An “Exclusive” Lunch
Yesterday, I was fortunate enough to have lunch with Scott Smigler, owner of Exclusive Concepts, Inc.
Scott was one of the founders of the Bentley Entrepreneurship Society, and was instrumental in building the group during its early stages. Since graduating Bentley in 2004, Scott has worked tirelessly to grow his Internet Marketing company from their Waltham office.
Among other advice, one of the best things that Scott left with me was the assurance that all good things take time. One of my main concerns (and one that resonates with my fellow student entrepreneurs) is whether or not my business will grow to the point that it could financially support me, and eventually, my family. Everyone wants to work a job that they love doing, but security is a legitimate aspect of choosing a career. Scott explained that with the right mix of ambition and perseverance, often times one great lifelong customer can finance an entire start-up venture.
Another important suggestion that Scott offered was to find out what your company does best, and stick to it. One downfall to being a true entrepreneur is the tendency to always create new ideas and never fully realize them. By understanding what you're good at and completely investing yourself in that effort, the result is a purer and more recognizable solution for your clients.
Take advantage of any opportunity that you have to learn from people like Scott who have already crossed some of the obstacles that challenge you. You can never have too many mentors!
To learn more about Scott's company, and his advice to young entrepreneurs, check out his article in Entrepreneur Magazine.
Trading Up
Another genius idea. Last year, we saw 21 year old Alex Tew create the million dollar homepage.
To save up for college, Alex sold one million pixels of a web page ($1 ea.) in 100 pixel blocks to advertisers who wanted a piece of the inevitable publicity that would occur if Alex's page took off. And it did.
This week, Kyle MacDonald finished a year of trading old junk on his blog - http://oneredpaperclip.blogspot.com/
What started with one red paperclip eventually earned Kyle a house in Kipling Saskatchewan Canada.
It's unbelieveable how far an original idea can take you.
Books to Read!
Alright... so I was never much of a fan of reading, but I found out recently that there are good books out there. Any of these books will positively impact your thinking on how to start/run a business:
Blueprint to a Billion, By David G. Thompson 
The Innovator's Soultion (follow up to The Innovator's Dillema), By Clayton Christensen 
Seeing What's Next, By Clayton Christensen, S.D Anthony 
Blue Ocean Stategy, By Kim and Mauborgne 
How to Win Friends and Influence People, By Dale Carnegie 
Winning, By Jack Welch 
First, Break All the Rules, By Marcus Buckingham 
The Fortune at the Bottom of the Pyramid, By C. K. Prahalad 
Good to Great, By Jim Collins 
Treasure Hunt, By Michael J. Silverstein 
Biznets: The Webopoly of Future Business, By Frank Feather