Sukshma

Quote of the day on Entrepreneurial Judgment by Marc (pmarca),

You’d better not have a lot of doubts about what you are doing because everyone else will, and if you do too, you’ll probably give up.

Of course, an entrepreneur’s doubt avoidance is only a plus right up to the point where it becomes pigheaded stubbornness that interferes with her ability to see reality, particularly when a strategy is not working.

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I happened to come across this relevant post on on the value of business ideas.

Quote for the day: The most brilliant idea, with no execution, is worth $20.

“Ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.

Explanation:

AWFUL IDEA = -1
WEAK IDEA = 1
SO-SO IDEA = 5
GOOD IDEA = 10
GREAT IDEA = 15
BRILLIANT IDEA = 20

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I had no idea Shakespeare said this,

“Our doubts are traitors, and make us lose the good we might oft win, by fearing to attempt!”.

The founder of Mint.com encourages you to stay on track.

Nice quote from Larry Ellison to sum up this torrid week,

“There are two kinds of people in business; people who build products and people who sell products. Figure out how you fit into one of these two camps, or you’re toast.”

- Larry Ellison quoted on Found+Read.

Now I know why my head hurts when I find myself dealing with issues that have very little or no relevance to staying on track. If you are in a startup, such issues are plenty and tempt you every day. The raw environment of a startup requires, nay begs that you simplify your thoughts and focus on quickly setting and meeting goals.

Even if you are in the services industry and have an entrepreneurial mindset, focus on either one of the two things. Take your product seriously. That is the only way you will survive a startup later on.

For every brand and for every person, yesterday is irretrievably gone and tomorrow is worth a great deal.

- Seth Godin, on sunk cost and your personal brand.

Entrepreneurs are good at keeping their dream when everything about them is changing.

An Entrepreneurs’ job is to evolve the Chicken and the Egg at the same time. You can’t wait around for one of them to appear and then make the other.

I heard this one at an advisor’s meeting. Long after the meeting was over, the quote kept playing in my head, conjuring images of a forlorn Chicken and an Egg appearing out of thin air. Remember, the insight should not be missed.