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Thursday, January 30. 2014

Heard yesterday

"What I like to do is to start businesses. It can be any kind of business, I've done everything from restaurants to specialty wire manufacturers. Most fail, some struggle along, some do OK, and occasionally there is a home run. It's great fun, all of it."
Posted by The Barrister in Hot News & Misc. Short Subjects at 14:06 | Comments (8) | Trackbacks (0)

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"most fail". he's commonality in these failures. maybe he should specialize in what he's good at rather than flushing investor money.
#1 wirraway on 2014-01-30 14:12 (Reply)
Wirraway, your ignorance is manifest. This is not my quote, but it could be as I have started 15 businesses in 30 years and 2 failed in just the past year. My investors know my track record and are thrilled to have the opportunity to invest. There are thousands of people who still have jobs today due to businesses we started years ago. New innovative businesses are a trial and error process.
#2 Tom Kelly on 2014-01-30 14:31 (Reply)
I'd like to know more about starting a business (or businesses).

The mechanics, the important details, who to pay and how much.

It's easy to overpay for that sort of info, and that's a really bad first step to running a business.

But it does seem like a worthwhile challenge.
#2.1 DrTorch on 2014-01-30 14:48 (Reply)
don't let me get too far under your skin, I'm not talking about you.

the author of the quote boasts about a track record of "most fail". his words. check the original, I'll wait.
#2.2 wirraway on 2014-01-30 14:49 (Reply)
Most fail. One writer for the Wall Street Journal offered that the percentage of failures would be 75%.

http://online.wsj.com/news/articles/SB10000872396390443720204578004980476429190

The entrepreneur quoted is indeed a commonality in all of these failures. Other no less significant commonalities include a regulatory environment and a finance environment. More commonalities exist than are apparent.

It is a simplistic argument to assert that someone who has a track record of more failures than successes should "specialize in what he's good at rather than flushing investor money".
#2.2.1 Mark Wuertz on 2014-02-02 12:47 (Reply)
Most start-ups fail.

Ask any venture guy what their batting average is. Usually, pretty poor. They count on the few big winners to make money.
#3 The B. on 2014-01-30 15:01 (Reply)
Key-wrecked!

In my old industry, Telecom, I've known a number of guys that either got laid off or on the flip side, did very well. Both types tried to start their own related business.
Most of those businesses failed. The one that succeeded usually ended up hiring all the rest of the guys. Why? Because the guys that had the balls to try to make a go of it had better than average drive and talent. And all of them knew how to put in a full days work.
Of course that was back in the old days, triple layers of taxes, startup costs and regulations. Now, In the peoples Republic of Mass.
#3.1 John the River (Link) on 2014-01-30 16:05 (Reply)
the great fulfillment of my life has been starting and building businesses...but there's zero chance I'd start one in the US. When the President, Senator Warren, et al, condemned entrepreneurs with screams of "YOU DIDN"T BUILD THAT", they didn't do it because they're Kenyan Communists. They said that because they wanted to get political power. Old American values are all gone. Current American culture hates entrepreneurs (and I mean HATE). That is their right. But they can't avoid the consequences. The 143 employees of my new venture are all in London and Singapore (where people still enjoy working).
#4 jack gott on 2014-01-30 18:17 (Reply)

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