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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

How To Thrive In The Free-Product Economy Building technology has never been cheaper than it is today. Or faster. In the past twelve months, Ruby on Rails programmers built more than a million apps on top of Heroku, a platform that allows coders to save drastic amounts of development time. Historically, the majority of the cost of a typical app comes from maintenance, says Heroku COO Oren Teich; companies like his build layers of technology that deplete those setup and maintenance costs--not to mention experience required--to build software. "Innovation is increasing," Teich says. "This is a huge trend we're seeing day after day." Moore's Law says computer processing power gets steadily cheaper and faster to produce. If a product on the market can be monetized by any means other than directly selling it, a comparable version of that product will eventually be offered for free. It's Happened Throughout History Early newspapers cost money; we paid for the product. It Happens Because Of Networks It's Happening In Enterprise

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.

How to make the most of Twitter when you’re a small B2B company | techbubblestechbubbles One of the most common reasons why small business owners avoid social media is time. When you are busy trying to manage customers, staff and cash flow, an hour spent on Facebook, Twitter or even LinkedIn can seem like an hour wasted. But ignore these tools at your peril. There is a common perception that Twitter in particular is a time-consuming source of idle gossip, celebrity chitchat and revelations about what was for lunch. This perception is not entirely groundless – there is a lot of fluff out there and you do need to devote some time to it daily – but Twitter can also be a rich source of information and business leads. We have successfully used it for recruitment, media relations and competitor research for our clients; we even used it to find our new office space in Manchester. When you set up your Twitter ID, make it clear who you are. Whether you are tweeting as a company or an individual, use your Twitter biography to explain who you are and why you are there. Plan ahead.

New wave of entrepreneurs seek fast fortunes Alan Bond, pictured in 1995. Photo: Patrick Cummins Once upon a time the word 'entrepreneur' made Australian investors cringe. In the heady days of the 1980s, high-profile entrepreneurs such as Christopher Skase and Alan Bond amassed vast fortunes, only to lose the funds of investors in the wake of the 1987 stockmarket crash. It's sad what happened to the world entrepreneur back in the 1980s It hasn't always been the way. Everyone, it seems, wants to be the next Mark Zuckerberg. Nolan Bushnell, the founder of founder of Atari, famously said: "The critical ingredient is getting off your butt and doing something. Advertisement A new generation is now working to reclaim the word. The second internet boom has allowed a generation of young businessmen to make fortunes, and make them fast. Indeed, August seems to be entrepreneur month in Australia. From the dark days post-'87 crash, there now appears to be no end to the opportunities for rising business stars. Zuckerberg clan beware.

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

All Revenue is Not Created Equal: The Keys to the 10X Revenue Club May 24, 2011: May 24, 2011: [Follow Me on Twitter] “ Don’t you know that you are a shooting star,And all the world will love you just as long,As long as you are.” – Paul Rodgers, Shooting Star With the IPO market now blown wide-open, and the media completely infatuated with frothy trades in the bubbly late stage private market, it is common to see articles that reference both “valuation” and “revenue” and suggest that there is a correlation between the two. What drives true equity value? Because of the difficulty of getting DCF right, investors commonly use a handful of other shortcuts to determine valuations. The following chart highlights 2012 forward price/revenue ratios for 122 global Internet stocks. Before we talk about why there is such disparity, it is important to highlight a few more points. What causes such a wide dispersion of price/revenue multiples? 1. If high price/revenue multiple companies have wide moats or strong barriers to entry, then the opposite is also true. 2.

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.

What Successful People Do With The First Hour Of Their Work Day Remember when you used to have a period at the beginning of every day to think about your schedule, catch up with friends, maybe knock out a few tasks? It was called home room, and it went away after high school. But many successful people schedule themselves a kind of grown-up home room every day. You should too. The first hour of the workday goes a bit differently for Craig Newmark of Craigslist, David Karp of Tumblr, motivational speaker Tony Robbins, career writer (and Fast Company blogger) Brian Tracy, and others, and they’ll tell you it makes a big difference. Don’t Check Your Email for the First Hour. Tumblr founder David Karp will "try hard" not to check his email until 9:30 or 10 a.m., according to an Inc. profile of him. Not all of us can roll into the office whenever our Vespa happens to get us there, but most of us with jobs that don’t require constant on-call awareness can trade e-mail for organization and single-focus work. Gain Awareness, Be Grateful Choose Your Frog

3 Skills Every Entrepreneur Needs: Perseverance, Respect, Innovation While the young business grad was outwardly enthusiastic, I sensed an undercurrent of fear. With bright eyes and animated hands, she had spent 10 minutes describing her plans and goals. However, I could tell that--staring into the abyss of her adult life--she was a bit uneasy about her future. She was right to be a little afraid. When carving a niche in the world of business and entrepreneurship, academic knowledge is rarely enough to guarantee success. To actually compete and win--particularly as an entrepreneur--you'll need some additional skills. I'd like to share three I picked up along the way. Perseverance We've all heard of the "fight or flight" response. When faced with an uncertain future, many people choose to do nothing. The simple truth is that every monumental endeavor can only be achieved in increments. Many people fail because they give up at the first sign of difficulty. Respect Bonus tip: Seek out the stories of the veterans, the founders, and the ground-breakers.

Where Have The Users Gone? Editor’s Note: Nir Eyal writes about the intersection of psychology, technology, and business at NirAndFar.com. 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

North of Where We Are Today: Live Nation Labs in San Francisco - Live Nation Labs By Eric Garland [Update: Rexly duderino Joel Resnicow has written a better and more informative announcement. Please read his first.] Tonight I’m feeling reflective, on the eve of the announcement that we have acquired iPhone social music star Rexly and that the Rexly team will establish our new San Francisco presence, Live Nation Labs North, or LN² as it’s already known around here. I’m feeling reflective (in addition to yeehaw, hellyeah, and damnright) because Joel and Kyle have just entrusted to the Labs something handmade, something precious and rare. I did that myself just a few months ago. I’m also feeling reflective because with team Rexly we continue to recruit the people who inspire us. After we started the Labs, but before we’d told anybody what we were up to, Ethan and I started sneaking** up north to court Rexly. The Live Nation Labs sketch looked a lot like Rexly’s sketch. I believe: A team of true believers will beat non-believers almost every time. **Well, I was sneaking.

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.

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