Thursday, December 27, 2012

Rule#2: Find a Problem, then Solve it

          Start with the problem. Find the problem you personally really want to solve. Do not begin with solution. Then find the problem. Otherwise, the problem you found would be just an artificial problem.

A Good Problem

          Here are hard questions you need to ask yourself: Who's care? If you can't come up with a good answer, it's a warning sign that you probably haven’t come up with a good question.
“While successful entrepreneurship does indeed require innovation, focusing first on the solution rather tan the problem that needs to be solved can be a recipe for failure.”

Tuesday, December 25, 2012

Rule#1: Make the Commitment

     How badly do you want it? Do you really want to be entrepreneur? or you are just want to make a living, or disappointed from your day job. The organization of large organization is like pyramid. There are only a handful of positions on the top. So a lot of people quits because of disappointment.  Either way, if you are really committed, you can succeed. A lot of successful start-ups begins because the founders have lost their jobs or don’t want to work for others.

        “I would much rather that they die regretting what they have done than what they have not done.” -- Professor Joseph Lssiter, HBS

Do you have obligation?

  What other obligation will compete with time and resources? Do you have kids or parent to take care of? If the risk is great, find a way to minimize the risk before making the commitment.

Do you have support?

     What kind of support system do you have? If you are surrounded by successful entrepreneurs or if you learn about hundreds of successful case studies, you will be well emotionally supported. You know that it's going to work. You know you can do it. You can imagine it in your head. It’s a good thing to have a mentor and role model you look up to. So that when you’re lost, you can look at them and think if they can do it, I can do it too. They will give you courage you need to move forward.

Thursday, December 20, 2012

Intelligent Entrepreneur: The Introduction

Entrepreneurs: Why and Why Not

“If you’re reading this book, it’s probably because you hope to become a truely successful enterpreneur. You want to build something dynamic, useful, and great, and may be even get rich in the process.”
“Most ventures fail usually for a good reason.” 

And, here are few reasons:
  • Not truely committed
  • Convinced that a lousy business idea is brilliant
  • Does not understand the market he’s targeting
  • Does not hire right people, or does not offer best people good reason to join the venture
  • Not enough capital
  • Not effectively communicate
  • Does not take advantage of new opportunities
  • Bad luck
  • Blame bad luck for not understanding the true reason

Monday, December 17, 2012

Entrepreneurs v.s. CEO: Ideas or Execution

“Ideas are a dime a dozen. Execution is what is important.” -- Professor William A. Sahlman, HBS

       IDEAS  come  from  determining  that  SEGMENT  that  you  want  to  SERVE.  It’s  usually  who  you   are.  You  serve  best  the  segment  that  is  like  YOU!

 If You Think Your Ideas Is an Ultimate Weapon, Think Again.

Venture capitalists look for people, not ideas. Right people will make ideas into actions. If you have wrong idea, you can find another one. But it is very difficult to to change people. It is easier to replace them. 

Friday, December 14, 2012

[Book Review] The Intelligent Entrepreneur: How Three Harvard Business School Graduates Learned the 10 Rules of Successful Entrepreneurship by Bill Murphy Jr.

Rating: 4.5/5
Genre: Non-Fiction, Business
Book Review:

      As the name suggested, this book is about how to become an entrepreneur. But, more importantly, it is about how to become one intelligently. It starts off with why a lot of entrepreneurs fail. Then it presents 10 rules that will help you to become a successful entrepreneur. If you are planning on becoming an entrepreneur, you should really read this book. If you are not, you might as well read this book because it is quite intesting. It’s fun to read and along the way, who knows, you might change your mind and want to become an entrepreneur.

Wednesday, December 12, 2012

[Main] The Intelligent Entrepreneur

[This is the first post] | Main Post | Book review | Next Post ->

     This is the main post in the series "What I Learn from Reading The Intelligent Entrepreneur by Bill Murphy Jr."  From this book, I learn 10 rules needed to become a successful entrepreneur. I also learn quite a bit of interesting stories.

  • You can read my review [ here ]
  • Here are the outlines of my book summary
    • Entrepreneurs v.s. CEO: Ideas or Execution
    • Introduction
    • Rule 1:  Make the Commitment
    • Rule 2:  Find a Problem, Then Solve It
    • Rule 3:  Think Big, Think New, Think Again
    • Rule 4:  You Can’t Do It Alone
    • Rule 5:  You Must Do It Alone
    • Rule 6:  Manage Risk
    • Rule 7:  Learn to Lead
    • Rule 8:  Learn to Sell
    • Rule 9:  Persist, Persevere, Prevail
    • Rule 10: Play the Game for Life
  • Slide show
  • Video [Thai]
  • Quotes