Tips 1001 to 1500 for Innovators and Entrepreneurs
1001) Mistakes are there waiting to be made ... and made they will be. Then what?
1002) HALT stress: make sure we're not Hungry, Angry, Lonely, or Tired ... take care of those four things and be less likely to be stressed. [Thank you, Keith King]
1003) The difficult we can do right now ... the impossible will take a little while! [Thank you, Billie Holliday]
1004) Capital effectiveness and efficiency ... are we doing the right things with our money?
1005) With the internet, we can always find data to support our opinion ... no matter how wrong that data may be!
1006) Do not look where we fell down but where we slipped up.
1007) Just stick with it. [Thank you, Harry Coover]
1008) The only way I can get them to do anything is by giving them what they want. [Thank you, Dale Carnegie]
1009) To start a trend, we have to first give our product away for free. [Thank you, Mark Hughes]
1010) To make enemies, talk ... to make friends, listen.
1011) We are not the customer ... dangerous to think we are!
1012) The right brain creates energy, the left brain consumes it!
1013) Debt: borrowed funds; money, goods or services owed by one person or organization to another.
1014) Difficult and painful times should make us better, not bitter. [Thank you, Barbara Ann Kipfer]
1015) Match form to function.
1016) Ability is what we're capable of doing, motivation determines what we do, attitude determines how well we do it. [Thank you, Lou Holtz]
1017) Keep our daily to-do list short and attainable.
1018) Entrepreneurship is a team sport.
1019) Garbage in, garbage out.
1020) It is better to know than to be ignorant. [Thank you, H L Mencken]
1021) Show the marketing brochure for our new product to as many prospective customers as possible ... can we capture some advanced orders by doing so?
1022) We can be excellent without being perfect.
1023) Do the right thing ... no matter what others may think.
1024) Here's your desk, here's your phone, lots of luck, you're on your own ... (how not to train new salespeople!). [Thank you, Brad Thompson]
1025) Key question for our venture: how can we research our target market? What do we really, really need to know about them?
1026) Our venture is only as strong as our weakest link ... be it skills, passion, luck, or ethics.
1027) Give people more than they normally expect.
1028) Key question for our venture: Who are our future competitors? Are we ready for them?
1029) Make it easy for our customers to give us their feedback and inputs ... if they aren't happy with what we're doing, we need to know and need to know quickly!
1030) The truth makes us free ... lies make us cheap.
1031) Promote our venture with public relations and publicity. What can and should we say? What are we doing that's news-worthy?
1032) Resource or Pre-source ... what should we focus on today?
1033) Innovators and entrepreneurs should be out there innovating and entrepreneuring, not sitting around reading about innovating and entrepreneuring ... they are doers, not stewers ... but they also need to take a break every now and then or their brains will overheat. (Hint: 5Ktips.com is a nice break, read a little or read a lot.)
1034) Use carefully-crafted surveys to gather primary research data. But surveys aren't the first step ... discussions, interviews, and focus groups can can result in fodder for more extensive surveys.
1035) Focus on the key factors that lead customers to buy our products and services.
1036) There is a limit to everything ... but don't stop pushing until we reach it.
1037) Skilled innovators and entrepreneurs are able to concentrate on the task at hand.
1038) We may not hear everything that's true.
1039) Promote our venture with proposals ... propose to our customers and tell them how a marriage to our venture will make their lives so very much better ... (mean it, and deliver!).
1040) Innovators are creative ... it's basic to being innovative.
1041) Ask our hearts what action to take ... in our hearts, we are usually right.
1042) Use the story-boarding technique to solve planning and communication problems. [Thank you, Walt Disney]
1043) Be ready to pivot if needed ... but don't react too quickly to setbacks or our venture may wind up going around in pivot circles.
1044) Network ... get around and make connections.
1045) If they're laughing, they're listening ... if they're listening, they're learning!
1046) Give encouragement, not grief.
1047) Pro Forma: forward-looking or predicting future financial performance.
1048) If we can’t be interesting, at least be brief.
1049) Things are not always what they seem ... sometimes they're better, sometimes they're worse.
1050) ’Tis better to have loved and lost, than never to have loved at all ... better to have "ventured" and failed, than never to "ventured" at all. [Thank you, Alfred Lord Tennyson]
1051) Can we promote our venture with greeting cards?
1052) Have a picnic ... get the team together off-site for a day of fun and games!
1053) Courtesy is contagious ... if we are nice to them, they are more likely to be nice to us.
1054) They are what they are ... if we can't change them, think hard about whether we should join them.
1055) Process: a series of actions or steps taken in order to achieve a particular end.
1056) Quantitative or Qualitative ... what should we focus on today?
1057) Should we promote our venture with walking signs?
1058) Years don’t always add wisdom, but they do add perspective and grey hair ... that's why we need both "grey hairs" and "young pups" on our team ... grey hairs with experience, young pups with energy. [Thank you, Paul Harvey]
1059) Add our new (and hopefully big) twist and quickly blend with tested bits borrowed from anyone and everyone. [Thank you, Tom Peters]
1060) The fear of the change is usually worse than the change itself.
1061) Entrepreneurs do not have a special set of personality traits ... rather they combine their personal strengths together in ways that yield new results. [Thank you, Heidi M Neck]
1062) The best value wins the business.
1063) We can always ask questions ... and we should! (Thank you, Nick Copic)
1064) Get a good attorney ... on second thought, make that a “great attorney”! [Thank you, Larry Hecker]
1065) Dream, explore, ideate, vision, mission, goals, objectives, strategies, tactics, tasks, assignments ... common stages in new venture development.
1066) Fit, form, function, features, feel ... a quick little 5-point checklist for new product or service design and development ... where does it fit, what form is it in, what functions does it perform, what features does it have that make it different from everything else like it, how does it feel?
1067) Creativity is like driving a car at night ... we never see further than our headlights, but we can make the whole trip that way.
1068) Good people can fix a lot of flaws in poor planning, but it’s never the other way around. [Thank you, Roland Schmitt]
1069) Delight our customers ... that'll get 'em talkin'!
1070) Our brand conveys our set of venture values to our customers.
1071) We may call it madness, but I call it love. [Thank you, Don Byas]
1072) Skilled innovators and entrepreneurs are considerate of alternative concepts.
1073) Some problems are not really understood until a they are solved.
1074) Hit a brick wall? Get a ladder and go over it ... or, dig a tunnel beneath.
1075) Ideas die quickly in some minds because they can't stand solitary confinement.
1076) If I had nine hours to cut down a tree, I'd spend the first six sharpening my ax. [Thank you, Abraham Lincoln]
1077) Creative mess is preferable to idle neatness.
1078a) Interest: money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
1078b] Interest: the state of wanting to know or learn about something or someone.
1079) When in doubt, don't.
1080) Can we use YouTube to promote our venture?
1081) Monotony may be the best condition for creativity. [Thank you, Margaret Sackville]
1082) Market: a demand for a particular commodity or service, and the customers that create that demand.
1083) Line up funding commitments in advance ... ideally, we will have enough funding commitments to carry us over until we can reach self-funding stability ...
1084) When we compete against another company, we just have to be better to win ... if we compete with ourselves, there is no limitation on how good we can become. [Thank you, Chin Ning Chu]
1085) Where there is money there is mischief.
1086) Lean: efficient and with no waste, offering little reward or substance, having no superfluous fat.
1087) The most powerful word in the English language is “free” ... “sale” is second.
1088) EXP: common abbreviation for Experimental ... "X" often is used the same way, too.
1089) Nothing is more valuable than a workable idea. [Thank you, Ed Veverka]
1090) Hire for attitude, train for skills. [Thank you, Herb Kelleher]
1091) Make it easy for us <or> Make it easy for them ... which one describes what we should be doing today?
1092) Discovery consists of looking at the same thing as everyone else and thinking something different. [Thank you, Albert Szent-Gyorgyi]
1093) Experimental: a new invention or product based on untested ideas or techniques and not yet established or finalized.
1094) It’s not just who we want to reach, it’s how they can reach us, too! [Thank you, Jack Hardy]
1095) Skilled innovators and entrepreneurs are alert to novelty.
1096) Focus on an industry that is new, growing, and/or expanding significantly.
1097) When we have eliminated the impossible, whatever remains, however improbable, must be the truth. [Thank you, Arthur Conan Doyle]
1098) Take time in turning a corner ... less we take a tumble in time.
1099) Take a hike ... helps clear the mind.
1100) Identify the key questions and actions.
1101) Nothing endures but change. [Thank you, Heraclitus of Ephesus]
1102) Time makes more converts than reason. [Thank you, Thomas Paine]
1103) Turn fixed costs into variable costs whenever we can.
1104) Cultivate a pool of potential investors ... if one drops out, we have some backup. [Thank you, Pamela Morrone]
1105) Develop the habit of creativity ... reinvent everything we see, at least in our heads.
1106) Every venture has a unique past, present, and future.
1107) The trick to getting things done is knowing what to leave undone. [Thank you, Stella Reading]
1108) Finish before it's due.
1109) Fuzzy Front-End: the period between when an opportunity is first considered and when it is judged ready to enter formal development.
1110) Our passion leads to success ... success feeds our passion!
1111) Can we promote our venture with sidewalk signs?
1112) Just the facts, Jack or Jill, just the facts ... likely the opinions are already there.
1113) Sometimes we need a little push to get us back on track.
1114) Read every day ... even if it's a little here and a little there ... 5Ktips.com was designed to be read a little here and a little there, put it down or pick it up whenever you don't of do have time!
1115) A day lost is gone forever.
1116) The door to success is closed until we open it.
1117) A good read: Thinking, Fast and Slow (Daniel Kahneman) ...
1118) Money can make money, but it takes time, too.
1119) Some people who enter our lives change it forever ... for better or for worse.
1120) Sometimes we just need to shut up.
1121) What do we find easy? ... If it's hard for someone else, we've got something of value!
1122) It’s the hard that will make us great.
1123) Innovate: make something new and better or improvements in something by introducing new methods, ideas, products, services, processes, market positions, paradigms, or combinations thereof.
1124) Ready! Fire! Aim! [Thank you, Dick Cheney]
1125) In horse racing, the favorites win about 30% of the time. [Thank you, Bill Finley]
1126) Plan for today's and tomorrow's business. [Thank you, Google]
1127) Cost of Goods Sold: the cost of the components and labor required to produce a product (the Goods).
1128) Know when to hold ‘em, know when to fold ‘em, know when to walk away, know when to run. [Thank you, Kenny Rogers]
1129) Common cause of venture death: inadequate time to become a stable organization ... time and money, can't live with them, can't live without them.
1130) Goal: a long-term aim or desired result.
1131) A roving eye misses opportunities close by. [Thank you, Barbara Ann Kipfer]
1132) Give each customer individualized attention.
1133) Fools rush in where angels fear to tread.
1134) Constant kindness can accomplish much ... as the sun makes ice melt, kindness causes misunderstanding, mistrust, and hostility to evaporate. [Thank you, Albert Schweitzer]
1135) Be different, be better.
1136) Follow our passions.
1137) Front or Back ... what should we focus on today?
1138) Eat food, not too much, mostly plants. [Thank you, Michael Pollan]
1139) Some people who look smart aren't. Others who might not seem to have their lights turned on may turn out to be brilliant. Can't judge a person by appearance, gotta get to know them.
1140) Skilled innovators and entrepreneurs are high achievers.
1141) MVP: abbreviation for Maximum Value Product ... MVP is often capitalized to differentiate it from mvp (minimal viable product).
1142) Key question for our venture: What are the three-year objectives (what we are going to make happen) for our venture?
1143) If we want people to pay attention, make it quantifiable. [Thank you, Jim Ehrlich]
1144) Exactitude is not truth. [Thank you, Henri Matisse]
1145) Motion is not necessarily action.
1146) What are we waiting for? ... Are we sure waiting is worth it?
1147) People make decisions emotionally ... they make decisions based on a feeling, need, or emotion, not necessarily though a logical thought process. [Thank you, Dean Rieck]
1148) Where is our venture going to be located? Is it critical to our success? [One of my companies was located in a low-rent warehouse ... we sold products on the internet so didn't much matter where we were physically located.]
1149) Write down our thoughts as we have them ... capture our ideas, never know when that great one is going to hit!
1150) Are they really a competitor or a potential collaborator? ... maybe we can work with them instead of against them.
1151) Without innovation, don’t bother!
1152) Do not try to fix our venture all at once ... piece by piece, inch by inch.
1153) Successful innovators and entrepreneurs have unbounded determination to succeed.
1154) Capital: money, in particular, funds contributed by investors or lenders to a company for the purpose of funding.
1155) Someone who may be nice to us but is rude to the waiter is not a nice person.
1156) Niche versus broad markets.
1157) Key question for our venture: Is our name pleasant to say?
1158) Reach is the percentage of a company’s target market that is exposed to an ad campaign within a specific period of time. [Thank you, Andrew Corbett]
1159) Business Development: business function focused on creating strategy, strategic partnerships, and long-term relationships with suppliers and customers.
1160) Change costs ... nothing is ever free, is it?
1161) Do a SWOTT Analysis ... Strengths (internal factors): What are the attributes of the organization that are helpful to achieving the objective? How can we use each strength? ... Weaknesses (internal factors): What are the attributes of the organization that are harmful to achieving the objective? How can we eliminate each weakness? ... Opportunities (external factors): What are the external conditions that are helpful to achieving the objective? How can we exploit each opportunity? ... Threats (external factors): What are the external conditions which could do damage to the business's performance? How can we defend against each threat? ... Trends (internal and external factors): What are the current trends that will affect the strengths, weaknesses, opportunities, and threats in the near and long term? What should the organization do to take advantage of the positive trends and avoid the negative?
1162) Sometimes start-up ventures have too much money ... it's a nice problem, yes, but still a problem if we don't know how to use it right.
1163) Turn dreams into reality.
1164) Customers pay our salaries ... they are the most important visitors on our premises ... they are not dependent on us, we are dependent on them ... they are not an interruption in our work, they are the purpose of it ... we are not doing them a favor by serving them, they are doing us a favor by giving us the opportunity to serve them. [Thank you, Mohandas Gandhi]
1165) Many new discoveries are just seeing things that were already there ... but seeing them in a different way.
1166) If we can sell it to us, we can sell it to anyone.
1167) History is only as accurate as the historian.
1168) Encourage active participation from our customers.
1169) It's easy to sit up and take notice ... what's difficult is getting up and taking action! . [Thank you, Al Batt]
1170) Mistakes are lessons of wisdom. [Thank you, Hugh White]
1171) Focus on a particular demographic niche.
1172) Feature: a distinctive attribute or aspect of something.
1173) Take responsibility ... good, bad, or ugly.
1174) We'll know we've really made it when our brand becomes a verb ... like Google or Xerox!
1175) Good products are desirable, feasible, and viable. [Thank you, IDEO]
1176) Do what we can't. [Thank you, Casey Neistat]
1177) Balance sheet formula: Assets - Liabilities - Shareholder Equity = 0. [Thank you, Chip Ruscher]
1178) Early Adopter: individuals or organizations that enthusiastically embrace (try and buy) new technologies or tech-based products before the vast majority of potential buyers consider it.
1179) The results of a recipe depend on the quality of the ingredients and the skills of the cook.
1180) We can make more friends in two months by becoming really interested in other people than we can in two years by trying to get other people interested in us ... which is just another way of saying that the way to make a friend is to be one. . [Thank you, Dale Carnegie]
1181) An early-stage company should have 5 board members: CEO, CFO, two members from the lead investors, and an independent outsider. [Thank you, Andrew Zacharakis]
1182) Progress: moving forward toward a goal.
1183) The past cannot be changed.
1184) Think about how we can help others.
1185) Fortune: luck, especially good luck; a large amount of money ... yes, luck and money go together.
1186) How to kill creativity, just say: "That's crazy ..."
1187) Fresh eggs sink in cool saltwater, old eggs don't ... new ventures often may sink, old ones usually don't.
1188) The more we know, the more we know we ought to know.
1189) Hang loose ... surf on ... catch a big wave!
1190) Promote our venture with local newspapers.
1191) Opportunity: A business or technology gap, that a venture or individual realizes, that exists between the current situation and an envisioned future in order to capture competitive advantage, respond to a threat, solve a problem, or ameliorate a difficulty. [Thank you, P Puri]
1192) Key question for our venture: What are the factors that limit our growth?
1193) A good business plan is the "right length" ... not too long, not too short ... to convey all the pertinent information. [Thank you, Patty Sias]
1194) Stand out ... but not in the rain!
1195) In programming, the first 90% of the code accounts for the first 90% of the development time ... the remaining 10% of the code accounts for the other 90% of the development time!
1196) We simply hate, detest, loathe, despise, and abhor redundancy and duplication and repetition. [Thank you, Department of Redundancy Department]
1197) Don't gossip ... it's a waste of time and energy and ethics.
1198) Customer discovery, customer validation, iteration/pivot, customer creation, company building ... the stages in building a new venture, product, service, or process.
1199) Let’s be a class act ... not a class acting classy.
1200) Skilled innovators and entrepreneurs are emotionally expressive.
1201) We need to take responsibility for our goals and objectives ... they don't happen by magic.
1202) A good business plan supports credible growth projections. [Thank you, Charlie HIggins]
1203) Go whole hog when we're makin' bacon!
1204) Instruct rather than order.
1205) Put words together that don't usually go together ... way back when, someone put "personal" and "computer" together ... a very avant-garde thought at the time.
1206) The competition is a very good teacher, not necessarily a kind teacher, but good.
1207) Successful entrepreneurs are comfortable with uncertainty. [Thank you, Timothy Butler]
1208) Without action, we aren't going anywhere. [Thank you, Mahatma Gandhi]
1209) TV networks are built on the assumption that audience size is what matters most ... content is secondary; it exists to attract passive viewers who will sit still for advertisements ... traditional market-driven media always attempts to treat devices, audiences, and content as bulk commodities ... as users acquire the means to produce and distribute content, the authority and profit potential of large traditional networks are directly challenged. . [Thank you, John Hockenberry]
1210) Entrepreneurs understand there is little difference between obstacles and opportunities ... they turn both into their advantage.
1211) Seize good luck ... it doesn't happen often enough.
1212) A watched pot never boils.
1213) The more things change, the more they are the same. [Thank you, Alphonse Karr]
1214) All investors are not the same ... pick and choose carefully whose money you want to use.
1215) It could be a good opportunity if our team has a clear plan for success.
1216) Entrepreneurial Myth: Starting a business is easy ... well, actually, starting a new company isn't so hard ... it's making money at it that is tough. [Thank you, Scott Shane]
1217) Small things have been made big with advertising.
1218) Take a deep breath ... now exhale. Doesn't that feel better?
1219) Respect yourself ... this is not negotiable.
1220) There are few things as uncommon as common sense. [Thank you, Frank Hubbard]
1221) Innovating is competitive creativity. [Just for kicks, take a look at CompetitiveCreativity.com]
1222) The best way to get in front of any investor is to have someone they know introduce us. [Thank you, Rhonda Abrams]
1223) Let's leave our mark when we have it in our power.
1224) Keep a daily diary ... it's a good way to learn from experience, writing down all the good, the bad, and the ugly.
1225) Nobody knows what is the best they can do. [Thank you, Arturo Toscanini]
1226) Potential venture legal issue: Promising more in the business plan than can be delivered and failing to comply with state and federal securities laws. [Thank you, Connie Bagley]
1227) Do not evenly divide shares between founders ... it should be equitable and that's not usually even. [Thank you, William Bygrave]
1228) Keep our feet on the ground but keep reaching for the stars. [Thank you, Casey Kasem]
1229) See what's not there ... that how we see the future.
1230) Web site for census data: www.census.gov. [Thank you, US Census Bureau]
1231) In science, progress is measured by moving the frontier of knowledge away from the core ... in engineering, progress is measured by moving the practice closer to a commercially-interesting embodiment. [Thank you, Will Allen]
1232) All entrepreneurs are not created the same ... some think this way, some that way.
1233) No one is listening until we make a mistake ... maybe we should have a song all ready to sing for the occasion?
1234) Problems can become opportunities when the right people come together. [Thank you, Robert Redford]
1235) There is a fine line between a numerator and a denominator!
1236) We can't manage what we can't measure ... what metrics are key to the success of our venture?
1237) Develop our own rituals.
1238) Key question for our venture: Do we have the capabilities and resources to compete in these market five to ten years from now?
1239) Obsolete ourselves or the competition will. [Thank you, John Micklethwaite]
1240) Focus on a particular geographic niche ... once we're big in Racine, we can expand to Milwaukee.
1241) Where there is money, there are monkeys, and where there are monkeys, there is monkey business.
1242) Do what we promised to do, and then some.
1243) A business model is a conceptual framework that shows how a venture creates, delivers, and extracts value. [Thank you, Webb Smith]
1244) Skilled innovators and entrepreneurs are flexible.
1245) Successful entrepreneurs have an ability to sell. [Thank you, Timothy Butler]
1246) Staying creative is one of the hardest things we must do, or die.
1247) We can never go back ... time travel back is (so far) impossible, so saith Albert Einstein ... so let's move ahead, Fred!
1248) Whenever we are true to ourselves, we will be true to others.
1249) Skilled innovators and entrepreneurs are able to make independent judgments.
1250) Someone else's recipe may not work for us. [Thank you, Nelson Wang]
1251) Figure out our why.
1252) If we want something changed, it's up to us to change it.
1253) When writing our business plan, avoid overly optimistic time frames ... ask around or do research on the internet ... if it takes most companies 6-12 months to get up and running, that is what it will likely take ours ... if we think it will take 3 months to develop our prototype, double it ... we will face delays we don't know about yet--ones we can't control. [Thank you, Kaye Vivian]
1254) Don't be afraid to ask for what we need from investors ... be honest, be fair, be right, apply their money wisely.
1255) Participate, join in, make things happen.
1256) To kill creativity, just say: "We don't take any risks around here ..."
1257) A good business plan has the right appearance ... not too fancy, not too plain; arranged properly with the executive summary, table of contents, and chapters in right order. [Thank you, Conspiracy Cosmetics]
1258) Benchmark other companies ... they can help us learn a lot about our business without having to make quite so many mistakes. How do they do it, and why?
1259) It could be a good opportunity if we have a feasible solution.
1260) Anticipate objections.
1261) Key question for our venture: What are our respective market shares, the competition and us?
1262) Overwhelming customers with personal, unexpected service is the best way to keep them for life. [Thank you, Seth Godin]
1263) Business Model: a design for the successful operation of a business, identifying revenue sources, customer base, products and services, operational processes, and details of financing. [Thank you, Yves Pigneur]
1264) Innovators and entrepreneurs are like detectives out to solve the mystery of the golden opportunity.
1265) Education is a great equalizer.
1266) Types of capital: debt and equity and grants and gifts and revenue.
1267) Smell the flowers, listen to the birds ... enjoy life's little pleasures!
1268) Leadership consists of nothing but taking responsibility for everything that goes wrong and giving our colleagues credit for everything that goes well. [Thank you, Dwight D Eisenhower]
1269) Setting a proper “Use of Funds” strategy is a balance between asking for enough money to enable the company to achieve some meaningful milestones and preserving the founder’s dilution ... for the first seed round of funding, don't sell more than 15-20% of the company ...
1270) Entrepreneurial Myth: It takes a lot of money to finance a new business ... it depends on the type of venture ... that's one of the key reasons to do a good job planning the new venture ... to figure out in advance how much money it will take until the venture is stable (self-funding). [Thank you, Scott Shane]
1271) If we get off track, get back on as fast as we can before another train passes us by.
1272) One must have sunshine, freedom, and a little flower. [Thank you, Hans Christian Andersen]
1273) Use secondary data that was gathered using objective, neutral processes.
1274) Great oaks grow from little acorns.
1275) Skilled innovators and entrepreneurs are independent in outlook.
1276) There are no great limits to growth because there are no limits of human intelligence, imagination, and wonder. [Thank you, Ronald Reagan]
1277) Do more with less ... waste not, want not.
1278) Tell them how very much they are appreciated, and mean it.
1279) Taxes: a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.
1280) Better to wear out than rust out. [Thank you, Richard Cumberland]
1281) Market Research: the action or activity of gathering information about current and prospective customer needs and preferences. [Thank you, Google Dictionary]
1282) Shoot for the moon ... even if we miss, we'll be among the stars.
1283) Absence makes the heart grow fonder. [Thank you, McDonald's, thank you very much for taking away the McRib ... yes, I am being sarcastic, McRib lover that I am.]
1284) Don't sweat the petty stuff ... and don't pet the sweaty stuff! [Thank you, George Carlin]
1285) Communications: the imparting or exchanging of information.
1286) Change things ... before they change us.
1287) Key questions for our venture: What is the typical sales cycle between our initial customer contact and the closing of a sale? How can we streamline this process and shorten the time?
1288) Benefit: an advantage or profit gained from something.
1289) Every venture has its ups and downs.
1290) Memorize something new each day ... could be song lyrics or the list of Islay distilleries (Ardbeg, Bowmore, Bruichladdich, Bunnahabhain, Coal Ila, Lagavulin, Laphroaig,Kilchoman, and Port Charlotte) ... never can tell when it'll come in handy!
1291) Elevator Pitch: a succinct and persuasive sales pitch that can be delivered in about the time it takes an elevator to go up to the top floor.
1292) Good manners and soft words have brought many a difficult thing to pass. [Thank you, John Vanbrugh]
1293) Make it easy for trade show booth visitors to get information. [Thank you, Susan Ward]
1294) Can we promote our venture with direct mail and sales letters ?
1295) Direct and Indirect ... What are two types of Price?
1296) Exercise: List 10 things our competitors do better than us ... use the list to improve what we do.
1297) Corporate entrepreneur credo: Develop a spirited team; choose and work with only the best. [Thank you, Gifford Pinchot III]
1298) Travel ... it gives us new perspectives.
1299) Profit in business comes from repeat customers, customers that boast about our products and services and processes, and that bring their friends with them. [Thank you, W Edwards Deming]
1300) Our brand is our most important competitive advantage and most valuable asset ... don't screw it up!
1301) Limited Liability Company (LLC): a legal form of company that has many of the tax advantages of partnerships, notably the characteristic of being a pass-through entity for tax purposes.
1302) Promote our venture with price specials. The most powerful word in the English language is "free" with "sale" a close second.
1303) Sustainable: be able to maintain something at a certain rate or level.
1304) Build a psychographic profile of our target customers ... needs, wants, desires, purchasing patterns, decision-making processes.
1305) When the chips are down, the buffalo is empty. [Thank you, Buffalo Bill]
1306) Creativity is a muscle that needs to be exercised regularly or it turns to mush.
1307) Successful teams are mutually supportive of each other, in thick and in thin.
1308) Align long-term vision with short-term execution. [Thank you, Walt Disney]
1309) A source of opportunity for innovation are changes in perception, mood, and meaning. [Thank you, Peter F Drucker]
1310) Control our costs ... or they will control us!
1311) Good design can’t fix a broken business model. [Thank you, Jeffrey Veen]
1312) Good competitive research is critical to our success.
1313) Well begun is half done. [Thank you, Horace]
1314) Keep a camera close at hand to capture ideas, competitive products, customer problems, and other visual information.
1315) Beware of speed bumps and potholes.
1316) No shit ... further, no bullshit ... it all stinks.
1317) Up or Down ... what should we focus on today?
1318) To see things in the seed, that is genius. [Thank you, Lao-Tzu]
1319) The devil’s in the doing ... hopefully we can stand the heat of hell in our quest for the warmth of heaven.
1320) Everyone gets twenty-four hours in a day ... it's all in how we use it.
1321) There are four types of innovation: product, process, position, and paradigm. [Thank you, Matt Mars]
1322) There are lots of big fat liars out there!
1323) How to kill creativity, just say: "If it ain't broke, don't fix it..."
1324) Potential opportunities have perceived desirability. [Thank you, IDEO]
1325) Understand the value of things.
1326) Long-tail: refers to the large number of products that sell in small quantities, as contrasted with the small number of best-selling products
1327) We can't have a light without a dark to stick it in. [Thank you, Arlo Guthrie]
1328) Promote our venture with fliers and circulars.
1329) Overcome hard luck with hard work. [Thank you, Harry Golden]
1330) An inventor creates a product, an entrepreneur creates a business.
1331) Promote our venture with demonstrations? Will that work?
1332) Telling the truth is always desirable, but sometimes not advisable. [Thank you, Agatha Christie]
1333) If we think money is limiting, time is more so!
1334) Choose the right co-founders.
1335) Entrepreneurs are often good at mathematics.
1336) You can never plan the future by the past alone ... but it's not a bad place to start.
1337) If it ain't broke, break it ... then put it back together even better than before!
1338) Uphill or Downhill ... what should we focus on today?
1339) Ask "why?" ... if that doesn't work, ask "Why not?"
1340) Keep our sense of wonder ...
1341) Let go ... mistakes happen, life isn't perfect ...
1342) Maker: a person or thing that makes or produces something.
1343) We all have our own superpowers ...
1344) Transactional Analysis: an interchange between parental (critical and nurturing), adult (rational), and childlike (intuitive and dependent) aspects of personality. [Thank you, Eric Berne]
1345) Muddy the waters to make them seem deep. [Thank you, Friedrich Nietzsche]
1346) Chance: the possibility of something happening.
1347) The future is never certain.
1348) Think and our minds will stay fresh.
1349) 80% of the business comes from 20% of the customers ... a common generalization ... maybe 80/20 is not quite the right ratio ... still, worth taking a look at who are our top customers and how valuable the are to our venture.
1350) People’s minds are changed through observation, not through argument. [Thank you, Will Rogers]
1351) Park ourselves in the middle of the road and we'll get run over from both directions.
1352) It all starts with a fuzzy front-end. [Thank you, Ken Smith]
1353) Many ventures today consist of just a CEO with a cell phone ... everything else is outsourced! . [Thank you, Tom Peters]
1354) Gravity or Energy ... what should we focus on today?
1355) We can fiddle with the pravda all we want ... but we can't change the istina. [Thank you, Andrew Rosenthal]
1356) The best burglar alarm is a dog ... do think outside the doghouse when developing new products and services!
1357) A little nonsense now and then is relished by the wisest ... gotta get goofy sometimes. [Thank you, Roald Dahl]
1358) Push or Pull ... what should we focus on today?
1359) Key question for our venture: What do we need to know about our target market?
1360) Everyday when we wake up, ask ourselves: what are we really trying to do?
1361) Companies are easy to start, businesses are not.
1362) Skilled innovators and entrepreneurs are word fluent.
1363) Technology Transfer: the transfer of new technology from the originator to a secondary user.
1364) Success is a lousy teacher ... it seduces smart people into thinking they can't lose. [Thank you, Bill Gates]
1365) The world is a canvas to the imagination. [Thank you, Henry David Thoreau]
1366) Promote our venture with general business magazines.
1367) Only do business with people you trust.
1368) Do the very best we know how, the very best we can, and keep doing so until the end. [Thank you, Abraham Lincoln]
1369) Knowledge is a process of piling up facts ... wisdom lies in their simplification. [Thank you, Martin H Fischer]
1370) There is no status quo ... we are either getting better or worse. [Thank you, Pat Riley]
1371) Want to succeed ... where there's a want there's a way.
1372) Asset: a useful or valuable thing, person, or quality.
1373) Be prepared. [Thank you, Boy Scouts]
1374) Compensation: the pay and other incentives an organization provides to an employee in exchange for his/her services.
1375) How to attract new customers: highlight positive reviews and recommendations.
1376) T or F?: The biggest hurdle to success is me, myself, and I.
1377) Don't put off until tomorrow what we can do today ... if it needs doing, do it.
1378) Encourage people to build on the thoughts of others ... think "why not!" rather than "here's why not!". [Thank you, Todd Adams]
1379) Praise accomplishments.
1380) Focus on our beachhead market and solution first.
1381) Strange signals from the sky may be signs of aliens ... potential new markets for our venture?. [Thank you, Economist]
1382) Mountain or molehill ... don't mix them up!
1383) It takes genius, faith, and perseverance to create a brand. [Thank you, David Ogilvy]
1384) Tomorrow will be different than today ... for better, or for worse ... we're married to each and every day.
1385) Brainstorming does not mean narrowing down to the best idea.
1386) Adapt ... there are no other viable options!
1387) Common Stock: equity or stock ownership of a company representing owners who have the lowest-priority.
1388) Don't do it alone ... the first one to come along with a partner is going to beat the snot outta us!
1389) Promote our venture with high profile publications.
1390) Nine Fs for entrepreneurial success: founders, focus, fast, flexible, forever innovating, flat, frugal, friendly, and fun. [Thank you, Andrew Corbett]
1391) Don't take any wooden nickels ... they're only good in one bar.
1392) Chasm: differences between the characteristics of and the ways a business markets to initial customers versus the bulk of the business’s potential customers.
1393) Sit or Stand ... what should we focus on today?
1394) Rule: principles governing conduct.
1395) A tried and true tradition can prevent a little sedition!
1396) Procrastination is the thief of time.
1397) Ideas are like children ... our own are always wonderful, the others are little brats! [Thank you, Michael Harris]
1398) Why us? Why now? ... Why are we the team to make this venture happen? Why is now the time to do this venture?
1399) Make the commitment to make this venture a success.
1400) What makes you unafraid of failure? [Thank you, Frederic Premji]
1401) If we don't know where we are going, we will probably end up somewhere else. [Thank you, Casey Stengel]
1402) How to kill creativity, just say: "That's not how we do things around here ..."
1403) Maintain a work environment that is challenging, rewarding, and fun.
1404) Know our strengths and weaknesses ... build on the strengths, mitigate the weaknesses.
1405) Be consistent and persistent in our vision.
1406) Key question for our venture: What future equity or debt financing will be necessary?.
1407) People usually do like to learn ... but they don't often like to be taught. [Thank you, Winston Churchill]
1408) If we wouldn't want to see it on the front page of the morning newspaper, don't put it in an email. [Thank you, Erika Morphy]
1409) We won't know all the answers to all the questions, but we don't have to ... if we have the right answers to the right questions.
1410) Simplicity is powerful. [Thank you, Google]
1411) Mobilize our creative resources and put them to work.
1412) The Balanced Scorecard describes the theory of our strategy ... if we do A, B will happen ... we should always ask the question, if I am doing A, is B happening?. [Thank you, David Norton]
1413) If you have an apple and I have an apple and we exchange these apples, then you and I will still each have one apple ... but if you have an idea and I have an idea and we exchange these ideas, then each of us will have two ideas. [Thank you, G B Shaw]
1414) Have a good memory for details. [Thank you, Steve Harsy]
1415) Compare, Contrast, Classify, Dissect, Analyze, Categorize, Take Apart, Sequence, Group
1416) Concise: brief but comprehensive.
1417) How to retain customers: loyalty and rewards programs.
1418) Key question for our venture: What are the major benefits of our industry?
1419) Knowledge grows like a tree: slowly and on fertile ground. [Thank you, Barbara Ann Kipfer]
1420) Intuitive or Formulaic ... what should we focus on today?
1421) Key question for our venture: How can we define our marketing plan?
1422) Sometimes we have to say "no" ... let's make sure it's for the right reasons.
1423) Key question for our venture: How are we better than them?
1424) We can learn a lot by looking. [Thank you, Yogi Berra]
1425) Illusions can be more gratifying than reality ... like the billboard picture of the hamburger compared to what we really get.
1426) Invest in ourselves. Bank on us.
1427) Hard-boiled eggs will spin, raw eggs will wobble ... that's kind of like ventures: the good ones have a spin, the not-so-good-ones wobble around.
1428) Put one dumb foot in front of the other and course-correct as we go. [Thank you, Barry Diller]
1429) The illiterate are not just those who cannot read and write, but those who cannot learn, unlearn, and relearn. [Thank you, Alvin Toffler]
1430) A web site does not equal an internet marketing strategy. [Thank you, Ian Lurie]
1431) Walk the customer walk, talk the customer talk ... what do we see? ... what do we hear?
1432) When things go wrong, it’s time to shine ... go out of our way to make it right by our customers. Often, it will become a more memorable positive experience.
1433) Changes will come ... but other changes will come after, wiping out each layer of change, like waves on a beach erasing the ripples in sand cast upon it by the previous wave. [Thank you, John C Wright]
1434) We get what we pay for ... do our customers get what they pay for?
1435) Time cures all, almost, usually.
1436) Not all science is real.
1437) A person might be able to play without being creative, but sure can't be creative without playing. [Thank you, Stacy Perryman]
1438) Go where the prospects are and the prospectors aren’t.
1439) How can we answer this question: How will our venture create and deliver value for our customers?
1440) Key question for our venture: What more should we do?
1441) Whatever people think, is. [Thank you, Otis Singletary]
1442) No pain, no gain. [Thank you, Benjamin Franklin]
1443) Suppose we promote our venture with bus bench/shelter signs?
1444) Life cycle of a venture, a product, a service: 1] introduction, 2] growth, 3] maturity, 4] decline
1445) Nothing comes easy ... Nothing is given to us. Whatever we do, we've got to work for it and earn it. Whatever reward we get we've got to know that we've had our input into that success. There's no substitute for hard work. And if we want to be well known or well liked, we have to put ourselves out for people. [Thank you, Jack Charlton]
1446) Skilled innovators and entrepreneurs are good leaders.
1447) If we look confident, we can pull off anything ... even if we have no clue what we're doing. [Thank you, Jessica Alba]
1448) Drink at least eight glasses of water a day. You could try substituting wine some time and will shoomw swart to splur yerr werdies.
1449) Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow ... flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency. [Thank you, Ben Bernanke]
1450) Yes, we can! So, let's get up and go! [Thank you, Barack Obama]
1451) Make a marketing brochure for our new product idea ... show it to prospective customers ... if they want to order one on the spot, we're on the right track!
1452) Keep facing change. Look it in the eye. Don't blink.
1453) If the customer thinks she’s right, she’s right. [Thank you, Tom Peters]
1454) Michigan or Ohio State ... what should we focus on today?
1455) Adversity is like taxes and death ... it happens to us all.
1456) Do it now. No? Why not? Perish procrastination!
1457) We are all part of a larger world.
1458) Exercise: List 10 well-established organizations that could have a vested interest in the success of our venture ...
1459) Bureaucracy always wins over creativity and innovation.
1460) Common cause of venture death: lack of time. Remember, time is irreplaceable.
1461) When writing, strike out words that aren't needed.
1462) Our message is complete when all relevant information is included in an understandable manner ... and there is a clear "call to action".
1463) Successful Innovators and entrepreneurs know are honest with themselves and others. [Thank you, Patricia G Greene]
1464) SEO: abbreviation for Search Engine Optimization.
1465) Skilled innovators and entrepreneurs have supra-rational creative abilities.
1466) Beware: disclosing proprietary and trade secret information to less-than-reputable people even if they've signed a non-disclosure agreement.
1467) We may know their name but not their story.
1468) Individuals are creative, not corporations. [Thank you, John Goulding]
1469) Many angel investors are actually informal investors ... not high-profile sophisticated investors who mandate fancy presentations, well-coiffed business plans, and attractive 10X+ returns.
1470) Capital Structure: how a company is financed.
1471) Innovation never happens as planned. [Thank you, Gifford Pinchot]
1472) Lost time is never found again. [Thank you, Benjamin Franklin]
1473) Common Mistake: underestimating costs ... common, common mistake.
1474) The more we say, the less people remember. [Thank you, François Fénelon]
1475) Don't tell a "big lie". [Thank you, Elizabeth Holmes]
1476) Business plan competitions: Beware, the "prize money" may have strong strings.
1477) Put easy-to-understand information first, complicated material second. [Thank you, Randy Accetta]
1478) Eat well-balanced meals.
1479) Getting to know anyone takes time.
1480) Innovation is the primary driver of everything that goes on in business.
1481) Customer needs, wants, and desires change ... and often change often, often sporadically, often randomly, and often when it's least convenient for us!
1482) 80% of the value we receive comes from 20% of our activities.
1483) Minister quickly ... forgive forgivable sins and move on.
1484) Want nothing, waist nothing ... (a good way to stay slim and trim!)
1485) Key question for our venture: Does the new name we're thinking about coordinate with other names used in our venture?
1486) With the power of thought comes the ability to think.
1487) Time becomes more precious the less we have.
1488) Obstacles make the goal clearer.
1489) Entrepreneurship is a process that must be practiced in order for us to become better and better ... the more we practice, the better we become. [Thank you, Heidi M Neck]
1490) Common sources of new venture funding: founders, family and friends, fanatical customers, "angel" investors, venture capitalists, banks, government agencies, small business investment companies, commercial finance companies, crowdfunding.
1491) F-Funding: new venture funding that comes from the founders, family, friends, fanatics, and fools.
1492) Just imagine that ... we can, you know, just imagine that.
1493) Don't edit the quality of an idea when we first think of it ... capture the thought, let it rest, come back later and give it a test ...
1494) Observation and insight.
1495) Real eyes realize real lies.
1496) A leader is a facilitator, not an order giver. [Thank you, John Naisbitt]
1497) Key question for our venture: How big is our market opportunity?
1498) Creativity varies inversely with the number of cooks in the kitchen and fingers in the pot.
1499) Tell me, I forget; show me, I remember.
1500) The most successful entrepreneurs don't chase after money ... they find their passion and follow it and let the money come to them.
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