Just skimmed The Startup Entrepreneur’s Guide To Risk Management: good piece. I always knew my background in risk management was an entrepreneurial asset, but it’s often little-appreciated in context. Tidbit: there’s a 35% chance you’ll
be killed by one of the survive all ten items you have a 90% chance of getting right.
Bud Caddell’s diagram gets it right; one of those images that easily substitutes for 1,000 words. Reminds me of the diagram I used to use to illustrate the ideal client: those in the center, naturally.
I’m thinking today about the benefits of having cronies. Not in the pejorative sense of the word “cronyism” but in the simple business-oriented sense of the term. Looking back over my career, I can spot a number of invaluable contributions from various friends and business acquaintances shared over a beer.
The value one can get from discussing business problems and ideas in an informal context with a few trusted colleagues can’t be overstated. This doesn’t have to be a meet-with-your-guru kind of thing, though sometimes it is done with a coach or consultant. But if you have or can find a few business owners or professionals like yourself to meet as peers and toss around ideas or pick away at challenging problems, it can be enough to keep you in the game when you seem to his a wall — and it can do the same for them as well.
The Shawshank Redemption was a great movie… it offers a number of lessons, and according to Business Pundit, it evidently can teach you a thing or two about Entrepreneurship. Good lessons in fact that entrepreneurs need to remember when they’re chipping away at a concrete confining wall with a tiny rock hammer. I think this must relate to Seth Godin’s new book, The Dip: A Little Book That Teaches You When to Quit (and When to Stick).