samirabid.com

This is a great article for those looking at a tech start-up. It is a little biased towards young people starting a tech start-up but generally the 18 mistakes that kill start-ups is a good read.

Two parts resonated particularly strongly with me, and other (non-programmers) might have found the same:

Tip 6: Hiring Bad Programmers – the issue here is how to find a good programmer if you are not a programmer yourself, because you don’t have the skills to recognise one (if you can even find one!)

Tip 17: Fights Between Founders – “Don’t start a company with someone you dislike because they have some skill you need and you worry you won’t find anyone else. The people are the most important ingredient in a startup, so don’t compromise there.” - something I totally agree with but (as a non-coder) rather related to the above point.

This though could be the reason its so difficult to find good people who want to help you because “no one really good wants a job implementing the vision of a business guy.” And so lies the problem! … Perhaps its a case of ‘can’t beat them join them’ who knows.

Comments, thoughts and suggestions welcome!

Peldi at Balsamiq is a funny Italian chap. He is a programmer who is passionate about UX – odd given I have been repeatedly been told was impossible (left brain / right brain etc etc). Prior to starting his business, named after the Italian vinegar, he has worked solely at large corporates – also odd because “real entrepreneurs” don’t do that apparently.

Peldi is a great working case study of Guy Kawasaki’s philosophy around creating a business around “making meaning” not about making money – the philosophy is that the money will follow and it seems so in Peldi’s case (20,000+ customers, 6 staff and $3m Turnover from zero in 2 years!)

I am a fan and I recommend, if you’re in any way entrepreneurial or looking to (or are) working for yourself, finding the time to watch his talk.

He references a open list of free advice for entrepreneurs that he has created – the link is here in case you miss it.

Now, if anyone reading this knows of an awesome programmer, with great UX skills and a passing interest in motorsports, I have a great project needing their help and I am stuck …

As a nascent entrepreneur myself, I was interested to find this new nascent entrepreneur website.

The website is work in progress by the sound of it but definitely something I would be interested in joining, if its put together well – I have sign-up for up dates at least.

I am having a moment of consideration and consolidation. The online marketing consultancy is open for business and the website is getting visitors from around the world everyday.

The open question remains: Which industry sector?

Although now skilled with the tools to work in any business in any industry, people want reassurance you know their industry and have direct experienced their problems.

Otherwise, they may argue, what value can you really bring them?  Their perception is maybe you don’t understand what they are going through. Furthermore, to sell consultancy you have to sell either a saving or an increase in revenue.  To justify the fee’s you charge, without sector experience, this is almost impossible by any ethical process.

It was through thinking about this sector problem that I took the opportunity to take a step back and evaluate. Consultancy is an industry limited by time and billable hours – I can only be in one place at one time. Furthermore, where is the incentive, past the good hourly rate? Is a consultant just a self-employed manager, rather than a true entrepreneur?

Here is a perspective from an interview with Chris Knight of ezinearticles.com on the subject:

What is the best advice you have for new or future entrepreneurs?

“Do it and stop talking about ‘doing it.” Get into massive action. Learn and read like mad every single day. Listen to your stakeholders and earn their respect by taking an enormous amount of action that proves you heard what they had to say. Create and design a business that allows you to step out of daily operations. If you are running your business, you are a manager and not an entrepreneur. Nothing wrong with being a manager or even an ‘entrepreneurial-spirited manager’, but true entrepreneurs in my mind unlock the creativity and innovation in market potential for their business and industry –they can only do this if they are not involved in daily operations of the business.

For the full article, click here.

The MBA is complete and the parties are over.

The next cohort are probably installing nicely into their new home – looking forward expectantly to the opportunities that a year spent challenging yourself, your perspectives and your life objectives, that doing an MBA can give you.  MBA standing of course for “Massive Brain Accelerator!”

For me it is now about the next project.

Despite the recession, there seem to be plenty of jobs available for the ‘right’ people.   My direction is slightly different and I want to put the broad range of skills and knowledge into practise.   I am therefore working on a number of entrepreneurial projects looking at the electric vehicle ‘market space’ and developing some Internet ideas.

Exciting times ahead.

Best of luck to all the new MBA’s and for my year, I hope you discover what you were looking for to now realise your dreams.

Almost as soon as it begun it is over. The Ent Finance module was one of the best courses that WBS has put on; it throughly deserved its standing ovation at the end.  The professor was visably moved at the recieption and feedback recieved and you could tell the sense of achievement that he felt having moved us all on so far in such a short time.  The course alumni event in London was equally good and a chance to meet with UCLA and WBS former graduates.  In Nick Bates language, this production was simple awesome.

Its another late night and the group are taking a break for some fresh air (read cigarette!)

The learning and volume of work that we have been getting through is great. When we read about the module beforehand, you have no idea of what effort is really involved, and then when you do and you achieve it all, there is immense satisfaction.  

The teaching is infectious and everyone can’t help but be absorbed by this experience.  Not once have I heard anyone moaning about any part; staggering really as this module is making us work harder than any other – it is like a mini MBA all in itself.

To do an MBA and come out without having had this teaching will put those without at a disadvantage; taking a moment to reflect it is quite amazing how far we have all come in such a short time – talking about Balance Sheets, PnL accounts, Cash flows, Senior Debt, Convertiable debentures, Equity, Stock, Puts and Calls etc quite naturally and fluently!

How great!

Its tough …

Awesome lecturer(s), 7am until 1am everyday (so far!), no where to hide in class, clear messages.

Massive learning experience – and I actually feel I have a bit of a flair for this subject!

More to follow…

The long awaited entrepreneurial finance course begins tomorrow.  We have our seating plan and have had a good go at all the pre-reading and case reviews.  The work was hard to fit in around the other commitments but I enjoyed it.

Updates to follow on whether the course is as good as I have been told.

Hope everyone had a great break over Easter.  Summer is on the way and chilli progress is promising …