38 karma · joined June 2, 2010
Also don't limit yourself to the stock market, you should really look at derivatives across all markets especially exotics, there is so much inneficiency it is not even funny. If i could move money freely around internationally there is so much stuff i can do, but now with the patriot act and, it is hard to move money freely and quickly.
Sometimes when u wait that long, the opportunity has been taken by someone else, you running out of money or your customer's are just too frustrated with your business. I believe that you are correct that stepping up communication is important but we also have to keep in mind that time is money. My advice would be to put a time frame on it and if the issue is not solved start executing your plan. Also always remember that the health of the business comes first.
That being said i will not be tuning in to the annoying little orange again.
In the trading industry, they say that only 5% of traders are successful and of that 5% only 1% make enough to call themselves wealthy.....that is why George Soros can make $500mill a year or $1bill in the 1992 British pound trade, or Ken Griffith buying a $60mill dollar painting and giving it to a museum. Many traders will say that number is higher but you find many traders who hover around that break even point unable to make the leap.
Look at the sporting industry, how many kids want to be star athletes and how many make it, then when u look at those that make it to college level, more drop off unable to make the leap. Then of those that go pro, there will only be a handful that will be stars, like Kobe.
So i guess its not about just making it, its about making the leap from borderline success to real success that separates the men from the boys. Since if u are just borderline you will never be happy and you will eventually burn out.
Look, for every 100 people that venture into entrepreneurship, less than 10 make it, that is why there is so much money to be made. You should be proud of your effort, the only time you should be pissed at yourself is if you didn't commit 100%, in the long run we are all dead!
1. Survive first then gain competitive advantage: In that make sure you survive first.....so get income(9-5 job, freelance, anything), then get competitive advantage(make yourself feel special) by starting a business.
2. Make everything Fast, Focused and Fundamental:
Fast-- This relates to the time element, every task/action should have a stated timeline in which it should be achieved.
Focused-- These key tasks/actions should be protected from other tasks/actions cannibalizing time.
Fundamental-- Only efforts that go to the heart of the matter should be pursued. Only actions that are going to make a big difference to the underlying should be pursued at this point.
3. Don't tolerate failure to deliver more than once: Two or three failures to deliver suggests a lack of will, incompetence or even subversion. This applies to anyone.
You should now ask yourself, am i satisfying point 1? Then make your way from there.
In Entrepreneurship(Particularly web apps), i disagree that you need to be an expert, i believe that you need to be able to get something built and manage whatever traction you get from there to make your business solid. Such as getting top talent to do thinks the right way. The key is just get something built first......in my opinion.
What i found is that there is so much help, so many places to find the answer if u can research. Just reading the source code, Readme docs, chat rooms, is so much help. Cookbooks, tutorials by bloggers are all helping me along. Also, you can create so much with just a little technical skills. At the end, you still have to run a business, be a hustler. So when i launch my little application, i will try and get some talent on board as well(if i am lucky). The key is to achieve a lot with a little.
I almost forgot......Google developer tools, has sped up my learning so so much, reading the source code of websites and looking at all the scripts. Its just amazing the resources available today vs 5yrs ago.