Daily Fact
December 21, 2009
80% of Twitter posts come from mobile devices.
Thought: How long will it be until Facebook lets you send a text message to your account to update your status? My guess…6 months!
When Did They Teach Professionalism?
December 18, 2009
This morning I got to the gym at 6:30. I had so much on my mind, that I didn’t realize it was 8:30 before I left. I kept trying to reason why we weren’t required to take professionalism classes in college. When preparing for the “real world” it should be important that we not only learn the facts but are taught how to go from a life of inappropriate drinking games to a life of professionalism.
When I started out my first job, everyone was so friendly – like they wanted to be my friend. Quickly I learned that these people were not my friends they were my co-workers. I needed to adjust my behavior from “let me tell you about my personal life”, to a simple “Good Morning!” and then continuing on with my day.
I feel like this is really hard for a college student. I wanted everyone to like me, and thought this would happen if I became their friend and did everything they asked. This was terrible for my career.
I wish I had a mentor by my side constantly telling me I should say “NO” to doing the work that everyone else did not want to do. A mentor that told me what I was doing is ruining my office image – and not allowing me to gain respect from my co-workers. What I was doing, was creating a image for myself that would put me in the spot to be the corporate intern forever.
I keep trying to find that moment in college that I would learn what professionalism is all about, but I cannot think of one – maybe I skipped on the day we had that conversation.
If I ever have my own startup, I am going to make sure that I am not just an employer, but a mentor as well. I wish I received the knowledge I am receiving now 5 years ago – maybe then I wouldn’t feel so lost in the office sometimes.
Lifestyle Businesses
December 18, 2009
I keep learning about lifestyle businesses and they seem so simple and wonderful. A lifestyle business is a business thats main purpose is to maintain a certain amount of profit so the founder can enjoy a particular lifestyle.
How wonderful does that sound? It seems like such an easy way toward financial independence – at least for me. Lifestyle businesses tend to be simple. They do not require lots of capital and typically are smaller, more creative businesses.
This seems so great, but I want to be an entrepreneur. An entrepreneur is not someone that has a lifestyle business. Well, an entrepreneur may have a lifestyle business on the side, but that is definitely not their only source of income. I want to be the type of entrepreneur that sets out to change a piece of society. I want to be someone that creates a multiple million dollar company and changes the way people live their lives.
However, I do not want to jeopardize my ethics just for some money. I want to do something that I absolutely love and have a true passion for and hope the money follows. I understand that not everyone in the world is going to have the same passions as I have, but I hope I can reach people with my company and someday it becomes their passion as well.
However, until I create my multi million dollar company I am going to continue loving the lifestyle business idea. Something needs to change
Daily Fact
December 18, 2009
Did you know…The number of texts sent and received everyday exceeds the total population of the planet?
I wonder if this is why sites like Texts From Last Night and Texting While Intoxicated are so popular!
Guy Kawasaki’s 10/20/30 Rule
December 17, 2009
The Art of Pitching: When pitching your venture to possible investors, one must always remember the 10/20/30 rule…
1. 10 Slides in Your Presentation
2. 20 Minutes
3. 30 Point Font
If you keep it short, there is a better chance your prospects will retain some of the information you are giving. Most meetings are around an hour, thus you want to keep your presentation short so there is plenty of time for discussion. The discussion is what truly makes or breaks your deal. Finally, 30 point font is absolutely necessary because the people you are pitching to are probably older with weaker vision. Kawasaki also states, “A good rule of thumb for font size is to divide the oldest investor’s age by two, and use that font.”
These are simple things to remember about your pitch and things I have struggled to remember. My biggest issue is that no one cares what I have to say, they just want to know the facts and figures and then I can keep my mouth shut. I would look more professional and reliable in a businessman’s eye if I spent most of my presentation listening to what the investors have to say. I think the hardest thing to understand – yet the most important – is that even though you want to go into detail and explain, explain, explain, you truly just need to shut up and listen to what everyone else is saying.
Here is the problem, I was born to be frustrated when people do not understand what I am talking about. I was born with the problem that I cannot stand listening to stupid people talk. I do not have the ability to sit in a room with people and not share my opinion. With these being said, I feel as if I could never get a startup funded.
It is easy for me to only have 10 slides and 30 point font, but 20 minutes to convince investors to back my company? That will be tough.
My next step is to find a politeness to professionalism course.
Why NOT to Start a Business!
December 17, 2009
I think there is a time in everyone’s life where they think about running their own business. How wonderful would your world be when you are the sole decision maker and you don’t have to answer to anyone? How great would it feel to be making more money that at your previous job? And now you get to spend more time with your family!
While this all sounds like the perfect life scenario, if you start a business for solely these reasons – YOUR BUSINESS WILL FAIL.
The number one reason businesses fail is because they are started for the wrong reasons. You shouldn’t start a business to “get rich quick.” If that is your only reason, once you have the money in your pocket your business will begin to lack and eventually it’ll crumble. Remember there is a 50/50 chance a new business won’t make it to their 5 year mark.
The idea of spending more time with your family is great, but starting a business is a lot of work. You need to have the time to invest in your company, and continue that investment so your company can grow and be profitable. Starting a business for the sole reason to spend more time with your family is not a good idea, but basically you’re starting off saying that your family will always trump your business. A new business needs someone that is willing to work hard at it, invest 50-80 hours a week to get it to grow. Once your company is blooming you can hire others and only then can you spend more time with your family – well maybe.
My advice – NEVER START YOUR OWN BUSINESS JUST TO BE YOUR OWN BOSS! If this is the case, something is wrong with you. Either you think you’re way to smart to be underneath anyone, or you have a problem with authority. In both cases, you’ll come out with a failing company. While you may actually be really smart, thinking you’re to smart to work for someone is ridiculous. If this is the case, you’re going to have trouble when trying to find employees to help your business grow. Secondly, if it is the problem with authority you have – your business will probably fail. With everything you do in life you are always going to have to answer to someone. Whether it is your editor, your board, your investors, your employees, or your family – there is always going to be someone.
Starting a business is something anyone can do. Making it successful is for the select few people that truly have the entrepreneurial traits. Starting a successful business is not easy, but if you are doing it for all the right reasons, it can be done.
Daily Fact
December 17, 2009
Since 2007, Dell claims to have made $3 million via Twitter posts!
Hmmmmm – I would love to see how they got this number. But I am glad to see they are making their money back after the “Dude, I’m getting a Dell” guy hurt their image with his drug use!