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Talent alone is usually not adequate for your adVenture to succeed. A tragic number of young athletes, musicians and scholars who master their sport, instrument...

(Non)Sense of Entitlement – Entrepreneurs Need The Whole Package To Succeed: Talent, Temperament and Tenacity

Talent alone is usually not adequate for your adVenture to succeed. A tragic number of young athletes, musicians and scholars who master their sport, instrument or area of study are unable to translate their natural gifts into a level of success commensurate with their abilities. In some cases, the relative ease with which they achieve their accomplishments is a handicap that precludes other aspects of their character and personality from developing in an appropriate and healthy manner. Sometimes, when winning comes relatively easy to such prodigies, they develop a poor work ethic, an inability to constructively deal with adversity and a glaring sense of entitlement. An entitlement mentality can lead to a feeling of irreplaceability. However, successful entrepreneurs realize that some people are indispensable but no one is irreplaceable.
Bilbo’s offer letter from Thorin in J.R.R. Tolkien’s The Hobbit exemplifies the proper attitude that you must have when joining an adVenture. “Thorin and Company...

Joining An adVenture

Bilbo’s offer letter from Thorin in J.R.R. Tolkien’s The Hobbit exemplifies the proper attitude that you must have when joining an adVenture. “Thorin and Company to Burglar Bilbo, Greetings! For your hospitality our sincerest thanks, and for your offer of professional assistance our grateful acceptance. Terms: cash on delivery, up to and not exceeding one fourteenth of total profits (if any); all traveling expenses guaranteed in any event; funeral expenses to be defrayed by us or our representatives, if occasion arises and the matter is not otherwise arranged for.”
"To let the brain work without sufficient material is like racing an engine. It racks itself to pieces." Sherlock Holmes in "The Adventure of the...

Competitive Sleuthing

"To let the brain work without sufficient material is like racing an engine. It racks itself to pieces." Sherlock Holmes in "The Adventure of the Blue Carbuncle" Too many entrepreneurs stress about their competition without having enough information to make informed decisions. They need to move beyond the emotional aspects of competing and develop multiple, largely free, sources of competitive information. There is no need to hire an expensive consultant. As noted in, "Competing From the Fringe," dedicate a senior member of your team as your "Watson" (you cannot afford a Sherlock, after all). Watson's role is to diligently and consistently mine the readily available data sources noted below and periodically communicate the state of the competitive landscape to your Core Team.
According to Wikipedia, Backmasking is, “a recording technique in which a sound or message is recorded backwards onto a track that is meant to be...

Backmasking Forensics – Uncovering Hidden Messages in Agreements

According to Wikipedia, Backmasking is, “a recording technique in which a sound or message is recorded backwards onto a track that is meant to be played forward.” In some instances, seemingly random sounds take on questionable meaning when played backwards. In Led Zeppelin’s Stairway to Heaven, Robert Plant seems to say, “Oh here’s to sweet Satan. He’ll give those with him 666.” When the Beatles’ Revoultion 9 is played in reverse, there is a brief passage that sounds something like, “Turn me on dead man,” which heightened the “Paul is dead” rumors of the early 1970s. However, backmasking is often a deliberate process, in which artists send messages to their diehard fans who relish discovering and decoding the hidden communications. It is usually arduous to discover and decipher audio backmasked messages. However, the process of decoding the hidden messages in your partner agreements is much simpler. You can perform such agreement forensics by looking for the clues outlined below. One such clue proved to be worth $20 million to one of my adVentures.
“When I looked up from the menu, I was staring into the eyes of a man who had been dead for three years.” – Opening...

Pulp Facts – Entrepreneurial Press Releases Should Generate Revenue

“When I looked up from the menu, I was staring into the eyes of a man who had been dead for three years.” – Opening sentence from “Time of Terror” by Louis L’Amour “When Speeke came at last to water, he was two days beyond death.” – Opening sentence from “That Man From the Bitter Sands” by Louis L’Amour Successful pulp fiction writers like Louis L’Amour had to grab their readers with their first sentence. They did not have the luxury of hoping readers would warm up to their stories after a few pages. Most pulp fiction fans flipped through the magazines before buying them and purchased the stories that grabbed them by their shirt collars and compelled them to read more. Your startup’s press releases must be as compelling as pulp fiction. If the reader is not engaged at the outset, it is unlikely they will take the time to read the remainder of your release.
In the Western movie The Magnificent Seven, the protagonists are escorted out of the town they were hired to defend, unarmed and under gunpoint. Once...

Humble Pride –Steadfast Resolve Is Vital To A Startup’s Success

In the Western movie The Magnificent Seven, the protagonists are escorted out of the town they were hired to defend, unarmed and under gunpoint. Once they are a few miles out of town, their gun belts are tossed on the ground and the banditos who defeated them ride away. The group’s leader, Chris, played by Yul Brynner, surveys his defeated men, trying to assess his team’s morale. With no preamble, James Coburn’s character, Honest Britt, jumps from his horse and straps on his gun belt while saying, “Nobody throws me my own guns and says, ‘Run.’ Nobody.” Honest makes it clear that he is going back to town, with or without the rest of the group. Several of the other riders dismount and silently strap on their gun belts as well, indicating their intention to join Honest. However, Harry, the Magnificent Seven gunslinger with the most overtly mercenary intentions, derides the group for their willingness to ride to their deaths. He attempts to enlist the support of his friend, Lee, by trying to convince him to abandon the team’s objective. Harry (angrily): “You’re crazy, all of you.” Chris (calmly): “Ride on Harry, it’s alright.” Harry: “Come on Lee.” Chris to Lee: “You don’t owe anything to anybody.” Lee (after a long pause): “Except to myself.” Harry then rides off alone. The remaining riders turn their mounts toward town, despite the risks they face.
One evening, early in 1972, a young itinerant truck driver living in a small Pennsylvania farmhouse was told by his wife that she was pregnant....

Pressure – The Mother Of An Entrepreneur’s Motivation

One evening, early in 1972, a young itinerant truck driver living in a small Pennsylvania farmhouse was told by his wife that she was pregnant. That evening, in a fit of desperation, he wrote one of the best selling songs of the 1970s. By the end of the week, he had written several new songs, which were included on the two Top Ten albums he released the following year. Pressure is good. Every system needs it to properly perform; airplanes, bloodstreams and the earth’s atmosphere. Just as it spurred the young musician, it is also a vital ingredient in a startup’s success.
Frederick Schiller Faust is a nobody. His face evokes no recognition; his name conjures no associations, nor do eighteen of his nineteen pseudonyms. However, one...

Max Brand – Entrepreneurs’ Branding Maxims

Frederick Schiller Faust is a nobody. His face evokes no recognition; his name conjures no associations, nor do eighteen of his nineteen pseudonyms. However, one of his aliases elicits widespread recognition. Nearly 65 years after Frederick’s death on the front lines during World War II, his celebrated penname remains an enduring brand that invokes a spirit of adventure and escape. Frederick and his publishers fostered his renowned nom de plume into a vibrant and meaningful brand. Many of the maxims utilized to create that lasting brand can be applied to your startup.
Standing on the courthouse steps, moments after receiving his permanent residency Green Card, John Lennon was asked if he harbored a grudge against the Nixon...

Time Wounds All Heels – The Importance Of Honesty To Successful Serial Entrepreneurs

Standing on the courthouse steps, moments after receiving his permanent residency Green Card, John Lennon was asked if he harbored a grudge against the Nixon Administration for tapping his phone, putting him under surveillance and mounting a multi-year attempt to deport him. Without missing a beat, John smiled and said, “Time wounds all heels.” Given the manner in which history has depicted Nixon and his Administration, truer words were never spoken.
You have been planning to ask your long-time girlfriend to marry you for months and the big day has finally arrived. In order to reduce...

PR Passion – Why Startups Should Never Outsource Public Relations

You have been planning to ask your long-time girlfriend to marry you for months and the big day has finally arrived. In order to reduce your risk of failure, you ask your roommate, who has proposed to several women previously, to pop the question on your behalf. Sound crazy? This is the approach many startups take when they communicate their story to the market. Rather than directly explaining their value proposition with all the passion and heartfelt stridency that only an entrepreneur can deliver, they outsource this communication to a Public Relations (PR) firm. PR agencies are expensive versions of Cyrano de Bergerac. Their best attempts to woo the media will never equal your ability to sing your own praises. Startup PR does not stand for “Public Relations.” Rather, it translates into “Passionate Relationships” and passion cannot be outsourced.
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