by Chris Banescu –
Discipline is much more important than motivation to help us stay healthy, do good work, and pursue meaningful life goals. “Discipline is the driver of daily execution. Discipline defeats the infinite excuses that [Read more…]
Entrepreneurship
Entrepreneurship
Pursue Your Freedom and Happiness – My New Book is Published!
My new book has been published. It pays tribute to freedom, truth, and the dignity of the human soul. It’s my way of thanking America for saving me and my family, and giving me the opportunity to thrive. I wrote it to help others seek genuine freedom and find joy. Available on Amazon now: Pursue Your Freedom and Happiness.
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Empirical Creativity – An Important Tool for Successful Innovation
by Chris Banescu –
In the book Great by Choice, authors Jim Collins and Morten T. Hansen set out to discover why some companies thrive in uncertain and chaotic times while others do not. Their extensive research identified what they named “10Xers“, businesses that didn’t just get by or became successful, but “truly thrived” beating other companies in their industry by “at least 10 times.”
Collins and Hansen set out to find enterprises that (1) sustained spectacular results for 15+ years relative to their industries and the market, (2) achieved results in turbulent and uncertain times, and (3) began their rise to greatness while being in a position of vulnerability.
Out of the 20,400 companies they initially began reviewing, they discovered just seven 10Xers (10X businesses) who fit their stringent performance characteristics.
The authors’ found that all 10Xers displayed the following behaviors: fanatic discipline, empirical creativity, and productive paranoia, all animated by “Level 5 ambition.” [Read more…]
Hard Work Necessary to Transform Ideas and Plans Into Reality
“Plans are only good intentions unless they immediately degenerate into hard work.” ~ Peter F. Drucker
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The Government’s War on the Little Guy
by John Stossel –
Marty the Magician performed magic tricks for kids, including the traditional rabbit-out-of-a-hat. Then one day: “I was signing autographs and taking pictures with children and their parents,” he told me. “Suddenly, a badge was thrown into the mix, and an inspector said, ‘Let me see your license.'”
In “Harry Potter” books, a creepy Ministry of Magic controls young wizards. Now in the USA, government regulates stage magicians—one of the countless ways it makes life harder for the little guy.
Marty’s torment didn’t end with a demand for his license. “She said, from now on, you cannot use your rabbit until you fill out paperwork, pay the $40 license fee. We’ll have to inspect your home.”
Ten times since, regulators showed up unannounced at Marty’s house. At one point, an inspector he hadn’t seen before appeared. He hoped things had changed for the better. [Read more…]
Jeff Bezos (Amazon): Top Ten Maxims for Business Success
Chris Banescu –
Jeff Bezos, the founder and current CEO of Amazon.com, offers ten maxims that have helped him turn Amazon into the world-class company it is today. Leaders should consider these important principles if they want to insure the long-term success of their businesses. The list was compiled by George Anders, Forbes contributor who writes about management, careers and unforgettable personalities. This story appeared in the April 23, 2012 issue of FORBES magazine.
1. “Base your strategy on things that won’t change.”
Selling lipstick, tractor seats, e-book readers and data storage is all part of one big plan with three big constants: offer wider selection, lower prices and fast, reliable delivery.
2. “Obsess over customers.”
Early on Bezos brought an empty chair into meetings so lieutenants would be forced to think about the crucial participant who wasn’t in the room: the customer. Now that surrogate’s role is played by specially trained employees, dubbed “Customer Experience Bar Raisers.” When they frown, vice presidents tremble. [Read more…]
Seven Reasons Why Venture Capitalists Will Hate Your Idea
by Josh Linkner –
Having witnessed thousands of entrepreneurial pitches as a venture capitalist, I’ve seen the gamut from the good, the bad and the ugly. Of the pitches any VC sees, very few will actually receive funding; there are a lot of factors in that equation, so even for those companies that might be appealing, terms, location, market share, traction and other hurdles sometimes get in the way of signing a check.
However, you’ve got no shot at funding if your potential venture capitalist flat-out hates your idea. If your “next great” idea has any of the following characteristics, there’s a solid chance a VC isn’t going to dig it. [Read more…]