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The 7 Habits of Highly Effective Mediocre Entrepreneurs

The 7 Habits of Highly Effective Mediocre Entrepreneurs
[Editor’s note: James Altucher is an investor, programmer, author, and entrepreneur. He is Managing Director of Formula Capital and has written ten books. His latest books are I Was Blind But Now I See and 40 Alternatives to College. You can follow him on Twitter @jaltucher.] I’m pretty mediocre. I’ve started a bunch of companies. That said, all entrepreneurs should be so lucky. If you want to get rich, sell your company, have time for your hobbies, raise a halfway decent family (with mediocre children, etc), and enjoy the sunset with your wife on occasion, here are some of my highly effective recommendations. - Procrastination – In between the time I wrote the last sentence and the time I wrote this one I played (and lost) a game of chess. Procrastination is your body telling you you need to back off a bit and think more about what you are doing. Try to figure out why you are procrastinating. Procrastination could also be a strong sign that you are a perfectionist. (has never failed) Related:  au boulot !Startup lessons

A 26 ans, la France m’a déjà fait perdre toute ambition professionnelle Je vis dans un pays qui aime cantonner les gens dans des secteurs sans jamais les laisser en explorer d’autres, quand bien même une forte passion existerait pour un tout autre domaine. Je vis en France. Pour certains, c’est une chance. Dans mon cas, c’est la source d’un profond ennui. A 26 ans, j’ai un parcours classique et sans fausse ni mauvaise note. L’envie de gagner de l’argent J’ai toujours aimé écrire, la sociabilité est un de mes points forts et je fourmille d’idées. J’en avais marre de vivre dans un 9 m2, d’aller à la laverie un soir par semaine, de servir des clients blasés le week-end pour remplir difficilement mon bien maigre compte en banque, et de ne pas pouvoir m’acheter les fringues sur lesquelles la passionnée de mode que je suis flashais souvent sans jamais craquer. J’ai donc travaillé dans un grand groupe bancaire pendant quelques années avec un salaire alléchant. Self-made woman Et puis je me suis lassée, un peu, beaucoup. Je suis une passionnée de mode.

Richard Branson’s Five Rules for Epic Entrepreneurship | The Labor Academy Like this article? Please share it! Would you be willing to listen to advice dropping from the lips of a guy that regularly makes the Forbes billionaire list and holds the esteemed position of 4th wealthiest citizen in the United Kingdom? If your answer is yes…read on! Sir Richard Charles Nicholas Branson is best known for his Virgin Group of companies including Virgin Megastores (Virgin Records) and Virgin Atlantic Airways. Branson built his extensive empire using five core principles. If you don’t enjoy it, don’t do it. Be innovative: This is a must if you want to build a business that really succeeds. Your employees are your best asset. Lead by listening: Get feedback from your staff and customers on a regular basis. Be visible: Market the company and its offers by putting yourself or a senior person in front of the cameras. Mr. 1. Mr. What do you think about the 5 rules? Like this: Like Loading... About the Author: Robbi Gunter

The Post-Employee Economy: Why Sky-High Profits Are Here to Stay - Conor Sen The end of the age of consumption and the decreasing need for labor are more related than you think Reuters Robots have come to destroy our way of life, just as we saw in Terminator 2: Judgment Day, though not as we expected. They're taking our jobs, and are forcing us to reexamine how we value ourselves. One can easily make the case that the only thing "wrong" with the economy in 2012 is that growth is below-trend due to the financial crisis and subdued public/private sector response, and capital has gained an outsized share of income gains relative to labor since the year 2000. The issue, if you're labor anyway, is those productivity gains accrue to consumers and the owners of the factors of production, not labor. It's a bit perverse that we cheer the gains in health-care employment while we decry the rise in health-care costs - the two are related.

Where Have The Users Gone? Editor’s Note: Nir Eyal writes about the intersection of psychology, technology, and business at He is the author of the forthcoming book “Hooked: How to Drive Engagement by Creating User Habits”. Step 1: Build an app. Step 2: Get users hooked to it. Step 3: Profit. It sounds simple and, given our umbilical ties to cell phones, social media, and email inboxes, it may even sound plausible. Well hold your dogs Pavlov! The good news is that that companies that accomplish this rare feat are the ones associated with game-changing, wildly successful innovation. Habits or Hype? But claiming that habits are the keys to success is a tall order. Zynga, an enterprise whose business model depends on hooking millions of people to its games, is hemorrhaging users, employees and investors. Turns out that like any discipline, habit design has rules and caveats which explain why some products change lives forever while others create fleeting fads. Habits are LIFO Keep ’em Guessing

It's the 21st century – why are we working so much? | Owen Hatherley If there's one thing practically all futurologists once agreed on, it's that in the 21st century there would be a lot less work. What would they have thought, if they had known that in 2012, the 9-5 working day had in the UK become something more like 7am to 7pm? They would surely have looked around and seen technology take over in many professions which previously needed heavy manpower, they would have looked at the increase in automation and mass production, and wondered – why are they spending 12 hours a day on menial tasks? It's a question which isn't adequately answered either by the right or by the official left. Conservatives have always loved to pontificate about the moral virtue of hard work and much of the left, focusing on the terrible effects of mass unemployment, understandably gives "more jobs" as its main solution to the crisis. Here too, though, the idea was that this would eventually be superseded.

Why Payments Startups Fail: A Lesson In User Behavior | Platforms and Two-sided Markets Users hate having to learn entirely new behavior. Products that find rapid adoption typically try to fit into existing user contexts. Introducing entirely new behavior may lead to barriers in adoption and this problem is compounded in a two-sided network where having to learn new behaviors on both sides can make the mutual baiting problem of seeding the network even more complicated. Mobile Payments is a particular case of two-sided network activity where users prefer trying the most accepted behavior and new behavior takes time to find adoption. Seed a new model by changing user behavior on one side That’s exactly why Square has done so well, targeting one side exclusively. Reintermediate an existing model without changing user behavior on one side MPESA established itself as a revolutionary payment mechanism in Kenya for a similar reason. Joel Spolsky refers to this phenomenon in the technology space where he refers to it as ‘backward compatibility’ .

The Two Types of Speed Do You Need To Be A Jerk To Be A Successful Entrepreneur? Editor’s note: Legendary investor Vinod Khosla is the founder of Khosla Ventures. You can follow him on Twitter at @vkhosla. And make sure to catch Khosla’s fireside chat at Disrupt SF at 1:55 pm PT on Wednesday. I recently read Ben Austen’s WIRED article about Steve Jobs, which prompted me to put together my thoughts about the tradeoffs of being a successful entrepreneur. 1. 2. 3. 4. I’m not interested in commenting on Jobs’ personality and what it was or wasn’t. “Build a team of A players” is part of the entrepreneur’s catechism. Being clear about not tolerating B players and fixing any hiring mistakes is key. The ability and willingness to make tough calls, whether they involve products or people, is part of the required skill set for entrepreneurs. That being said, I prefer brutal honesty to hypocritical politeness. Good etiquette, unless it gets in the way, increases the probability of success. Setting a high bar for performance has to be part of the company culture.

What makes a good engineering culture How Do Companies Develop Habit-Forming Products? Management Secrets: Core Beliefs of Great Bosses A few years back, I interviewed some of the most successful CEOs in the world in order to discover their management secrets. I learned that the "best of the best" tend to share the following eight core beliefs. 1. Business is an ecosystem, not a battlefield. Average bosses see business as a conflict between companies, departments and groups. Extraordinary bosses see business as a symbiosis where the most diverse firm is most likely to survive and thrive. 2. Average bosses consider their company to be a machine with employees as cogs. Extraordinary bosses see their company as a collection of individual hopes and dreams, all connected to a higher purpose. 3. Average bosses want employees to do exactly what they're told. Extraordinary bosses set a general direction and then commit themselves to obtaining the resources that their employees need to get the job done. 4. Extraordinary bosses treat every employee as if he or she were the most important person in the firm. 5. 6. 7. 8.

Why I got Fired from Facebook (a $100 Million dollar lesson) 12.9K Flares12.9K Flares × Can I be real with you? Real real? (A note from Zuck) I’m TIRED of answering this question so I’d rather write it out and just point people to this post. Let me start in reverse. I can tell you every detail of the day I got fired aka “let go” aka “down-sized” aka “shit-canned.” I thought I was going to a routine coffee with my boss and randomly saw Matt Cohler sitting at the table inside (surprising)! I knew something was amiss. Then I proceeded to the Verizon store to use their phone, called my gf (at the time) and drove to the house I shared with 6 other FB guys. Packed up all my stuff in my CRX, smoked a 1/2 pack of cigarettes on the balcony and drove to my friend Johnny’s place. Later that night we had a bbq at this place and everyone was asking me how the job was going…. I kept drinking that night to pass out and pray this was all a bad dream. At that time, here’s the order of what was important in my life: To spell it out. WTF! 1- Grower. 2- Show-er. 3- Veteran.