No, there are a lot of family owned businesses, or at least there are here in America. Family is probably the strongest bond there is. When emotions like greed and jealousy arise, it’s easier to realize that you’re family. Family sticks together. — Originally posted on Quora. Leonard Kim is Managing Partner at InfluenceTree. At … Read more
Every single thing that has ever happened in your life is preparing you for a moment that is yet to come. When you win, what do you learn? Nothing. Except maybe how to gloat. Shove something in someone’s face. Have a huge ego. Think you’re king of the world. Stuff like that. Is that really … Read more
Threatening to walk away when your vendor is wealthy. Quite frankly, they don’t care if you leave. They’ll let you walk straight away. Personally, if someone threatened me to leave, I’d tell them I’m going to raise the prices, tell them they have five minutes to make a decision at the price we’re at now, … Read more
Failing to plan. Many entrepreneurs feel that if they build it, people will come. This isn’t “The Field of Dreams”. Failing to evaluate co-founders. If your co-founders cannot do their assigned tasks, or even worse, cannot be trusted, then your business is bound for failure. Working with friends. Friends are just that. Friends. Business and … Read more
Have an absolute deep understanding of your target market. Study them like the back of your hand. — Originally posted on Quora. Leonard Kim is Managing Partner at InfluenceTree. At InfluenceTree, Leonard and his team teach you how to build your (personal or business) brand, get featured in publications and growth hack your social media … Read more
My friend works in import and export. Several months ago, he decided to approach Tory Burch. He had a wire transfer made from his client out in Korea for $1mm as a deposit. He had $3mm in pending orders for Tory Burch items. He went to Tory Burch directly and said he wanted to become … Read more
By discussing it in public and not worrying about someone stealing it. People are too busy to steal your idea. They have their own lives, their own plans, and their own visions. They’re not just going to walk in and steal yours, unless they’re desperate. I posted a whole executive summary for a company I … Read more
Borrow a conference room from a friend who owns a business. Preferably in an executive suite of a building in your downtown. The more security clearance the client has to go through (signing in, verifying they have an appointment, ID checks, metal scanners, pat down, etc.) and the higher the floor the conference room is … Read more
Someone on Quora asked: How important is it for a cofounder to be excited about solving problems in their company’s industry? I’ve been asked to cofound a startup. The idea has a lot of business potential, the work would be interesting, and I work well with the other cofounder. But it’s in a space I’m … Read more
1. Go to Google. Type in Godaddy. Click on the 99 cent ad. Buy a web domain for 99 cents. 2. Go to One Dollar Hosting. Sign up for 12 months for $12. You’re at $13 now. 3. Go to fiverr.com. Find someone to design a logo for you for $5. 4. Design a website … Read more