Making a product is just an activity, making a profit on a product is the achievement.
When you were making excuses someone else was making enterprise.
We love being mentally strong, but we hate situations that allow us to put our mental strength to good use.
here was a particular kind of energy in those early days, something I've only really found in startups. The regulars - the boring 9-to-5 people - haven’t invaded the world yet. All around you are people who practically buzz with mental adrenaline - the kind of people who sneer at words like policy and dress code and fill the office at nights with pizza and bad jokes and the relentless tip-tack-clack of keyboards. They push boundaries, turn small ideas into game-changers and small arguments into fistfights.No company can last forever this way: it’s a bit like being in a cage. Eventually the strange ones move out and give way to order and conformity and all the things that make for a smoothly operating machine. But that brief chaos is what really gives a company its soul.
Rhetorical question: Did you get to where you are by accepting the status quo?I didn't.
I’m a firm believer that most people who do great things are doing them for the first time. Returning to my theory of hiring, I’d rather have someone all fired up to do something for the first time than someone who’s done it before and isn’t that excited to do it again. You rarely go wrong giving someone who is high potential the shot.
If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people. But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people… Just by lengthening the time horizon, you can engage in endeavors that you could never otherwise pursue
People are bad at looking at seeds and guessing what size tree will grow out of them. The way you’ll get big ideas in, say, health care is by starting out with small ideas. If you try to do some big thing, you don’t just need it to be big; you need it to be good. And it’s really hard to do big and good simultaneously. So, what that means is you can either do something small and good and then gradually make it bigger, or do something big and bad and gradually make it better. And you know what? Empirically, starting big just does not work. That’s the way the government does things. They do something really big that’s really bad, and they think, Well, we’ll make it better, and then it never gets better”.Building Fast Companies for Growth, Inc. September 2013
When you run a business, your business is totally different from others. This means your lifestyle, your routine and what you make out of your business is totally different. You lead a different life compared to those in your neighborhood and the people you knew around your business circle.
You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible. Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed.' [Paul Graham]
Do you know great minds enjoy excellence, average minds love mediocrity and small minds adore comfort zones?
I enjoy self-publishing & sending publishers rejection letters. They're like, 'Who is this guy?' And I'm like, 'the end of your industry.
Jean-Baptiste Say may have coined the term 'entrepreneur' but he totally missed the opportunity to put it on a t-shirt and sell it.
Even in zazen you will lose yourself. When you become sleepy, or when your mind starts to wander about, you lose yourself. When your legs become painful—“Why are my legs so painful?”—you lose yourself. ”-“You just sit in the midst of the problem; when you are a part of the problem, or when the problem is a part of you, there is no problem, because you are the problem itself. The problem is you yourself. If this is so, there is no problem.”-“When you start to wander about in some delusion which is something apart from you yourself, then your surroundings are not real anymore, and your mind is not real anymore. If you yourself are deluded, then your surroundings are also a misty, foggy delusion. Once you are in the midst of delusion, there is no end to delusion. You will be involved in deluded ideas one after another. Most people live in delusion, involved in their problem, trying to solve their problem. But just to live is actually to live in problems. And to solve the problem is to be a part of it, to be one with it.
The goal - at least the way I think about entrepreneurship - is you realize one day that you can't really work anyone else. You have to start your own thing. It almost doesn't matter what the thing is. We had six different business plan changes, and then the last one was PayPal.If that one didn't work out, if we still had the money and the people, obviously we would not have given up. We would have iterated on the business model and done something else. I don't think there was ever clarity as to who we were until we knew it was working. By then, we'd figured out our PR pitch and told everyone what we do and who we are. But between the founding and the actual PayPal, it was just like this tug-of-war where it was like, "We're trying this, this week." Every week you go to investors and say, "We're doing this, exactly this. We're really focused. We're going to be huge." The next week you're like, "That was a lie.
It is best to be the CEO; it is satisfactory to be an early employee, maybe the fifth or sixth or perhaps the tenth. Alternately, one may become an engineer devising precious algorithms in the cloisters of Google and its like. Otherwise, one becomes a mere employee. A coder of websites at Facebook is no one in particular. A manager at Microsoft is no one. A person (think woman) working in customer relations is a particular type of no one, banished to the bottom, as always, for having spoken directly to a non-technical human being. All these and others are ways for strivers to fall by the wayside — as the startup culture sees it — while their betters race ahead of them. Those left behind may see themselves as ordinary, even failures.
Try to imagine the calamity of that: Zack, age twenty-eight, with no management experience, gets training from Dave, a weekend rock guitarist, on how to apply a set of fundamentally unsound psychological principles as a way to manipulate the people who report to him.
Zen is not some fancy, special art of living. Our teaching is just to live, always in reality, in its exact sense. To make our effort, moment after moment, is our way. In an exact sense, the only thing we actually can study in our life is that on which we are working in each moment. We cannot even study Buddha’s words.”-“So we should be concentrated with our full mind and body on what we do; and we should be faithful, subjectively and objectively, to ourselves, and especially to our feelings. Even when you do not feel so well, it is better to express how you feel without any particular attachment or intention. So you may say, “Oh, I am sorry, I do not feel well.
Even though you read much Zen literature, you must read each sentence with a fresh mind. You should not say, “I know what Zen is,” or “I have attained enlightenment.” This is also the real secret of the arts: always be a beginner.”-“When you are sitting in the middle of your own problem, which is more real to you: your problem or you yourself? The awareness that you are here, right now, is the ultimate fact. ”-“Knowing that your life is short, to enjoy it day after day, moment after moment, is the life of “form is form and emptiness is emptiness.”-“You may feel as if you are doing something special, but actually it is only the expression of your true nature; it is the activity which appeases your inmost desire. But as long as you think you are practicing zazen for the sake of something, that is not true practice.”-“The most important thing is to forget all gaining ideas, all dualistic ideas. In other words, just practice zazen in a certain posture.
One of the best ways to attract capital is to outperform the competition.
The best entrepreneurs are not the best visionaries. The greatest entrepreneurs are incredible salespeople. They know how to tell an amazing story that will convince talent and investors to join in on the journey.
Learning to embrace and savor rejection is one of the best things that entrepreneurs can do. Launching a startup is the time to find your ever-optimistic inner child again.
Business is still more often about whom you know, not what you know.
Ideas are meaningless without a masterful execution.
Don’t expect investors to be throwing millions on the table for you to go off and buy a bigger house, get a new car, party half the week away, and generally upgrade your lifestyle.
If you want to glide toward money, you have to make sure your message is clear as a bell, and you need to ensure that you have a unified team capable of communicating it.
The goal - at least the way I think about entrepreneurship - is you realize one day that you can't really work anyone else. You have to start your won thing. It almost doesn't matter what the thing is. We had six different business plan changes, and then the last one was PayPal.If that one didn't work out, if we still had the money and the people, obviously we would not have given up. We would have iterated on the business model and done something else. I don't think there was ever clarity as to who we were until we knew it was working. By then, we'd figured out our PR pitch and told everyone what we do and who we are. But between the founding and the actual PayPal, it was just like this tug-of-war where it was like, "We're trying this, this week." Every week you go to investors and say, "We're doing this, exactly this. We're really focused. We're going to be huge." The next week you're like, "That was a lie.
Business success requires business preparation. You don't have to be a master tactician, but you do need to have a plan in place. This plan will act as a foundation for everything you want to achieve.
Proformas rarely perform; missed projections are more often the norm. Still, we skew them up high, we miss but we try, for proformas which rarely perform.
If you want to make money at some point, remember this, because this is one of the reasons startups win. Big companies want to decrease the standard deviation of design outcomes because they want to avoid disasters. But when you damp oscillations, you lose the high points as well as the low. This is not a problem for big companies, because they don't win by making great products. Big companies win by sucking less than other big companies.”-“The place to fight design wars is in new markets, where no one has yet managed to establish any fortifications. That's where you can win big by taking the bold approach to design, and having the same people both design and implement the product. Microsoft themselves did this at the start. So did Apple. And Hewlett- Packard. I suspect almost every successful startup has.”-“Great software, likewise, requires a fanatical devotion to beauty. If you look inside good software, you find that parts no one is ever supposed to see are beautiful too.”-“The right way to collaborate, I think, is to divide projects into sharply defined modules, each with a definite owner, and with interfaces between them that are as carefully designed and, if possible, as articulated as programming languages. Like painting, most software is intended for a human audience. And so hackers, like painters, must have empathy to do really great work. You have to be able to see things from the user's point of view.”-“It turns out that looking at things from other people's point of view is practically the secret of success.”-“Part of what software has to do is explain itself. So to write good software you have to understand how little users understand. They're going to walk up to the software with no preparation, and it had better do what they guess it will, because they're not going to read the manual.
Some people say, "What difference does it make what color the winemaker is that made the wine? Judge the wines off their own merit." Like, of course. And I do believe that my wine is judged off its own merit. But the fact is that when you walk into places and people can't believe that you're the principal or you're the owner or you made the wine, it's mind-blowing to me some days. It's like, wow. That's why we need to continue talking about it.
We’ve all been in positions where we felt out of place or not accepted for whatever reason. For me, that’s been my life. I’ve always been that person that stood out. And what makes you an outcast is what makes you unique, and you should harness that. Being a black sheep gives you creative license to do sh*t differently.
Each year about 600,000 start-ups are launched. Less than 0.5 percent attract VC. Of Inc. magazine's annual list of the 500 fastest growing companies in the United States assessed over a decade (1997–2007), less than 20 percent of companies were venture backed” -“62.4 percent of VC investments were completely lost while 3.1 percent of the investments accounted for 53 percent of the profits for roughly 600 investments
A good portfolio manager knows which companies to keep and which ones to let go. Many a GP has struggled with portfolio companies that cannot meet their value-creation milestones, or raise additional follow-on rounds of capital, or generate target returns in a time span of, say, five to seven years. The faster you recognize those losses, the better it is.”-“As David Cowan says, “Just focus on your top five—the rest is distraction.” The harder part of the investor's discipline is to know when to quit.”-“You have to constantly scan all of those things and be willing to adjust your own sense of what's a reasonable outcome and move the company into a position where it has the maximum chance to succeed. ”-“Time is your enemy: Portfolio companies always take twice as much capital and twice as long to exit. Early-stage companies rarely meet milestones as planned and always burn cash faster than anticipated.
Amidst all the hype and hoopla around this business, I wanted to emphasize the challenge—it is seductive but the failure rate is very high. And those who fail have no good place to go.
This is an emotional request to the for-profit startups I help to build, strategize, and monetize. I do it for free because I care for you and your vision. I don't take an equity or a salary despite knowing that you and your investors will make money, and loads of it, eventually. I help because I care. Please remember, to pay back. Not to me, but to the world. Preferably, donate to a non-profit which will never receive the investments that you can and you are; donate to children and youth who want to do good things, to families that need you, to social startups that sweat day in and day out to bring smiles, and to anyone who cares for PEOPLE more than PROFITS. My salary will be drawn. I will be paid back in full. Thank you!
The aim of Good Investments is the ones that offer a high value product that is needed by the target market at a reasonable price and potentially fast ROI which part of the profits will be constantly used in order to improve the existing business and keep building positive image with charitable investments as part of the profits.