I get a lot of emails from first time entrepreneurs looking to start a company. Almost every email I get sounds something like this. “I am thinking of starting a business doing X. I am really passionate about X, I want to take control of my life and be my own boss. I am looking to raise capital and I was wondering where to start.”
My Simple Advice
If you are so passionate about X stop talking and start doing. Commit your own dollars to getting your business concept off the ground and bootstrap it for as long as you can. Few investors will put money in to a company without some significant financial and/or resource commitment from the entrepreneur.
You will be hard pressed to raise capital these days without at least one of the following:
1. A proven track record as an entrepreneur.
2. A functioning business with a business model that investors can help scale with cash.
3. Some rock solid intellectual property.
Can you start your own business? Hell yeah you can! Can you raise money? You bet! But don’t expect any investor to put up money until you have some skin in the game. If you are successful in raising capital remember that business is like marriage and you have make a commitment to your backers. The notion of “I want to take control of my life and be my own boss” is all wrong. The business is the boss, at least until it gets to scale and profitability.
I have been overwhelmed by the support for earthquake victims in Haiti. The country has been torn apart by the disaster, but the world is coming to their aid. From concerts and telethons to text messages and twitter campaigns these past few weeks have been a testament to our global humanity. I am especially proud of America, no matter where tragedy strikes our government, companies and citizens provide relief like no other.
Despite all the videos, signs and screaming TSA employees there is apparently still some confusion about procedures at the security check point. For those of you who have difficulty I have compiled my own guide to getting through security quickly and not annoying your fellow passengers.
Much like sharp objects, you are prohibited from carrying on weapons along with martial arts and self defense items. These include guns, grenades, billy clubs, black jacks, brass knuckles, kubatons, mace, nunchakus, stun guns and throwing stars. If it could kill someone it is best to leave it at home.
I have talked about personal branding quite a bit in the past. I believe that it will be an area of growing importance in the future as the global economy becomes more competitive. A strong personal brand can make the difference between landing a job, winning a client or even finding a mate. Most of us start with a disadvantage… our own name. Do you know how many Ted Murphys there are in the world? It is much more difficult to build a brand around a name when other people have the same name. That is why corporations trademark and protect their name and celebrities adopt new names they can uniquely call their own.
