Posts Tagged → entrepreneurship

You Are Not ‘Behind’

Have you ever felt like you were behind? I used to feel that way. I would read articles about a 26-year-old entrepreneur with a billion-dollar company or a 16-year-old kid who invented a new kind of fusion reactor and a slow creep of panic would start to rise in my chest. I would read about my favorite author who published their first book at 27 and I was already 25 and I had not even written one page and I started counting backwards to figure out of it was even possible to finish a book by then and I can’t believe I didn’t start it last year when I said I was going to and why the hell it so easy to watch six seasons of Game of Thrones in two weeks but I can’t even get myself to write one fucking page of a book or how about the gym for that matter, I haven’t been to the gym in six months and if I had stuck to it back in college I would have a six pack by now like the guy on the front cover of Men’s Fitness.

Stop it.  Continue reading →

How Uber’s Autonomous Cars Will Destroy 10 Million Jobs and Reshape the Economy by 2025

Autonomous Google Uber Car

I have spent quite a bit of time lately thinking about autonomous cars, and I wanted to summarize my current thoughts and predictions. Most people – experts included – seem to think that the transition to driverless vehicles will come slowly over the coming few decades, and that large hurdles exist for widespread adoption. I believe that this is significant underestimation. Autonomous cars will be commonplace by 2025 and have a near monopoly by 2030, and the sweeping change they bring will eclipse every other innovation our society has experienced. They will cause unprecedented job loss and a fundamental restructuring of our economy, solve large portions of our environmental problems, prevent tens of thousands of deaths per year, save millions of hours with increased productivity, and create entire new industries that we cannot even imagine from our current vantage point. Continue reading →

How to Name Your Startup

“It is a pretty recognizable brand name. Originally it was ‘Jerry's Guide to the World Wide Web’ but we settled on ‘Yahoo.’” -Jerry Yang, Yahoo founder

“It is a pretty recognizable brand name. Originally it was ‘Jerry's Guide to the World Wide Web’ but we settled on ‘Yahoo.’” -Jerry Yang, Yahoo founder

It is no secret at this point that I love being an entrepreneur, and it’s a profession that I would recommend to virtually anyone. At the first mention of job-related trouble, the de facto advice I’ll dispense is to quit your job: burn the bridge behind you and don’t look back. I’ve given away more copies of The 4-Hour Workweek than I can count.

I am often asked, “what is the hardest part of starting a business?”

Like most things in life, the process of starting a business seems impossibly complex until you actually begin to undertake it – what appears from afar to be a mysterious black art becomes fairly simple and straightforward upon closer examination.

With my companies, I have negotiated distribution deals with Amazon.com, manufactured life-or-death components for 200 mph race cars in China, and managed 1,650+ different SKUs – without any full-time employees or a background in engineering, and all while living in South America for a six month stretch…without a cell phone.

Having said that, I can tell you – without hesitation – that the hardest part of starting a business is naming it. And, thanks to a booming startup market and the shrinking availability of .com domains, it is getting harder every day.

But fear not, my friends – while the proliferation of tech startups has certainly dwindled the supply of available .coms, it has also given birth to a series of fantastic tools and resources for solving this frustrating problem.

Below, we’ll go over some rules of naming, and subsequently I’ll divulge my heretofore secret arsenal that will turn you into a dark wizard in the mysterious and elusive art of startup naming.

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Investing in Loss

The view of Pike’s Peak from the top of the climb. Credit: Jordan Hayes

My forearms are burning. I open and close my hands a few times, observing the frustrating sensation of having them respond at about half the speed that I’m requesting of them. Over my left shoulder is a spectacular view of Pike’s Peak, far below me a group of climbers – some onlookers, some stealing a moment of shelter in the shade – but the view that’s really capturing my attention is the rock formation six inches in front of my face.

My right hand – and by hand, I mean some portion of a few of my fingers – is gripping onto a rock just barely within my reach. My feet are resting on a natural shelf cut into the mountain, the route above me jutting out towards my torso, pushing me into a backwards-leaning posture that feels, well, about as unnatural as leaning backwards off the edge of a cliff.

It’s my first time sport climbing.

Continue reading →

10 Killer Negotiating Tactics (or, how I got $125,000 for nothing)

A nice bonus.

I once was contacted by a multibillion dollar, publicly traded German company that wanted to use one of our trademarks for their new line of products.

I asked them how much they were willing to offer in exchange for a licensing agreement. In their response below, you’ll see them inform me that company policy prohibits them from compensating me for it, but they’d be happy to cover reasonable legal fees.

Translation: they wanted to use my trademark and they were offering me absolutely nothing in return.

It was a starting point. Continue reading →

Want To Live A Happy, Healthy Life? Fire Your Boss

People tell me time and time again that they want to quit their job, but entrepreneurship is just too risky. Here’s a few facts I’ve collected that show you that staying in the cubicle farm is more detrimental than you may think.

1. Your boss is slowly killing you.

According to a study of 3,000 Swedish workers, workers who rated their managers most incompetent had a nearly 25% higher risk of developing serious heart problems (the gluttons for punishment who stayed four years or longer increased that risk to 39%).

I personally believe that bosses should be subject to the same labeling regulations as cigarettes: 25% of their viewable surface area should display a warning from the Surgeon General.

Continue reading →

How To Make $7 Million: Ignore Your Critics

The $7,000,000 watch

If you follow any sort of tech news, I’m sure you’ve heard about Pebble – the runaway Kickstarter success story that has sold over $7 million worth of watches virtually overnight.

The project was launched by a 25 year old guy and a couple friends. As with many success stories, they turned to Kickstarter as a last resort after being turned down by a number of (regretful) venture capitalists.

I was reading a New York Times article today and it quoted one of their critics, Robert Fabricant – the VP of some big-time development firm – “casting doubt” on their success:

“Mr. Fabricant, like others in his field, cast some doubt on the notion that it was possible to sidestep the traditional routes to building a business, particularly through a service like Kickstarter. They say young, inexperienced business people need advisers, mentors and a network of support to help them deal with the problems that can emerge.”

Continue reading →

How to Apply Business Principles for a Better Personal Life

We’ve all heard stories about the workaholic corporate-type with no personal life, or the driven entrepreneur with a singular focus on business. But in reality, there’s a lot we can learn from the business world – ideas, practices, and philosophies that can be applied to lead an easier, more fulfilling, and more productive life.

I have a few favorites that I’ve raided from my entrepreneurial war chest and implemented successfully in my day-to-day routine. Follow along as we transform boring corporate jargon into Zen-like awesomeness.

Businessman meditating

Today, we're going to breathe some new life into stuffy business concepts.

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Are you happy? (My year in review)

For me, New Years Eve was never so much about resolutions as it was about drinking champagne. Sure, on December 31st I can’t help but think back nostalgically on the year that has passed, but I have always felt that the holiday was too public a time to really reflect. Besides, champagne has a way of…uh, narrowing your focus down to the moment at hand, rather than looking at the big picture. Continue reading →

How I Make Money, Part II: 5 Steps to Creating a Product

In my first post of this series, I wrote about some common myths that stop would-be entrepreneurs. This post outlines how to make a list of potential product ideas, determine which one is best, and get the ball rolling on finding a supplier.

Since you’re reading a blog post about starting your own business, we’ve already established that you aren’t satisfied with hate your job because:

  • your boss is an idiot
  • you don’t get paid enough
  • you work too many hours
  • you’re underappreciated
  • you’re bored
  • all of the above

Low risk, high profit. A good place to be.

I’m going to give you a crash course in idea generation and product development. It’s not the risky, dark art that “they” want you to think it is – once you know the key steps and some good tools, it’s as easy as…dealing with China. Continue reading →