“Entrepreneurship and startups are not one and the same. Many startups are not
entrepreneurial and much entrepreneurship is not about startups.”
Scaling up is vastly harder than starting up
It typically takes a decade or longer, not months or a couple years, to build a venture of value, with
any semblance of robustness and return. The few that pop through in a few years are by far the
The entrepreneur is almost always swimming against the current. There is no
explosion suddenly pushing him or her along
There are two distinctive views.
The first is the popular view: that entrepreneurs are people
who run their own companies, the self-employed or smallbusiness people.
The second is Joseph Schumpeter’s view that entrepreneurs
are innovators: people who come up with ideas and embody
those ideas in high-growth companies.
“the majority of the world’s wealthy entrepreneurs
acquired their riches by starting a business: 65%
in America, 42% in Europe and 52% overall.
Entrepreneurs tend to be highly educated:
45% of American self-made entrepreneurs have
advanced degrees, a sharp contrast with the early
20th century, when men like Henry Ford dropped
out of school to become tinkerers
“Without startups, net job creation for the American economy would be negative”
“A look at the age distribution of the
world’s 500 largest listed companies
showed that European ‘champions’
are generally much older than
American ones, let alone those from
emerging markets. “
“Strikingly, Europe’s corporate
giants included only 12 companies
born in the second half of the
twentieth century, against 51 in the
US and 46 in emerging countries; of
these, only three were created after
1975 in Europe, compared with 26
in the US and 21 in emerging
The first is the world's most mature
The second advantage is a tradition of
close relations between universities
The third advantage is an immigration
policy that, historically, has been fairly
A fourth reason for America's
Known as “J-Ro” around Facebook’s campus according to
sources close to the company, Rothschild was by far the
oldest person to work there when he started.
-- It was Drucker who introduced the idea of decentralization
-- in the 1940s -- which became a bedrock principle for
virtually every large organization in the world.
-- He was the first to assert -- in the 1950s -- that workers
should be treated as assets, not as liabilities to be
-- He originated the view of the corporation as a human
community -- again, in the 1950s -- built on trust and respect
for the worker and not just a profit-making machine, a
perspective that won Drucker an almost godlike reverence
among the Japanese.
-- He first made clear -- still the '50s -- that there is "no
business without a customer," a simple notion that ushered
in a new marketing mind-set.
-- He argued in the 1960s -- long before others -- for the
importance of substance over style, for institutionalized
practices over charismatic, cult leaders.
-- And it was Drucker again who wrote about the contribution
of knowledge workers -- in the 1970s -- long before anyone
knew or understood how knowledge would trump raw
material as the essential capital of the New Economy
"If you want me to do things only for ROI reasons, you should get out of this stock."
"In business a lot of things are, I call it, folklore.
They're done because they were done yesterday
and the day before. So what that means is if you're
willing to ask a lot of questions and think about
things and work very hard, you can learn business
pretty fast. It's not the hardest thing in the world."
“Throughout the years in business, I
found something. I always ask why you
do things. The answers you invariably
get is, ’That’s just the way it’s done.’
Nobody knows why they do what they
do. Nobody thinks about things very
deeply in business, that’s what I
“A company's primary responsibility is to serve
its customers. Profit is not the primary goal, but
rather an essential condition for the company's
continued existence and sustainability”
The need for "planned abandonment."
Businesses and governments have a natural
human tendency to cling to "yesterday's
successes" rather than seeing when they are
no longer useful
A belief in what he called "the sickness of
government." Drucker made nonpartisan
claims that government is often unable or
unwilling to provide new services that people
need and/or want, though he believed that this
condition is not intrinsic to the form of
“The most memorable stories in Hatching Twitter
almost invariably involve Dorsey, who rises from
his early programming days as an anarchist with
a speech impediment to a man who co-founds
two billion-dollar companies while styling himself
as the psychic heir to Steve Jobs.”
“It’s a difficult market to get into because all
of the credit history and information on the
SMEs is stored in the incumbent, it’s not
Research by the European Commission
shows that 85% of net new jobs in the EU
between 2002 and 2010 were created by
small and medium sized outfits. But British
business has long grumbled that getting hold
of finance is too difficult
the most important funding gap was
for amounts between £250,000 and
The number of public companies has fallen dramatically over
the past decade—by 38% in America since 1997 and 48% in
The number of initial public offerings (IPOs) in America has
declined from an average of 311 a year in 1980-2000 to 99 a
year in 2001-11.
Small companies, those with annual sales of less than $50m
before their IPOs—have been hardest hit.
In 1980-2000 an average of 165 small companies undertook
IPOs in America each year. In 2001-09 that number fell to 30
Venture Industrial Complex (VIC) -- a loose group of
venture capitalists, bloggers, mentors, advisors, seed
funds, accelerators, and conferences that feed the
American fascination with all-or-nothing
entrepreneurship for personal gain.
You need deep insight into the trends driving an industry and the needs of
customers in that industry, the stomach and nest egg to slog through years of
uncertainty, self-awareness to change when things aren't working, confidence to
surround yourself with people smarter than you are, and courage to be alone with
4. Sales Cures All.
Know how your company will make money and
how you will actually make sales.
1. Startup or Small business?
2. Scaleup is harder than Startup!
3. Drucker “focus on customer”
4. Don´t rely on government
5. Sales cures all
joehas at gmail
“The greatest pleasure in life is doing what people say you cannot do”
Walter Bagehot 1826 - 1877