Entrepreneurship is all about calculated risk. We can create strategic plans, implement repeatable processes, hire the top people, and engage with the best customers. However, the only way to grow to the next level is to bite off more than you can chew, and pray you don’t choke.
I know the feeling of biting off more than you can chew. Four years ago, Information Experts made the strategic decision to invest in a newly formed Joint Venture (JV) to pursue a multi-billion dollar Department of State program. The risk was ridiculously high but the possible reward was astronomical.
Selecting your networking communities; Top DC 7, best learning community, favorite online spots, best events
As a follow-up to my March 10th Washington Business Report segment on strategic networking (http://bcove.me/xuc1biiy), I’ve compiled strategies on selecting the networking communities that are right for you. I’ve also listed the top 10 networking communities, along with information on the best learning community, the best events, and my favorite online spots.
First, let’s look at five ways that will help you decide where and with whom your should spend your valuable time.
Imagine pitching your idea to 1,000 investors. Over and over and over again. A little insane, right? Not if you’re Seth Goldman, CEO and C-Tea-O of Honest Tea. When we think of Honest Tea, we think of a delicious beverage, and a wildly successful business.
Dig a little deeper into the roots of Honest Tea, and you’ll discover an entrepreneur who is forever committed to the mission of “changing the way people eat, drink, think and live.”
Seth shared the struggles of his early days with 300 business leaders at the sold-out ConnectPreneur Event in the DC region, architected by global serial entrepreneur and angel investor Tien Wong, CEO of Lore Systems (www.lore.net).
One of the most important strategic relationships a business owner has is with his/her banker. Yet so often, we treat this relationship as a commodity.
Switching banks is not something that I would recommend lightly. As veteran business owners know, the process is cumbersome, stressful, and time-consuming even under the best circumstances. However, sometimes you have to know when it’s time to make a change.
Today’s entrepreneurs view the world and the future through a different lens than that of current or past generations. If the conventional system won’t accommodate them, then they will build an unconventional system. That is exactly what they have done with crowdfunding.