I think most start up founders are a bunch of stupid people, inexperienced, arrogant and for the most part terrible at making money.
They have such a high esteem of themselves and their shitty little product that they make me puke. No wonder why most of them never get funded.
My 10 basic tips for all those delusional entrepreneurs if you want to get somewhere in life:
1. Stop believing all the stories you tell.
If you are not brutally honest with yourself, you can’t make informed decisions that will truly improve your company. You need a healthy dose of skepticism to make real forward progress. Founders often highlight what looks good and hide what looks bad. This is fake traction. Try to avoid it at all cost.
2. Swallow your stupid ego.
Startup envy isn’t a good enough motivator to get you through the tough times. Thinking that such-and-such startup was just acquired for hundreds of millions of dollars and you are so much smarter than them is not a productive thought. Swallow your stupid ego and get real.
For More: http://ziadabdelnourblackhawk.com/turning-stupid-start-up-founders-into-real-players/
I strongly believe that China will continue to grow over the next few decades. It will increase not only its economic power but also its geopolitical power in the world. It will be not only a large consumer market but a strong breeding ground for innovations as well.
Twenty years from now, for a lot of global companies, China will be at the center of their strategies.
Besides, the Chinese have always been known as good entrepreneurs, and particularly good small-business people. This has been in the blood of the Chinese for maybe as long as the Phoenicians (Lebanese) have been trading. So you’ve got entrepreneurial people at the grassroots level who are very independent minded. They’re very quick on their feet. They’re prone to fearless experimentation: imitating other companies here and there, trying new ideas, and then, if they fail, rapidly adapting, correcting, and moving on.
For More: http://ziadabdelnourblackhawk.com/ignoring-china-is-no-more-an-option/
I am flabbergasted by how many seemingly smart people are inept at handling newly acquired wealth or how some can create a fortune exceeding $1 billion in a few years and then blow it all up faster than they acquired it.
This goes for professional athletes, entrepreneurs, actors, rock stars and lottery winners. Even those kids of baby boomers who find themselves with a minor inheritance can find lessons to learn in here.
The key is recognizing that your new found wealth is not an ongoing revenue stream, but more typically reflects a onetime windfall.
Why is that? Because you never know what the future holds no matter how much you plan… and because most importantly it’s real hard to replicate being in the right place at the right time.
For More: http://www.blackhawkpartners.com/handle-newly-acquired-wealth/
On September 14th, the Financial Policy Council will host a private briefing with a panel of four crowdfunding experts who will discuss how Wall Street investment firms can strengthen market share and viability through crowdfunding. The speakers Georgia P. Quinn, D.J. Paul, Chris Tyrell, and Joy Schoffler each have unique backgrounds in various industries, but share a common, extensive understanding of the financial technology sector and the effect that crowdfunding will bring to the investment world. Ziad Abelnour, the founder and chairman of Financial Policy Council Inc., will moderate the panel.
Once overlooked entirely by institutional investors, crowdfunding has now become a solid contender in the financial world, eclipsing angel investments and eventually overtaking venture capital as the primary method for funding new businesses.
“Crowdfunding is revolutionizing the type of investors that participate and the way they access deals, as well as the companies raising capital,” said speaker Georgia P. Quinn, a securities attorney specializing in crowdfunding, and CEO of iDisclose, a web-based legal disclosure platform to help companies raise capital. “It is reducing costs of capital and increasing access to investments, which has major implications for both Wall Street and Main Street.”
For More: http://www.financialpolicycouncil.org/FPCNEW/FPC_AboutUs.aspx?id=NEWS
To hear them tell it, venture capitalists aren’t too different from entrepreneurs. They build great companies. They create jobs. In short, they feel the entrepreneur’s pain.
But one of the first steps to a decent relationship with a VC is accepting just how different the two of them really are. It is a fact that compared to entrepreneurs, VCs have different loyalties, sometimes diametrically opposed interests, and a lot less at stake.
Having been interacting with VCs for around three decades now, I thought of sharing with you what a VC will not tell you.
So here we go…
1. Savvy VCs understand that less than 1% of venture-backed technology startups will ever achieve a $1B+ mark cap. As a result they seek category potential, not current company performance. They look to identify companies leveraging technology to build and dominate new market categories. If the category is big enough and the category king is dominant enough, current valuation is almost irrelevant. The key to making their investment decisions is understanding category potential and the ability of the category king to define, develop and dominate the space over time. As a result legendary VCs study category potential.
For More: http://ziadabdelnourblackhawk.com/what-venture-capitalists-will-not-tell-you/
If you ask ten funded entrepreneurs what happened during the VC/private equity due diligence process, you will get ten different answers. Some will say they lost valuable months answering endless questions for groups that never produced a term sheet. Others may admit they gained valuable insights to their business.
I am uncertain when the due diligence process gathered so much mystique, but among entrepreneurs, there is still an urban “myth status” about what happens behind close doors.
We believe it shouldn’t be a mystery. Understanding due diligence improves the information flow between private equity groups and potential entrepreneurs. Better information leads to better investment decisions and better long term partnerships.
For More: Due Diligence Is No Mystery
The haggling between Democrats and Republicans is over, as President Barack Obama and House Speaker Nancy Pelosi’s nearly $800 billion “stimulus” program becomes law and the cash works its way into the economy. But the burning question is: Will it work? Will this “stimulus” bill stimulate the economy?
We have heard endlessly from pundits on both sides of the aisle, from folks who call themselves economists and from politicians of every stripe about the efficacy of this package. But what do business leaders think? What do people in the capital business think? And most important, what do the markets think?
For More: No one asked the entrepreneurs
I meet with hundreds of entrepreneurs a year…from the smart operators to the ones as dumb and conceited as a rock to the real “game changers” out to change the world.
I have always been particularly intrigued with this last group of people.
Here are some personal thoughts as to what makes them unique in their own way in case you’re still wondering what differentiates a “game changer” from the rest of us.
Game Changers have:
1. An uncanny vision – One thing that is happening today the world over is the widening gap between rich and poor. The game changer is the one who can connect the dots better and faster than most people out there and pushes the next billion people towards financial inclusion, strategically and socially.
2. Swashbuckling Guts – This may sound obvious but never underestimate how gutsy this special breed of people can be…. in addition to the fact that they can transmit this trait to their inner circle too creating a viral effect second to none. Their “take no prisoners” approach is indeed contagious.
For More: Game Changer
I talk to and meet close to 500 entrepreneurs a year – from the true maverick game changers to the guys as arrogant and dumb as can be –
I believe what differentiates a killer serial entrepreneur from the rest of the crowd is frankly how they operate – no matter what product they are offering.
With around 30 year experience on Wall Street backing over 125 companies worth in aggregate over 10 billion dollars during the time period, I thought I’d share with you some of my thoughts in this regard.
For More: How Killer Serial Entrepreneurs Operate
A common question that often arises when I sit down with younger people is: ” Now that I am glad to have graduated, how do I find a job, what is your advice? What do I do? Can you really help me given the vast network of contacts you have?”
After listening to that question many times, I came up with a response which I believe says it all.
First off, why should you be looking for a job? Why don’t you think of something else? Why don’t you create for yourself and others a job and acquire the freedom and wealth you really want? Why don’t you create a new world for yourself rather than wasting yourself in chasing one tiny little job here and one tiny little job there?
For first time listeners and normal people this seems outrageous and a pretty radical and scary concept. They would ask: “How can I create jobs when I don’t have a job myself? It felt so contradictory to them.
For More: Why be a job seeker when you can be a wealth creator and job giver?