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Free registration at the forum removes this block.In about twenty minutes I’m going to go to the local café here, The Foundry, and bring a pad, order a coffee and muffin, and write down ideas for businesses. Then I’ll probably throw the piece of paper out. Because ideas are useless. They are just practice to keep your idea muscle in shape.
FAKE RULE: People say, “Execution is important”. That’s not really true either. Execution is useless. It’s a commodity. The only thing that’s important is money. You get money by having a customer.
There’s $15 trillion dollars in our economy, recession or no recession. It's falling like snow.Reach out with your tongue and taste it.
"When I started my fund of hedge funds I didn’t put one dime into the expense of setting it up until I had the first $20 million commitment. $20 million with a 1.5% management fee meant an instant $300 thousand in revenues, plus extra money for legal fees, etc. Enough to pay a salary or two. It took a year of cultivating my network before I had that commitment, but it worked."
FAKE RULE: People say, “Execution is important”. That’s not really true either. Execution is useless. It’s a commodity. The only thing that’s important is money. You get money by having a customer.
- Ask. In the meetings ask the question, “what one product can I build for you that you will definitely buy?” Remember, execution is a commodity. Because of globalization you can build anything for cheap. I built the first working version of Stockpickr.com for $3000 in Bangalore. Throw in another $150 from a design made in Siberia. You need zero skillset for that. Just a good idea muscle, an ability to sell, and modest ability to manage a project.
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