You Won’t Make More Money By Selling Your Time

The 5 Step Business Model of the Rich and Successful

Most every person longs to make more money, receive that promotion, or get a raise. Unfortunately, this thinking is what’s holding you back from really opening the floodgate to a bigger paycheck.

When I was in college, I worked at a local grocery store for hourly pay.  The money was good and the hours steady.  But one day I realized what a mess I’d really gotten myself into.  I realized, there was no way I’d ever be rich selling my time.

Quickly Find Good Investments

How To Know If A Stock Will Make You Rich

Being able to quickly find good investments is a key skill of an investor.  The best investors can sift through the clutter of the market to find 5 to 10 good investments and ignore the rest.  But it takes a certain knowledge to be able to do this.

With nearly 19,000 publicly traded companies in the United States, trying to find 10 good investments can be time consuming.  Fortunately, there is a simple way to sift through the data.  You’ll be able to throw aside 90% of the stocks on the market and focus your attention on finding the best of the best.

Create Your Own Buffett Partnership

How You Too Can Be As Successful as Warren Buffett

Like many people, I’ve always been intrigued by Warren Buffett.  The secret sauce lies in his original Buffett Partnership.  They should be the envy of anyone in business.

Anyone can do what Warren Buffett did with the Buffett Partnership and make money. If you want to be rich, just learn the original Buffet formula by looking at his partnerships.  There’s nothing unique about them.

Why Doing Nothing Is Good For Investing

The Warren Buffett Approach

doing nothing is good

In a world where we’re always on, doing nothing is sometimes the best thing an investor can do with his time.  Many top investors have been known for their almost isolationism.  Here’s why doing nothing is good for investing.

I once read an article about Tiger Woods, where he said he doesn’t remember most of his best golf shots.  He claims that he is at his best when he can turn his mind off and just let the training take over.  His body knows what to do, his mind just gets in the way.  The same could be said about investing.

A Business Idea You Can Steal – Radio Broadcasting

Periodically I post a business idea that I’d love someone to steal.  It’s usually something I would personal do if I had the time, talent, or knowledge.  But since I don’t, I hope to find someone who does, so I can fund them.

This time, the business idea I’d like to fund is a radio broadcasting or podcasting for syndication.

The One Reason I’m Keeping Meerkat and Deleting Periscope

Meerkat might have been the biggest star of this year’s South By South West (SXSW) event in Austin, Texas.  Just as quickly as it grew, it began to fizzle when Twitter launched Periscope a few days ago.  It doesn’t matter to me, I’m sticking with Meerkat for one simple reason.

Streaming through Twitter is a feature people have wanted for a while.  In January, Twitter purchased Periscope to bring the people what they wanted.  But Meerkat grabbed the first mover advantage by taking over SXSW.

Advocating For Small Venture Capital

Bigger is not always better, that’s why I’m advocating for Small Venture Capital management firms.  Small, is a business model I’ve always liked.   Austin Ventures is proving that big might be bad for venture capital.

I went to business school at Texas State University simply because their school focused on small business.  I’ve always been a big fan of small business.  It is my belief that the best “Big Businesses” run like they’re small businesses.

Berkshire Hathaway employs more than 300,000 people.  Their Omaha headquarters on the other hand, staffs only 23.  They run like a small business.

Steve Jobs once said of Apple, who employs more than 72,000, that they run like a start up.  Here is a video of Steve describing it himself.  He starts to describe it at the 2:00 mark.

I tweeted a link (see below) to an article in the Wall Street Journal about a company I’ve idolized for a while, Austin Ventures.  To add icing to the cake, it’s by one of my favorite editors at VentureWire, Russ Garland.

av tweet

Austin Ventures recently announced that they will not raise another seed fund.  Russ dove deeper.  The venture capital arena is vastly different than it was in 1999 and Austin Ventures is struggling to decide what their place is in this new arena.

I wrote about “pre-seed funds” last week.  Austin Ventures is feeling the crunch of these small firms getting in on the early action.  In 1999, Austin Ventures was the only place to get early stage capital in Austin.  Now, it is everywhere.  So where does that leave Austin Ventures?

I feel that their real issue is scale.  According to TechCrunch, Austin Ventures now has 20 members on staff, 15 of which are VCs.  They also have billions in funds.  By comparison, my favorite tech Venture Capital firm Union Square Ventures, has 6 VCs and only $1 billion.  Fred Wilson will admit, with the maturity of their funds, he spends more time in board meetings than he does finding new investments.

I really like Chris Pacitti’s new approach.  He’s working a pledge fund instead of a classic venture fund.  Rather than having hundreds of millions he HAS TO put to work, he has a very small venture capital fund that he only puts to work when his LPs like the idea.  This will allow him to operate a multi-billion dollar backed fund like it’s a small venture capital fund.

I love that he’s approaching Austin Venture’s woes by dialing back and operating like a small business again.  His approach is a creative way for a big business to operate like a small business.  I think this fund is going to be very successful.  I can’t wait to watch it work.

A Business Idea You Can Steal – Biometric Notary

Something new I’m going to begin doing on this blog is giving away my business ideas.  Sure you might steal them, in fact, I hope you do.  So here is my latest idea that I really would like to see flourish.

I’m giving away these ideas because they’re great ideas (at least I think so) but outside of my sphere of competence.  My hope in giving these ideas out is that someone out there with a different skill set than I will take the idea and make it into something.  All I ask for in exchange, is a chance to invest in you.

Is Pre-Seed Venture Capital A Smart Investment?

On Wednesday I tweeted a link to an article in the Wall Street Journal about Notation Capital.  They’re a Micro-VC fund that just raised $8 million to participate in pre-seed venture capital investments in New York City. 

There has been a recent spark in these types of funds but they make me curios about the end game.

Venture Capital Is Like Launching Bottle Rockets From Your Hand

Venture Capital is a bit like launching bottle rockets.  I saw a statistic in Fortune Magazine last month that emphasized this.  And as with anyone launching bottle rockets, each “venture guy” does it a little differently.