Ambition Today: Adam Besvinick Teaches The Art of Hustle and How To Break Into Your Dream Role
Venture Capitalist Adam Besvinick explains the value of pure hustle in pursuing his dreams of breaking into the Startup and Venture Capital industry. Recently named to the Forbes 30 Under 30, Adam has invested in several startup companies as Principal at Deep Fork Capital.
Adam Besvinick, Principal VENTURE CAPITALIST aT Deep Fork Capital
Venture Capitalist Adam Besvinick explains the value of pure hustle in pursuing his dreams of breaking into the Startup and Venture Capital industry. Recently named to the Forbes 30 Under 30, Adam has invested in several startup companies as Principal at Deep Fork Capital.
In episode 14 we explore where Adam came from and how that connects to where he is now. Adam started blogging on VentureMinded.Me years ago and created his own track record through taking ownership of his brand. He has always strived to be continually helpful and add value to others. Through that hustle he previously worked his way into a role at Lowercase Capital to learn from Chris Sacca. Afterword Adam was one of the early employees at Gumroad while going to Harvard Business School. Now Adam is Principal at Deep Fork Capital and has invested in several companies across the country, with a focus on New York City and Silicon Valley. We go over what he looks for in great startups, how he used self-marketing to break into venture capital, and also cover:
The influences of growing up around entrepreneurship.
The value of experiencing life abroad.
How to demonstrate your expertise in a given field.
Why self-marketing is important.
How Twitter can create real world connections.
How constantly being helpful to others, leads to opportunity.
His experience at Duke and Harvard.
The differences between Silicon Valley and New York City.
How being an Investor in New York City is beneficial.
What Adam looks for in startups today.
Exploring some of the Deep Fork Capital portfolio companies.
Ambition Today Question of the Day:
How important is networking?
Links from this episode:
Thank you so much for listening and applying these useful tips and strategies to your life! If you have a chance, please drop by and leave a review for the show on iTunes by clicking here. Also, who should I interview next? Please let me know on Twitter or in the comments. Do you enjoy this podcast? If so, please leave a short review in the comments below. It keeps me going…
Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android.
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Founder Institute New York
When Business Growth Creates New Challenges
The funny thing about growth is that it can be a double edged sword. As a founder it is your job to drive and create growth for your company. After all the hard work, eventual growth in your company is the result of over coming each early obstacle. But at the very same time growth can then immediately create new obstacles.
The funny thing about growth is that it can be a double edged sword. As a founder it is your job to drive and create growth for your company. After all the hard work, eventual growth in your company is the result of over coming each early obstacle. But at the very same time growth can then immediately create new obstacles.
This happens because growth brings with it additional challenges that your company may not have experienced before. On one side you should be celebrating that recent growth has led demand to increase beyond your wildest dreams. At the very same moment though your company is reaching the maximum capacity of your existing processes and current team capabilities.
This is one of the reasons entrepreneurship is a constant uphill battle. As an entrepreneur it is your job to keep problem solving new challenges over and over. Knowing this is one of the reasons we place such a high value on High Fluid Intelligence at the Founder Institute when evaluating new potential founders applying to the program. Can you quickly learn a rule set and apply it to solve a novel problem? With a constantly changing playing field, founders must recognize patterns and quickly adapt to survive.
The best founders have high fluid intelligence. They use it to quickly recognize the new obstacles growth has challenged them with, analyze, adapt and solve them. Ensuring that as the founder you are problem solving over and over is the path to increased growth and success for your business.
In order to prevent this repetitive cycle from becoming too daunting though it is important that throughout this process you make sure to remember to take a a brief moment to celebrate the wins as they come, or they may just quickly pass you by.
Tim Ferriss And Daymond John On The Power Of Being Broke
Every once in awhile I hear an episode of a show that is so good I feel compelled to share it. That happened last night when I listened to Daymond John of FUBU and Shark Tank interview Tim Ferriss on how to turn weaknesses into strengths. Daymond turned the tables on this episode of The Tim Ferriss Show and interviewed Tim about the power of being broke.
I listen to a lot of podcasts. Every once in awhile I hear an episode of a show that is so good I feel compelled to share it. That happened last night when I listened to Daymond John of FUBU and Shark Tank interview Tim Ferriss on how to turn weaknesses into strengths. Daymond turned the tables on this episode of The Tim Ferriss Show and interviewed Tim about the power of being broke. How to capitalize on a lack of resources and turn that into success.
The power of being broke forces people to be scrappy, which could possibly be the best single word to describe the best entrepreneurs. Some nuggets of wisdom to absorb from this episode include:
- Using empathy to attract mentors.
- How Tim overcame 27 rejections on his first book before getting his book deal for 4 Hour Workweek.
- Making sure you don't over burden potential mentors.
- Who makes the best business partners.
- How to separate yourself from the crowd.
- Why you should be nice to EVERYONE.
- Don't be afraid to admit what you don't know.
- Importance of putting yourself close to the action.
- Always keep your sleeves rolled up.
- Maintaining your Time, Health and Nutrition.
Work The Problem: Advice From An Astronaut
Last year I read An Astronaut's Guide To Life On Earth by Chris Hadfield. In it he talks about working the NASA strategy of working the problem. This very technique ended up aiding Commander Hadfield when he went blind in space.
Last year I read An Astronaut's Guide To Life On Earth by Chris Hadfield. In it he talks about the NASA strategy of working the problem. This very technique ended up aiding Commander Hadfield when he went blind in space. Here is an excerpt from Chris Hadfield's book that offers you a brief explanation of what exactly working the problem means is in his own words:
“Working the problem” is NASA-speak for descending one decision tree after another, methodically looking for a solution until you run out of oxygen. We practice the “warn, gather, work” protocol for responding to fire alarms so frequently that it doesn’t just become second nature; it actually supplants our natural instincts. So when we heard the alarm on the Station, instead of rushing to don masks and arm ourselves with extinguishers, one astronaut calmly got on the intercom to warn that a fire alarm was going off – maybe the Russians couldn’t hear it in their module – while another went to the computer to see which smoke detector was going off. No one was moving in a leisurely fashion, but the response was one of focused curiosity; as though we were dealing with an abstract puzzle rather than an imminent threat to our survival. To an observer it might have looked a little bizarre, actually: no agitation, no barked commands, no haste."
Chris Hadfield - Excerpt from An Astronaut’s Guide to Life on Earth
This work the problem NASA mentality of descending down one decision tree after another until you reach your solution is something I learned and practiced first hand during my time as a Fireman and EMT. The main reason I think the idea of working the problem has stuck with me so much over the years though is because it is so similar to entrepreneurship. With each problem you conquer there will be a new one that arises. And just like the the limited oxygen supply in space, with entrepreneurship you can be limited by the year, month, or week of runway you have left in your business.
Applying this work the problem mentality to problem solving in business can be extremely useful. I was solving a problem recently, but was not really making any progress toward a solution. I stopped, took a step back, and realized I found myself too fixated on the problem. I was analyzing the problem over and over again as if some magic answer was just waiting to reveal itself to me. It can be so easy to get caught up on the problem when problem solving. I wasn't working the problem toward a solution like I needed to be one decision at a time. While it is important to understand a problem you are facing, once you have extracted the main knowledge you need to move forward there is often very little value remaining.
During the New York City blizzard this weekend I watched The Martian with Matt Damon (I promise no spoilers). Being as it is a film about Mars filled with teams of astronauts the strategy of working the problem is a common theme throughout the movie. It reminded me of the lessons learned over the years. After the movie I revisited the problem I was stuck on and solved it.
Work the problem is a good tool to keep around, whether you are an astronaut or not. Remember, no matter what the problem is you are facing, whether it be with your company or in your life, take the time to understand the problem and then be done with it. Take your new found knowledge and focus it, descending one decision tree after another until you reach you solution. Work the problem!
Ambition Today: Justin Dombrowski Uncovers The Power Of Curiosity, History, Bitcoin, & Education In Life
Break out your pen and paper and get ready to take notes because you will be tested on this episode! Justin Dombrowski, Principal at Historiocity teaches some incredible lessons during Episode #11 of Ambition Today.
Break out your pen and paper and get ready to take notes because you will be tested on this episode! Justin Dombrowski, Principal at Historiocity teaches some incredible lessons during Episode #11 of Ambition Today.
One of my favorite quotes from this episode perfectly embodies Justin's strong curiosity from a young age:
"I was trying to figure what kind of things best explained the world that I was interested in."
Justin has more degrees than you can count from institutions such as Columbia and Oxford. The real question though is why? Listen in to find out what Justin thinks of his personal experience with the formal education he has received and how he compares it to the world of entrepreneurship.
Through all his education Justin has become an expert on world history. We talk about what the past can teach us and ask the question: does history repeat itself? In his post academic life Justin now applies his intellect as an expert in the world of Cryptography, Bitcoin, and Financial Technology. Episode 11 of Ambition Today is packed with the following:
The power of curiosity.
How to manage curiosity.
How the access to information is changing education.
The value of formal education in the modern world.
How to use history to understand today.
Does history repeat itself?
How core human behavior is the golden thread unifying history across centuries.
Who is Satoshi Nakamoto?
What is the future of Bitcoin.
How will Bitcoin impact the world.
The importance of living life.
Ambition Today Question of the Day:
What kind of education is most valuable?
Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android.
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Time Management For Entrepreneurs
I believe there is tremendous value in optimization. Increasing effectiveness even by a slight amount can have exponential effects as a result. Since taking a step back and thinking about planning my life in 2016 I have been working on ways to optimize life. One of those is time management.
I believe there is tremendous value in optimization. Increasing effectiveness even by a slight amount can have exponential effects as a result. Since taking a step back and thinking about planning my life in 2016 I have been working on ways to optimize life. One of those is time management, which I feel is something that can have a profound impact on most entrepreneurs.
I value time as the most important asset in my life. It is finite. The fact is that there is no Department of Time to print more hours, days or years like there is a Department of Treasury to print more money when the supply runs low.
There are 24 hours in a day. That is all you get. Make sure you spend each one of those hours wisely. We have been given the gift of time and it is our duty to make the most of it. Those 24 hours will be spent on either sleep, work, exercise, family, fun or free time.
I was originally going to elaborately detail my own day for this post but I have really liked the way Casey Neistat broke down his daily routine using the painted domino's visually in the below video. I have skipped ahead to the good part of the video (3:32) so you can jump right in. My routine in 2016 has been very similar to the image above. The major difference being that I swap vlog time with blog and podcast time. Also a night or two a week family time gets swapped for me with running event's in the evening around New York.
I like the balance that routine brings to the day in order to allow for more productivity in the long run. It also helps reduce burn out, which can be a real issue for entrepreneurs if not addressed. I look forward to continuing to maximize each day to the fullest potential I can. Let me know if you have a routine or any suggestions on maximizing the day. Feel free to put them in the comments below.
Learning How To Learn
Prior to getting my degree from the University at Buffalo in Cognitive neuroscience. which is the analytical combination of Neuroscience, Philosophy, Psychology, Linguistics, and Artificial Intelligence, I was pursuing a degree in Nursing. I had heard from friends and family that...
Prior to getting my degree from the University at Buffalo in Cognitive neuroscience. which if you don't know is the analytical combination of Neuroscience, Philosophy, Psychology, Linguistics, and Artificial Intelligence, I was pursuing a degree in Nursing. I had heard from friends and family that anesthesiologist made a decent amount of money and also helped people.
At the same time I was a Fireman and EMT with the Swormville Fire Company. I had spent my fair share of time in the back of ambulance's responding to emergency calls and delivering people to the Emergency Room. A degree in nursing seemed like a natural progression for the path I was on.
But something about it didn't seem right. I was too curious. I wanted to know more about the world than a degree in nursing was telling me. I began to search for another option. I remember asking around to see if any Universities offered a degree in "life". I wanted to know and understand all there was about the world and the people in it. Then I remember seeing the description for the Cognitive Science degree at UB. It was:
Cognitive Science is the study of how the mind works. It investigates thought and consciousness, the senses and emotions, the structure of language, cultural patterns, neural organization, and the computational analogs of mental processes. It examines how these areas interact, how they develop in the growing human, and how they appear in other animals.
It sounded perfect. While the range of knowledge Cognitive Science pulled together was awesome I especially loved the classes that focused on Neurology. I enjoyed them so much I actually made Neuro the core focus for the major. Finally I had found something that provided a deeper understanding of how people think which scientifically complemented my minor in Philosophy perfectly. I was beginning to form an understanding holistically of how the world worked.
Through my degree in Cognitive Neuroscience I learned how to scientifically form and ask the right questions. I learned how to apply the philosophy of logic to understand the answers I got to those questions I was asking. I learned how people think. I learned which of the neurons drives different instinctual human characteristics. From my minor I learned to appreciate the philosophical differences those characteristics can take across numerous cultures and ideologies.
While I didn't pursue a career in the Cognitive Science field after graduation the biggest take away I got out of my time at University was that I learned how to learn. I think this is one of the most important investments a person can make in themselves. The earlier you make this investment the more compound interest you will get as a result across your lifetime.
I did this before the time that I started taking an interest in learning about startups. Again, as a way to satisfy my intense curiosity for understanding the world and how new ideas manifest themselves into reality. Being armed with the tools to learn thanks to my degree was a massive help in learning and understanding the world of startups over the next several years.
The key take away here is that I think there are two types of learning. One, you can learn how to learn. This is a skill and ability that everyone can nourish and grow. If done first it sets a solid foundation for you to then go learn and have a complete understanding around a specialized field much better than skipping ahead to only learning a specialized field. It is a small distinction but an important one in my mind. Tim Ferris is a great example of this. He is a man who has perfected the art of learning how to learn and because of that he can pick up new things almost overnight and quickly understand them. His new series in the iTunes store, The Tim Ferris Experiment along with his books, are a testament to this. So next time you are struggling to learn and understand something new. Take a moment and think if there is some foundational work you can teach yourself first, that will help you with achieving your current goals. Learn how to learn.
Ambition Today: Rob Principe, Founder & CEO of Scratch On Partnering With Jam Master Jay of Run-D.M.C., The Future Of Music, And The Rise Of The DJ
Episode nine of Ambition Today finds us with the King of the DJ's, Rob Principe, the Founder & CEO of Scratch Music Group. We talk about meeting your hero's as a child and then growing up to become business partners with them. Also, the Future of DJ'ing, Music, and much more.
Rob Principe, CEO of Scratch Music Group
Episode nine of Ambition Today finds us with the King of the DJ's, Rob Principe, the Founder & CEO of Scratch Music Group.
Young Rob Principe with Run-D.M.C.
Growing up on Long Island as a child Rob loved music, especially Run D.M.C. One day the popular music group happened to sit down next to him on a plane as he was traveling to a tennis tournament. Afterword he took a picture with the group. Fast forward years later Rob had founded Scratch Music Group and after some hustle, Rob would show this very picture to Jam Master Jay of Run-D.M.C. in a greenroom at the Letterman Show in New York City while pitching him his vision. Jam Master Jay was in and together they co-founded the Scratch DJ Academy. I found Rob's story to be pretty incredible. During this episode we go over the history of Scratch as well as:
What is it like meeting your childhood hero's.
How Rob and Jam Master Jay of Run-D.M.C. co-founded the Scratch DJ Academy.
The importance of building credibility when building your initial startup's team.
Recognizing that defining inspirational moment in your life that changes the path your on.
How Aerosmith and Run-D.M.C. came to collaborate on "Walk This Way".
The moment when your startup becomes and feels real to you as the founder.
Converting your initial traction into a paid business model.
The importance of moving the chains over and over during the early years of your startup.
The future of DJ'ing and Music
How Music Festivals became so popular.
Ambition Today Question of the Day:
Do you think childhood plays a role in defining who people become?
Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android.
Links from this episode:
Who should I interview next? Please let me know on Twitter or in the comments. Do you enjoy this podcast? If so, please leave a short review in the comments below. It keeps me going…
Listen to this episode now:
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Careers Of The World's Best Founders
So you want to be the next Steve Jobs, Richard Branson, Walt Disney, Henry Ford, or even Colonel Sanders. Ever wonder where do the best founders come from? Well consider your self covered thanks to this new collection of careers of the world's best founders.
So you want to be the next Steve Jobs, Richard Branson, Walt Disney, Henry Ford, or even Colonel Sanders. Ever wonder where do the best founders come from? Well consider your self covered thanks to this new collection of careers of the world's best founders.
The journey to greatness is not always just sunshine and rainbows. It is a journey and along the way there are plenty of successes, failures, new ventures founded, and lessons to be learned. You hear some of those stories on Ambition Today. If you are wondering about societies late great founders of the past though, then here you go. Fleximize answers the following questions:
- How did the greatest entrepreneurs start out?
- What were their biggest successes?
- What failures did they have to overcome along the way?
Here are the answers all packed into one charted collection of the careers of 33 inspirational company founders, showing that there’s more than one path to success.
State of Startups Report: 2015
First Round Capital has released their 2015 State of Startups Report. They asked the question "What does it mean to be a startup entrepreneur in 2015?". The report was designed to share meaningful insights into what it's like to run a startup today.
First Round Capital has released their 2015 State of Startups Report. They asked the question "What does it mean to be a startup entrepreneur in 2015?". The report was designed to share meaningful insights into what it's like to run a startup today. The full report is above.
The key takeaways from the First Round Capital State of Startups Report 2015 include:
- Most think it won’t get easier to raise funding.
- 73% say we're in a tech bubble.
- No one has a clue about the IPO market.
- Women-led companies are more diversity focused.
- Founders see power shifting from entrepreneurs to investors.
- Hiring the right people and revenue growth top the list of founder concerns.
- Co-founder relationships change with age.
- Bitcoin is overhyped while autonomous vehicles are underhyped.
- Founders fear long-term failure, but not the short-term mistakes that lead to it.
- Elon Musk is the far-and-away most admired leader in technology.
If you are a startup founder let me know on Twitter or in the comments below what you think some of the biggest lessons learned from running your startup in 2015 is.
Ambition Today: Jeff Wald, Co-founder of Work Market, talks Harvard, NYPD, Venture Capital, Startups, and Mentoring
On episode eight Jeff Wald, Co-founder and President of Work Market and his incredibly charitable no shave Movember mustache join Ambition Today. "The only thing I know with 100% certainty is that it ain't going down like this." - Jeff Wald
Jeff Wald, Work Market
On episode eight Jeff Wald, Co-founder and President of Work Market join's Ambition Today.
"The only thing I know with 100% certainty is that it ain't going down like this." - Jeff Wald
Jeff Wald’s background is nothing short of impressive. He started at Cornell University and then went to J.P. Morgan. He then went back to school at Harvard for an MBA. After Harvard Jeff spent time at Glen Rock Group before going on to Co-found Spin Back. The wild ride of Spinback, his first startup, took Jeff to almost moving back home after coming close to running out of money. The answer was to rebuild the business which later ended up getting acquired. After acquisition Jeff went to Barington Capital Group, and finally to his current company where he is the Co-founder and President of Work Market. Did I mention he was also an auxiliary member of the NYPD as well? This is an episode packed full of insights:
Is getting a Master's of Business Administration worth the return on investment?
Should you start a company or get an MBA?
The value of spending time with Entrepreneurs.
How to break into Venture Capital.
Leaving a job in Venture Capital to start a new company.
How to attract high quality investors in your startups such as Fred Wilson from Union Square Ventures, Spark Capital, and Softbank.
The one question you should start every meeting with.
The four different types of conversations.
Differences between Advisors and Mentors.
The importance of giving back to others
The Ambition Today Question of the Day:
Who would win in a fight, Batman vs Superman?
Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android.
Links from this episode:
Work Market, Acquired by ADP
@JeffreyWald on Twitter
Why I Mentor by Jeff Wald in the Huffington Post
NYPD Blue -- What I Learned About Startups Patrolling the Streets of New York City by Jeff Wald in the Huffington Post
NYPD Auxiliary Officer program
Who should I interview next? Please let me know on Twitter or in the comments. Do you enjoy this podcast? If so, please leave a short review in the comments below. It keeps me going…
Listen to this episode now:
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Why I Mentor by Jeff Wald
This is a guest post from Founder Institute New York Mentor Jeff Wald titled "Why I Mentor" as was originally published in Huffington Post. Jeff has asked me to share the post and it contains some incredibly valuable insight on the Mentor / Mentee relationship.
Jeff Wald
This is a guest post from Founder Institute New York mentor Jeff Wald titled "Why I Mentor" as was originally published in Huffington Post. Jeff has asked me to share the post and it contains some incredibly valuable insight on the Mentor / Mentee relationship. My favorite quote from it is:
"I believe we have an obligation to help fellow travelers."
Jeff Wald is Co-Founder and President of Work Market, the leading enterprise-class platform for the management of contract and freelance talent. Jeff has a long track record as a successful entrepreneur across the technology and services landscape. He has successfully built and sold multiple tech companies, including SpinBack to Buddy Media, which was subsequently purchased by Salesforce.com for $800 million.
Why I Mentor
by Jeff Wald
A startup founder recently asked me a simple, yet startling, question during our monthly meetings. We have been working together for nearly two years, and as with all startups she has had her ups and downs. We have had all manner of conversations over the years and yet, in this one instance, her simple question floored me - "When I asked if you would be my mentor, why did you say yes?"
The first thing that surprised me was that she said "mentor" and not "adviser". I have the pleasure of advising many companies. This means that I meet with them every now and again to offer some thoughts on a discrete problem, or I make an introduction or two. However, my relationship here was different. I was more than an adviser. I was a mentor to her. We meet once a month and I know a tremendous amount about her business, where she has been and where she hopes to go. I am proud to be her mentor so I wanted to provide an honest answer.
After collecting myself, I explained that there were three reasons why I said yes, in no particular order of importance:
- She was the first to ask.
- Mentoring helps reinforce the lessons I'm learning at my own company.
- I believe we have an obligation to help fellow travelers.
She was the first to ask. She and I met at The Founders Institute (FI), an organization where I have been teaching for some years. The FI is the world's largest entrepreneur training and startup launch program with chapters across 50 countries. In each chapter "experienced" founders teach a series of classes to aspiring founders.
Many of the students I have taught over the years will email and ask if they can discuss their businesses. I am always happy to help, so I'll meet with them and offer candid feedback on their ideas. These aspiring founders frequently end our time together by asking to return when their plans have progressed. I would always say yes, but few have ever returned. Some never make any progress; some don't like the very direct feedback I am prone to give; some presumably just forget to follow up. So when asked why I agreed to mentor her, part of the answer was simply that she asked. I had time and she asked, so I said yes. If someone had asked before her, then I really would not have had the time.
Mentoring helps reinforce the lessons I am learning at my own company. I have learned a great many things on my entrepreneurial journey at Work Market: mistakes I hopefully won't repeat, important lessons to refer back to and valuable insights from colleagues. Mentoring this founder and hearing about her own struggles and breakthroughs has forced me to reflect on when we were at a similar stage as a company. Offering her advice and describing the opportunities we missed (we all miss many) helps to codify these hard-won lessons and prepares me for my next adventure.
We have an obligation to help fellow travelers. I have walked this tumultuous, crazy, startup path three times. It's one of the hardest journeys you will ever take. It will test limits you never knew you had and then demand you to push beyond them. So, when the journey ends, regardless of the outcome, you have gained invaluable experience. Pass it along. I can promise you this: whatever outcome you had, you didn't get there alone. You had co-founders, colleagues, investors, mentors, advisers, customers, and of course friends and family that all helped in sometimes small, but many times, immeasurable ways. You owe it to them, as well as to yourself, to help others who are embarking upon that similar difficult path. No one can make it alone.
If you have made it to the end of a startup journey, and if you have the time, stretch out your hand and help the next traveler. They will be grateful and you will greatly benefit as well.
And in the meantime, check out what Beatriz and her team at DADA have built.
Shahab Kaviani of CoFounders Lab, Breezio, and Hyperoffice on Ambition Today
On this episode of Ambition Today, I was joined by serial entrepreneur Shahab Kaviani. Shahab is most notably the co-founder of CoFoundersLab, a global organization helping entrepreneurs find their co-founder and launch lasting new businesses together.
On this episode of Ambition Today, I was joined by serial entrepreneur Shahab Kaviani. Shahab is most notably the co-founder of CoFoundersLab, a global organization helping entrepreneurs find their co-founder and launch lasting new businesses together. Previously he cofounded Hyperoffice and recently he is the co-founder of a new company Breezio, which is a collaboration platform for research scientist to accelerate discoveries through team science.
Today we discuss Shahab's journey through serial entrepreneurship. We explore some questions such as:
When is the right time to replace yourself as CEO?
What to do when Google decides to enter your market?
How to test your companies MVP offline without even building a website?
Who could be the right company to merge with?
The new Ambition Today Question of the Day ( Q.O.T.D.™ )
And More
Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android.
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Tim Ferriss and Naval Ravikant Teach You About Life, Startups, And The Future
You have to live in the now in order to be happy. The key to the American Dream is balancing work and non work. The Information Age is undoing the industrial revolutions. Company sizes are shrinking and we are trending toward more and more people working for themselves. Time is more scarce then money, make sure you spend it wisely.
If you haven't listened to Tim Ferriss and Naval Ravikant recently on the Tim Ferris Show, you should. You can listen to it here:
Get ready to learn about life, startups, and the future. Some of my favorite quotes from the conversation were:
"You have to live in the now in order to be happy."
"The key to the American Dream is balancing work and non work."
"The Information Age is undoing the industrial revolutions. Company sizes are shrinking and we are trending toward more and more people working for themselves."
"Time is more scarce then money, make sure you spend it wisely."
Tim Ferris on each episode, deconstructs world-class performers from eclectic areas (investing, sports, business, art, etc.) to extract the tactics and tricks you can use.
Naval Ravikant is the CEO and a co-founder of AngelList, an online platform helping you find a great startup job, invest in a startup or raise money for your own startup. Naval has invested in Twitter, Uber, Yammer, Postmates, Wish, Thumbtack, and OpenDNS.
Clark Dever of Heads Up Display Talks Wearables, Travel, and Elon Musk's Solar City in Buffalo on Ambition Today
On this episode of Ambition Today, I was joined by Clark Dever. Clark is the founder of Head Up Display, a visual notification system for workers in hazardous environments.
On this episode of Ambition Today, I was joined by Clark Dever. Clark is the founder of Head Up Display, a visual notification system for workers in hazardous environments.
Today we discuss how to travel the United States of America for only $600, the future of e-sports entertainment, and how to compete with Google Glass and Oculus Rift. Also, how do you grow a startup ecosystem out of a an industrial renaissance? Buffalo N.Y. may have the answer. Elon Musk's Solar City, ecosystem driving programs like Z80 Labs and 43 North, and affordable cost of living are some of the things driving Buffalo forward as a startup city.
Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android.
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Spotify Playlist: The Come Up, Music to Motivate
The Come Up: Music to Motivate is a continually growing collection of songs on Spotify with the intention of boosting entrepreneurial motivation
The Come Up: Music to Motivate by Kevin Siskar
is my continually growing motivational Spotify playlist with the intention of boosting entrepreneurial motivation when people need it most.
Over 7 hours of motivational Spotify music to help you grind through whatever dream you are pursuing. That means if you listen to "The Come Up" only a mere 1,282 times while working toward your goals you will have achieved that epic perfection milestone of 10,000 hours.
Casey Neistat's Startup Lesson
If you know Casey Neistat then you know in 2015 he has started doing a vlog a day. In vlog #112 Casey shares his new startup story about BeMe Inc and how he was in the middle of fundraising at the same time his child was being born.
If you know Casey Neistat then you know in 2015 he has started doing a vlog a day. In vlog #112 Casey shares his new startup story about BeMe Inc. and how he was in the middle of fundraising at the same time his child was being born. Check it out below and in my opinion if you want to consume the most important piece of advice Casey gives, go ahead and skip to 2 minutes 10 seconds.
The only thing in life that stands between you and everything you have ever wanted to do, is doing it - Casey Neistat
What Makes a Successful Entrepreneur? Circumstance, Genetics, and Perseverance
Recently Adeo Ressi, Founder of the Founder Institute, was asked, “what does it take to be a successful entrepreneur?”. In Adeo’s opinion, his answer was successful entrepreneurship is a combination of three things: Genetics, Circumstance & Perseverance.
Steve Jobs
Recently Adeo Ressi, Founder of the Founder Institute, was asked, “what does it take to be a successful entrepreneur?”.
In Adeo’s opinion, his answer was successful entrepreneurship is a combination of three things: Genetics, Circumstance & Perseverance.
Let’s go through all three.
Adeo Ressi
1. Genetics
The Founder Institute has completed social science testing on over ten thousand prospective entrepreneurs, measuring things like “Big 5 Personality Traits”, Fluid Intelligence, IQ, and more. The Institute then watched who became successful, and correlated back the measured traits that best predicted success, in a scientific process.
The traits that best predict entrepreneurial success are genetic, such as Fluid Intelligence and Openness. BUT, just because you have traits that MAY make you successful as an entrepreneur, does not mean that you WILL be successful. Similarly, just because you are tall does not mean that you are good basketball player.
In other words, you need the raw materials, but you also need other things.
2. Circumstance
Being in the proverbial “right place at the right time” matters a lot towards your ultimate success as an entrepreneur.
Timing is everything (..almost).
For example, Michael Diamant started iClips, a site exactly like YouTube, a few years before YouTube launched. iClips was a truly well-executed business, but the necessary bandwidth, camera penetration, and streaming technology adoption did not yet exist for it to gain massive traction. He was simply too early for the market.
Circumstances are not all market-specific, either. You can have perfect market-timing, but your personal circumstances might not be optimal. For example, you could have the best idea and timing while you are a high school student, and start to execute on that idea to the the best of your ability — but then a veteran entrepreneur does the same business with millions in venture capital and captures the whole market.
Some circumstances are in your control, and some are simply outside of your control, but most successful entrepreneurs will concede that some of their success is attributable to circumstance.
3. Perservance
You only fail in your business when you actually give up, so, in fact, no business would ever fail if people persevered.
When you look at the Founders of some of the most successful technology companies in the world, and there almost always were (and still are) times when the Founders simply refused to give up despite unbelievable problems, stress, and negative signaling
“Entrepreneurship is like eating glass and walking on hot coals at the same time” — Elon Musk
Elon Musk
An entrepreneur faces all of the debilitating problems of their own life, coupled with all of the personal problems of their team, as well as hostile operating environments, limited capital, stretched resources, no time, regulatory burdens, changing technology… the list is endless.
The loneliness and darkness of entrepreneurship is not discussed very often, but it is very, very real.
Those that persevere succeed. Those that do not, do not.
Entrepreneurial Spirit Is Driving Buffalo Forward
In recent years, much has been made about how the entrepreneurial movement is modernizing the American dream. Markets like San Francisco and New York City are home to some of the world's most recognizable startup success stories.
In recent years, much has been made about how the entrepreneurial movement is modernizing the American dream. Markets like San Francisco and New York City are home to some of the world's most recognizable startup success stories. And with good reason - being the top dog in a competitive market brings with it the advantages of recruiting top talent, visible press, and the ability to raise the innovative bar. But as billion dollar companies set up shop in big markets, a new generation of innovators is turning to midmarket cities to incubate their bold ideas. Cities like Buffalo, NY are making this possible. Buffalo is channeling its legacy of hard work - dating back to its heyday as a turn-of-the-twentieth-century giant - into a new push for entrepreneurial progress. Satish K. Tripathi, co-chair of the Western New York Regional Economic Development Council, and President of the University at Buffalo, perhaps said it best. The city is "open for business."
Taking a step back, Buffalo's innovative future is rooted in its time-tested work ethic. Last December, I reposted a video that discussed Buffalo as a city of firsts. From Frank Lloyd Wright to Theodore Roosevelt, the city boasts an impressive list of big thinkers with lasting impact. Of course, the city has experienced more than its fair share of setbacks. Following the 1950s opening of the Saint Lawrence Seaway, shipping and other industries moved elsewhere, businesses went vacant, and population decreased.
But today a number of trends indicate that the city is positioned for an entrepreneurial resurgence.
- A New Youth Movement - According to census data analyzed by the New York Times, from 2000 to 2012 the number of college graduates (ages 25-34) in Buffalo jumped 34 percent - more than Los Angeles, New York, Chicago, or even Boston.
- An Attractive Business Destination - A number of factors including access to an international border, a strong labor force, and low operations cost are gaining attention. Elon Musk's SolarCity made headlines last September with its announcement to commit 5 billion in Buffalo, while creating 3,000 new jobs. Beyond U.S. borders, a growing number of Canadian companies are also investing, leading to an even stronger startup corridor in the Golden Horseshoe - the densely populated region on the west end of Lake Ontario, stretching from Buffalo to Toronto .
- Renewed Sports Franchises - Not to be overlooked, Buffalo is also attracting new talent on the football field and in the hockey rink. The Bills and Sabres - arguably pivotal economic and emotional heartbeats of the city - are sporting new leadership with owners Terry and Kim Pegula and with the recent head coach hires of Rex Ryan and Dan Bylsma.
Within this movement, a number of newer companies face challenges of raising capital. To address this, organizations like 43North are incentivizing companies from around the world to incubate their ideas in Buffalo - with the potential to win up to $1 million. With support from New York State Governor Andrew Cuomo's Buffalo Billion initiative and the New York Power Authority, there is heavy commitment and high stakes in the organization, which last year received registrations from 96 countries and 50 states. The 11 winners from 2014 now share space in a new incubator at Buffalo Niagara Medical Center - specifically created to engage a collaborative entrepreneurial community.
As they wrap up registration this month, 43North wants to continue the momentum by focusing on quality global registrants to attract the best ideas the world over. This concept of exacting change through entrepreneurism is what's driving Buffalo forward. It's a bold venture for a city to bet on bright ideas and put them into action. But it's a critical step, with potentially high reward, in restoring the brightness to America's City of Light.