Entrepreneurship Tips

‘I Paid For Fine Dining, But I Got McDonald’s’: MBA Student Testifies In Rankings Fraud Trial Kristy Bleizeffer  Ousted Temple Fox Dean Moshe Porat After nearly three years and almost $120,000 in federal loans, Ibrahim Fetahi says his degree from Temple University’s Richard J. Fox School of Business and Management is not worth the hefty investment nor his nearly $100,000 in outstanding debt. “In my mind, I paid for fine dining, but I got McDonald’s. Yes, I got food, but I didn’t get the quality I paid for, or the service,” Fetahi testified today (November 10) in the federal criminal...

Creating a Culture of Innovation to Win Entire Markets Are you in charge of innovation? Every CEO is. And many others should be too. Peter Drucker famously said: “Companies have only two jobs: Marketing and Innovation”. I believe he is 100% correct as everything else is relatively easy. The other things do not need much creativity, which is the rarest resource. This is why Hollywood screen writers, Producers, top Directors and Authors make very big bucks.  Not to mention successful Entrepreneurs like Elon Musk.  Who BTW spends almost all his time on product focused innovation. These two videos, and guiding...

  BEFORE After 3 Years   Revenue $20M, low profitability at < 10%   Four Locations, one failing Founder stressed with no real management team Growth rate: 15% CAGR Poor morale and recurring revenue with high employee turnover. Business Value: ~ $20 million   Revenue $40 million, high profitability at over 25% not including huge increase in enterprise value Six locations Founder has full team in place (done in first 6 months).  Less stress, more success and growth. CAGR: 40%-50%+ Morale improved greatly. Reduction in turn-over especially in senior positions. Offer to buy from Private equity firm for $60 million...

Get More Done, but Also Get the Right Stuff Done Effective time management is accomplished by using the Pareto principle of 80-20.  Making sure that  80% of your time is spent on the 20% of the work that makes most of the difference.  Some have called this the Picasso work. Where creativity, talent or experience is critical.  The book Blink by Malcolm Gladwell also discusses this principle and calls it reaching the level of unconscious competence.  Brain science and scanning have recently proven the biology behind this, whereby human beings used neuroplasticity to rewire their brain for certain sophisticated tasks....

Well, I think the question is the wrong one to ask, really. It trivializes entrepreneurship. Would you ask, “How do I do my first brain operation?” Or “how do I play Carnegie Hall?  Nope!  The question should be what do I do to prepare to launch a startup? First understand that ideas are literally worthless. The press promoting the concept that an "idea is worth millions" is a problem. Building a company takes many things, and the person with only an “idea” has no chance. It is typically a 3 to 5 year to turn an idea into a business....