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…
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…
To Be Successful as an Entrepreneur, Do Projects in Bite-Size, Achievable Chunks
You must break down everything you do, no matter how complex it is, into bite-size, manageable chunks. With all the tasks you have to manage…
Bureaucracy Stifles Entrepreneurship and Innovation; Avoid It Like The Plague
Bureaucracy is the “anti-entrepreneur”. Avoid bureaucracy like the plague, in your company for sure, but also in the people and other companies with which you…
A Great Idea or Technology is Not Sufficient for a Great Small Business
Technology is important, but it is not sufficient for a business to succeed. Some businesses hardly use technology at all – in the long run,…