The 10 Mortal Sins of Marketing
“But enough of me. Let’s talk about you. What do you think of me?” – Ed Koch Here is a short list of the dumbest things a marketer can do. 1. Assuming that your customers are interested in you, your company, or your products. This — neglecting to understand that…
Your Career in Venture Investments
I have invested in 15 companies that later went public. So I am frequently asked how one’s career in venture investment begins. I seldom give the same answer twice. I took such a circuitous route that each time I try to recall my path, I remember a different landmark along…
Objective: You Want to Retire in 10 or 15 Years
“Cessation of work is not accompanied by cessation of expenses.” – Cato the Elder (De Agri Cultura, second century B.C.) In the most recent issue of Strategic Investment, Bill Bonner says, “The average American is 44 years old, has $40,000 in his 401(k), and has more debt than at any…
Ten Traits of Successful People
“Some minds seem almost to create themselves, springing up under every disadvantage and working their solitary but irresistible way through a thousand obstacles.” – Washington Irving (“Roscoe,” The Sketch Book of Geoffrey Crayon, Gent, 1819-20) Investor’s Business Daily, according to Investor’s Business Daily, “has spent years analyzing business leaders and…
The Deviant’s Advantage
“All good things which exist are the fruits of originality.” – John Stuart Mill (On Liberty, 1859) The history of great ideas is a history of boldness and ridicule. The printing press, to take a relatively old example, was condemned as a tool of the devil. The steam engine was…
Building a Good Support System
It’s not easy to be a new manager — especially if, instead of coming up “through the ranks,” you’ve been recruited from the outside. You’re likely to face resistance from all quarters — your new employees, your new supervisor, your new clients, and even your vendors, support staff, and/or consultants.…
Mortgage Rates Dropping Like Rocks
“For all your days prepare, / And meet them all alike: / When you are the anvil, bear — / When you are the hammer, strike.” – Edwin Markham (Preparedness, 1918) Mortgage rates are lower than they’ve been in 35 years. Even if you already have a decent rate —…
In Your Business Dealings, Remember That “Fair” Is Not An Exact Point Where Two Parties Meet But A Range They Can Wander Within
When two people want to do business, both sides must agree to a set of terms within which they can work together fairly. That is easy to accept, but understand that “fairness” is not an exact point but a range of acceptable considerations. If you think of it otherwise —…
How to Invest Locally in Real Estate
“Chance favors the prepared mind.” – Louis Pasteur Gene’s been a full-time real-estate investor for the last nine years. Because of real estate, he has never really had to get a regular job. After graduating from Brown University, Gene went to the University of Florida for a master’s degree.…
Four Levels of Learning To Make You a Better Teacher and Student
“However much thou art read in theory, if thou hast no practice thou art ignorant.” – Sa’di (Gulistan, 1258) There are probably a dozen levels of learning. But these four — broadly defined — may help you discover problems in the way you learn (or teach) things now. 1. Telling…
On Being a Good Business Partner
“He that plants thorns must never expect to gather roses.” – Fables of Bidpai, circa 750) I do business with a lot of very accomplished businesspeople — entrepreneurs and executives who understand how business really works, who are expert in financially valuable skills, and who emphasize sales and marketing as…
Are You Deluding Yourself About Your Chance of Success?
“The most common sort of lie is the one uttered to one’s self.” – Nietzsche (The Antichrist, 1888) A study I saw in USA Today a few months ago said that most people rate themselves as “hard” to “very hard” workers. Yet any reference book of statistics will tell you…