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Peter Thiel’s Advice For Entrepreneurs


wealthymattersHere are 8 tips for entrepreneurs from Peter Thiel ,co-founder of Paypal, entrepreneur,venture capitalist and hedge fund manager.

1. Do not sell your company too early.

2. Find your niche. Don’t try to revolutionize an entire industry like “health” or “energy” straightaway. Start with a project that helps a small group of people.

3. Make sure that the money that your company earns is re-invested in the company.

4. Talent is everything. Work with the best. If you are the smartest person in the room, leave the room.

5. Entrepreneurship is about resilience and resourcefulness. Be an optimist!

6. It’s not sufficient to be incrementally better than your competitors. Online, competition is global.

7. Work hard. But more importantly make sure you work on the right thing.

8. Combining two words works well for branding: face-book, pay-pal.

More About Tony Fernandes


wealthymattersIf you have just recently begun hearing about Tony Fernandes of Air Asia in terms of the new JV in India,and want to know a little more about him,here is an interview from Indonesia.It makes for interesting viewing and gives an insight into his mind.This could prove to be useful if you are trying to estimate how this JV will effect your airline stocks.Also there is much material for entrepreneurs to mine for nuggets to improve their own businesses. Read more of this post

Growing The Family Business The Kelkar Way


wealthymatters.comWhen the 640-crore SH Kelkar & Company (SHK) , a maker of specialty fragrance and flavour ingredients , into which US private equity giant Blackstone invested 243 crore in early September this year, inaugurated an R&D centre on September 12,its CEO performed the puja.Nothing unusual about this except that B. Ramkrishnan,the 56-year-old CEO, isn’t the owner of the family-owned unlisted business,but a professional.Kedar Vaze, the third-generation family member, in India’s largest fragrance and flavour maker, sat and watched, as the man he reports to, did the honours.

There is a clutch of Indian family owned businesses from the Daburs in the North to the Murugappa group in the South that have brought in professionals to manage their enterprises even as they step back as owners.In some cases,the next-gen family members may be being groomed to take over at the top from the professional once they are ready for the task. Read more of this post

Never, Never, Never Give Up – The Story Of Harland Sanders


wealthymatters.comHarland Sanders, better known as Colonel Sanders had a hard life and failed many times. His father died when he was five years old. His mother had to find any work she could, so she worked in a tomato-canning factory. Harland dropped out of school when he was 12.

Harland had many jobs, including: steamboat pilot, railroad fireman, insurance salesman, and farmer. His marriage failed; his wife left him when he lost a job. But he did not give up on life. He started a service station in which he cooked chicken dishes, country ham and steaks for the customers at the gas station and people liked the food so well that he started a restaurant. The restaurant did well for a long time. Read more of this post

Henry Ford On Market Research


wealthymatters.com Read more of this post

Rocket Singh – Salesman Of The Year


wealthymattersFeel like a movie over the weekend?Might I suggest Rocket Singh – Salesman of the Year? Here is a link to the complete movie http://www.hindilinks4u.net/2009/12/rocket-singh-salesman-of-the-year-2009.html

The movie is about how Rocket Singh becomes an entrepreneur.I watched this flick  a couple of years back when it was newly released and I remember liking it a lot.I hope to feel the same tonight.If you have not caught this film as yet I urge you to do so.It’s well worth the time

BTW I hear that these days it’s part of some b-school’s course work.So watch,have fun,learn and maybe feel a bit virtuous too.Ciao!I’m off to watch the movie!

Bob Parsons’ Rules


wealthymatters.com

Bob (Robert) Parsons is an American entrepreneur. He is the CEO and founder of The Go Daddy Group, Inc., a family of companies comprising three ICANN-accredited domain name registrars, including flagship registrar GoDaddy.com, reseller registrar Wild West Domains and Blue Razor Domains. Other affiliated companies include Domains by Proxy Inc., a domain privacy company, and Starfield Technologies, the business’s technology development arm.

I came across his 16 Rules for Success in Business and Life in General on his vlog http://www.bobparsons.me

1. Get and stay out of your comfort zone.I believe that not much happens of any significance when we’re in our comfort zone.  I hear people say, “But I’m concerned about security.”  My response to that is simple: “Security is for cadavers.” Read more of this post

Quotes From Dhirubhai Ambani


wealthymatters.com

Personally I admire Dhirubhai Ambani’s  way of not  letting  other people circumscribe his dreams.I believe that if a person can dream up something he/she can do it.It may take time and effort and persistence but its not impossible. Personally I believe dreams are worth fighting for because they are a representation of out truest self and out innate abilities.Anytime I have self doubts I find that reflecting on incidents from his life gives me courage.After all life has not tested me in the way it did him.And anytime anybody tells me that something is undoable in one lifetime I just tell myself to see how far Dhirubhai came in one lifetime.Following are some quotes from the great man.Use them to spur you on in life.

“Only when you dream it you can do it.”

“For those who dare to dream, there is a whole world to win!”

“I, as school kid, was a member of the Civil Guard, something like today’s NCC. We had to salute our officers who went round in jeeps. So I thought one day I will also ride in a jeep and somebody else will salute me.”

“I am deaf to the word “no”.” Read more of this post

Jack Canfield on Finding a Mentor


Nobody but a person who has already become what you want to be can tell you what you need to do to get yourself there.Here’s Jack Canfield on how to get the mentor of your choice.So all you would be ace investors , entrepreneurs and would-be billionaires here’s something for you:

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