People often ask me how I have the time to be working with so many charitable causes. When people perceive that I am intently focused on projects like the Crescent Moon Foundation, the Unstoppable Foundation and Junior Achievement, they are very curious about my reasoning. The reason is very simple: I always keep in mind that I would not be the person I am today if it were not for the experiences and opportunities along the way. The people I came across fostered my enjoyment of the pursuit of my potential, and I want to do the same for others around me.
If you are active on a social media site, watch television, listen to the radio or … well, if you’ve been conscious for the last two months, you have been bombarded by information about the presidential election. In fact, you’ve likely received so much information that you may be burnt out and ready to check out.
Known for his frumpy appearance, it’s not obvious at first glance that Warren Buffett is today worth more than $65 billion. Sure, he runs a multinational holding company Berkshire Hathaway and has a golden touch with stock picks, but Buffett prefers Cherry Cokes to booze, lives in the same house he’d bought in Omaha for $31,500 in 1958 and celebrated his second marriage by dining at a chain restaurant. He’s also pledged to give away the majority of his fortune during his lifetime.
Ideas are a resource in the entrepreneurial world, almost functioning as a kind of currency. The more ideas you have, and the better they are, the better you’ll fare against your competition, especially over the long haul. Of course, there’s one “anchor” idea at the crux of your business model, but don’t forget all the new ideas you’ll have to create from new products and new marketing strategies to how to maximize internal productivity and rebuild your infrastructure for the better.
Most people are conditioned to believe that knowledge is power, when, in fact, knowledge is only potential power. In my life, I’ve been blessed enough to have many meaningful conversations, yet the one I had this past week on emotional intelligence with a young woman, Ashley Zahabian, who I met at the entrepreneurial incubator that I recently launched, Fownders, really resonated with me.
Your entrepreneurial dreams can quickly become nightmares if you fail to acknowledge the legal realities that can make or break your new business.