Tag Archives: impact

Good Money, Bad Money

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The basic idea of good money and bad money is that the type of money a manager accepts carries specific expectations that must be met. These expectations heavily influence the types of markets and channels that a venture can and cannot target. The very process of securing funding forces many potentially disruptive ideas to get shaped instead as sustaining innovations that target large and obvious markets. Thus, the funding received can send great ideas on a march towards failure.

As emergent ideas are being nurtured during nascent years, money must be patient for growth but impatient for profits.

When winning strategies become clear and deliberate ideas need to be carried out then money should be impatient for growth but patient for profit.

  • Clayton Christensen, Disruptive Strategy, HBX
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What do entrepreneurs talk about?

Image of brain at work from www.fastcodesign.com

Image of brain at work from http://www.fastcodesign.com

It’s a question that I sometimes get asked. The interrogator – usually trying to make conversation – has no idea that he or she is going to get a rather less than earth shattering answer which I will share with you in a minute…

Entrepreneurs in this day and age are seen, for the most part, as “the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes…” (Steve Jobs). There is this kind of cult of entrepreneurship that even makes large industry leaders take notice and state they want to be more “entrepreneurial”. Perhaps it’s because there’s this idea (which I support) that entrepreneurs are agents of change and are people that challenge the status quo. In fact, in many of my articles for Forbes I talk about this dimension of business – the need for business today to challenge old notions of “business for making money” and restore the idea that business should be relevant to all stakeholders. Building brands that have meaning and that answer the question WHY coherently and authentically is just the first step to being change makers.

So what is it that entrepreneurs talk about? In my 21 years of experience – started my first business at 15 – entrepreneurs often talk about implementation. That’s right, creating order (or at least the semblance of order encapsulated in a product or service) out of chaos. They integrate different models to come out with something “different”; looking at partnerships, investment and even a $3 USB cord to fix the motor of a car prototype (I’m quoting Elon Musk here).

Entrepreneurs talk about implementation and about money; not as the reason for starting our business or growing it but as a means to create our prototype, develop our “proof of concept” and scale our business.

I have had the honor and the challenge of working directly with more than 10 start-ups and I have witnessed first-hand that entrepreneurs are out to change the world but in small and incremental ways; we spend our time finding out how to implement our idea for the best impact.

EMC

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Making a Difference

I think it’s safe to say we all want to make a difference. Be it big. Be it small. Sometimes the small things turn big. Sometimes the big things fizzle out and become small. But if making a difference is what we want to do in life and business then there is no better time than the present.

I’m not going to give advice on where or how to make a difference. That’s up to you. But I will say that making a difference isn’t always easy, isn’t always seen favorably, isn’t always met with loud applause and it isn’t always fruitful (at first). But making a difference – big or small – can open up opportunities for business that are totally unexpected. You are able to understand what people believe and engage people with values that are similar to your own. Making a difference has a snowball effect if it is done with heart and meaning.

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