Archive for May, 2008
Leave Home While You Know Everything
May 23rd, 2008 categories: Entrepreneurship
Mark Twain left home at eighteen years of age, having heard enough of his father’s wisdom. After returning a few years later, he couldn’t believe how much his old man had learned.
I just love bushy-tailed know-it-all’s—young entreprenerps who’ve obviously never read Michael Gerber’s “E-Myth.” Go forth young technician and conquer the world. Surely your exceptional skills as a salesman/broker/engineer/coder/designer/whatever, will propel you to great heights, once you catapult over your air-conditioned cubicle.
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Dead Deal Walking
May 6th, 2008 categories: Venture Capital
It pains me to mention how many times I’ve heard this phrase: “If I can only get through the door, I’ll sell this deal.” Sure you will – if the door’s made of Balsa Wood and you’re strapped with explosives. Short of that, you don’t “get through the door,” you’re invited in – and once you’re there (wherever there is), don’t be too discouraged if you hear chanting from the bowels of back office… “Dead Deal Walking!”
I know, you’re probably scratching your head right about now, wondering how this catchphrase relates to your big shot. In Vulture cackle, Deal Deal Walking is a fraternal battle-cry – a cheer of enthusiasm that assumes another “stew worthy” entreprenerp is about to be skinned, and there’ll be meat for everyone.
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Keep Your Napkin In Your Lap
May 1st, 2008 categories: Deal Making
If I had a sliver of ever deal that ended up in the toilet as a result of partner infighting, I’d own Berkshire. If napkins were intended to be legal instruments, people wouldn’t use them to wipe their chins, blow their nose in, or clean up spills. Napkins are fine for sketching ideas at the coffee shop, but you’d better memorialize your shared inspirations with a definitive agreement, if you want to avoid future headaches. Good faith, goodwill, and good intentions are mere spittle, irresponsibly mouthed from the lips of naive deal-makers, giving little consideration to what matters most – implementation. This “googley talk” always precedes the perfunctory palm pressings that underscore every narrowly defined deal.
For all the use of the word “good” in the early stage deal-making, there’s still one missing… good luck - because if you intend to make a deal with that napkin in your lap, you’re going to need it.
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