I have a confession to make.
I'm not into details. I'm a big picture guy, one who loves strategy and vision and what-if scenarios. But when it comes to translating ideas into something that can be built, and built correctly, and without too much unnecessary time and expense, I often fall short.
Yesterday I met with another passionate entrepreneur trying to get her business off the ground. With more than 500 daily readers of my blog, and with my other writing and speaking opportunities, I am getting more requests for mentoring from entrepreneurs than I can handle.
So I'm raising the bar.
One of my friends raised the bar by charging a high monthly retainer if someone really wants his help. That way, he gets paid for his time, and the entrepreneur really listens to his advice--because it's not free.
Seth Godin just listed his top posts in 2004. I decided to list my most popular posts this year--the ones that got individual attention from other bloggers and got the most reads after leaving my main blog page (which got tens of thousan
Seth Godin just listed his top posts in 2004. I decided to list my most popular posts this year--the ones that got individual attention from other bloggers and got the most reads after leaving my main blog page (which got tens of thousands of views). So here goes:
Intermix Media (MIX) is a hot stock that benefitted today from a great article by Bambi Francisco. I knew this company as eUniverse and tracked it for years along with other massively popular web sites. It was moderately profitable back in 2001, after the bubble burst. And it is moderately profitable again today on growing revenues. One of its properties, MySpace.com, is growing like crazy with its social networking model.
The more I blog, write, and teach about entrepreneurship, the more individual entrepreneurs ask me for help and advice. On average, I think I get 2-3 requests per week for personal help.
While I enjoy doing this a great deal, I've decided that the first advice I will give every entrepreneur is to form an advisory board of perhaps 6-10 successful people, to meet with them regularly, and to use their collective wisdom to help solve every business problem.
In fact, I might tell entrepreneurs that I won't help them until they've formed an advisory board. An advisory board can help them be accountable for the advice they receive from me and others. If I'm taking 1-2 hours several times a week to counsel different entrepreneurs, what chance is there that they will act on my free advice? But if they have a board to update monthly, chances are they will be far more serious about acting on the advice they are getting.
One of the co-founders of Commission Junction, Per Pettersen, announced in July that he was forming an incubator/holding company called Estalea. He planned to start 3 companies this year. I can't find a company web site and in LinkedIn.com Per is still listed as the CTO at Commission Junction. But I'm always excited to find fools like myself that still believe in an incubator model.
Interesting article about the investor behind KMart. Business Week speculates that Eddie Lampert he may be the next Warren Buffett. He is already worth $2 billion at age 42 and is generating 29% annual returns.
More ecommerce sites are discovering the power of community and community generated content. Today Netflix made a significant announcement about enabling its movie-loving users to share their lists with one another.
One of our portfolio companies, Directory.net, has introduced its Searchability(TM) product to help small and medium sized businesses get high natural rankings on Google, Yahoo and MSN for selected keywords.
I write a monthly column for Connect Magazine. Recently I wrote about some of my favorite web sites and tools in hopes that other entrepreneurs might find them useful. Here's the link: Powertools for Entrepreneurs. Let me know what you think. Do you use other powertools that you think I might find useful?