Nothing turns off an investor more than when an entrepreneur comes in with a ridiculous valuation.
You only stay in front by coming up with ideas your new competitors haven't thought of yet.
When I was starting out, being a young entrepreneur was not fashionable. Parents would ask, 'When are you going to get a real job?'
Being born into poverty does not mean you are condemned to spend the rest of your life in poverty.
I understand that finance can be very complex.
I did something rather innovative that my competitors didn't like: I took out a full-page advertisement in the Yellow Pages that listed an office on the east side of Cincinnati, and another office on the west side, while every other heating/air-conditioning company had only one location and one phone number. I was the citywide company. In fact, our 'westside office' was just an answering service taking telephone message. From the start we appeared to be a big company.
One of the big problems entrepreneurs run into is they get too comfortable.
I have seen entrepreneurs ask for hundreds of millions of dollars on a concept and try to sell because of 'their passion' for an idea. If the idea is that good, why wouldn't I cut you out and hire someone who is just as passionate for much, much less?
By definition startups usually do not turn a profit.
Reality TV is a totally different animal than the infomercial world.
People must be realistic when evaluating their business.
Ive spent over 25 years in the television industry, the direct response industry. I met a lot of people and certainly learned the power of commercials and their brand building potential.
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