Through Motivation, Innovation and Execution
Farm Tank is devoted to bringing individuals and businesses the latest in innovation, motivation, and execution. Our goal is to make our network better by providing proprietary, thought-provoking, information and insight obtained from world leaders and influencers. We thrive on helping our followers develop and build a better process. We believe listening and learning from the best can help us make the complex more simple. At the same time, we believe it helps improve our business skills and helps improve our overall quality of life. If we can make better decisions, we can live a better life!
Great Advice For Any Entrepreneur or Investor
I received an email from Howard Lindzon the co-founder and chairman of StockTwits. It was such a simple and profound lesson that I want to share and pass along.
Here’s a lesson I learned in my early start-up days. It was told to me by a very successful entrepreneur and occasional angel investor, and I didn’t believe it at the time. Now I know it’s the Truth with a capital T.
“Ben,” he said, “I’ve got a lot of money and I’ve got a lot of rich friends. We could probably fund this idea of yours for a long time with the 3 F’s – family, fools and friends. But that would be a big mistake. You need to know if a professional VC will invest in this. You need to know if real customers will pay you money for this. You need to know if dogs will eat the dog food you’re serving up. Because if dogs won’t eat the dog food, you shouldn’t do this, even if you’ve got funding secured for years, even if you can fund it all yourself.”
Like I say, this didn’t make me happy at all when I heard it. I thought this was the angel investor’s way of blowing me off, and maybe it was. But he was absolutely right.
Entrepreneurs should fully expose their ideas to the steely gaze of real investors and real customers as soon as humanly possible.
And if your great idea dies under that steady stare, it dies.
Be grateful for that.
Why? Because the great tragedy for an entrepreneur is NOT a failed idea. You will have other ideas! No, the great tragedy for an entrepreneur is a zombie idea, a business that has no chance of growth and vibrancy, but is kept alive through some witch’s brew of too much friendly capital and too much misplaced hope.
Stealth mode? 99 times out of 100 it’s a crock, a smart sounding excuse for hiding behind a non-competitive curtain. Self-financing? Ditto. The courage of an entrepreneur isn’t risking your own money. Of course you’re doing that. That’s the necessary condition, not the sufficient condition. The sufficient condition is risking your identity in the very public arena of competition and capital.
It’s the Curse of Some Talent, when you’ve got an idea or a venture that seems much-misplaced to you, but isn’t quite great enough to make it in the cold cruel world. But you remain convinced it’s SUCH a good idea, you remain convinced that you really really do have the talent to make it big, and you’ve got the resources to keep going. That’s how one year turns into two. That’s how two years turns into ten, a decade of meh, all because you didn’t listen to what the world was telling you, all because you couldn’t bring yourself to put down the merely good idea, all because you never forced yourself to dream the NEXT idea.
Dabo Swinney's White House Speech is One to Remember
Dabo Swinney, the head coach of the Clemson Tiger's football team, gave an outstanding speech in the White House Monday night while celebrating his teams National Championship victory. Swinney referenced many great quotes, but something that really struck a chord was when he read from an IndyStar story written by Tyler Trent, the inspirational Purdue student who recently died at age 20. I think there's a lot to take away when it comes to perspective from what this young man said on that day. Click HERE to watch the full video. Below are a few of the best quotes I took away from this speech! I believe Coach Swinney is a terrific role model and excellent coach. I love his common sense approach and simple life lessons.
Quote 1: "Greatness is not your destiny. Greatness is not your right. It's a decision. Championships are won when the stands are empty. Champions are made when nobody's watching."
Quote 2: "Whatever you do, you do it with all your heart. It doesn't matter what you're doing, you do it with all your heart because when you do things with your heart you go above and beyond. You do the extra."
Quote 3: "What you vividly imagine, ardently desire, sincerely believe and enthusiastically act upon must inevitably come to be."
Quote 4: "My favorite part of this team and what I will always remember is they truly enjoyed the journey. In the end, that's what it should be about, finding joy in the journey of whatever it is we are doing."
Quote 5: “I want to close and I really want to give this perspective to our team, and really anyone who is listening, this is a quote, the whole college football world was captured by Tyler Trent. He was the Purdue football fan that was battling cancer. Probably saw that, and he just passed recently. And here’s what he said, he put out a quote: "Though I am in hospice care and have to wake up every morning knowing that the day might be my last, I still have a choice to make: to make that day the best it can be. Yet, isn’t that a choice we all have every day? After all, nobody knows the amount of days we have left. Some could say we are all in hospice to a certain degree. So why don’t we act like it? Where is your gratitude? With Christmas coming up, what are you thankful for? I had to write my will recently, and I’m just thankful I can give my family Christmas presents, maybe even for one last time. Let’s not forget that my doctors gave me three months to live almost two-and-a-half months ago. So why can’t we live grateful lives? Why can’t we make every day count like it’s the last?" So for this team and all you guys moving on and even the guys coming back, that’s what I would say, is go live and be great today, in order for your someday to become reality, you just got to be your best today.”