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July 8, 2008
Since launching MarketingSavant (my social media/digital marketing consulting company) earlier this year, I've been looking at a number of ways to grow the business, outside of hiring people. By growing the business I mean simply the cash base or revenues from the organization. I was caught off guard when another local consulting business owner asked me "so, what's your exit strategy?" Wow, I just kicked this thing off, what do you mean "exit strategy". Of course, I know exactly what he means, but I'd never really given it that much thought. When you're an entrepreneur or an intrepreneuer (someone with an entrepreneurial spirit inside the corporation), you need to have your own exit strategy. For me, I've chosen to pursue an 'education in investing' strategy to help grow my cash reserves while I grow the business. Yes, I know, the market isn't exactly doing well, but that's precisely the time to get in. I look at the stocks and funds that I'm investing in now and thinking back to when I graduated college in 1999... if I had invested even a modest sum then, I'd be doing quite well now. Which brings us to the one thing that I think investing and marketing have in common (I'm sure there are others...but this one is really important... Faith in the future. As marketers, we're always marketing to the future, with faith in that marketing campaign and it's ability to deliver future value. As investors, we're buying stocks and funds with faith in the company's ability to grow into the future. Marketers and investors unite! Doom and gloom does not serve you...it's the faith in the future that keeps both of us afloat and in business. [Inspired by Kevin's post on 'cracks in the retirement nest egg'] June 26, 2006
Paul Graham has another brilliant and lucid essay on the genius of startups and business ideas at the margin. ...great new things often come from the margins, and yet the people who discover them are looked down on by everyone, including themselves. I really can't say that I ever created a great or long-lasting business, but the most fun I've ever had in business (including now) has been in the businesses at the margins. My first and only 'startup' was my bicycle shop in the 'margin' of the garage of my parents' business. It was actually a highly profitable enterprise that was actually the only bicycle shop to serve rural Kewaunee county, WI, including service contracts with the high schools and it's own charity ride and junior mountain bike team. Not bad for something that was built in a marginal space, with marginal funds serving a marginal market offering marginal services and selling marginal brands. Read more of Paul's essay. It's worth a few minutes out of your day. (via Fred Wilson) February 20, 2006
Stowe Boyd on Advisory Capital
Reminded of an SNL skit with Mike Meyers during a Scotland bit during the Olympics
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