Tag: entrepreneur

Hope for “old farts”

Despite the dorm-room folklore:

People founding tech companies over the last ten years had an average and median age of 39-years…

I’d like to see success/failure rates along with these figures.

Business and Trout Fishing

A few parallels worth mentioning:

  • The need for patience and persistence – Not everyone is going to buy into your idea the moment you deliver it. By the same token, neither is a trout. Be patient with people as well as finicky aquatica – adjust your presentation to achieve the intended objective. Quit too soon, and you might miss out on the opportunity of a lifetime.
  • Betting on your winners – Throw your all into the stuff that’s working. Successful entrepreneurs get a boost from small successes, and by directing attention to the small wins they often turn them into big ones. Commodities traders are particularly good at this – they generally double up their bets on their winners (and yes, I consider traders entrepreneurs). For trout, go for your favorite flies and favorite holes first – the ones you have confidence in as a result of previous successes.
  • Knowing when to cut your losses – You can turn a small business failure into a big one very easily. Just keep throwing good money after bad. You can turn stellar conditions into a “no fish” day as well – just stick to the same fly, or stand in the same hole. All day.

The inevitable fights

…there’s still the hundred-hour work weeks, the race to market, the unexpected competitors, the fights in the hallway with the other founders, the divorce, etc. But, of course, if you fretted about all that minor stuff, you wouldn’t be entrepreneuring in the first place. – from Michael Malone – ABC News: Silicon Insider.

All those things are going to happen, whether you like it or not. Decide whether you and your partners can deal with it before you begin.

Don’t feel sorry for the struggling entrepreneur

“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas Alva Edison

Nobody should feel sorry for the guy or gal struggling in their basement with a crazy idea – they are learning. And for those struggling, well you only have to be right once.

Thanks go out to the contributors.

I thought I was the only crazy one

I have done a few good deals, and a few bad ones. In the good ones, I was best described by my board as a pain in the ass, but I got the job done so there were few regrets in the end. But I never worked with that particular board again, not because I was told to go away, but because I felt I had slighted a few folks (in other words, I was embarrassed, so I just grabbed my hat). Behaviour modification kept me from getting burned in the bad deals, as I learned how to walk when walking was the best option, and in the good ones I now keep my mouth shut much more often. Still, I had some self-doubt – now I wonder if that anxiety was ever justified to begin with.

Speaking of Biases…

“Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.” – Douglas Adams

Just food for thought…

Entrepreneurs and Consultants, Apples and Oranges

I have been an entrepreneur and a consultant, and I personally feel I am fair to middling at both. But I have seen some good ones, and have a few observations in the noggin archive.

There is a fundamental difference between the two, which relates to their target audience. It is all about who they have to please.