Archive for the ‘Entrepreneurship’ Category

Thanks to LinkedIn’s generous founder, Reid Hoffman, you can use his money to make your first microloan. These very small loans help entrepreneurs in third world countries fund or expand their businesses so they can become self-sufficient. The repayment rate for these loans is an astonishing 98.94%. The incredible repayment rate points to microloans through nonprofit Kiva.org as a sustainable method for helping with poverty.

If you’re interested in loaning out Reid’s money, click the below link and choose an entrepreneur to loan $25. (When you get to Kiva.org, scroll down the page for full …

In the early days of my business, it took me months to overcome my anxiety when clients or prospects were visiting, and I’d go to extremes to dress up our offices. Before one pitch, we spent an entire weekend improving our space. We borrowed furniture from my uncle and another tenant. We even took pictures of where we put everything, so we could set things back up if the prospect returned.

I was especially anxious the week The Discovery Channel and Roche Pharmaceuticals were coming. Our office was in a distressed part of Philadelphia. Our …

“Let’s talk about our employee turnover numbers,” my boss requested.

We were reviewing our employee retention so I started going through the list of people who had left over the past few months.

“We’re happy that person left,” I said about one of our employees.

“Well I’m not,” my boss responded.

I stopped. I thought it was good that the person who quit was someone we didn’t want at the company.

My boss had another perspective. “How many other underperformers do we have on the team whom we’re simply hoping will quit?” he asked.

I …

I recently finished Mark Cuban’s book, How to Win at the Sport of Business: If I Can Do It, You Can Do It, and loved it. Here are some highlights and quotes from the quick, interesting and funny read (not to mention it’s only $2.99).

1)    Learn to sell. In business you’re always selling – to your prospects, investors and employees. To be the best salesperson put yourself in the shoes of the person to whom you’re selling. Don’t sell your product. Solve their problems.

2)    Customers want to see that you have other …

I recently had coffee with a former intern. He’s halfway through law school, has had a couple law related internships and realizes there’s no way he wants to be an attorney. Yet, he plans to finish school, because of his sunk costs — he’s already invested a year and a half and a lot of money to attain his degree (not to mention his parents’ expectations).

Continuing with his law degree would be the normal course of action. How many times have you sat through a movie you disliked, because you paid for the ticket …

The show Shark Tank, where entrepreneurs pitch investors for capital, has some great business lessons . . .

1) If you get what you ask for, take it. Mark Cuban offered one entrepreneur exactly what he requested. The entrepreneur then asked for more and lost the deal. No one likes to do business with someone who gets what he requests and then asks for more; it’s a sign of what’s to come in the relationship.

2) Networks matter. The Shark Tank investors bring huge value in their networks. Daymond John got the sticker guys …