Tuesday, January 29, 2013

Rule#9: Persist, Persevere, Prevail

“Nothing in this world can take the place of persistence. Talent will not; nothing is more  common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a  proverb. Education will not; the world is full of educated derelicts. Persistence and  determination alone are omnipotent. The slogan ‘press on’ has solved and always will solve  the problems of the human race.” – Calvin Coolidge

Luck and Persistence

Luck play a role, either small or big, in success. Being lucky is necessary but not sufficient, you also need to be persistent as well. Again, it is likely that you will get 100 “no” before gettign a “yes”. The key is not to give up, to persist long enough until the fortune comes your way.

Persistent and Risks 

Persistent is also a vaccine against risk. Every passing hardness increase the chance of company’s survival. It’s just like an old saying: “What doesn’t kill you will make you stronger.”

Saturday, January 26, 2013

Rule#7: Learn to Lead

“Leadership is getting someone to do what they don’t want to do, to achieve that they want to achieve” -- Coach Tom Landry

Roles of a Leader

     Being a leader is not to be friend with you employees or to be more skillfull or more intelligent than your employees. A good leader is able to hire and fire people, to run small and big meeting, and to connect and motivate pepole. Being a leader is about being able to inspire and connect with people, and to lead them to make something happen.  

“Leadership is about organizing people, and motivating them to work together toward a common goal.”

Thursday, January 24, 2013

Rule#8: Learn to Sell

“If you are planning to be an entrepreneur, you should be planning to be a salesman. You’re constantly selling. You’re selling yourself when your company doesn’t even exist yet; you’re selling the concept to potential employees; you’re selling to customers. And you’re trying to convince suppliers that this teeny company of yours that isn’t well finance--you’re selling them the belief that you’re going to be succeed.”--Professor Ed Zschau, HBS 

Leading and Selling

Learning to lead is similar to learning to sell. Both are about making promises and doing everything you can to keep them. Leading can be thought of as selling your idea. You want to convince investors and employees to believe in you, believe in your ideas, and believe in your company. And, when they do, they are willing to throw away their own benefits and work towards the goals you set. People would like to be a part they can be proud of. If you convince them that you are the things they are proud off--you are the thing that they can entrust their life with, they will follow your leads even if the short-term payout is not attractive. After all leadership is about convincing people--or selling your ideas. 

“As soon as you decided to become an entrepreneur, you become a sale person.”

Thursday, January 17, 2013

Rule#6: Manage Risk

<- Previous Post Main Post | Book review | Next Post ->

“One  of  the  great  myths  about  entrepreneurs  is  that  they  are  risk  seekers.  All  sane  people  want   to  avoid  risk.” – Professor  William  Sahlman, HBS

Do Not Take Risk. Manage It.

     Successful entrepreneurs don’t take risk. They work very hard to manage and take as little risk as possible. To them, they deal with financial risk with DROOM (Don’t Run Out Of Money) principle. They don’t spend money when they don’t need to. They raise money before they need it. They focus on growing their revenue and improve their bottom line. True entrepreneurs do not take random risk.

Different People, Different Risk

     People view things differently. One thing could be risk for one person, but be opportunity for another. When you want to hire someone. You usually have to pay for at least minimum wage. That’s risky for you. But you might be able to convert your project into  collage project and get a free labour. The students would do this because they’ll get real word experience. And, you may promise to hire them after graduation if they did well. 

Tuesday, January 15, 2013

Rule#5: You Must Do It Alone

“To  be  a  champ  you  have  to  believe  in  yourself  when  nobody  else  will.” -- Sugar  Ray  Robinson

A Lonely Life

“Starting your company means that, much of the time, you have to do the difficult work and make the hard decisions alone.”
     Your parent could be one of your worst enemy. After all you hard work, they want you to have a secure high-paying job at a prestigious organization. They don’t want to see you doing business, because if you fail, you’ll be seen as a failure.

Thursday, January 10, 2013

Rule#4: You Can't Do It Alone

“Change  creates  unprecedented  opportunity.  But  to  take  full  advantage  of  those  opportunities,   focus  on  the  team.  Teams  win.” – John  Doerr

 Social Capital

     It's very important to surround yourself with right people. Entrepreneurs lean heavily on “social capital” to build business:
1. Build up a network 
2. Identify your strengths and weaknesses


One of the most important factors is surrendipity. It's about meeting the right people at the right time. They help you make good decision which leads to business success. The problem is you never know which person is the right person and when is the right time. The only way to maximize you chance is to get to know people and leave good impression to people you met. 

Tuesday, January 8, 2013

Rule#3: Think big, Think new, think again

Think Big

          Make it worth your time, your investors’ time, and your customers’ time. Be ambitious. Do not think small. Because, life is too [damn] short.  
“A real opportunity consists of both the problem and the proposed solution.” 

      Make it worth your time, your investors’ time, and your customers’ time. Be ambitious. Do not think small. Because, life is too [damn] short.
“Don’t go out there and look for experiences. Experience’s what’s you get when you don’t achieve what you want. Go out there and do what you want to do and succeed at it.”-- Barry Beck
Be careful of the mountain you're climbing. Do not climb the wrong mountain.

Think New
“Innovation usually comes from either bringing a new technology to an industry or coming up with a new business model.
  Thinking new doesn’t necessarily mean thinking complicated. 

Wednesday, January 2, 2013

Happy New Year 2013

I wish all of you great success and happiness. May this coming year bring you good health and prosperity. May all the best things in the world be bestowed upon you all :)