The Profit Prophet

Chester Carlson? Whenever I think an idea or project will not make it, I think of Chester Carlson. Most people do not know who this person is, but he came up with the second greatest invention of the last 500 years (after the printing press); xerography; and he was not even a engineer. There should be a movie made of this guy: grew up dirt poor, lost his parents at a young age; worked his way through college, earning a degree in physics, and law school; invented xerography. Anyway, the reason I mention Chester Carlson is that even though he thought up xerography and demonstrated it at the Astoria hotel in 193 8 , the first copy machine (made by the Haloid Corporation who changed it name to Xerox) was not made until 1958! Twenty years later. During that time, there were many set backs, but Mr. Carlson believed that being able to print without water would be a “disruptive” technology, so he never gave up. There were many nay-sayers. Mr. Carlson got the kernel of an idea whi...

This is a question I have been asked dozens of times. I have been pretty fortunate and had a great deal of success as an entrepreneur in raising money, and many of my friends, colleagues, and entrepreneurs in waiting have asked me, what does it takes to get investment? Other that knowing someone or doing it once before (that is the easiest way), how can a “nobody” get somebody to invest in your bright idea? There are not a lot of things you can control when it comes to funding, but here are some tips YOU can do that seem to work for me, and hopefully for all those budding entrepreneurs out there as well! It’s all about the sizzle…you are selling smoke and smell, not steak! OK, being in Texas for most of my life (but not a native), I have learned a lot about cattle, steak and sizzle. You want to make their mouths water. When you are “selling” your idea, you have to think more like a televangelists and an engineer, CEO, or businessman. Essentially, you are selling somethin...

There are many things or factors that can determine a person’s success or failure, but one thing that cuts across EVERY successful person I have met or read about or studied is perseverance, persistence, stick-to-itiveness, and determination. As I say, "Nothing in the world can take the place of persistence. The desire and ability to press on has and always will solve the problems of the human race and divide those who achieve from those who might have been." Incredibly, this ONE characteristic is really what makes a true entrepreneur as testimony to these little factoids: Coca-Cola only sold twenty five (25) bottles in its first year of business! They grossed $50.0 and spent $73.96 on merchandising. But they kept on going and never gave up, and nowadays the sell more than one billion bottles per day! Apple Computer co-founder offered the computer design to Hewlett-Packard five times and was rejected by both HP and Atari (the giant at the time) for acquisition. A...

If you want to know the secret of hiring great people, use this list of criterion in differentiating the difference between happy people, and those who tend to be unhappy, and you will have success beyond your days. There are just 15 questions you need to ask. 1. LOVE vs. FEAR. People who are really happy, FEAR less and LOVE a lot more. They see each moment, each challenge, each person as an opportunity to discover more about themselves and the world around them. They understand the meaning of love, that it is a gift you give not something you try to hold on to, and just importantly, that you first love yourself before you can love others. “Fear less, hope more; whine less, breathe more; talk less, say more; hate less, love more; and all good things are yours.” --Swedish Proverb 2. ACCEPTANCE vs. RESISTANCE . Happy people understand that you cannot really change a situation by resisting it, but you can definitely change it by accepting that it is there and by understanding that th...

Nothing in the world can take the place of Persistence. Talent will not; Nothing is more common than unsuccessful men with talent. Genius will not; Unrewarded genius is almost a proverb. Education will not; The world is full of educated derelicts. Persistence, grit, and determination alone are omnipotent. The desire and ability to press on has and always will solve the problems of the human race and divide those who achieve from those who might have been.