9 Questions to teach entrepreneurs to do more than dream

I recently read in The Wall Street Journal an article authored by Ken Kuan, Founder and President of Torrey Hills Technologies LLC in San Diego, ‘Teaching entrepreneurs to do more than dream”. Kuan was pondering on the closing of the University of California, San Diego’s Moxie Center for Student Entrepreneurship. He pointed out that, although the UCSD Moxie Center was promoting entrepreneurship spirit, it was run like a charity. Not really a good example for startups! His analysis concluded that the UCSD Moxie Center had failed to teach the most basic survival skills for business: – understanding the concept of win-win – understanding how to forecast profits and losses Per Kuan, many U.S. business school graduates can’t create a realistic profit-and-loss statement. Sadly, the same failure to execute or teach these basics concepts also spread across small businesses, incubators, and other city and county resources. Many entrepreneurs start a business based on a trade or skill that they are expert at. However great their idea may be, the real art to building a sustainable prominent business lies less in the idea itself than in the process to make your idea relevant! The two basic principles referenced by Kuan are the foundation upon which this process is being built in order to yield exponential growth. Understand the concept of win-win A win-win situation is an instance in which both parties that participated in the transaction come out feeling satisfied that they got a fair shake, says Kuan. So how relevant is your idea? Why should anyone care about it? Entrepreneurs too often have a narrow focus on their own perception...
Taking your choices to heart

Taking your choices to heart

“Start where you are, use what you have, do what you can.” ~ Arthur Ashe Look at all the tools and resources you DO have around you. Between libraries, SMARTphone, mentoring programs, brain trust, etc., there is really no shortage! Spending more time dreaming about your goals or focusing on your obstacles rather than taking actual steps, won’t get you closer to achieving your objectives. Take your choices to heart!...