I have a fascination with the novel by Arundhati Roy, The God of Small Things. It is that one novel which I remember while starting to read serious fiction. Of course, I went through the usual teen-romance, teen-detectives, et al before I outgrew them soon enough in my early days. This year, I decided to re-read her book and it took me a really long time to finish it.
For quite a while, I’ve been practicing minimalism. Sometime last year, I decided to experiment with the idea of “essentialism” instead of just plain minimalism — stick to the essentials but pick the best possibilities in it. I like to consider minimalism as one of many ways to essentialism. I re-read Joshua Becker’s book – Simplify. If you’re into minimalism and want to explore more, you should also watch, Minimalism: A Documentary About the Important Things.
My target for 2018 was to read about 50 books but ended up short at about 40. Some were re-reads and it was a good decision. Going forward, instead of trying to read more, I’ll experiment with re-reading good ones and going deep into them — less but more quality time with each book.
I also continued with the habit of including physical versions of the books that I read. That is one way to make my daughters learn and practice “reading books”. Reading on a Kindle makes them feel like I’m just looking at another screen.
I have lined quite a list of interesting books for this year.
If you’re planning to start a business or a startup, it’s valuable to learn about life and the flow of business from people who have navigated their own paths to success. Though it’s true, no matter who you learn from or what college you attend, ultimately, everyone has to make his or her own way to success. However, no one can make it without borrowing a proven effective strategy or two from someone else.
David Turner Morgenthaler died in June of this year after achieving great success with his venture capital firm, Morgenthaler Ventures.
Turner, known as a successful investor, entrepreneur and philanthropist will also go down in history for his instrumental roles in amending ERISA legislation and lowering the US capital gains tax to 28% from 49%.
Small Biz Trends contributor Scott Shane shared some of the valuable business lessons he learned from Morgenthaler over the years.
What Can Entrepreneurs, Startup Founders and Investors Learn from Morgenthaler?
On Startup Founding and Success
- Startup success is challenging. Most of the factors that contribute to a startup’s success aren’t factors founders can control. In fact, Morgenthaler equated startup success to, “making lightning strike the bottom of a swimming pool on a sunny day.”
- Startup investing isn’t a guaranteed money maker. Startup investments only produce returns about 10% of the time. Investors should be prepared to lose money often.
On Investing, Entrepreneurship and Business Strategy
- Successful investing can come from doing adequate research and knowing everything about a company’s management, their organization, their market and their industry.
- However, the most important element in the equation is the entrepreneur or management team. The right person/people can change organizational factors and create success. In fact, he felt most startups and entrepreneurial endeavors failed because the business owners and founders, (the people), made mistakes.
- Successful business heads gather in places where realistic success is plentiful. They leave dead places where new business and investment can’t flourish. This is why you see so many entrepreneurs in Silicon Valley.
- Intelligence is not the same thing as getting a lucky break and profiting from it.
- It’s not being an intellectual snob and discounting the input of everyone around you with a good idea; and
- Good ideas must also be provable. They must be possible. They must conform to the standards of natural laws like gravity etc.
While I was pondering over the most effective ways to pitch a business, I came across it’s this for that. The startup generators which generate one-sentence pitches can work, but not always. So, let me put this straight, if you need a startup, then all the basic stuff you need is MID or Money, Idea & Determination.
Many think that if the idea is good, people will discover it somehow and they can move faster with their business. Communication with the public is another important aspect. Though you have the best programmer in the globe, if communication to the outer world fails, the path to success is way too long. Pitching process is one of the most important steps.
If you think your gardening, cooking, photography, writing skills are more than just a hobby, then you are what is defined as – The Homepreneur. In the U.S there are an increasing number of home-based businesspeople, at an estimated 6.6 million home-based enterprises. These businesses are no longer considered less successful or respectful than big companies. In India, the rise of home enterprises can be traced back to telecommuting in the 1980s and increasing use of internet in 1990s. These businesses are also employing private sector workers, part-time workers, home-makers, and students, thus making a commercial space out of home. With the new smartphones, tablet PCs this home business trend has received tremendous encouragement.