http://www.mo.com a casual hangout for the serious entrepreneur Tue, 27 Jul 2010 14:51:44 +0000 en hourly 1 http://www.mo.com/intellectual-property-can-you-use-it http://www.mo.com/intellectual-property-can-you-use-it#comments Tue, 27 Jul 2010 14:51:44 +0000 Brian Null http://www.mo.com/?p=5185 your property and what isn’t. Do you know when a patent, a trademark, a copyright, or a service mark are appropriate? These can be complicated, but are used to protect property, intellectual property. The issues surrounding intellectual property keep a lot of good (?) lawyers employed. However, with a bit of effort an entrepreneur can protect what is their legitimate intellectual property and prevent others from using it. This can take time and money and perhaps a trip to seek legal counsel. Intellectual property often gives an entrepreneur a competitive advantage. Protecting your brand name, logo, artwork, formulas, etc can build barriers to market entry for your competition. Protecting these can also maintain the value of your company. The center of all this is the U.S. Patent and Trademark Office [USPTO.gov], another free government resource. At the USPTO.gov website an entrepreneur can start by searching for possible business or product names to ensure they are not already in use. For example, there is no reason to name your product “IPOD.” A quick search through the Trademark Electronic Search System [http://tess2.uspto.gov/bin/gate.exe] shows that Apple Inc filed a protection application June 22, 2005. The name was finally registered July 20, 2010. Before choosing a product or company name a search through the USPTO office would be advisable. Thinking of establishing a great taco stand? Better not name it “Taco Bell” or offer “Big Bell Value Menus”. Taco Bell has both trademark and service mark protection. There are 4,601 trademark documents relating to “taco” alone! Big Bell Value Menu is protected…but you can have a “value menu”. So what’s the difference between a trademark, a service mark, a patent, and a copyright? According to the USPTO:

• Trademarks include any word, name, symbol, or device, or any combination, used, or intended to be used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others, and to indicate the source of the goods.
• Service marks (are a specialized type of trademark) include any word, name, symbol, device, or any combination, used, or intended to be used, in commerce, to identify and distinguish the services of one provider from services provided by others, and to indicate the source of the services.
• Copyrights protect literary, artistic, and musical works. [copyright.gov]
• Patents protect inventions, and improvements to existing inventions.

These are the tools to protect your intellectual property. But why bother? New (and existing) entrepreneurs often don’t have the resources to fight intellectual property issues. So make sure what you are using…can indeed be yours. In Columbia, Missouri we have a fantastic music/jazz club called The Blue Note. The Blue Note was started by Richard King in 1980. In 1985 the Bensusan Restaurant Corporation applied for and successfully registered the name, “The Blue Note”, for their New York based jazz club. In 1993 Mr. King got a letter from the Bensusan Restaurant Corporation asking him to refrain from using the name, “The Blue Note”. Mr. King disagreed and nothing happened in the name dispute until 1996 when King established a Blue Note website. Bensusan brought legal action against Mr. King’s The Blue Note for trademark infringement (Bensusan Restaurant Corporation v King 126 F.3d 25 (2d Cir. 1997)). However, after a significant legal battle the case by Bensusan Restaurant Corporation was dismissed [http://itlaw.wikia.com/wiki/Bensusan_v._King]. The logic behind the dismissal of the trademark dispute has a significant impact on entrepreneurs today. Without all the legalese, the case came down to market niche, Mr. King’s local Columbia, Missouri jazz club was not competing against the Blue Note in New York. Even with a web site with world-wide view-ability it was clear that Mr. King’s audience was Columbia, Missouri. It can cost a significant amount of time and money to settle a legal issue that could have been resolved at the business planning stage. Ensure that what you use, names, brands, logos, etc can be used…then protect this intellectual property appropriately. Also, just because a domain name is available doesn’t mean that it can necessarily be used as your company name. It would pay to check and see if the name is already someone else’s intellectual property even though the domain name is available. It’s easy…the government will help you do it [http://www.uspto.gov/teas/eTEASpageA.htm]. How often have you heard that before? Image: prozac74]]> http://www.mo.com/intellectual-property-can-you-use-it/feed 1 http://www.mo.com/entrepreneur-interview-dk-david-klein-thinktank-and-purposeinc http://www.mo.com/entrepreneur-interview-dk-david-klein-thinktank-and-purposeinc#comments Mon, 26 Jul 2010 17:22:22 +0000 MO http://www.mo.com/?p=5193 Mike Sullivan of Sully's Blog dk whose full name is Dr. David Klein, is one of the most well connected individuals in the Internet industry. In addition to being an Internet entrepreneur and founder of Purpose Inc. dk is also chiropractor in La Jolla, California. Purpose Inc. has always had as its motto, to help others achieve their purpose. dk's bio includes having been a professional skim boarder, a lifeguard in Laguna Beach, as well as far as he can tell, the second chiropractor to ever be on staff at a medical school which was UCSD. He is responsible for some of the Internet industry's most successful events including the annual poker tournament at Pubcon and the Purpose Inc. thinktank along with an impressive list of business contacts. He has done things as diverse as helping facebook with marketing their advertising product, helping Azoogle with public relations, set up national facebook campaigns, and monetize an e-mail list of close to a million people. thinktank is an invite only event for the top people in the Internet industry. This includes domainers, entrepreneurs, site owners, SEO experts, marketers, programmers, and more. Many of the top players attend this event. This year’s Think Tank event sold out before it even officially was promoted for sale. The event kicks off on September 17, in Del Mar, California. MO: With your background as a chiropractor, successful practice and experience in treating patients, how did you get so heavily involved in the Internet? dk: It started with a simple message to help humanity. I had written what I consider to be the easiest to understand materials ever written about what chiropractic is and how it works. Chiropractic is one of the greatest secrets that only about 5% of the population have any idea about. If someone understands the simplicity of chiropractic, their life can be made immeasurably better, but most people did not, and many still do not understand it. This started a long journey about literally having to learn the Internet from html and css, right up to the most sophisticated SEO, and mass networking skills to create massive links to the site. MO: What are some of the things you and Purposeinc do to help businesses acquire new customers? dk: We are really, really good at reputation management. Very simply if someone googles your product, or name, and you don't like the way the results look, contact us and we can help. Amazingly, we can do it without violating any of google’s T.O.S. with absolute confidentiality. We can also help with Facebook Advertising, and have done this for many companies. One of my favorite games that I have been playing lately, is helping companies with large lists of e-mails, figure out how to maximize the monetization of those lists. MO: thinktank appears to be a massively successful collection of the top names in the Internet industry. The "Who is coming to thinktank" list on Purposeinc.com touts some impressive names. When did Think Tank start, and how did the idea originate? dk: This is the third year. It started from the fact that me an the other hot shots would stand around networking in crappy places like halls of convention centers, and uncomfortable lobbies of mediocre hotels. Often I would be standing for hours with a bunch of millionaires with no food, and nowhere to sit. None of us ever go to the sessions unless we are speaking. I basically got rid of all the parts of conferences that the experts don't like, which is the conference! What was left was what they enjoy most, beautiful setting, other experts, lots of seating, sports, open bar, great food, and fun with no one around who would judge them. It is simply what you would have if you were to dream up your best possible get together with your best friends.]]> http://www.mo.com/entrepreneur-interview-dk-david-klein-thinktank-and-purposeinc/feed 5 http://www.mo.com/compete-on-value-not-price http://www.mo.com/compete-on-value-not-price#comments Sun, 25 Jul 2010 16:09:52 +0000 JC Holmes http://www.mo.com/?p=5040 What should be focused on is the value a business offers their customers. Look at zappos.com for example. Zappos is ready to bend over backward to make sure that the customer’s experience is guaranteed quality everytime. There are no hassles or risks when shopping with them because they offer free shipping, free returns, 24/7 customer service, and even a 365-day return policy. So who cares if they might be more expensive? I know that as a customer, I will be treated right and valued so I am more than ready to give them my loyalty. 37Signals is the same way only instead of offering shoes and shirts, they offer software as a service. 37signals makes sure that they offer complete customer service and focus their marketing efforts on explaining that they are here to make life easier. Focusing on low prices might initially seem nice for a customer, but if they get a $5 tee only to be treated like crap by your employees you can guarantee they won’t be back and they will not spread pleasant things about you. If you focus on the customer, they will be the best employee you ever had. Not only will they continue to buy from you, but they will also bring in their friends and family members to do the same. So don’t lower those prices to gain more customers, simply raise the value placed on your customers. If you do it, they will come.]]> http://www.mo.com/compete-on-value-not-price/feed 0 http://www.mo.com/business-tools-secondmarket http://www.mo.com/business-tools-secondmarket#comments Fri, 23 Jul 2010 23:14:04 +0000 JC Holmes http://www.mo.com/?p=5037 Second Market came on the scene in 2004, it has provided buyers and sellers with an opportunity to buy and sell restricted securities that otherwise could not be freely traded. Over 10,000 participants coming from hedge funds, mutual funds, global financial institutions, and corporations all come to Second Market to buy and sell bankruptcy claims, asset-backed securities, limited-partnership interests, auction rate securities, and numerous other options. In addition to creating liquidity in illiquid markets, three key components that make Second Market a great tool for an investor seeking to invest in second markets are:

• that it pairs buyers and sellers
• has a support team to help regulate transactions
• has free data and analytics to help you with your trade

Although Second Market it a great tool for those wishing to trade, you also need to realize the risks. Second Market specializes in the trading of illiquid assets. Illiquid assets are harder to get rid of than assets on a regular market so if you make a financial investment on Second Market, be prepared to sit on it for awhile. Also beware of imperfect information. Second Market does provide buyers with information, but remember that sellers in second markets don't have to abide by the same disclosure laws that sellers in the main markets do. They could be leaving out information that could cost you thousands in the end. Trading in second markets is always risky, but Second Market does make it a little easier and does provide its user with a feeling of safety. Just remember to do your research and be ready to sit on those investments for awhile. Otherwise, good luck.]]> http://www.mo.com/business-tools-secondmarket/feed 0 http://www.mo.com/is-it-time-to-sell-your-business http://www.mo.com/is-it-time-to-sell-your-business#comments Thu, 22 Jul 2010 13:26:57 +0000 MO http://www.mo.com/?p=5149 Selling a business is oftentimes a prime goal of a business owner. The “big cash out” can bring wealth, freedom, prestige and closure. It also can be one of the worst decisions you’ll ever make. How do you know when to pull the trigger? To begin, let’s look at the reasons why selling your site or business might come about. You’ve worked hard, and you’re tired. The wear and tear of launching any venture is taxing. With the Internet, “business” was redefined. I know starting a website to generate phone calls or leads has a lower barrier of entry than starting a local store. But a business is a business, and you get everything that comes with it. After a certain amount of time, you may get tired and lose focus. 20 employees, insurance, taxes, payroll and fighting with your competitors tooth and nail – tough stuff. Even if you have a business that’s killing it, the ‘sameness’ of your day-to-day or simply a desire for a new challenge can make you weary of the current venture. You want change. You just got a killer offer. Of course there’s more to it than deciding you’ll put a “For Sale” sign up and the buyers will come a chomping. Maybe things are going well, and you just got a call from an interested buyer. An offer was made. It’s for 7x your yearly profits. Killer! Time to sell? Well, that’s when the gut-check questions start to settle in. Do you love this business? Where’s it going, up or down? Sideways? When there’s an offer on the table, or even not, it’s key to project out where your business is heading and the direction of your competitive market. When we sold Show-Me Tickets, an overriding reason was Brant and Brock’s negative outlook for the ticket broker industry beyond 2005. There was consolidation, VC money, competition was fierce, margins were so-so, and legal changes might disrupt the business. The people who sell out at the top always look smart. But it can be hard to call. Bottom line is you know your business, and should always be considering where it’s going. Cashing out and moving on to something new isn’t bad thing. Where should you spend your resources – Time, Money. Looking at moving out of one business, and into another, involves careful consideration of your most valuable assets. Those are time, money, and talent. Could your team do better in another industry? Do you want to cut the staff from 20 to 5, and run lean at something new? Are you happy with your day-to-day? That last one is a big one. Many business owners will find that they have lost the love for their business. It’s partly what I mentioned above, about wanting a challenge and avoiding sameness. You can see and hear the down-to-the-core entrepreneurs never settling for one success or dwelling on one failure, or truly ever putting their head down and ignoring the world of opportunity out there. You want to drive a Maserati to the bar in Sao Paulo, and sip caipirinhas. This one creeps in if you’re making big money, and don’t want the responsibility or liability of the business anymore. That, or you just got that killer offer and all you can think about is Tupac saying “I’m seeing money but baby I gotsta get mo’!” Most business owners have a little slice of wanting to pimp it out and flash their success. Phat money can be fun. And you know, screw everybody who says that it’ll get boring after awhile. So? Then you can start another business, with all that money you just got paid. (Beware: cocaine, yachts, Las Vegas, buying domains while drinking, and bad real estate investments. Set up a separate account for that stuff.) You have no idea how this happened, and if you can keep up the charade. Not really joking here. A successful business or site usually takes a combo of a good idea, hard work, and timing. Sometimes timing, or luck, helps out in a big way. How did this happen? If you aren’t sure, signing those sell papers quickly and with a smile might sound like the best idea on the planet. Do it. There’s all kinds of reasons, and thoughts that stew together into the psychology of selling a business or website. It can be irrational – just look at how scattered the list above is. But it’s your business. That’s why you started it, to be in charge and make decisions like this. So, is it time to sell? If you’re considering it, make sure it’s for the right reasons, and remember what I said about that separate “fun” account. Keep enough for your next venture. You’ll be back and to the races again some day. (Next time, we’ll look more into smart ways to make sure you get the most out of a sale. Two words – investment banker.) Image: Refracted Moments™ ]]> http://www.mo.com/is-it-time-to-sell-your-business/feed 2 http://www.mo.com/entrepreneur-interview-elliot-silver-top-notch-domains http://www.mo.com/entrepreneur-interview-elliot-silver-top-notch-domains#comments Wed, 21 Jul 2010 14:27:33 +0000 MO http://www.mo.com/?p=5112 Mike Sullivan of Sully's Blog Elliot Silver is very well known and highly respected in the domain industry. Involved in domaining since 2003, Elliot stepped out of a successful corporate career at AIG in 2007 to focus on his own business of domain investment and development. Elliot is the founder of Top Notch Domains, LLC, which he started as a grad student at NYU. Later, in 2008, he founded Silver Internet Ventures, LLC, an Internet media company that currently has several developed web properties. Elliot also leads the award winning ElliotsBlog.com, one of the most popular blogs in the domain name industry. MO: Stepping away from a successful corporate career is a bold move and one that every entrepreneurial mind dreams of. What was it like to do that and what steps did you take to make it happen? Did you have a backup plan? Any regrets? Elliot: I had been with AIG for 2.5 years, and it was just my second job after graduate school. Although I felt that I was doing well at the company, I wasn't loving what I was doing (direct marketing management of insurance products). This was probably one of the key reasons I continued to pursue my domain business on the side. Just before I resigned in October, I had a couple of large deals lined up for the following January, and I knew just those deals could carry me for a year even if business fell off of a cliff for some reason. I had been making significantly more money with my business than I was earning at AIG, although the domain business (as with any new venture) has much greater risk. I figured if things didn't work out with my company for whatever reason, I could find another marketing position elsewhere after a year. I was ready to move on from AIG, and I knew the domain business would either be a stepping-stone to something else or it would be a new career for me. Luckily, things have been working out well, and I have never regretted my decision. I come from an entrepreneurial family, and I've always imagined that I would work for myself. I was really lucky to have discovered this business when I did, and I am very appreciative of all the advice that has been given to me over the years. MO: You have quite a number of moving parts in your business such as domain buying, domain sales, domain investing, developing, blogging, and more. When you're out at a party with the wife and someone asks "What do you do?", how do you answer that question? What type of reaction do you receive? Elliot: Your question is very funny because Karen and I were just discussing this the other day. It really depends on the crowd and the knowledge of Internet business. If I am with a tech/Internet savvy group or person, I will generally say]]> http://www.mo.com/entrepreneur-interview-elliot-silver-top-notch-domains/feed 7 http://www.mo.com/business-incubators-why-they-rock http://www.mo.com/business-incubators-why-they-rock#comments Tue, 20 Jul 2010 17:52:10 +0000 JC Holmes http://www.mo.com/?p=5044 National Business Incubation Association’s website today, and start looking for your opportunity.]]> http://www.mo.com/business-incubators-why-they-rock/feed 0 http://www.mo.com/entrepreneur-interview-jeff-booth-founder-build-direct http://www.mo.com/entrepreneur-interview-jeff-booth-founder-build-direct#comments Mon, 19 Jul 2010 18:10:16 +0000 MO http://www.mo.com/?p=5082 Quality Building Materials for Less Jeff is the founder and CEO of BuildDirect. Jeff’s previous experience was in the real estate and construction business, and has been President and CEO of BuildDirect since 1999. Jeff is a frequent speaker in North America to industry groups as well as a lecturer at The University of British Columbia and Simon Fraser University in Vancouver. BuildDirect is transforming the building industry by reinventing the supply chain. The company accomplishes this by partnering with manufacturers who benefit from outsourcing their sales infrastructure. BuildDirect has been able to reduce prices to buyers by up to 50% when compared to big box stores. BuildDirect has cut out all of the middle-men in the building materials business and passes the savings on to customers of all sizes. MO: First off, I want to say that I admire what you have done with BuildDirect. In a sense, you’ve built what embodies the first generation of internet business – transforming the way industries do business and leveling the playing field for customers of all sizes. You started in 1999 and have been working on this for over a decade now. In internet terms, you’re ancient (I mean that in the nicest sense!). Where did you find the inspiration, come up with the business model and how do you continue to stay relevant? Jeff Booth: Well first off, thanks for your admiration. The inspiration came when I began to look at the complexity of the building materials supply chain, and began to call into question what I eventually came to see as unnecessary mark-ups within it. When I say unnecessary, I mean unnecessary to our customer at the end of the phone, or a visitor to our site. The motivation to innovate is about seeing a better way. It’s been a long journey because any time an industry changes, there will be winners and losers. Fortunately, our customers and growth keep telling us that we’re on the right track. Re-fashioning our approach to the supply chain, simplifying it, and turning it on its head by using Internet technology to make it more cost efficient is really just a means to that end. We’ll stay relevant as long as we keep adding value like that, in whatever form that may take in the future. MO: I read an interesting post on your blog about using Twitter. You argue that using it symbolizes openness and trust (I am assuming trusting your employees). You don’t however mention the financial benefits. Do you think the value of such systems can/should be measured directly? What other benefits do you see in social media?]]> http://www.mo.com/entrepreneur-interview-jeff-booth-founder-build-direct/feed 1 http://www.mo.com/top-5-gadgets-for-the-international-entrepreneur http://www.mo.com/top-5-gadgets-for-the-international-entrepreneur#comments Sun, 18 Jul 2010 11:17:52 +0000 MO http://www.mo.com/?p=5066 D-Link Pocket Wifi Router By far, the most important gadget for the traveling entrepreneur. Allows you to share pricey hotel Internet connections without being billed for every MAC address you connect. I’ve used this same router for 2 years now, and never had any problems. Connections are always rock solid. 2) X-Mini II Portable Speaker Unfortunately, my ultra-portable laptop has poor quality speakers. Watching videos and listening to music is important to me, so I always bring along my X-Mini. This speaker packs a punch and its tiny! I especially like it because It recharges using a mini-USB (just like my BlackBerry). 3) VPN / Proxy Software An annoying thing when going abroad is that I can’t see USA targeted Google Adwords ads and SERPs are distorted. That’s why I pay for VPN / proxy services that let me tunnel back to America and surf the web as if I were still in the USA. VPN software is also helpful for watching Hulu and Netflix while abroad. 4) Android Phone or iPhone w/ Fring or Skype App The Skype app for iPhone is extremely valuable when traveling abroad. In my experience, it works flawlessly and gives you the ability to make cheap international calls over WiFi. The last time I checked, the only way to get Skype working on Android was using the Fring app. Nevertheless, my primary phone is still a BlackBerry with international roaming / data plan because I hate touchscreen phones. 5) Belkin Mini Surge Protector + Dual USB Charger This gadget is especially helpful in airports / lounges where power outlets are scarce. The convenience of being able to charge my BlackBerry + laptop is awesome. Plus, since there are multiple outlets, you can score easy karma points by sharing your powerstrip with other travelers.]]> http://www.mo.com/top-5-gadgets-for-the-international-entrepreneur/feed 1 http://www.mo.com/10-reasons-your-business-will-fail http://www.mo.com/10-reasons-your-business-will-fail#comments Sat, 17 Jul 2010 16:38:47 +0000 JC Holmes http://www.mo.com/?p=5035

You add no value: Easy, this is not a direct attack on you as a person. This only means that you are worthless if you really aren’t moving your company along or adding valued insight. If your business isn’t of value to consumers, then it is worthless. Start a business that is revolutionary; something that changes or improves a current product. Don’t start the same Joe Shmoe restaurant or retail biz, or you can guarantee failure.

You have no customers: If you are not meeting with potential clients, or seeing customers walk through your doors/ visiting your websites, then you are not making any money. Look below to see where this gets you.

You’re not making a profit: This is a no brainer. If you are not making any money, you will fail. Period.

You hate what you do: Don’t start a business that involves something you hate. That is just stupid. When you hate what you do, you are not going to spend the time and energy needed to get a business off the ground. You started a business to get away from the job, boss, and cubicle that you hated. Don’t pigeon hole yourself again.

You spend too much money: Not knowing how to spend money is one of the top reasons for business failure. If you are spending more than you are making, you are not turning a profit. Not turning a profit equals business failure. See #3 for review.

You don’t spend any money: When you are not intelligently spending money, you are often not taking risks, purchasing more merchandise, or hiring more employees. You generally spend money to gain growth (i.e. paying to get that great employee, restock shelves, redesign that website), so when you aren’t it probably means you are flat lining. Remember that saying, “you have to spend money to make money?” Well, it’s true.

You can’t delegate: You can’t do it all on your own. You will lose your mind, and waste precious time performing mindless tasks often leaving the larger, more important tasks undone. Delegation offers you the opportunity to invite new ideas to those performing tasks, while also giving you the break to focus on your business’ big picture.

You have no focus: If you can’t commit to your business, then there is not reason to start it in the first place. Owning a business takes commitment and an abundance of focus. You will have long days. You will have long hours. You will have to sacrifice. And you need focus to keep your head above water. If you can’t focus on the goals of your business, then you are most likely not giving it the time and attention it needs to succeed.

You have no mentors: If no one is willing to mentor you while you start your business, it usually means they saw the failure eons ago. A good mentor can help a business owner succeed by showing them good management and operations strategies. Without this guidance you could make potential fatal mistakes.

You are delusional: There are times when you just need to let go and call it quits. Believing that your business is going to change the world while money runs out the door and everything comes down crashing and burning around you is ridiculous. Not every business will change their niche, their consumers, or the world. Just face it. The business may not have been a good idea after all.

Image: Pho Fail]]> http://www.mo.com/10-reasons-your-business-will-fail/feed 4 http://www.mo.com/business-tools-google-voice http://www.mo.com/business-tools-google-voice#comments Thu, 15 Jul 2010 18:55:22 +0000 JC Holmes http://www.mo.com/?p=5046 Google Voice system. Pros

• Voicemail transcription. This is one of the coolest features Google Voice offers. With voicemail transcription you can easily skim through voicemails via email, via SMS, or directly through the WebApp.
• Listen to voicemails on your computer. Now, you can listen to voicemails during those annoying Pandora commercials, and still make it back in time to hear your next tune. No need to dial into your phone everytime you want to listen to a voicemail. With this feature, your voicemails will play over your usual media player.
• Call screening. It will hit the silence button for you, and alone is worth downloading the app. When someone calls you are immediately given their name and are asked how you would like to direct them. Pure bliss, I tell you. Pure bliss.
• Call recording. Pick up the phone only to realize this conversation is super important? With Google Voice you can record the phone call at any point in the conversation and look up the convo later online.

Cons

• The Number. Google offers thousands of available numbers to use and you can search them, but it's a local number that may not be near you and it's not toll free.
• It's Local. If you are establishing a business, it may be confusing to some that your local number is not necessarily the local area code for your town.
• Number Confusion. If you are handing out your Google Voice number to clientele, and then call them using your personal number, they may not recognize your number or raise questions about the number you are using. This is minor, but something to be aware of.

Overall, Google Voice is a unique tool designed to manage all phone-based aspects of your life, and provides business owners a way to manage their personal and business life in the same place while still offering an air of professionalism.]]> http://www.mo.com/business-tools-google-voice/feed 0 http://www.mo.com/entrepreneur-eric-borgos-is-well-known-for-the-sale-of-bored-com-for-more-than-4-million http://www.mo.com/entrepreneur-eric-borgos-is-well-known-for-the-sale-of-bored-com-for-more-than-4-million#comments Mon, 12 Jul 2010 13:57:43 +0000 MO http://www.mo.com/?p=5000 Mike Sullivan of Sully's Blog Eric Borgos is well known for the sale of Bored.com for over $4 million. Born an entrepreneur, he spent his childhood days turning hobbies into profits by collecting and selling coins and baseball cards. As a teenager, he had an interest in trading stocks and it was not unusual to find him reading the Wall Street Journal. In college, Eric ran a "976" phone line teaching people how to make money. After college, Eric stared a computer consulting business and soon moved into designing websites for others and then for himself. Impulse Communications, Inc. was founded in 1990 by Eric Borgos and was incorporated in 2000. The company runs over 300 developed websites and owns over 9,000 domains. The company's revenue comes from ecommerce sales, domain sales, advertising, and parking undeveloped names. Impulse Communication has been featured in several blogs and in the traditional news media as well. MO: Eric, the evolution of Impulse Communications, Inc. is impressive, growing from your post college computer consulting operation to the domain and website force we see now. Tell me about Impulse Communications today. Is it a one man operation, or do you have a staff? How are you able to manage 300 active sites and a portfolio of over 9,000 domain names? Eric: My company is somewhat unique, in that I plan never to work from an office no matter how big my business gets. I have everything setup to be as virtual as possible so I can work from home. At one point I had 15 people working for me from their homes in many different countries, yet I had never met any of them or spoken to them by phone, we just communicated by email. My mailing address is a virtual PO Box where a service scans all my mail online so I can read it, and I have a phone number where all my voicemails are translated to mp3 files (and also translated to text) and emailed to me. All of my company's bills are setup to be autopayed from my checking account/credit card and all my income is deposited automatically into my bank account. For the few companies that still pay me by check, my mail box service scans the checks and deposits them into my bank account for me. I even signed up for a new e-signature service today that allows me to sign documents (like domain name sales contracts) online so I don't need to manually fax or mail them back to people. All that being said, my business still requires a lot of work. Although I use several programmers, I handle everything else myself. I spend my first few hours each day just dealing with emails. There is always something that needs my attention, like a server that is down, domain name offers that need a response, paying money to workers, questions from programmers, changes that need to be made to a site, billing issues, etc. I also need to deal with all the general hassles of running a business, such as accounting, taxes, computer software and upgrades, calls from sales people, contracts and paperwork, legal issues, and more. Aside from when problems arise, most of my sites/domains run themselves. Much of my time is spent on new projects, like creating new websites or adding to my existing ones. In the past few years I have done a lot of work adding content to my sites Dumb.com and Adoptme.com, since I think those have a lot of potential. MO: You have had success with developing sites as well as selling domains. Which criteria do you use when deciding which domains to develop and which to sell?]]> http://www.mo.com/entrepreneur-eric-borgos-is-well-known-for-the-sale-of-bored-com-for-more-than-4-million/feed 0 http://www.mo.com/researching-the-business-plan http://www.mo.com/researching-the-business-plan#comments Fri, 09 Jul 2010 15:18:12 +0000 MO http://www.mo.com/?p=4977 So you’ve decided to investigate writing a business plan…where do you start. CHEAT! See what has already been done. Find business plan samples in the same industry you are interested in. While I don’t want to endorse any particular source available realize that they are everywhere. For example, Bplans.com provides a small database of business plans that you can edit (for a price) using their Business Plan Pro software. However, there are various free resources that are available. Two notable freebies are at CarnegieLibrary.org and ReferenceForBusiness.com. Be careful in reading the examples from any one site however. They are not your business. They do not serve your clients or customers. They do not operate in your marketplace. They don’t have your financial assumptions, income statements, or balance sheets. You cannot just put your name on one of these and open for business. So you’ve decided to do some homework. GREAT! First, homework requires some effort. With the internet, the effort is usually just a few keystrokes. The internet and your local library offer a ton of useful information that allows you adapt any business planning template to your specific market. The United States Department of Commerce’s Bureau of the Census conducts a lot of research on U.S. commercial and consumer markets. The information they collect is free! Use it! Their online source is [census.gov]. One of the most useful tools they provide is the American Community Survey. It provides fairly detailed data about a specific geographic market you might be considering targeting with your business. It provides data concerning income levels, home values, age, race, etc. This information can be extremely useful depending on the type of business you are thinking about. For example, if one was interested in a home repair business a simple entry of a zip code can reveal the physical characteristics of the housing units in that zip code such as age of homeowner, year built, vacancy rates, etc. This information allows the user to better focus marketing efforts on neighborhoods that might need more maintenance attention than others. A quick search of my zip code on this site reveals all kinds of information. For example, the median age is 33, younger than the national average. 13.5% have some type of disability status, much lower than the national average of 19%. 56% of the folks in my zip have some type of bachelor’s degree, over twice the national average (it’s a college town…GO TIGERS). Our median family income is about $61,000, about 20% above the national average. Again, some of this is useless trivia…but it can be a goldmine depending on what data you need to determine if your business is viable. Additionally, for an established business the census data can be drilled into down to the street level so you can truly target your marketing efforts on the demographic you want to reach. If you are trying to logically determine a good location for a retail business the decision should focus on revenue generation. In the past I have used vehicle traffic counts as one factor to consider. Traffic counts means exposure to your customers. Your state department of transportation’s website probably provides this data free too. All kinds of information is available. If you can’t find it on the internet it might be time to put the bagel and grande’ café latté away and head out to the library. You’d be surprised how great a good research librarian can be. We’ve got one in town that knows where to find any nugget of knowledge that has ever been collected for business research. If your local library has limited resources and subscriptions try a local college or university and ask specifically for the research librarian. Again, depending on what you are looking for you may want to try some good ole’ hardcopy library references such as:

• Susan Mitchell’s American Generations: Who They Are. How They Live. What They Think.
• American Incomes: The Demographics of Who Has Money.
• Cheryl Russell’s Best Customers: Demographics of Consumer Demand.
• Hoai Huong Tran’s Household Spending: Who Spends How Much on What.
• Lifestyle Market Analyst is a good data source of what people do in their spare time. It breaks down different metropolitan areas in terms of hobbies such as reading, fishing, hunting, gardening, etc.
• Encyclopedia of Associations is a listing of industry associations…and their websites. This is an invaluable tool to find detailed information about a specific industry.

The real work. While the templates for business planning are widely available you will still have to fill them in with your unique business pitch, strengths, opportunities, etc. This requires some effort. But once you’ve done your homework you will have a better understanding of your business niche, your competition, your customer, and, how to reach your customer. While the real work may take some effort it can save thousands of dollars in business mistakes and wasted marketing.]]> http://www.mo.com/researching-the-business-plan/feed 0 http://www.mo.com/entrepreneur-interview-ed-robinson-aptimize-ceo http://www.mo.com/entrepreneur-interview-ed-robinson-aptimize-ceo#comments Thu, 08 Jul 2010 15:06:43 +0000 MO http://www.mo.com/?p=4949 Mike Sullivan of Sully's Blog Ed Robinson specializes in designing and bringing to market software that builds business value for developers and IT professionals. He has developed specific expertise in making big sales to Fortune 500 companies. He has worked for major technology companies including Microsoft where he designed and helped market Microsoft Visual Studio, Microsoft Content Management Server and Microsoft SharePoint; and also for smaller companies through the start up phase. Ed is the CEO of Aptimize, a New Zealand-based company that develops and sells the Aptimize Website Accelerator (WAX). WAX is a software product that helps companies dramatically increase the performance of their websites and intranets. MO.com: Aptimize is a young company. Out of the box, you have a laundry list of huge and well-respected clients such as Google, Microsoft, Northrop Grumman, Fidelity, and on and on. How did you manage to land these giants? What is the secret of your sales technique? Ed Robinson: From the beginning we didn’t worry too much about building up automatic systems and things like that. We just connected with people. We e-mailed everyone we knew utilizing our networks. Anyone approaching our website, we offered to just talk to them to help them with any web performance questions that they had. People buy from people and from the beginning we’ve tried to build relationships rather than just sell and I think people sensed that we genuinely wanted to help them do better business online. Also, we developed a product that people needed, one that quickly developed a reputation for being the best at what it does – speeding up websites. The internet giants and Fortune 500’s tend to be well informed about the benefits of fast page load, for example when Shopzilla increased the speed of their website by 5 seconds it resulted in a 25% increase in page views, a 10% increase in revenue, a 50% reduction in hardware, and a 120% increase traffic from Google. The ‘big’ companies are constantly looking for ways to improve visitor experience, be more competitive, and increase their bottom-line – as we can see with the Shopzilla example, increasing the page load speed of a website is an effective way to do this So here’s how I pitch our product: We’re a software product. You download it, put it on your web server. It will immediately double the speed of your website with no code changes and no extra hardware, and that’s all it does. And so that’s very simple for people to understand, and some people will say, “I’m in the Marketing department for a company,” or the IT Engineer, and can instantly see how this can help their business - so you can see how simple it is. Here are three important rules – especially for a start-up company: 1. Have a very focused value proposition: Aptimize’s products instantly accelerate websites and intranets. 2. Be good at it: Our software works really well – a lot of our customers instantly see a reduction in load times of 50%. This is powerful 3. Love your customers. We work across the internet, but pride ourselves on providing better support than most companies you’d deal with locally. With these three rules you’re equipped to sell to small and big companies. MO.com: You were a program manager at Microsoft and then Intergen before being involved in Action This, a catalyst to Aptimize. How would you describe the difference in working for a large corporation to leading your own company?]]> http://www.mo.com/entrepreneur-interview-ed-robinson-aptimize-ceo/feed 0 http://www.mo.com/get-in-business http://www.mo.com/get-in-business#comments Tue, 06 Jul 2010 19:27:08 +0000 MO http://www.mo.com/?p=4868 Kevin Ohashi of Ohashi Media Dana Robinson is an entrepreneur, investor and a lawyer. He received his JD from The University of San Diego School of Law School where he graduated cum laude. Before starting his own businesses, he worked in Nevada focusing on intellectual property and managed some of the most well-known trademarks around such as Mirage and Bellagio. Today, Dana is a founding partner at Tech Law LLP, an IP law boutique in California. He also runs FreeLegalAid.com, a service and directory to help people assist themselves in legal matters. His latest venture is Get In Business! which is a resource center for budding entrepreneurs. Kevin Ohashi: You have worked as a lawyer involved with startups for quite some time. What sort of unique insights do you gain with your background that someone from say a technical or business background misses? Dana Robinson: I tend to bring that experience to the table, in a way that doesn’t just help a new business owner accomplish some task, like forming a corporation or drafting a stock offering or filing a trademark. What my background gives me is the ability to empathize with the people I work with. I’ve been in their seat. I try to think of what I didn’t know when I was in that position and to bring some cost/benefit thinking. A typical IP lawyer will get a client who wants a patent and they will do a very good job filing for a patent. I’m going to ask if you need a patent. Don’t spend the money if you don’t need it or if in the end it won’t do you any good. That’s a fundamentally businessy approach. Businesspeople tend to think that their lawyers and accountants and consultants think this way, but in reality they don’t. Service providers tend to think of their tasks individually, not as part of the whole. As a result, novice business owners overspend on services and don’t end up with what’s the best for their business. Kevin Ohashi: Your own startups seem to mirror your personal expertise in the legal field. Has the internet changed the way legal services are provided in a major way? Dana Robinson: Absolutely. The Internet has meant two things for me:]]> http://www.mo.com/get-in-business/feed 1 http://www.mo.com/partnership-and-development-structures-for-online-businesses http://www.mo.com/partnership-and-development-structures-for-online-businesses#comments Mon, 05 Jul 2010 13:55:10 +0000 MO http://www.mo.com/?p=4859 A Look at Partnership and Development Structures for Online Businesses I'm often asked how I prefer to structure a partnership with another business owner. After all, part of my 'MO' is to invest in existing online companies and/or domains and ramp up their marketing. When you’ve got the chops to make a website purr, the challenge becomes finding the places to put your time and energy. Not just the right niches and timing, but the right partnership setups and well . . . partners. Is it money up front? For equity? Buy the domain straight out or lease it with an option? Revenue share only? With traditional angel investing VC, most of us know the common deal structures and ownership splits. People tend to 'get' the concept of putting money into a business for a defined stake over time. But the internet world acts just as you’d expect when it comes to partnerships and the like – it’s more wide open. Here's a look at how you can approach a deal, and some pros and cons of each. Hopefully by the time I’m done writing it, I’ve figured out which option I like best. Cash Up Front for Equity. You invest cash in an existing web business in return for a % of equity. This is as traditional as it gets, like the angel deals of the world of yesteryear. Simple example. A site is making $20k per month. You agree on a value of 4x yearly revenue (~$1 million), cause it’s an up and comer. But it needs marketing help. So you drop in $50k for a 5% stake. I like this setup cause it's easy. I'd do it if the company already had a good base, like a kick ass software product that I was not going to do much to improve. It'd be a straight marketing push, apples for apples, that’s all I bring to the table and all i expect to earn on. Of course, I’d like this deal a lot more if we add in a bit of . . . Additional Equity Earned for Increase in Revenue. Instead of just a straight cash for equity trade, how about getting some ]]> http://www.mo.com/partnership-and-development-structures-for-online-businesses/feed 1 http://www.mo.com/checkfront-is-e-commerce-for-companies-with-schedule-and-service-based-inventories http://www.mo.com/checkfront-is-e-commerce-for-companies-with-schedule-and-service-based-inventories#comments Sat, 03 Jul 2010 16:27:58 +0000 MO http://www.mo.com/?p=4904 Mike Sullivan of Sully's Blog Jason Morehouse has been engulfed in the world of e-commerce for over 10 years. With a strong technical background as an asset, he has played an important role in the development of several successful e-commerce companies which include Netconcepts, Vendorama, and Revenuewire. While Jason has lived and worked in Toronto Canada, Auckland New Zealand, he now resides in Victoria, BC, where he has co-founded Checkfront, Inc. Founded in 2008, Checkfront, Inc. provides a leading online booking management system, based on a secure Saas (Software as a service) platform. Checkfront allows businesses to integrate the system into their existing websites within minutes, with no programming knowledge required and integrates with most popular payment gateways. Plugins for many of the popular content management systems, such as Wordpress and Joomla make adding Checkfront services simple and effective. MO: You have been self described as a "Technical Architect" and "Linux evangelist". Tell me a little bit more about what that actually means and why it's an important part of your success. Jason Morehouse: The title of Technical Architect was given to me at a previous company. I suspect it was a clever way to make sure I had nothing to compare myself to on the monster.com salary review, but it has stuck with me. I'm at my best when taking a concept and building it into a product from the ground up. I'm a geek at heart, but I also have a good grasp on what it takes to make a successful company. I’m more of a Linux enthusiast these days than I am an evangelist. I use to care a lot more that other people use Linux, but now I'm just happy I do. If you want to run your infrastructure on Windows NT, I say go for it -- just don't ask for my help when it goes to pot. And don't get me started on Windows Azure. MO: Linux is playing a huge roll in cloud computing and that is very exciting as a long time user. For Checkfront, Linux has allowed us to build a secure, scalable and distributed network at a low cost. You have an extensive technical background with some of the e-commerce businesses you contributed to. Checkfront seems unlike any of those, where did the concept originate? Jason Morehouse: In some ways Checkfront is very different than my previous companies, in other ways it's a natural progression. Checkfront is e-commerce for companies with schedule and service based inventories -- albeit significantly more complex to develop. Back in 2008 I was approached by a friend and former colleague Grant Jurgeneit. He was looking for some advice on implementing an online booking system for a friend of his with a travel / tourism based operation in Whistler BC. By that time I had been developing e-commerce applications for almost a decade and it was a fairly mature market. I was horrified at the backwards and cumbersome solutions that were available to companies looking to take and manage online bookings. Like good entrepreneurs, we said (somewhat naively) “we can do better than that”. Of course we did, but it took us over a year and a lot more work than we had anticipated. MO: A quick Google search revealed several online booking systems. What is it that differentiates Checkfront and places you as an emerging leader in the industry? What are some sample industries that are leveraging Checkfront and in what ways?]]> http://www.mo.com/checkfront-is-e-commerce-for-companies-with-schedule-and-service-based-inventories/feed 2 http://www.mo.com/internet-entrepreneur-peter-frank-collegeacb http://www.mo.com/internet-entrepreneur-peter-frank-collegeacb#comments Fri, 02 Jul 2010 14:21:35 +0000 MO http://www.mo.com/?p=4875 Mike Sullivan of Sully's Blog Peter Frank is a college student at Wesleyan University in Connecticut. He founded Sumdae, LLC, while still in high school. The business started on the premise of buying Internet domain names and reselling to end users at a profit. Peter now owns and operates CollegeACB.com. CollegeACB.com or "Anonymous Confession Board" is a controversial hot spot for college students, boasting upwards of a half million pageviews per day. Although originally created by two other students, Peter is behind the enormous growth of the site. CollegeACB.com is described as a web-based community for college students to voice their opinions on college life while remaining anonymous. MO.com: You obviously have a strong entrepreneurial spirit, forming a business while still in high school. What drivers, experiences or influences did you have at such an early age that positioned you where you are today? Did you come from an entrepreneurial family? Peter Frank: No one else in my immediate family line has been particularly entrepreneurial, but my parents have always supported me in every way they could. They had trust and allowed me to sign up for a Paypal account at thirteen. That freedom allowed me to start my first business with a friend (we sold Counter Strike admin privileges). From that point forward, I was always trying something new to make money. Eventually (around fifteen), I stumbled into domain names and websites and now here I am. I have a drive from within to be successful, and generating profits allows me to see my success concretely. Equally important to making money is the sense of satisfaction from beating competitors and/or the market. MO.com: You have been featured in countless blogs, newspapers and most impressively, TIME. Have you had any difficulty handling this rush of attention? What impact has it had on your day-to-day life? Peter Frank: I had my fifteen minutes years ago, so I know how ridiculous the media can be. It hasn’t really impacted me too much in my daily life, though the attention at times can be both exciting and aggravating. It is also quite frustrating when my quotes are taken out of context to make me look bad, but I guess that comes with the territory. I’ve certainly learned to become much more careful when talking with the media over the last year. MO.com: CollegeACB.com is clearly controversial. While some describe it as "practical and helpful", others describe it as "hateful and hurtful." How do you react to those that claim to be victims of online bullying or others who claim their reputation has been destroyed?]]> http://www.mo.com/internet-entrepreneur-peter-frank-collegeacb/feed 1 http://www.mo.com/the-myths-of-business-planning http://www.mo.com/the-myths-of-business-planning#comments Thu, 01 Jul 2010 15:13:36 +0000 MO http://www.mo.com/?p=4849 The Myths of Business Planning One of the biggest misconceptions about building a business plan is that an entrepreneur only needs one if they are seeking external funding. However, one of the critical aspects of starting a business is first determining its feasibility, marketability, and profitability. Many times, even “boot-strapping” a business would be better served if a business plan was in place. So why isn’t a business plan only written for the purpose of raising capital? In reality, the business plan is a process. While many entrepreneurs go through the mental exercise of planning their business, following a logical structure will ensure that key aspects of the idea are analyzed. While it may take time, it can potentially save money by minimizing the inherit risk in being an entrepreneur. The key is to view the planning process as just that…a process. The planning process encourages the entrepreneur to step back and take an objective view of the venture. What is gained? Primarily, the planning process identifies the ventures potential strengths, weaknesses, opportunities, and threats. Not only does it allow you to evaluate the venture but it clarifies the financial requirements and potential. Some of the more common mistakes made in crafting the business plan is to make it too long. Length matters. Anyone reading the plan wants to make sure that the entrepreneur can clearly and concisely describe what the venture is all about, how it will reach its target market, what financing is needed, where is it coming from, what/where is the competition, what advantage does the venture offer the customer, etc. Because entrepreneurs need to be very clear and concise about their idea/venture most collegiate business plan competitions start of as simple “elevator pitch” competitions. One of the more common competitions held at the Collegiate Entrepreneurs Organization’s national conference each year [C-E-O.org] gives students only 90 seconds to make their pitch. This is the amount of time you might be able to capture an executives attention with your idea! Another common error is to assume that there is no competition for the venture. If there is no competition then perhaps there simply isn’t a market. The business plan is also an opportunity for the entrepreneur to confirm that they have the necessary experience, passion, and skill to properly analyze and operate the venture. Finally, during the planning process many entrepreneurs do not make reasonable financial assumptions…which leads to erroneous expectations for the venture. Be honest with financial figures…most times, YOU are the primary stakeholder in the venture. Format of the Business Plan Typically, business plans will follow a structure that describes the exact nature of the business. This usually includes:]]> http://www.mo.com/the-myths-of-business-planning/feed 0 http://www.mo.com/the-5-cs-of-entrepreneurial-success http://www.mo.com/the-5-cs-of-entrepreneurial-success#comments Wed, 30 Jun 2010 14:53:10 +0000 JC Holmes http://www.mo.com/?p=4755

Commitment

Confidence

Creativity

Courage

Collaboration

Commitment No entrepreneur gets anywhere in business unless they are fully dedicated to what they are doing. Commitment is an entrepreneur's drive and clarity of vision that keeps them moving each and every day. Most are so committed to their trade that their incessant chatter about whatever they have their hand in will drive you nuts. Confidence I'll admit it. I come across as arrogant at times because I have confidence in the business I believe in. When all others laugh, I'm going to hold my head up high and persevere. No entrepreneur was told right off the bat that their idea was brilliant. They had confidence in their work, and never let the doubts of others push them down. Creativity Perspective is what makes an entrepreneur. They have to continually look at the world from a different angle to spot new needs, new markets trends, and ways to make old products and systems better. An entrepreneur's creativity is their lifeblood. Without it, they would just be another thoughtless consumer. Courage Courage and confidence seem to go hand-in-hand. An entrepreneur needs to have confidence to keep believing when all others don't, but they also have to have courage to push on when the money runs out and denial seems constant. An entrepreneur has to have courage to take financial risks, to walk up to Angel Investors, and to lay it all on the line to make their dream happen. No entrepreneur ever made it big being a coward. Collaboration Entrepreneurs are constantly looking at the bigger picture. They know what needs to be done and how to change it, but also know that they can't do it all themselves. Behind every great entrepreneur is a great hand selected team designed to optimize goals. If you want to be a successful entrepreneur, live by these words. Make them your creed. Post them on your fridge, on your blog, on your Facebook page. Some place where you will see them every day and remember what it takes to make it in this fast-paced consumer world.]]> http://www.mo.com/the-5-cs-of-entrepreneurial-success/feed 0 http://www.mo.com/an-entrepreneurs-key-local-search http://www.mo.com/an-entrepreneurs-key-local-search#comments Tue, 29 Jun 2010 16:10:05 +0000 JC Holmes http://www.mo.com/?p=4759

free – that's right. It's basically free advertisement

helps customer's find your location

provides detailed information about your business including contact information, hours of operation, and business specialties.

Customers tend to prefer to shop local, but the biggest issue with supporting local businesses is finding them. Big box stores have larger budgets for marketing, and can afford to put a sign up on every corner, flood mailboxes with direct mail, and place TV and radio commercials making them easier for local consumers to spot when they are looking for what they need. Consumers see their signs, and even if they would rather give to someone else – wind up walking through a big box store's doors because they don't know where else to go. Google's Local Search takes out the guess work for any potential clients, and leads them right to your business. All they have to do is type in what they are looking for, and bingo! They show right up to your front door.]]> http://www.mo.com/an-entrepreneurs-key-local-search/feed 0 http://www.mo.com/welcome-aboard-mike-sullivan http://www.mo.com/welcome-aboard-mike-sullivan#comments Mon, 28 Jun 2010 16:07:18 +0000 Brian Null http://www.mo.com/?p=4829 Infinite Designs, Inc., a website development and domain investment firm located just outside of Chicago. He brings over 15 years of corporate experience to the table, managing technology teams both on and offshore. Mike has a passion for generic keyword domain names and shares his experiences, as well as interviews with generic domain end users on his blog, SullysBlog.com. Welcome, Mike!]]> http://www.mo.com/welcome-aboard-mike-sullivan/feed 1 http://www.mo.com/why-the-founder-is-more-important-than-the-idea http://www.mo.com/why-the-founder-is-more-important-than-the-idea#comments Sun, 27 Jun 2010 16:32:09 +0000 JC Holmes http://www.mo.com/?p=4763

structures itself

makes its income

creates its set of core values

states its mission

Without a business model, you would essentially have a gathering of employees working for God knows what. That business model gives a company guidance and value, but in reality, a business model could lay all this out in the most eloquent and articulate manner and still fail. A business needs a passionate and hard-working founder to succeed. Every founder, to a degree, is passionate about their business or they would have never chose to start it in the first place But I'm not talking about the average founder. I'm talking about the founder whose passion for the business is so grand that it becomes infectious amongst employees. People who are more passionate, and who actually believe in the work they are doing, are more likely to promote a business in ways a solid business model ever could. A passionate founder:]]> http://www.mo.com/why-the-founder-is-more-important-than-the-idea/feed 0 http://www.mo.com/entrepreneur-book-review-the-4-hour-work-week http://www.mo.com/entrepreneur-book-review-the-4-hour-work-week#comments Fri, 25 Jun 2010 17:33:39 +0000 JC Holmes http://www.mo.com/?p=4767 The 4-hour Work Week by Timothy Ferriss This book is the epitome of standard American self-help-business-development-corporate crap. What? Ferriss' main theme throughout The 4-hour Work Week is to enjoy life now instead of waiting around for retirement. No one should have to spend the prime years of their life tied down to a job – and I think we can all agree with that. He tells readers that they should make their business or job work for them so that they don't have to sit in an office all day, every day. A business owner should set automation as their top goal while those who aren't the self-starters should seek out job opportunities that allow them to work remotely and at their own pace. I suggest that you stick with the original release of The 4-hour Work Week, but if you want to see more examples and studies of how business automation has worked for other business owners, check out the second version. The examples are solid and the information scattered throughout the additional 100 pages are worth reading for anyone just now considering escaping the confines of corporate America.]]> http://www.mo.com/entrepreneur-book-review-the-4-hour-work-week/feed 0 http://www.mo.com/business-tools-evernote http://www.mo.com/business-tools-evernote#comments Thu, 24 Jun 2010 18:51:39 +0000 JC Holmes http://www.mo.com/?p=4761 Features:

• Phone, Mac, and Windows approved
• 500mb at your disposal if you chose to pay for your account
• Free memberships also available, and just as beneficial
• Upload documents, photos, and voice clips
• Snapshot text and screens to save
• Tags – you can tag words making searching for whatever you want a piece of cake later
• Synchronization – Your account stores it all. So what you access on your comp will show up on your phone and vice versa.
• Memos – Are you that jerk that always forgets birthdays and anniversaries? Not anymore. Evernote will tell you before you fall to show up with flowers and a card on your anniversary.
• Twitter – You can pull things off Twitter to store for later...just magical

My biggest complaint? I can't figure out how to create different notebooks through my phone, but what do I care. I can get on my computer, log into my account, and put it in notebooks that way.]]> http://www.mo.com/business-tools-evernote/feed 0