Tips 501 to 1000 for Innovators and Entrepreneurs
501) Be patient with all.
502) Be positively unique as a manager ... positively, not negatively!
503) The more choices the more difficult the choice ... let's make sure we don't overwhelm our customers with too many options.
504) Actively solicit ideas from the outside.
505) Many successful business ventures started over lunch and a sketch on the back of a napkin.
506) There is no such thing as an unimportant day. [Thank you, Alexander Woollcott]
507) Successful teams are open to new ideas.
508) The innovation process may be divided into three areas: the fuzzy front end, new product development, and commercialization. [Thank you, P A Koen]
509) Celebrate ... big things, little things ... keep our positive attitude!
510) One is not enough ... build a range of products, services, customers, suppliers, partners.
511) Learn from children: The teacher, looking over a little child's shoulder, asks, "What are you drawing?" The child responds, "I'm drawing a picture of God." The teacher says, "But nobody knows what God looks like." The child replies, "They will in a minute." [Thank you, Ken Robinson]
512) Making a great presentation: Avoid miscellaneous visuals. [Thank you, Ian McKenzie]
513) Be a lifter, not a leaner.
514) The value is in the hard ... easy anyone can do.
515) Stop, think, thank.
516) Exit Plan: a means of leaving a current situation after a predetermined objective has been achieved.
517) A good business plan identifies all the alternatives available to prospective customers. [Thank you, SHAW Wearables]
518) Identify clearly who in our venture is responsible for meeting our short-term sales objectives. They're putting meat on the table.
519) Facts may be colored by the personalities of the people who present them. [Thank you, Reginald Rose]
520) Successful teams share learning.
521) Push - pull marketing ... push to our distribution and sales channels, pull from our users and customers.
522) When opportunity knocks, open the door ... sometimes the knock is not very loud.
523) Successful teams reach most decisions reached by consensus.
524) If we would have new knowledge, we must get us some new questions. [Thank you, Susanne Langer]
525) Common bootstrapping strategy: don't hire anyone until they are really, really, really needed. Really.
526) Tag along on their coattails.
527) Business is like a dog-sled team ... if we ain't the lead dog, the scenery never changes. [Thank you, Lewis Grizzard]
528) Call people by name ... people love to hear their name spoken aloud, in reverence and honor, because someone else thinks they are worthwhile ... do not tread on their body or soul.
529) Stay in the loop ... keep in the know. [Thank you, LOOP Venture Team]
530) Hire the best, fire the worst!
531) Successful teams are calculated risk-takers.
532) As long as people will accept crap, it will be financially profitable to dispense it. [Thank you, Dick Cavett]
533) Allocate resources where they will do the most good.
534) Inspiration: the process of being mentally stimulated to be creative.
535) Red ocean, blue bay ... let's try to stay away from the bloody shark-frenzy fighting for customers and instead swim in the nice, warm, clear waters where our customers can readily see us.
536) Algorithm: a process or set of rules to be followed in calculations or other problem-solving operations. Can we develop clear repeatable algorithms for certain aspects of our venture?
537) Hitch our wagon to a star ... how can we benefit from the trends and flow that's already out there?. [Thank you, Ralph Waldo Emerson]
538) The most important aspect of writing the business plan is the learning that goes on as we identify and research the concept, the industry, the competitors, and customers. [Thank you, William Bygrave,]
539) We'll always have a boss: our customers.
540) Some solutions are better than others. Let's do our best to assure the better ones are ours.
541) Venture Development Phases: Desire, Discover, Define, Design, Deploy, Develop.
542) Don't let a winning business turn into a losing one. We've got to keep paying attention!
543) Skilled innovators and entrepreneurs are able to use existing knowledge as base for new ideas.
544) Ignorance can be fixed ... stupid is forever! [Thank you, Don Wood]
545) A new venture may be feasible if there are both short-term and long-term market potentials.
546) Key question for our venture: Do our customers know what we want them to do? ... Do we show them how to do it? ... (Sometimes in some companies it's not so easy to place an order!)
547) Key question for our venture: What kind of culture do we want in our venture? ... What do we need to do to make that happen?
548) Do not be afraid of making mistakes, or afraid of correcting them when we make them.
549) The truth is more important than the facts. [Thank you, Frank Lloyd Wright]
550) Watch out for gaps and holes and speed bumps and roadblocks. Try to avoid them as best we can and not run anyone over as we weave from left to right to left to right.
551) A venture operations manual can help identify problems before they arise, minimizing "crisis management".
552) A nap a day keeps the doctor away (especially if we snore really loud) ... a little snooze every now and then can be a good thing (but usually not in the middle of a company meeting!
553) Key question for our venture: are we putting up artificial roadblocks? ... let's make life as easy as possible for our customers.
554) The brightest sunshine produces the darkest shadows.
555) Divide and conquer. [Thank you, Julius Caesar]
556) Serendipity and fortuitous circumstances are bonuses in life ... hop on them when they happen!
557) Like our life, our venture is what we make it to be.
558) Use conservative financial figures. Be realistic.
559) Where there is love and inspiration, we can't go wrong. [Thank you, Ella Fitzgerald via Joe Driear]
560) Jump around! [Thank you, Fellow Badgers]
561) Impossible or Improbable ... what should we focus on today?
562) Skilled innovators and entrepreneurs listen and hear and understand. If they don't get it the first time, they'll come back again and ask again.
563) Common bootstrapping strategy: reimburse advisors and consultants with equity and good will ... and a very hearty "thank you!"
564) Sharpen our skills, hone our strengths.
565) Experimentation is key to innovation because they seldom turn out as expected but we can learn so much in the process. [Thank you, Jeff Bezos]
566) Iteration: a new version with carefully implemented improvements from a previous version.
567) Describe the major suppliers to ventures in our industry ... how strong is supplier power?
568) A good business plan addresses how the venture will develop and sustain a proprietary position. [Thank you, Leonard Brown]
569) Dreams are the sparks of passion. [Thank you, Daniel Chabot]
570) Give it some time ... something great is never created quickly.
571) Just because everything's different doesn't mean anything has changed. [Thank you, Irene Peter]
572) The future comes one day at a time. [Thank you, Dean Acheson]
573) A disease known is half cured ... if we understand our customer's problems, we're on our way to solving them.
574) Gross Margin: total sales revenue minus cost of goods sold (COGS), divided by total sales revenue, expressed as a percentage.
575) Should we promote our venture with signs on our building? What should they say?
576) A committee should consist of no more than three people, two of whom are absent. [Thank you, Robert Copeland]
577) Be persistent in our mission ... don't give up when the going gets tough, and it will.
578) Enclose our business card or mini-brochure with every letter and note and bill we send.
579) Knowledge will give us power, but character respect. [Thank you, Bruce Lee]
580) Quality is not an act, it’s a habit. [Thank you, Aristotle]
581) Survive or thrive ... what should we focus on today? The one we pick will point us in the direction we'll need to go with our venture.
582) Business Model Canvas: a popular visual tool for developing new business models or documenting existing ones. [Thank you, Yves Pigneur]
583) Success is 1 percent inspiration and 99 percent perspiration. [Thank you, Thomas A Edison]
584) Can we promote our venture with television spots?
585) Make new friends but keep the old ones, too.
586) Keep our ears wide open.
587) Key question for our venture: What are our key strengths?
588) Know how to use the "cloud" to store and share information among team members.
589) Show our work, our logic, our assumptions ... numbers alone mean nothing!
590) Exercise: List 10 new revenue sources for our venture. What will it take to get them up and running?
591) Turn a little knowledge of this and a little knowledge of that and make it into something new and better.
592) Q: Got a grumpy team? A: Let's call it a day and go get a beer!
593) Use history as a guide, not a jailer.
594) Buy comfortable furniture. Add a cushion here and there as needed. And hang some nice pictures on the wall, too. Art smart.
595) Recognize opportunities ... practice the recognition skill!
596) Making a great presentation: Graph data whenever possible. [Thank you, Ian McKenzie]
597) Skilled innovators and entrepreneurs are willing to work hard ... and smart.
598) Build, measure, learn, and make mistakes as we go ... we'll know more about what we're doing as we're doing it, instead of before we do it. [Thank you, Jason Fried]
599) An imitation is never as good as the original ... sometimes they're actually better!
600) Exploit untapped opportunities, like a keg of beer.
601) Entrepreneurial Myth: Most entrepreneurs are successful financially ... yes, some entrepreneurs do become rich ... most, however, do not. [Thank you, Scott Shane]
602) 72 divided by the annual interest rate as a percentage is approximately equal to the number years until an investment doubles in value ... example: At 8% interest, our money will double in approximately 9 years (72/8 = 9).
603) In an information economy, the most valuable company assets drive themselves home every night ... if they are not treated well, they do not return the next morning. [Thank you, Peter Chang]
604) Why join the navy if you can be a pirate! [Thank you, Steve Jobs]
605) Allocate money and resources for new ideas. [Thank you, Don Treffinger]
606) Get rich in a niche ... but sometimes finding a rich niche is a bitch!
607) Great things will never happen with VCs or professional managers ... they have high drive, but they don't have creativity or insight. [Thank you, Elon Musk]
608) Keep our promises.
609) Every problem is an opportunity ... maybe for us, maybe not ... pragmatically pick our problems.
610) There is a time for every purpose ... A time to be born, a time to die; A time to plant, a time to reap; A time to kill, a time to heal; A time to laugh, a time to weep ... (Thank you, Byrds)
611) The world likes happy ... don't disappoint.
612) Skilled innovators and entrepreneurs are able to create internal visualizations of the future.
613) We only see the rainbow when we turn our backs to the sun. [Thank you, Aage Gribskov]
614) Only by trying to go too far can we find out how far we really can go.
615) Do our job better than anyone else. That will set us apart.
616) Allow for human nature ... it is the humans that make the decisions that most directly impact our venture.
617) There is no substitute for hard work. [Thank you, Thomas Alva Edison]
618) Objective benefits ... list the measurable values we can deliver to our customers ... the more the merrier!
619) How can we promote our venture with sales incentives?
620) Do our promotions and advertising develop a desire in our prospective customers to buy from us?
621) Types of intellectual property: copyrights, trade secrets, trademarks (and service marks), and patents (utility and design).
622) Pacesetting leadership style ... the leader sets high standards for performance. [Thank you, Daniel Goleman]
623) How to attract new customers: have an introductory offer to get them in the door.
624) Desire, Discover, Define, Design, Deploy, Develop: the typical development stages for a new product, service, process, method, venture, organization, et alia.
625) We won't always have all the facts ... so we'll need to have our best judgment ready to go!
626) Repeat back what we hear ... did the speaker really say what we think they said?
627) Entrepreneurial Myth: Most entrepreneurs start businesses in attractive industries ... unfortunately, the opposite is true. [Thank you, Scott Shane]
628) Back or Forth ... which way are we going, which way do we really need to go?
629) Reinforce the factors that have contributed to our past success.
630) Many new discoveries are suddenly seeing things that were always there. [Thank you, Susanne K Langer]
631) Key question for our venture: What are their weaknesses? ... our venture, our competitors, our customers ... what are we going to do about that?
632) Direct price: how much it costs our customers to buy our products and services.
633) Business plan competitions: the best plan does not always win, so don't take it too personally.
634) Key question for our venture: Is our venture and product mix aligned with the current industry trends?
635) Identify our customer’s buying frequency and their willingness to pay. [Thank you, Andrew Zacharakis]
636) Be as useful as we can to our customers. Go above and beyond expectations.
637) The customer is king/queen ... treat them as royalty (if we want to earn royalties!)
638) What we do speaks louder than what we say. [Thank you, Ralph Waldo Emerson]
639) Invention: something created that is new and useful and not obvious ... an important note here: an invention is NOT necessarily better than what already exists ... an invention is NOT necessarily an innovation (something new AND better!) ... most inventions are not innovations ... they are simply different ways of doing something. [Thank you, IEEE]
640) Persevere ... last longer than the other guy/gal ... that'll show 'em!
641) Don't play favorites ... be upfront and fair all around.
642) Imagine that ... we can imagine whatever we want; whenever we want; wherever we want.
643) Phase: a distinct period or stage in a process of change or forming part of something's development. What phase are we in right now? What's next?
644) Make it better and cheaper and faster before our competitors do. [Thank you, Intel]
645) Risk is a necessary evil.
646) Try not to keep going back to the well for more water ... stakeholders get irritated if we can't manage what we already have.
647) Trust: firm belief in the reliability, truth, and strength of someone or something.
648) Just suppose ... we can “just suppose” anything we want ... just suppose there are no restraints, no limitations, no roadblocks to our thinking, to what we want to accomplish ... just suppose we can think whatever we want, wherever we want, whenever we want, and no one can stop us ... just suppose anything we want!
649) A potential business model: Provide infrastructure support to other business ventures.
650) The best questions have more than one answer ... but that doesn't mean all the answers are all right.
651) Common bootstrapping strategy: live with relatives.
652) Do our own thing, and be really, really good at it!
653) Should we promote our venture with trade and technical magazines and newspapers?
654) Have we defined our target customer profile accurately?
655) Objective and subjective specifications. Most products and services have both.
656) Learning has no limit ... it goes on forever, and that's not a bad thing.
657) Key question for our venture: What are our competitive positions?
658) Forecast: a prediction or estimate of future events.
659) Don't lose our sense of humor ... life is short, might as well enjoy it while we can.
660) Successful companies can indeed "make money" ... called "stock certificates", they are redeemable for real dollars.
661) Technology will literally transform every aspect of business, every aspect of life, and every aspect of society. [Thank you, Carly Fiorina]
662) Objective: a thing aimed at or sought. What are our key objectives?
663) Put all our eggs in one basket ... don't spread ourselves thin ... but we better be really, really careful about what we do with that basket!
664) Key question for our venture: What is the lifetime value of a customer? How much does it cost to capture that customer? Are we getting ahead in this game?
665) Tomorrow is a new day ... and a new day is neither better nor worse until we make it so.
666) Great things are not accomplished without great passion ... when the skills are light and the luck is low, fill in the void with passion.
667) Grasp a little and we may get it ... grasp too much and we may not.
668) Humor is the most significant activity of the human brain. [Thank you, Edward De Bono]
669) It takes years to build trust ... but only seconds to destroy it.
670) There is no harm in asking ... what's the worse they could answer?
671) SWOTT: an abbreviation / acronym for Strengths, Weaknesses, Opportunities, Threats, and Trends ... use for analyzing an industry, the competition, customers, our own venture.
672) Promote our venture with bus and streetcar and taxi ads ... will that work?
673) Create our own special ocean where we're the big fish and the sharks are somewhere else.
674) Adversity: difficulties, misfortunes ... what are we going to do about them?
675) People resist change ... even little ones. Getting customers to switch from the competition to us is not easy.
676) Don't do what they don't want ... do do what they do. Scooby dooby do!
677) Build and maintain an environment that is conducive to high motivation. [Thank you, K A Zein]
678) Entrepreneurial Myth: Venture capitalists are a good place to go for start-up money ... it depends on the type of venture ... some high-tech ventures do start with VC money, particularly when the investors are an integral part of the planning team ... however, most new and early-stage ventures do not receive VC fundings and never will. [Thank you, Scott Shane]
679) Give ‘em some room to breathe ... some days, we all need a little extra space.
680) Break the problem into pieces ... solve for the pieces, then put them back together again.
681) Work with the people you like ... like the people you work with.
682) Don't “wing it” ... unless we really, really have to or else we'll get hit by a train. A big train. Not an ordinary train, but a 200-car fully-loaded freight train. That would hurt ... So then, maybe we wing it and fly in the sky?
683) Never say never ... if we should, we can and would!
684) Key question for our venture: What do we need to know about our industry that we don't already know?
685) What we don’t know would make a good book. [Thank you, Sydney Smith]
686) Skilled innovators and entrepreneurs have a sense of humor.
687) Try to avoid the speed bumps and potholes.
688) Entrepreneurs are usually good at forming strategies and tactics.
689) Rotate jobs ... see how the other shoes fit and feel!
690) It's not all about us ... it is all about our customers!
691) Time is far more valuable than money ... money can be replaced, time can not. [Thank you, Curt Van Lydegraf]
692) Dream a big dream ... what do we have to lose?
693) One home run does not win a ball game, unless we keep the opposing team from scoring two. [Thank you, Kenny Lofton]
694) A happy venture is a productive venture.
695) A good venture operations manual offers examples of standard forms, reducing the number and variety of forms used.
696) Wake up! stop what you're doing right now! (OK, so you're reading this book ... it'll still be here when you come back!) ... but right now, Wake Up! open your eyes and look around ... keep looking until you see something new ... capture the moment ... a picture, a note, a memory.
697) Give more ... take less ... keep improving our value proposition!
698) Technology happens ... it’s not good, it’s not bad, it just happens. [Thank you, Andy Grove]
699) As a cure for worrying, work is better than whiskey ... (Well, maybe not a single-malt Islay!). [Thank you, Thomas A Edison]
700) Test it first at home ... if we don't like it, why do we think our customers would.
701) Get a good accountant.
702) A new venture should have a very clear, crisp, descriptive tagline ... nobody knows what a new business even does in the early days, so use a tagline to tell 'em ... in the early days, McDonald's tagline was simply "Hamburgers" because back then, nobody knew what a McDonald's was or did.
703) The unfinished is nothing. [Thank you, Henri Frederic Amiel]
704) Nothing is so contagious as enthusiasm. [Thank you, Samuel Taylor Coleridge]
705) How can we answer this question: Can we sell our products directly to other business ventures?
706) Success requires some order. Business success requires some orders.
707) Better is better than best ... they might think they're the best, but we are better!
708) Skilled innovators and entrepreneurs are knowledgeable.
709) Forming, storming, norming, performing ... a model of group development wherein these phases are all necessary and inevitable in order for the team to grow, to face up to challenges, to tackle problems, to find solutions, to plan work, and to deliver results. [Thank you, Bruce Tuckman]
710) When seldom is heard an encouraging word, the sky is just cloudy all day ... sock that one away, boss people.
711) Good people, good business.
712) Get what we can, and what we get, hold.
713) More heroes, not zeros. [Thank you, Michael Bassey Johnson]
714) Successful launches are iterative.
715) Don't be boring ... if we are, let's at least be short about it.
716) Don't rely on just one big customer or client. Broaden the base.
717) How long does it take for a new idea to take hold? ... a day, a week, a month, a year, a lifetime?
718) A successful relationship needs both sides believing in each other ... our customers have to believe that we will deliver the best value to them, and we have to believe they will find that value worthy enough to pay our price.
719) Passion pays, sex sells, weird works ... what do we put in our advertising campaign?
720) What we like, or what our customers like ... what should we focus on today?
721) Save the whales, the elephants, and the Oxford Comma. [Thank you, James Arnold]
722) It could be a good opportunity if our solution can generate a sustainable profit.
723) Build a personal brand. [Thank you, Nelson Wang]
724) 0 to 100 ... how long is it going to take our venture to get up to speed?. [Thank you, Michael DeCesaro]
725) A potential business model: Design products, build and sell them.
726) If we stay in the middle of the road, we'll get run over.
727) Vegetables or Minerals ... what should we focus on today?
728) Do not let what we cannot do interfere with what we can. [Thank you, John Wooden]
729) Numbers can be bent to the will of whoever happens to be wielding them. [Thank you, Darrell Huff]
730) Business plan outline: Executive summary; Company description; Industry analysis and trends; Target market; Competition; Strategic position and risk assessment; Marketing plan and sales strategy; Operations; Technology plan; Management and organization; Community involvement and social responsibility; Development, milestones, and exit plan; The financials. [Thank you, Rhonda Abrams]
731) Elvis has left the building. Bummer.
732) Cutting costs without improving quality is futile. [Thank you, W Edwards Deming]
733) Common cause of venture death: lack of resources.
734) Giving advice is easy ... taking it is hard!
735) When writing our business plan, avoid overestimating on our financial projections ... sure we want to look good, but resist optimism here ... use half of what we think is reasonable ... better to underestimate than set expectations that aren't fulfilled. [Thank you, Kaye Vivian]
736) When the cat's out of the bag ... it's fair game for us to chase it! [Thank you, Paul Biegler]
737) Skilled innovators and entrepreneurs are expressive
738) The right to do something does not mean that doing it is right. [Thank you, William Safire]
739) Innovation barely exists until it is communicated and brought to life in the minds of others.
740) Ideas build upon each other.
741) Use customer interviews to gather primary research data.
742) Good leaders are innovative and entrepreneurial.
743) Customers are easily satisfied with the best ... give it to them.
744) Does our name fit customers' expectations?
745) Keep our fingers crossed and our toes on the road.
746) Some people never miss an opportunity to miss an opportunity. [Thank you, Algernon West]
747) One experiment after another ... so goes life!
748) SCAMPER: Substitute; Combine; Adapt; Modify, Minimize, Magnify; Put to Another Use; Eliminate, Elaborate; Rearrange, Reverse ... a great tool to use when creating a new product, service, process, or business methodology. [Thank you, Robert Eberle and Alex Osborn]
749) Operations: the harvesting of value from assets owned by a business venture; manufacturing, production, and delivery of goods and services ... deliver the right product at the right price to the right customers at the right time and right place
750) Successful entrepreneurs collaborate more than they compete ... rarely can one person do it alone and succeed. [Thank you, Heidi M Neck]
751) Whatever we believe, we become.
752) Innovating is competitive creativity ... making something new and better than what is already out there!
753) We can learn a lot from history ... or not!
754) Entrepreneurs act more than they plan to act ... they just don't like to sit around and talk!
755) Make sure we have our raw material suppliers lined up and ready to go when we launch a new product.
756) Website for government statistics: www.fedstats.gov
757) Furious activity is no substitute for understanding. [Thank you, H H Williams]
758) The most terrifying words in the English language are: I'm from the government and I'm here to help. [Thank you, Ronald Reagan]
759) The less time and money it takes to start and manage a business, the more likely it is to succeed. [Thank you, Robert Kessler]
760) Genius is initiative on fire. [Thank you, Holbrook Jackson]
761) Be original.
762) A closed mind is like a closed book: just a block of wood.
763) Key question for our venture: Who do we need in our venture? ... Who don't we need?
764) The window of opportunity is only open so long ... and tends to close with a bang! [Thank you, Bill Gates]
765) Doing something we love is never a waste of time.
766) Angel Advocate: someone who builds on new ideas instead of tearing them apart.
767) Entrepreneurship is a methodology ... a set of practices, continuous learning, iteration and improvements, a focus on action, and collaboration. [Thank you, Candida G Brush]
768) Nothing is forever except change.
769) Nobody ever said we had to start at ground zero.
770) Make the time to listen and be available to our customer for their questions and comments.
771) The world has always been and will always be full of new opportunities.
772) Key question for our venture: Is our name instantly recognized for good reasons?
773) We'll never run out of great ideas! [Thank you, Paul Efron]
774) Lightning doesn't strike twice in the same place ... the same place isn't there the second time!
775) Most innovations are just incremental improvements of things that already exist.
776) There are three ways to get to the top of a tree: sit on an acorn; make friends with a bird; climb to the top. [Thank you, Ray Rolland]
777) Time is not money ... money cannot buy us more time, but with time we can make more money!
778) Entrepreneurs are usually logical thinkers. Sometimes, if they are not, it's even more interesting!
779) LLC: abbreviation for Limited Liability Company ... 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.
780) A little impatience spoils great plans.
781) Know how to find the right moment.
782) If we really want to learn about something, we've got to experience it ourselves.
783) Key question for our venture: Are there any negative connotations with our name?
784) Karma exists: treat customers with respect and they'll reciprocate ... spam them, annoy them, and lie to them, and they'll retaliate. [Thank you, Ian Lurie]
785) Branding mistake: inconsistencies ... such as different logos, different colors, et al ... our brand needs to be consistent everywhere in order to reinforce and remind our customers of what we are all about. [Thank you, Jarad Hull]
786) I’m going to make them an offer they can't refuse ... What offer can we make to our customers that they just can't refuse?. [Thank you, Marlon Brando]
787) There are no rules. [Thank you, Nike]
788) Once the term sheet is signed, the power shifts away from the startup to the purchaser ... the typical term sheet will give the purchaser the discretion to step away from the deal if due diligence is unsatisfactory, or if the necessary internal approvals are not obtained. [Thank you, Suzanne Williams]
789) New technology is common, new thinking is not. [Thank you, Peter Blake]
790) What would we do for free? Free is the most powerful word in the English language. We all want something for "free", but what are we willing to do for free?
791) Key question for our venture: What is our vision for our venture five to 10 years from now?
792) Enjoy what we have instead of feeling sorry for what we do not.
793) We do not need an invitation to help others.
794) Hierarchy of Needs ... 1] Physiological needs (food, water, warmth, rest); 2] Safety needs (security, safety); 3] Belongingness (intimate relationships, friends); 4] Esteem needs (prestige and feelings of accomplishment); 5] Self-actualization (achieving one's full potential, including creative activities). [Thank you, Abraham Maslow]
795) Replace wishing and wanting with acting and doing.
796) Our messages should be brief and to the point ... why communicate our message in six sentences when we can do it in three?
797) Be on a mission ... earn a profit solving customer problems better than the competition!
798) An ellipsis... three periods (stops) followed by a space. A "pauseandthink" ... a space followed by three dots and another space ... it is a suggestion to readers to "pause and think" about what they've just read. [Note from Jim: I will lay claim to inventing the "pauseandthink" ... just what the world needed was yet another punctuation mark! Feel free to use it as you may.]
799) There are some 28 million registered businesses in the US ... many more worldwide, of course!
800) One of the tests of leadership is the ability to recognize a problem before it becomes an emergency. [Thank you, Arnold H Glasow]
801) Margin: an amount of something included so as to be sure of success or safety. [Thank you, Google Dictionary]
802) Key question for our venture: When do we need who to join in our venture? It would see 3 is the right number for venture founders: a general manager and finance person, a product development and operations person, and a marketing/sales person. Eventually, we will add more to the team, but only when needed.
803) Work: activity involving mental or physical effort done in order to achieve a purpose or result.
804) Express ourselves.
805) Scope it out ... scoop it up!
806) Buy low, sell high ... the core element of every successful business model.
807) Be sincere about our desire to help the prospect ... Making the sale should be our secondary objective. This attitude will come through in every encounter and will help us build long-term relationships.
808) Accentuate the positive, eliminate the negative, latch on to the affirmative, don't mess with Mister In-Between! [Thank you, Johnny Mercer]
809) Make it more accessible. [Thank you, Bikram Choudhury]
810) Be careful of commitments ... make sure we can meet them!
811) Sight, sound, smell, taste, and feel ... appeal to the senses.
812) Relationships can wear out ... it takes some work to keep them fresh.
813) Tip for creating a good venture plan: Planning is like steering, and steering means constantly correcting errors and omissions. [Thank you, Tim Berry]
814) Creative people tolerate acceptable losses ... two steps ahead, one step back ... if the road ahead was like a freeway, it means someone else has already been there and back. [Thank you, Christopher P Neck]
815) Making something complicated is easy, making something simple is not.
816) Say "Thanks!" ... and really mean it.
817) How deep is the ocean? Well, that depends on where we jump in ... it's only a few inches at the beach, but thousands of feet in the middle. Do we want to wade into unchartered waters, or should we just jump in the middle and take our chances?
818) Keep breathing ... deep, long, and slow. Now ... doesn't that feel better?
819) Aim high ... even if we miss when we shoot for the stars, we could still end up on the moon!
820) Common cause of venture death: out-competed by the competition.
821) Intuitive or Inductive ... what should we focus on today?
822) A good business plan succinctly explains customer benefits in qualitative and quantitative terms. [Thank you, Stephen Fleming]
823) The truth must be pursued. [Thank you, New York Times]
824) Some business plans are pencil sketches, others are Sistine Chapels. Choose the right approach (complexity, time, details) to fit the venture.
825) Don't argue with someone who is right ... cut your losses, take your bat and ball and go home. Come and play again another day.
826) Knowledge is a precious treasure that cannot be given away nor stolen.
827) Maintain an environment that allows risk taking. [Thank you, Scott Isaksen]
828) To kill creativity, just say: "That's a stupid idea ..."
829) KISS: acronym for Keep It Simple, Stupid; a guiding philosophy widely used in organizations that aims to focus management attention on the core attributes of a product, service, process, methodology, or task ...
830) There is always money to support a great idea. The problem may be finding it.
831) Critical Path: the sequence of stages determining the optimal route to success.
832) Imagine great things ... now imagine making them happen.
833) Since everything is a reflection of our minds, everything can be changed by our minds. [Thank you, Buddha]
834) Attitudes are more important than facts.
835) First Base or Home Run ... what should we focus on today?
836) Same old, same old ... some things never change, so it seems, until someone somewhere changes them.
837) Diversify our investments.
838) Modify, Forecast, Restructure, Initiate, Imagine, Substitute, Change
839) Promote our venture with offer a reward for referrals.
840) A good business plan presents a quality, sophisticated, experienced management team, advisors, and board of directors with complementary and encompassing business skills.
841) Directly collect information about our markets and customers ... go talk to real prospective customers.
842) Fear is a great inventor ... it's fearless that gets into trouble.
843) Key question for our venture: What are the major weaknesses of our industry?
844) Use the passive voice sparingly. [Thank you, Randy Accetta]
845) Copy from the greats.
846) What are the substitutes available to buyers. What are we going to do about them?
847) To build a good relationship with our customers, spend half as much money but twice as much time.
848) Promote our venture with employee events? How will that work?
849) Innovation is the primary instrument of entrepreneurship ... the act that endows resources with a new capacity to create wealth. [Thank you, Peter F Drucker]
850) Focus on measuring one or two variables at a time. [Thank you, Jenn Kim]
851) A brand is a promise. [Thank you, Alaina Levine]
852) Investability: a venture that is able to attract funding from investors that have the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property.
853) A goal is a dream with a deadline. [Thank you, Leo Helzel]
854) Don't ask for a Porsche in the first round of new venture funding. [Been there, done that ... it didn't work out. -Jim]
855) Quality is remembered long after the price is forgotten. [Thank you, Gucci]
856) Successful innovators and entrepreneurs have a commitment to test knowledge through experience, persistence, and a willingness to learn from mistakes. [Thank you, Michael J Gelb]
857) Pre-Money Valuation: the financial value or worth established for a company immediately prior to a financing round.
858) Explore, incubate, stimulate, illuminate, select, plan, implement, evaluate ...
859) Not everything that can be counted counts, and not everything that counts can be counted. [Thank you, Albert Einstein]
860) Leaders are facilitators, not order givers.
861) Common bootstrapping strategy: give discounts to early customers.
862) Create and nourish a customer community.
863) Vision is the art of seeing things invisible. [Thank you, Jonathan Swift]
864) Luck affects everything, good or bad.
865) Make sure the cost of producing our product is significantly lower than the future sales price.
866) Know how to use at least one good word processing program ... Microsoft Word is most popular, Google Docs is good, too, as are others.
867) Keep our plan as close to the “general format” as possible ... if a venture capitalist becomes frustrated with an unfamiliar format, it is more likely that she will reject it rather than try to pull out the pertinent information. [Thank you, Andrew Zacharakis]
868) Our knowledge is finite, our ignorance infinite.
869) Wonders will never cease!
870) Even a blind squirrel will find an acorn once in awhile. [Thank you, Mike Novy]
871) Key question for our venture: What is happening in our industry around the world, not just in our world?
872) Cutting prices or putting things on sale is not a sustainable business model. [Thank you, Howard Schultz]
873) Exercise: List 100 potential new customers for our new product or service. Now go get 'em!
874) Think fast.
875) Make ourselves necessary to someone. [Thank you, Ralph Waldo Emerson ]
876) Scratch where it itches (but maybe not in public).
877) Ideas are funny things ... they don't work unless we do.
878) We've solved the crime, now all that's left is to make the evidence fit.
879) Speaking softly will often gain more attention than shouting.
880) Whatever can go wrong, will ... and at the most inopportune time. [Thank you, Murphy] (BTW ... Murphy was an optimist.)
881) Skilled innovators and entrepreneurs are willing to ask "why?" and "why not?"
882) Key question for our venture: What are the barriers to entry, for us and for our competitors?
883) To get something we never had, we have to do something we never did. [Thank you, Albert Einstein]
884) Common cause of venture death: lack of money. Oh, that minor little detail!
885) Potential opportunities have potential economic value. [Thank you, IDEO]
886) A good read: Integrity is All You've Got (Karl Eller)
887) Key question for our venture: Does the name work in all target markets?
888) Debt Funding: a loan of money that must be repaid with interest.
889) We are continually faced with a series of great opportunities brilliantly disguised as insoluble problems. [Thank you, John W Gardner]
890) Core Competency: the defining capabilities or advantages that distinguishes a venture from its competitors ...
891) Success begets success. Sometimes it's the other way around.
892) Do an intensely good job ... even in our sleep! [Thank you, Frank DeCesaro]
893) Don't fall in love too quick or too often.
894) Do not do what is already done ... take what is already done and do it a heck of a lot better.
895) Key question for our venture: What relevant domain experience does our venture team have? ... What do we need?
896) Profit is our best source of funding.
897) Common Mistake: underestimating the time it takes to become a stable venture, that is, consistently financially break-even or better.
898) Skilled innovators and entrepreneurs are able to resist jumping to premature conclusions.
899) Getting to know anything takes time.
900) Comprehension: classify, describe, discuss, explain, express, identify, indicate, locate, recognize, report, restate, review, select, translate, ...
901) In unity comes strength ...
902) A picture is worth a thousand words ... a prototype is worth a thousand pictures. [Thank you, Ray Knutson]
903) Exploration: traveling in or through an unfamiliar area in order to learn about it and uncover new opportunities.
904) There are seven sins in the world ... wealth without work, pleasure without conscience, knowledge without character, commerce without morality, science without humanity, worship without sacrifice, and politics without principle. [Thank you, Mohandas Gandhi]
905) Sales revenues are important, yes ... but sustainable earnings are quite often more critical for venture success. [Thank you, Ted Turner]
906) Tell them what they get, not what we do. [Thank you, Rhonda Abrams]
907) We can never get the past back ... but we can make the most of now.
908) Look for what we can throw away ... make it simpler!
909) Differentiation: what makes something different. How are we differentiated by our customers from our competition? Are we just different, or are we better different?
910) Do what we can, with what we have, where we are. [Thank you, Teddy Roosevelt]
911) We are not our customer ... the customer is our customer and we need to know what they think.
912) Faced with the choice between changing one's mind and proving there is no need to do so, almost everyone gets busy on the proof. [Thank you, John Kenneth Galbraith]
913) Key question for our venture: How do we define our marketing strategy?
914) Service: the action of helping or doing work for someone.
915) How can we answer this question: Is our venture an incremental innovation or something completely new? ... if it is completely new, we may have more issues in going to market than if we had something similar but better than what already exists.
916) If we pay peanuts, we get monkeys!
917) Is our venture compelling? Why or why not?
918) There is only the future: the present just became the past, the past is now history.
919) A good cookbook never gets outdated, it just gets better with practice. [Thank you, Carol Willson]
920) Something posted on-line spreads, like it or not.
921) A good business plan explains how and when the venture will generate sustainable positive cash flow streams. [Thank you, October Sports]
922) Don't say one thing and mean another ... don't beat around the bush.
923) Expect chaos. Plan for it.
924) By the work one knows the workman. [Thank you, Jean de la Fontaine]
925) Choose markets that are in harmony with our values.
926) Stay in touch with our customers; their needs are the basis of our business. [Thank you, Mike Dell]
927) An expanded business plan executive summary is typically 4 to 6 pages in length.
928) The most exciting phrase in science, the one that heralds new discoveries, is not "Eureka, I've found it!", it is "That's funny ...". [Thank you, Isaac Asimov]
929) Valuation: the monetary worth of something, especially as estimated by an appraiser and industry experts.
930) Writing about music is like dancing about architecture ... what's the best way to communicate with our customers? Maybe give them a little sample of the goods?. [Thank you, Elvis Costello]
931) The real question is not whether machines think but whether people do. [Thank you, Vinay Nenwani]
932) The secret of genius is to carry the spirit of the child into old age ... which means never losing our enthusiasm. [Thank you, Aldous Huxley]
933) The truth is hard.
934) Stress less, mess more, more or less.
935) Do not fight a battle if there is nothing to win or lose.
936) Use the right language ... talk the talk, walk the walk, write the right way to fit your target audience ... if it's a techie audience, talk techie; if it's a financial audience, talk money; if it's a customer audience, talk benefits and features.
937) Real integrity is doing the right thing, knowing nobody is going to know whether we did it or not. [Thank you, Oprah Winfrey]
938) Nobody likes change ... even change for the better has its detractors!
939) Keeping good company keeps a company good.
940) Customers don't always know what they really need, want, or desire until we show it to them.
941) Follow our hearts but take our brains with us and use them.
942) Finance is the art of passing money from hand to hand until it finally disappears. [Thank you, Robert W Sarnoff]
943) Surround ourselves with people who are more intelligent than us.
944) Promote our venture with vehicle signs? Yes, no?
945) Seeing opportunity and seizing it are two different things. [Thank you, Grover Cleveland]
946) If an idea is worth having once, it’s worth having twice. [Thank you, Tom Stoppard]
947) Neat or messy ... what should we be today?
948) Don't mumble or jumble or grumble.
949) Have a nice day ... we might not get another chance!
950) minimal viable product (mvp) or Maximum Value Product (MVP) ... creating an mvp first can be the right strategy for some products, but a major setback for others ... hard to have an mvp airplane! If we start with an mvp, what will it take to move to an MVP?
951) Skilled innovators and entrepreneurs are articulate.
952) Il n'y a au monde que deux manières de s'élever, ou par sa propre industrie, ou par l'imbécilitè des autres ... There are but two ways of rising in the world, either by one's own industry or profiting by the foolishness of others. [Thank you, Jean de La Bruyère]
953) Be the change we want to see in the world. [Thank you, Fernando Garcia for reminding me of this quote (often attributed to Mahatma Gandhi, but no solid evidence he actually said that)]
954) Promote our venture with charitable contributions.
955) Don't waste time on market research ... instead, launch test versions as early as possible, then keep improving the product in the open. [Thank you, Loic Le Meur]
956) Intersperse market and business needs with technological advances. [Thank you, S Fountoulakis]
957) Through many dangers, toils, and snares we have already come. [Thank you, Amazing Grace]
958) Attention: notice taken of someone or something ... if our prospects don't pay attention to us, how will they possibly become customers?
959) Making a great presentation: Make visuals attractive ... avoid clutter and work for simplicity and clarity. [Thank you, Ian McKenzie]
960) To maximize miles-per-gallon, aim for the lowest rpm in the highest gear ... how does that apply to our venture?. [Thank you, Rick Newman]
961) If we can’t say anything nice about someone, don't say anything at all.
962) An investment in knowledge pays the best interest.
963) Skilled innovators and entrepreneurs are adaptable.
964) Any change generates wasted heat. The less wasted heat the better.
965) She who laughs last remembers our commercial ... she who laughs last, laughs best
966) Be careful about mixing friendships inside and outside of work.
967) Play is a critical skill for innovators and entrepreneurs. [Thank you, P G Greene]
968) Might we promote our venture with shopper classified newspapers?
969) Could we promote our venture with contests?
970) Advertising: describe or draw attention to a product, service, or event in a public medium in order to promote sales or attendance. [Thank you, Google Dictionary]
971) Constantly look at things in a different way. [Thank you, John Keating]
972) Talent hits a target no one else can hit ... genius hits a target no one else can see. [Thank you, Arthur Schopenhauer]
973) Courtesy costs nothing.
974) Knowledge is knowing a fact, wisdom is knowing what to do with that fact.
975) Answer all the questions ... if we don't know the answers, let's find out.
976) Skilled innovators and entrepreneurs are exciting people. Maybe not all the time, but some time.
977) If we don't do it, how will we feel when someone else does?
978) Make the bed right in the morning ... Learn to do the little things well, learn to make the bed right and that will transcend into other things we do. [Thank you, William McRaven]
979) The gentle calf sucks all the cows. [Thank you, Mike Novy]
980) Skilled innovators and entrepreneurs are able to focus.
981) Set sales objectives, not sales projections ... objectives are personal, projections are not.
982) Never insult an alligator until after we've crossed the river. [Thank you, Cordell Hunt]
983) I'm sorry, Moe, it was an accident ... accidents happen, it's how we handle them that counts. [Thank you, Curly Howard]
984) We can promote our venture with special sales, yes or no?
985) Duplicate what works here over there, and what works over there here.
986) Should we promote our venture with email marketing?
987) Make life easier for our customers.
988) Most successful innovators and entrepreneurs want to do something good for the environment and humanity.
989) We have a right, even an obligation to our customers, to earn a fair and reasonable profit so we can stay in business and continue to serve them! Fair. Reasonable.
990) Relish the details ... they can make us really shine to our customers!
991) We cannot change the cards we are dealt, just how we play the hand. [Thank you, Randy Pausch]
992) If it’s not growing, it’s going to die. [Thank you, Michael Eisner]
993) The most important attribute for any entrepreneur: Passion. [Thank you, Paul Allen]
994) Nobody made a greater mistake than she who did nothing because she could do only a little. [Thank you, Edmund Burke]
995) Actively engage trade booth visitors ... we're paying to be there, they're paying to be there, let's both get our money's worth. [Thank you, Susan Ward]
996) Promote our venture with direct mail advertising? What will happen with that?
997) Make life better for our customers ... that will keep them coming back.
999) Make a big splash ... don't just wade in the water, do a cannonball.
1000) PR: abbreviation for Public Relations.
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