"It is not the people panning for gold that make money in a gold rush, but the people that sell the picks and shovels."
This quote, or some version of it, has stayed in my mind since I first read a volume about early California history a couple decades ago.
Large scale industrial enterprises are extraordinarily difficult to start, and unless you have massive capital or have been born into a family business, they are only marginally more profitable than buying state lottery tickets.
I have two friends that have started reasonably successful businesses and are still young.
The first - http://www.mandalah.com/
The second - http://www.cticonnect.com/
How did they do it?
The first one, founded by a Brazilian friend, has 2 qualities - his creativity/charisma/intelligence, and his family connections in Brazil which I suspect were important at ground floor stage
The second, has everything to do with hard work combined with intelligence. This was a kid I knew would be successful in university. One thing I remember is that at 19 years old he had a detailed excel spreadsheet dividing up his time and planning ahead for months - his time management skills were truly superior.
Also, you will note that both of their businesses service other businesses, providing them advice, or selling them the tools they need.
This quote, or some version of it, has stayed in my mind since I first read a volume about early California history a couple decades ago.
Large scale industrial enterprises are extraordinarily difficult to start, and unless you have massive capital or have been born into a family business, they are only marginally more profitable than buying state lottery tickets.
I have two friends that have started reasonably successful businesses and are still young.
The first - http://www.mandalah.com/
The second - http://www.cticonnect.com/
How did they do it?
The first one, founded by a Brazilian friend, has 2 qualities - his creativity/charisma/intelligence, and his family connections in Brazil which I suspect were important at ground floor stage
The second, has everything to do with hard work combined with intelligence. This was a kid I knew would be successful in university. One thing I remember is that at 19 years old he had a detailed excel spreadsheet dividing up his time and planning ahead for months - his time management skills were truly superior.
Also, you will note that both of their businesses service other businesses, providing them advice, or selling them the tools they need.