Showing posts with label If at First You Don't Succeed. Show all posts
Showing posts with label If at First You Don't Succeed. Show all posts

Wednesday, August 27, 2008

Founders at Work: Stories of Startup’s Early Days by Jessica Livingston

I've really enjoyed Jessica Livingston's Founders at Work: Stories of Startup’s Early Days -- one of many library books I borrowed last month.

This book tells the story of startups like Firefox, TiVo, WebTV, Craigslist, Hotmail, Adobe, and others through interviews with their founders or creators.

Initially, it made me think of If at First You Don’t Succeed . . . The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers (click here to read all my posts on this book) in that both books seek to shed light on what makes entrepreneurs tick.

While Livingston interviews individuals who founded or created dot-com or other technology start-ups, Bowers talks with founders of small businesses from varied fields that include jam making, cosmetics, manufacturing and more.

The main difference in the book lies in the way each author organizes his/her book. Where Bowers organizes his book into chapters based on eight traits of entrepreneurs with stories from 40+ entrepreneurs sprinkled throughout the book, Livingston spends just her two-page introduction discussing the patterns of entrepreneurs and then spends a chapter on each person with an in-depth interview.

Call me crazy, but I much prefer the way Livingston organized her book. It is easier to follow and you learn more from each individual.

And, as you know by now, I love primary sources. so I appreciated how each chapter was an interview with a founder or creator of one or more start-ups.

Here are the patterns that Livingston found for comparison to the list by Bowers:
  1. Uncertainty that they were actually onto something big.
  2. Determination, especially to build things that work.
  3. Perseverance through uncertainty, isolation, and sometimes lack of progress.
  4. Adaptability and mental flexibility to understand what users/customers want and to change and develop their original idea.
  5. Empathy for users/customers.
  6. Desire to change the world and to keep building things.

Livingston doesn't assert this list as a steadfast rule (where Bowers does); she merely states that these were some of her observations from interviewing the 32 entrepreneurs featured in her book.

Back to reading!

Monday, August 25, 2008

If at First You Don’t Succeed by Brent Bowers


After reading If at First You Don’t Succeed . . . The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers (click here to read all my posts on this book), I've updated the list of the magic eight entrepreneurial traits:
  1. An aptitude for spotting and seizing opportunities that nobody else has noticed.
  2. Compulsion to be in charge, a gift for leadership, a strong belief in the importance of integrity, and a hypomanic personality. A "hypomanic is fast-talking, is witty and gregarious, and has a natural self-confidence that can make him charismatic and persuasive."
  3. A history of innovative activities and salesmanship dating back to childhood, usually in a family environment that encouraged that bent. Being a male with an absent father seems to help.
  4. A talent for improvisation and multi-tasking, a tolerance for ambiguity, and openness.
  5. Doggedness - fierce drive, energy, and tenacity (the combination of patience, persistence, and perserverance). Also, the ability to live on just four hours of sleep per night and the drive to work ninety-hour weeks.
  6. Lofty ambition, optimism, idealism, passion, and enthusiasm that borders on the delusional for a product.
  7. Unfailing pragmatism and a good eye for taking calculated risks.
  8. Self-confidence and a knack for "falling upwards" - viewing setbacks as opportunities.

Bowers also ends his book with these lessons from other entrepreneurs:
  • Know when to fold 'em.
  • Try harder next time.
  • Stick to what you know best.
  • Make pleasing customers your number-one priority.
  • Analyze what you did wrong.
  • Maintain your self-respect.
  • Keep a lid on spending.
  • Expect no sympathy for your snafus.
  • Don't assume that all publicity is good publicity.
  • Realize that success isn't as important as being in the game.

While I think both these lists are useful, these two quotes that Bowers used may sum up the entrepreneur in fewer words:
If an idea does not at first seem insane, it has no hope.
-Albert Einstein


Entrepreneurs are dreamers who do.
-Judith Cone


One thing that surprised me about If at First You Don’t Succeed was the number of other books mentioned throughout the book:

Of these, I've read The Monk and the Riddle and the The Plague (and I've been meaning to re-read The Plague and read some of Camus's other works) but will have to take a look at the others. Back to reading!

Wednesday, August 20, 2008

The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers


Still getting through the stack of library books I borrowed -- I'm about through reading If at First You Don’t Succeed . . . The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers.

In Chapter Four, Bowers concedes that he is attempting the near impossible with this book:
With the help of some nationally recognized experts on the topic, I am dissecting into a observable parts something that in reality can't be stripped apart: the human personality.

I feel like because the goal of the book was so ambitous, Bowers went overboard with his examples. Where five good stories would do, Bowers provides twenty -- leaving the reader feeling dizzy and overwhelmed. The book would be more successful if it focused on fewer entrepreneurs and/or was half as long as it is.

Here's a list of the interesting people featured in just the first chapter:
  • J. Robert Hillier, Hiller Architecture & Obit magazine
  • Greg Herro, LifeGem & Anything's Possible
  • Farnam Jahanian, Arbor Networks
  • Peter Amico, Airtrax, Martin Divisions Steel Products, American Consolidated Steel Foundations, Centurion Securities Services, & Titan Detective Services
  • Frank Landsberger, CRT Capital
  • Mark Hughes, Buzzmarketing
  • Josh Kopelman, Half.com
  • Sig Anderman, American Home Mortgage
  • Gary Doan, Intradyn, Transition Networks, & Neo Networks
  • Umang Gupta, Gupta Technologies
  • Timothy Mahoney, vFinance.com
  • John Heagney, Heagney Public Relations
  • Charlie Horn, Promirus Group & Affordable Medical Solutions and HealthTrans
  • Michael Huddy, Barrier International
  • Herbert Jian, US Import & Export Company
  • Cameron Johnson, SurfingPrizes.com, CertificateSwap.com, beaniebabywholesale.com, cheersandtears.com, myezmail.com, zablo.com, & trueloot.com
  • Alex Lidow, International Rectifier
  • James Poss, Seahorse Power Company
  • Karl Eller, Eller Media
  • Paul Brown, Metropolitan Pathology Laboratory Inc (MetPath) & HearUSA
  • Joe Macchia, Macchia General Agency & Early American Insurance Company
  • Kevin Plank, Under Armour Performance Apparel
  • Luke Visconti, Diversity.com & DiversityInc Magazine
  • Liz Ryan, WorldWIT
  • Richard Wellman, International Airline Support Group
  • Myke Templeton, Owensboro Christian Church

That's 26 people featured in fewer than 40 pages!

Some of the other folks mentioned:
  • Pete Newman, Gotham Software, Inc.
  • Kerry Sulkowics, Boswell Grups LLC
  • Lara & Lisa Helene Meiland, Lara Helene Bridal Atelier
  • Martin G Klein, Electro Energy
  • Laura Gasparis Vonfrolio, Revolution: The Journal of Nurse Empowerment, CPR Associates, Oh-la-la Caterers, & Education Enterprises
  • David Weistein, Chicagoland Entrepreneurial Center
  • Ross Levin, Accredited Investors, Inc.
  • Peter Gyenes, Ascential Software Corporation
  • Joan Schweighardy, GreyCove Press
  • Craig Aronoff, Family Business Consulting Group
  • Kirtland Poss, VisEn Medical
  • Nadine Thompson, Warm Spirit Inc
  • Jeff & Richard Sloan, StartupNation
  • Dot Smith, Pepper Patch
  • Scott Cook, Intuit
  • Jack Stack, Springfield Remanufacturing Corporation

The sheer number of anecdotes doesn't add weight to Bowers arguments; instead it makes his eight traits seem like arbitrary and that he's filling pages with stories so you won't figure it out!

Still, the eight traits appear to be a useful measure if you are considering going into business for yourself. And even if the nine to five lifestyle suits you best, you'll enjoy these inspirational entrepreneurial stories -- just as long as you can keep the names straight.

Here are some of the passages I have enjoyed the most:

From Chapter Three, Nurture vs. Nature:
So which is it that makes for a successful entrepreneur? Genes or family? Nature or nurture?

Not surprisingly, the experts take a nuanced position on the matter. They remind me a bit of Franklin D. Roosevelt's comment about economists: He wished he could find one with only one arm, because all the others he had met were forever saying, "On the one hand this, on the other hand that."

From Chapter Four, Turning on a Dime:
Vonfrolio wasn't averse to making exaggerated claims to get deals done. When she came home from nursing duty one night exhausted and decided to start a business, she wrote letters to E. F Hutton and Merrill Lynch, advertising herself as a CPR instructor and sprinkling her prose with made-up statistics about death rates from heart attacks in high-pressure industries.

A few weeks later Merrill Lynch called, and Vonfrolio asked her roommate, "Do you know anybody named Merrill Lynch?" It sounded familiar, but she couldn't picture the face. Then she remembered the letters. She arranged to teach a class two weeks later. The next day, E. F. Hutton phoned. This time, she was ready with the crisp announcement, "CPR Associated." When E. F. Hutton requested classes for 500 people right away, she said she was booked solid for several weeks but could set up an appointment after that.

Then the scrambling began. Vonfrolio took a two-day course to obtain certification to teach CPR. Refused a business loan by a male bank manager, she returned a few days later and talked a female manager into approving a $10,000 personal loan by saying she had just lost 150 pounds and needed $10,000 to buy a new wardrobe. She bought mannequins and other equipment, hired ten instructors, and got her business up and running with time to spare.

From Chapter Five, Tenacity:
Brown's training schedule demonstrates an elevated form of doggedness. To succeed, he says, you have to have patience, persistence, and perseverance. "Patience is discovering that you don't have the key to your house and so you wait for your wife to arrive. Persistence is circling the house and checking all the doors and windows to see if you can get in through one of them. Perseverance is removing the hinges from the door.

"That is the bulldog mentality," he says. "The entrepreneur has to have all three of those qualities."

And from Chapter Six, Delusions of Grandeur:
If you are thinking about starting a coffee shop or Christmas tree farm because you think it might be a rewarding way to make a living, you might have a great future as a business owner, but you aren't an entrepreneur. If you are planning to open a Dunkin' Donuts franchise, you may end up selling millions of doughnuts, but you aren't really an entrepreneur. If you are hoping to amass a stable of a dozen Applebee's restaurants, you might make some serious money, but that will not make you an entrepreneur.

Entrepreneurs have grand ambitions.

Looking forward to more!

Tuesday, August 19, 2008

If at First You Don’t Succeed . . . The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers


Still getting through the stack of library books I borrowed -- just read If at First You Don’t Succeed . . . The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers.

I've read a few chapters of this book and I have found it entertaining if not substantive.

Bowers starts out his book with a bold statement:
This is not an ordinary business book.

And I would agree. While I've read many articles that attempt to help a bright-eyed person with a business idea determine whether he or she should go ahead and start a small business, I've never seen a whole book devoted to this topic.

And it is certainly a worthwhile topic. As Bowers tells us of our "grassroots capitalist culture":
  • There are 24 million entrepreneurs in the United States -- that's 11% of the adult population.
  • Fifty percent of those entrepreneurs have started their venture as a side project and the other fifty percent devote their full-time attention to their venture.
  • Small businesses account for 51% of the gross domestic product (GDP) and two-thirds of new jobs.

The eight traits of entrepreneurs sound great but there's just simply no way to know if they really are the characteristics you need to successfully start your own company. Bowers certainly tries to prove the accuracy of his list of eight by devoting an entire chapter to each trait. And to prove his point, Bowers spends a paragraph to a page and a half on stories of successful entrepreneurs after successful entrepreneurs, each story embodying the spirit of that chapter's trait.

It is less than convincing.

Here are the magic eight traits, if you're curious:
  1. An aptitude for spotting and seizing opportunities that nobody else has noticed.
  2. Compulsion to be in charge and a gift for leadership.
  3. A history of innovative activities dating back to childhood, usually in a family environment that encouraged that bent.
  4. A talent for improvisation.
  5. Doggedness - fierce drive, energy, and tenacity.
  6. Enthusiasm that borders on the delusional for a product.
  7. Unfailing pragmatism.
  8. A knack for "falling upwards" - viewing setbacks as opportunities.

Still this business book is worth reading. The stories are inspirational (particularly those of the entrepreneurs who aren't widely known) and finding out if you've got these eight traits can't hurt -- even if Bowers doesn't convince you that his list is accurate.

Click here to read an excerpt.

Expect to hear more from me as I read more of If at First You Don’t Succeed . . . The Eight Patterns of Highly Effective Entrepreneurs by Brent Bowers.

Tuesday, July 15, 2008

More Library Books

I went to the library today to return a few books and as usual I left with six more.

Yup, after a three month hiatus, I've gotten back into reading business books.

I plan on skimming the last two books -- they seem more like how-to / reference books than like books worth reading for their literary value (click here to read the table of contents for The Art of Project Management and click here to read the table of contents for Persuasive Business Proposals and you'll see what I mean). Though Persuasive Business Proposals does seem like it'll have some practical advice.

The first book, The Wild Trees, is by the author of The Hot Zone: A Terrifying True Story (click here to read an excerpt of this dramatic true story of an Ebola virus outbreak in a Northern Virginia laboratory), one of my favorite books growing up. The Wild Trees is about the California Redwood Forest (with trees taller than 350 feet and some of them thousands of years old) and the primeval kingdom of plants and animals that only a handful of people have ever seen. Click here to read an excerpt or check out the author's website for more.



As for the remaining middle three, The Opposable Mind was published by the Harvard Business School Press (for what that's worth), the author of If at First You Don't Succeed (click here to read an excerpt) was the New York Times small business editor, and Founders at Work tells the story of startups like Firefox, TiVo, WebTV, Craigslist, Hotmail, Adobe, and others.

Of those, The Opposable Mind seems the most interesting -- with research from psychologists and profiles of several companies that have been successful in utilizing integrative thinking -- including Four Season Hotels, Procter & Gamble, and Red Hat.