On Entrepreneurship

Seth Kravitz (2010) offers the following list of questions that every perspective entrepreneur should ask themselves before embarking on an enterprise of their own:

1. I am willing to lose everything.
2. I embrace failure.
3. I am always willing to do tedious work.
4. I can handle watching my dreams fall apart.
5. Even if I am puking my guts out with the flu and my mother passed away last week, there is nothing that will keep me from being ready to work.
6. My relationship/marriage is so strong, nothing work related could ever damage it.
7. My family doesn’t need an income.
8. This is a connected world and I don’t need alone time. I want to be reachable 24/7 by my employees, customers, and business partners.
9. I like instability and I live for uncertainty.
10. I don’t need a vacation for years at a time.
11. I accept that not everyone likes my ideas and that it’s quite likely that many of my ideas are garbage.
12. If I go into business with friends or family, I am OK with losing that relationship forever if things end badly.
13. I don’t have existing anxiety issues and I handle stress with ease.
14. I am willing to fire or layoff anyone no matter what how good of a friend they are, if they are my own sibling, if they just had a baby, if they have worked with me for 20 years, if their spouse also just lost their job, if I know they might end up homeless, if they have cancer but no outside medical insurance, or any other horrible scenario millions of bosses and HR people have faced countless times.
15. I am OK with being socially cut-off and walking away from my friends when work beckons.
16. I love naysayers and I won’t explode or give-up when a family member, friend, customer, business associate, partner, or anyone for that matter tells me my idea, product, or service is a terrible idea, a waste of time, will never work, or that I must be a moron.
17. I accept the fact that I can do everything right, can work 70 hours a week for years, can hire all the right people, can arrange amazing business deals, and still lose everything in a flash because of something out of my control.
18. I accept that I may hire people that are much better at my job than I am and I will get out of their way.
19. I realize and accept that I am wrong ten times more than I am right.
20. I am willing to walk away if it doesn’t work out.

My personal experiences with being my own boss over the past 18 years causes me to endorse all of the above questions as pertinent considerations. In the mean time, I have no regrets with my decision back in 1992 to go out on my own. You can learn all about what I do in private practice by clicking here.

Source: Kravitz, S (2010, February 25), Part 7: Is this Worth It? (Updated), SecondCityCEO.

Will Baidu Replace Google in China?

With Google sidelined in Hong Kong, will Baidu now replace Google as the most popular search engine in China? Click on the Baidu logo below to visit this uniquely Chinese search engine...

You can also visit the English version of the Baidu corporate website by clicking here.

Well Said...

So in the Libyan fable it is told
That once an eagle, stricken with a dart,
Said, when he saw the fashion of the shaft,
"With our own feathers, not by others' hands,
Are we now smitten."

~ Aeschylus

Aeschylus (525-456 BC)

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Desiderata

Go placidly amid the noise and haste, and remember what peace there may be in silence. As far as possible without surrender be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even the dull and the ignorant; they too have their story.

Avoid loud and aggressive persons, they are vexations to the spirit. If you compare yourself with others, you may become vain and bitter; for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans.

Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time. Exercise caution in your business affairs; for the world is full of trickery. But let this not blind you to what virtue there is; many persons strive for high ideals; and everywhere life is full of heroism.

Be yourself. Especially, do not feign affection. Neither be cynical about love; for in the face of all aridity and disenchantment it is as perennial as the grass.

Take kindly the counsel of the years, gracefully surrendering the things of youth. Nurture strength of spirit to shield you in sudden misfortune.

But do not distress yourself with dark imaginings. Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself.

You are a child of the universe, no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should.

Therefore be at peace with God, whatever you conceive Him to be, and whatever your labors and aspirations, in the noisy confusion of life keep peace with your soul.

With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.

~ Max Ehrmann (1927)

Max Ehrmann (1872-1945)

US Employment to Population Ratio Dismal

The Bureau of Labor and Statistics released new data today that shows the US employment to population ratio is continuing to plummet. As of July 2010, the employment to population ratio stood at 58.9%, down from 59.5% last month.

[Click to Expand]

Many economists believe that reporting the number employed as a percentage of the civilian population provides a more accurate description of the current state of employment than conjecturing the number of "unemployed" in a population. Since 2000, employment in the US has declined from 64.4% to 58.9% as a percentage of the civilian noninstitutional population, its lowest level since 1982.

Source: Bureau of Labor Statistics

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The Expertise Continuum

The graphic below posits three distinct degrees of self-acclaim along the expertise continuum. Those claiming to be experts can locate their proper placement along the continuum via the labeling. The graphic is otherwise self-explanatory.

[Click to Expand]

Source: Wardley, S (2008, April 16), The Three Stages of Expertise, Bits or Pieces?

What are Skills...?

Skills are a resource.

What is Energy...?

Energy is a resource.

What is Knowledge...?

Knowledge is a resource.

What is Wealth...?

Wealth is a resource.

Six Tips for Globalizing Your Business

Laurel Delaney of GlobeTrade has developed six key tips for globalizing your business. More at:

Top 6 Tips for International Business Success

Delaney's six tips should be printed and attached to the refrigerator of every executive in America.

Source: Delaney, L (2010, August 2), Top Six Tips for International Business Success, American Express Open Small Business.

What is an Expert System...?

An expert system is a resource.

What is a Consultant...?

A consultant is a resource.

Well Said...

"Fight the good fight with all thy might..."

~ From a hymn with words by John S B Monsell (1863)

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The Vantage Point

The Best Investment Ever...

Investing in myself is the best investment decision I have ever made...

To learn more about how I started my business back in 2001, follow the link below...

Start Your Business