When I look at an established business strategically for the first time, I try to think of ways they could deploy their IP or brand in a different category. For example, the reason I have a signature sneaker with K-Swiss (even though I’m a businessman, not an athlete or a rapper) and the reason many companies have […]
A 2008 paper “How Unlucky is 25-Sigma”, describes an interview with Goldman Sach’s then-CFO David Viniar who referred to their flagship fund’s 27% loss in August 2007 as a “25 Sigma event”. The paper goes on to analyze this statement and quickly shows that a 25-Sigma event would take place once in 1.309e+135 years, a […]
Most entrepreneurs are ready to declare success when they get that first surge of traction with a real customer. This is a good sign, but they have no idea that the hard work of scaling the business is still ahead of them.
I started out in business as a techy geek, so I understand why technologists starting a new venture spend so much effort getting the product just right. Yet I’ve learned over time that building the business is all about having the right team members. Thus I’m frustrated when I see founders pushing off recruiting, or […]