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Showing posts from December, 2013

What's it take to be successful? Okay, my shot at what I think.

I love reading what people think makes an entrepreneur successful.  Mostly because it reminds me everyday that there is no secret formula.  Every article is written to the writer's perspective, and it really is so different from person to person.  Take the latest article I read: The Single Most Important Habit of Successful Entrepreneurs.  The author, Mr. Dan Kennedy of Entrepreneur, argues that punctuality is [his] criteria.

Kennedy writes about the relationship between respecting another person's time with the respect of the other's opinions.  It's a relay and reciprocation of respect of the other's time with the respect of his/ her own time.

If anything, I would say that being detail-oriented would be my gauge of success.  Aside from potentially the mental aspect of being "gritty", I have to say that being detail-oriented is my biggest criteria.  I admit -- being detailed is kind of a big bucket.  It includes things like being detailed enough to che…

A little bit of Psychology in Business? No. A LOT.

On any given day, there’s about a 60% chance you’ll find me at Starbucks working.  It’s a great, free working space complete with vibrant energy, wake-up aromas, and, especially this time of year, snowman sugar cookies.  Ah, and there’s usually a fascinating collection of people hanging out/ working.  This past Friday night, I was writing some Holiday/ Thank You cards to our customer-partners and other prospects when I was complimented on our cards by a fellow Starbucker (yes, handwriting them – crazy in this day of keyboard and touchscreen typing, I know). 
My new friend is an MBA student at Georgia State, and was a previous Psychology major in undergrad.  She was worried a bit about having a non-business background and post-graduate opportunities.  This was a great conversation for me because I’ve long appreciated how psychology intertwines with business.  It’s not readily apparent, but it really is.  Talk to any good salesperson, and he’ll know exactly how to talk to you and pote…

Companies are Icebergs: Why Copycats Don't Equal Instant Success

My buddy just sent me this article from The Next Web about the potential costs to build some of today's big players in "startups" including Twitter, Instragram, Facebook, Uber, etc (see "How much does it cost to build the world's hottest startups?").  They're not really startups anymore, though, I'd argue.  But of course, they used to be.  Here are some of the highlights:

Twitter:  May not take long to build the core -- 10 hours and a good $160 Ruby on Rails course.  But to really get to a Minimum Viable Product (MVP) you have to pour in about $50K-$250K for processes, infrastructure, and the like.Facebook: One expert quoted $500K (min) and 9 months of development and design team.  The real costs, however, is the support.  The expert estimates a monthly burn-rate of $30MM just for its infrastructure so we can Like, Share, and watch videos of kittens!Uber: Uber "scrapped by" with $50MM to build what the service is now, and then Google and Be…