Most Businesses Make Little or No Money
The fact of the matter is that many small businesses should not be started in the first place. They suffer from a weak business model,…
To Achieve Greater Success as an Entrepreneur, Make Intelligent Use of Leverage Wherever You Can
Always be looking for ways to use leverage, in every aspect of your business. As you pursue your dreams, keep in mind that it will…
Long-Term Sustainable Advantage is Very Rare in Small Business, and Beyond
Most investors and many entrepreneurs like to talk about creating “long-term, sustainable competitive advantage” – don’t spend too much time on this one, as it’s…
Become the “Guru” of Whatever You Do in Your Small Business
Become a guru; become known as the leader of whatever you do – your success certainly (and perhaps even your survival) depends on it, in…
For Entrepreneurs – 5 Key Character Traits to be Successful
A friend recently asked me what I thought were the top five character traits one must have (or develop) to be successful as an entrepreneur. …
You Cannot Get Away From The Risk/Reward Tradeoff as a Small Business Entrepreneur
If you are presented with opportunities that seem to violate the well-known risk/reward tradeoff, be very suspicious. The old adage, “if it seems too good…
If You Are a Prospective Startup Entrepreneur, Show Me Your First Five Paying Customers
This is a great one for all startup ventures to consider. I think I first heard this from one of my first mentors, Ian MacMillan. …
Entrepreneurs Shouldn’t “Build a Marble Staircase to a Parrot Cage”
This is a quote from one of my most important early mentors, Ian MacMillan (Mac). As Shakespeare put it, “a rose by any other name…
For Entrepreneurs, True Brilliance is Often in the Simplification of Complex Ideas
As an entrepreneur, don’t be overly impressed with complexity and flash; rather, be impressed by simplification. Consultants tend to make simple concepts complicated – that’s…
As an Entrepreneur, Don’t Business Plan in a Vacuum
You must plan in the real world, with facts, not fiction. In other words, don’t plan “in a vacuum”. I can’t tell you the frequency…