough—get a pen and notepad and write it down. If you are unsure of your aims, delay getting to work until you are sure because, if you don’t know where you are going, you will end up wasting a lot of time and energy. Also, when you fail to plan, failure is inevitable. You run the risk of developing a reputation as someone who is always starting new ventures and never completing them. You then get trapped in a vicious cycle that ultimately will erode your self-esteem and confidence. There is only one solution to this problem—choose your goals according to your abilities. Once you are confident that you can succeed, go for it. “Trying” is a recipe for disaster, whereas “doing,” is decisive and assertive.

Throwing even more fuel on this fire was Alibaba’s record-breaking 2014 debut on the New York Stock Exchange. A group of Taobao sellers rang the opening bell for Alibaba’s initial public offering on September 19, just nine days after Premier Li’s speech. When the dust settled on a furious round of trading, Alibaba had claimed the title of the largest IPO in history, and Jack Ma was crowned the richest man in China. But it was about more than just the money. Ma had become a national hero, but a very relatable one. Blessed with a goofy charisma, he seems like the boy next door. He didn’t attend an elite university and never learned how to code. He loves to tell crowds that when KFC set up shop in his hometown, he was the only one out of twenty-five applicants to be rejected for a job there. China’s other early internet giants often held Ph.D.s or had Silicon Valley experience in the United States. But Ma’s ascent to rock-star status gave a new meaning to “mass entrepreneurship”—in other words, this was something that anyone from the Chinese masses had a shot at. The government endorsement and Ma’s example of internet entrepreneurship were particularly effective at winning over some of the toughest customers: Chinese mothers. In the traditional Chinese mentality, entrepreneurship was still something for people who couldn’t land a real job. The “iron rice bowl” of lifetime employment in a government job remained the ultimate ambition for older generations who had lived through famines. In fact, when I had started Sinovation Ventures in 2009, many young people wanted to join the startups we funded but felt they couldn’t do so because of the steadfast opposition of their parents or spouses. To win these families over, I tried everything I could think of, including taking the parents out to nice dinners, writing them long letters by hand, and even running financial projections of how a startup could pay off. Eventually we were able to build strong teams at Sinovation, but every new recruit in those days was an uphill battle. By 2015, these people were beating down our door—in one case, literally breaking Sinovation’s front door—for the chance to work with us. That group included scrappy high school dropouts, brilliant graduates of top universities, former Facebook engineers, and more than a few people in questionable mental states. While I was out of town, the Sinovation headquarters received a visit from one would-be entrepreneur who refused to leave until I met with him. When the staff told him that I wouldn’t be returning any time soon, the man lay on the ground and stripped naked, pledging to lie right there until Kai-Fu Lee listened to his idea.

As you move forward on your journey from where you are to where you want to be, you are going to have to confront your fears. Fear is natural. Whenever you start a new project, take on a new venture, or put yourself out there, there is usually fear. Unfortunately, most people let fear stop them from

How to Freelance Could it be said that you are fed up with being a representative encountering the monotonous routine? Assuming that your response is indeed, this present time would be the opportunity to consider outsourcing your experience and abilities. Outsourcing is rapidly turning Into the calling which is carrying specialists into what's in store. Organizations are starting to downsize on costs, including their labor force, and they are going to the outsourcing business sector for help. Assuming you have involvement with any of the above regions, or something else, there is an incredible opportunity that you can embed your skill into the outsourcing industry without any problem. There are an astounding measure of clients out there searching for your abilities and ready to pay great cash to use them please visit here how to freelancing for more details. Freelance composing is an extremely complicated interaction that relies upon, and just on the essayist. While this vocation decision is difficult to get into, it is strikingly simple to transform the composing field and earn substantial sums of money simultaneously. There are three essential things about freelance composing that each essayist, new or not, should be aware or have a grasping of. We check out at them exhaustively here: The when of freelance composition There is no when to freelance composition. A capable essayist can compose whenever of the day or night; one glimmer of motivation and he's up and composing on the pc. However, this is valid just for a couple of essayists. A large number of us compose at explicit times, with the end goal that our innovativeness becomes restricted to those hours as it were. A work at home mother will rise and shine right on time to get in a couple of hours before the children wake up. An undergrad will work in the nights after talks. However, with freelance composition, it's best not to get into a groove to such an extent that your innovativeness endures. The where of freelance composition Here, most essayists have a decision. A few of us need clear walls around us with zero commotion levels to have The option to work capably. Others need a boisterous climate. Others can work anyplace; from the middle of a well of lava emission to a path seat on a cable car in london. You get to choose where you are generally agreeable, and work from that point. The how of freelance composition Once more, there is no how to freelance composition. You should simply sit at your pc or type-essayist, and get moving. Those dealing with a particular task as of now have some thought of what they will compose, while others sit before their clear screens and get their dream together. In the cutting edge world, however, this approach is becoming old, since each essayist worth his time and energy is charging constantly. A typical slip-UP freelancers make is having powerless correspondence with their clients. You should know about this in light of the fact that continually rehashing this error can set you back huge load of cash as long as possible. You should be certain that you impart successfully while getting the task and furthermore during the venture. you want to construct and keep up with trust with your clients. The following mix-up you should know can occur with an extremely normal benefit you can have as a freelancer, how much tasks you can have. You can have many undertakings for yourself as you can deal with. However, you'll have to genuinely check what you can deal with. At long last, let's talk about recurrent business. That is when clients utilize your administrations again and again. At the point when you get you first clients, you might begin imagining that since you got work from them that you'll continue to get work from them. This is an unfortunate mix-up on your part. You believe that should conquer this by keeping up with great terms with your client and staying in contact with them.

Greg Aloi Singapore Business Model Creating a successful business model is essential, whether you are starting a new venture, expanding into a new market, or changing your go-to-market strategy. Greg Aloi said you can use a business model to capture fundamental assumptions and decisions about the opportunity ahead, setting your direction for success. Greg Aloi Singapore Build a strong team Building a strong team is based on a strong system. After forming a team, you have to put a system and rules for everyone to follow so work can be organized. Having a messy team with no system even though your team is strong will not give you any good results

An old farmer said he quit tobacco for good one day when he discovered he had left his tobacco home and started to walk the two miles for it. On the way, he “saw” that he was being “used” in a humiliating way by a habit. He got mad, turned around, went back to the field, and never smoked again. Clarence Darrow, the famous attorney, said his success started the day that he “got mad” when he attempted to secure a mortgage to buy a house. Just as the transaction was about to be completed, the lender’s wife spoke up and said, “Don’t be a fool. He will never make enough money to pay it off.” Darrow himself had had serious doubts about the same thing. But something happened when he heard her remark. He became indignant, both at the woman and at himself, and determined he would be a success. A businessman friend of mine had a very similar experience. A failure at 40, he continually worried about “how things would come out,” about his own inadequacies, and whether or not he would be able to complete each business venture. Fearful and anxious, he was attempting to purchase some machinery on credit, when the seller’s wife objected. She did not believe he would ever be able to pay for the machinery. At first his hopes were dashed. But then he became indignant. Who was he to be pushed around like that? Who was he to skulk through the world, continually fearful of failure? The experience awakened “something” within him—some “new self”—and at once he saw that this woman’s remark, as well as his own opinion of himself, was an affront to this “something.” He had no money, no credit, and no way to accomplish what he wanted. But he found a way—and within three years he was more successful than he had ever dreamed of being—not in one business, but in three.

In America, immigrants are twice as likely to start a new business than natives, and are responsible for 25 percent of all new jobs. Between 2006 and 2012, 33 percent of venture-backed companies that went public had at least one immigrant founder. Among Fortune 500 companies, 40 percent were founded by immigrants or their children. In 2016, half of all unicorns—those rare startups valued at more than $1 billion—were founded by immigrants, and each provided at least 760 new jobs.

intricately patterned. There is nothing rustic here. Only when she looks at the paintings does Elizabeth remember the dark approach through the forest. These are outdoor paintings, trees and wild cliffs, huge sunsets. Elizabeth sits with Nina on a divan before a cluster of Bierstadts. Deep trees and cerebral winter skies. The museum is nearly empty this weekday morning. The elaborate gallery still. Elizabeth looks intently at the winter landscapes. And as she looks, she whispers to Nina, “It’s marvelous, just sitting here while the girls are at camp.” Nina looks at the floor. Renée is working as a junior counselor at the camp. It was Nina’s idea. She thought the job with the Lamkins would be good for her daughter, that it would teach her responsibility and how to care for children. But Renée made a fuss. Nina had to threaten and cajole and, in the end, force Renée to go. There were tears and threats up to the day she started. Even now, Renée is sulking about working there with the little children. “Renée doesn’t like the camp,” Nina says. “I think she’d rather waste her time wandering around, doing nothing, playing with that Arab girl. Andras doesn’t care. I hear the father owns a trucking business—he just drives trucks from New York to Montreal—” She breaks off, frustrated. “She’s a good child, really,” Elizabeth says. “But Andras spoils her,” says Nina. Then Elizabeth sees that Nina is really upset. There are tears in Nina’s eyes. It’s hard for her to speak. Elizabeth sees it, and doesn’t know what to do. They are close neighbors, but they are not intimate friends. Beautiful Nina in her crisp dress, downcast among all these paintings. “He’s very … indulgent of the children, both of them,” Nina says. “He used to take them to the warehouse and let them pick out any toys they liked.” “At least he’s not in the candy business,” Elizabeth says. “Toys won’t rot their teeth.” “He’s going to let Renée quit piano,” Nina says bitterly, utterly serious, “and she’ll regret it all her life.” Elizabeth tries to look sympathetic. She’s heard Renée play. “And now that Renée is working at the Lamkins’ camp, she wants to quit that too.” “He wouldn’t let her do that,” Elizabeth ventures. “I

Nepalese culture is traditional because most individuals prefer to spend their money on land, gold and silver savings, building structures, and consuming luxury products rather than investing in new ventures or starting their businesses.

2. MIGRATE YOUR PRODUCT LEK had to move away from ‘standard’ strategy towards analysis of competitors. This led to ‘relative cost position’ and ‘acquisition analysis’. Your task is to find a unique product or service, one not offered in that form by anyone else. Your raw material is, of course, what you and the rest of your industry do already. Tweak it in ways that could generate an attractive new product. The ideal product is: ★ close to something you already do very well, or could do very well; ★ something customers are already groping towards or you know they will like; ★ capable of being ‘automated’ or otherwise done at low cost, by using a new process (cutting out costly steps, such as self-service), a new channel (the phone or Internet), new lower-cost employees (LEK’s ‘kids’, highly educated people in India), new raw materials (cheap resins, free data from the Internet), excess capacity from a related industry (especially manufacturing capacity), new technology or simply new ideas; ★ able to be ‘orchestrated’ by your firm while you yourself are doing as little as possible; ★ really valuable or appealing to a clearly defined customer group - therefore commanding fatter margins; ★ difficult for any rival to provide as well or as cheaply - ideally something they cannot or would not want to do. Because you are already in business, you can experiment with new products in a way that someone thinking of starting a venture cannot do. Sometimes the answer is breathtakingly simple. The Filofax system didn’t start to take off until David Collischon provided ‘filled organisers’ - a wallet with a standard set of papers installed. What could you do that is simple, costs you little or nothing and yet is hugely attractive to customers? Ask customers if they would like something different. Mock up a prototype; show it around. Brainstorm new ideas. Evolution needs false starts. If an idea isn’t working, don’t push it uphill. If a possible new product resonates at all, keep tweaking it until you have a winner. At the same time . . .

3. MIGRATE YOUR DNA New products require new capabilities. Equally, new products can result from the unique character and living expansion of your firm. No two species are identical. Neither are two ventures. The mix of founders and early employees is unique. Nobody will ever do things quite the way you do. The more different you can make your firm, the better. Intelligently, of course, ★ hire and promote people who have similar attitudes to the target market; ★ hire people who get on well with each other and go the extra mile for customers and colleagues; ★ hire people who have a high ratio of smarts to cost - younger or from neglected talent pools; ★ hire risk-takers, experimenters, explorers, oddballs, and those with a restless spirit; ★ train on the job; team novices with senior role models; concentrate on the few things customers like most, that can be done with least effort and cost; ★ make your venture bright, quirky, colourful, distinctive, fun and highly commercial - thrilling customers at a high profit for the firm. Encourage smart experiments at every level, in every way, at every time. Make it a way of life in your firm. Then, sooner or later, your star will emerge. LEK did not start by migrating its product. First we migrated its DNA, then we created products we were uniquely able to sell. This goes against the grain, but it works!

Founders who fear that they may not be able to amass the resources required to pursue an attractive opportunity should also consider ways to constrain that opportunity. They can do this by reducing the scope of their effort—at least initially, until proof of concept is established and it becomes easier to mobilize resources. This approach is somewhat counterintuitive because startup dogma holds that growth is the prime goal for a new venture. Instead, with this contrarian approach, a startup should start small in order to get big.

Nagaraj and his new team were heading for a False Start—a failure pattern common to many early-stage ventures. A false start occurs when a startup rushes to launch its first product before conducting enough customer research—only to find that the opportunities they’ve identified are rife with problems. By giving short shrift to early and accurate customer feedback and by neglecting to test their assumptions with MVPs, they simply run out of time to fix all the flaws, thus turning Lean Startup’s “Fail Fast” mantra into a self-fulfilling prophecy.

According to analysis by Noam Wasserman, dean of Yeshiva University’s Business School, co-founder relationships are less stable—that is, more likely to end in breakup—when co-founders are family members or were close friends prior to launching a venture. There are many tempting reasons to start a business with your close friend or family member—for example, you share similar goals and values and already know each other’s strengths, weaknesses, habits, and quirks. However, compared to those who were previously colleagues or strangers, co-founders with close personal bonds find it more difficult to have tough conversations about roles and strategies. They’re afraid that the ensuing conflict might jeopardize their personal relationship.

The priest and his desires Not alone, but a lonely monastery priest, Resisting hard not to venture out and pursue the need for love and passion driven heist, Bound by his sanctum and religion, He tries not to give in to any seduction, Adam and Eve blamed the devil, The priest is baffled to decide who shall he blame for this evil, He rolls and turns restlessly in the bed of his desires, And every night after the Church service he deals with these raging fires, He is dressed in his black robe on the much anticipated Sunday mass, But he is distracted and sees passions and desires cast on peoples faces and even on mosaic glass, At the end of the service he serves all some fine and red wine, And when he stands face to face with a beautiful woman his inner self says “I wish you were mine!’” His Sunday night is spent in her curled hair locks, He is shackled to her beautiful face and desires that fasten around him like unbreakable locks, He often touches his cross that he wears always, Still his nights are restless and now it is so even during the sunny Spring days, He bows before the Altar and makes a solemn confession, “My Lord! her face and her overpowering beauty have become my obsession, Am I still worthy of worshipping you my God? For I have silently started worshiping this feeling of loving her and I do not feel odd, It is her thoughts that possess me even during my sermons, In her absence, not yours My Lord, everything presents itself like bad omens, To tame my wandering thoughts I refer to the Holy Book, But through it too peeps her face and her mesmerising look, I wonder if I shall quit clergy, And adopt this new synergy, I am drowning farther and farther in this mental eclipse, And I only want to think of her beautiful face, her warm skin and her red lips, Shall I forsake my black robe, My Lord, and not Thee? Or Forsake her and thereby my black robe and Thee? Because without her I do not feel anything that is a part of me, And without being me, how can I anything else be, Perhaps I am supposed to be a man of God but not a man, Never to fulfillmy own desires for I am busy fulfilling Your plan, So let me live with my state and the social taboo, While every night I place my desires in the coffin along with the happy morning cuckoo.” The Lord smiles at him, “It is your personal battle and it is grim, You desire her, her face, her charming ways, You think of her during nights and during the bountiful days, But you think of me too and that is enough for me to know, So seek her and kiss her grace, for then you shall better baptise in my glow, And before you fall too low, Rise to your calling and you shall reap as you shall sow, Whether you wear a black robe or her kisses, I shall judge you on how you made others feel with or without your kisses.” Said the Lord in His emphatic voice, And the priest stood up and made the right choice! To love the woman he loved and missed, And he felt something divine within him, whenever her deep beauty he kissed! Source of inspiration : The Thorn Birds 1983 Drama

The priest and his desires Not alone, but a lonely monastery priest, Resisting hard not to venture out and pursue the need for love and passion driven heist, Bound by his sanctum and religion, He tries hard not to give in to any form of seduction, Adam and Eve blamed the devil, The priest is baffled to decide who shall he blame for this evil? He rolls and turns restlessly in the bed of his desires, And every night after the Church service he deals with these raging fires, He is dressed in his black robe on the much anticipated Sunday mass, But he is distracted when he sees passions and desires cast on peoples faces and even on mosaic glass, At the end of the service he serves all some fine and red wine, And when he comes face to face with a beautiful woman, his inner self says “I wish you were mine!’” His Sunday night is spent in her curled hair locks, He is shackled to her beautiful face and desires that fasten around him like unbreakable locks, He often touches his cross that he wears always, Still his nights are restless and now it is so even during the sunny Spring days, He bows before the Altar and makes a solemn confession, “My Lord! her face and her overpowering beauty have become my obsession, Am I still worthy of worshipping you my God? For I have silently started worshiping this feeling of loving her and I do not feel odd, It is her thoughts that possess me even during my sermons, In her absence, not yours My Lord, everything presents itself like bad omens, To tame my wandering thoughts I refer to the Holy Book, But through it too peeps her face and her mesmerising look, I wonder if I shall quit clergy, And adopt this new synergy? I am drowning farther and farther in this mental eclipse, And I only want to think of her beautiful face, her warm skin and her red lips, Shall I forsake my black robe, My Lord, and not Thee? Or Forsake her and thereby my black robe and as well Thee? Because without her I do not feel anything that is a part of me, And without being me, how can I anything else be, Perhaps I am supposed to be a man of God but not a man, Never to fulfil my own desires for I am busy fulfilling Your plan, So let me live with my state and the social taboo, While every night I place my desires in the coffin along with the happy morning cuckoo.” The Lord smiles at him, “It is your personal battle and it is grim, You desire her, her face, her charming ways, You think of her during nights and during the bountiful days, But you think of me too and that is enough for me to know, So seek her and kiss her grace, for then you shall better baptise in my glow, And before you fall too low, Rise to your calling and you shall reap as you shall sow, Whether you wear a black robe or her kisses, I shall judge you on how you made others feel with or without your kisses.” Said the Lord in His emphatic voice, And the priest stood up and made the right choice! To love the woman he loved and missed, And he felt something divine within him, whenever her deep beauty he kissed! Source of inspiration : The Thorn Birds . 1983 Drama

After all, less than 1% of new businesses started each year in the U.S. receive venture funding, and total VC investment accounts for less than 0.2% of GDP. But the results of those investments disproportionately propel the entire economy. Venture-backed companies create 11% of all private sector jobs. They generate annual revenues equivalent to an astounding 21% of GDP. Indeed, the dozen largest tech companies were all venture-backed. Together those 12 companies are worth more than $2 trillion, more than all other tech companies combined.

But this venture, like Virginia, got off to a rough start. The Mayflower arrived off the coast of America in late November. Compounding this late-season arrival, the ship had missed its destination. The original charter granted by the Virginia Company called for landing near the mouth of the Hudson River. Instead, the Mayflower anchored within a peninsula 220 miles to the north. After sending an expedition to explore the coastline and find a place to build the settlement, the majority of the Pilgrims remained on the Mayflower awaiting the men’s return. Simultaneously, while the Mayflower was en route, officials in England separated the northern parcel of the Virginia Company and placed it under the Council for New England. Without knowing it, the Pilgrims were preparing for the first winter in the history of New England.

Yet other men came with the idea of setting up links between the East and the West. In 1850 Henry Wells and his partner, William Fargo, were operating American Express, an express company in the burgeoning city of Buffalo. An express company’s business was to ship things quickly but expensively. Messages, banknotes, and valuables were the primary goods transported by express companies. To hedge against the risks to his express company from the instant telegraph, Wells had invested in local telegraph companies, including Ezra Cornell’s. Sensing the opportunity in the West, especially as laying telegraph lines across a desolate country was a practical impossibility, Wells and Fargo proposed expanding their company, American Express, to the West. Their investors balked. So starting in 1852, Wells and Fargo set up a new company to provide express services to California. In addition to simple messages, Wells, Fargo & Co. ventured into the business of bringing gold back east. And since an express company was already entrusted with valuables, it soon made sense for Wells, Fargo & Co. to also offer banking services locally.