Business Thoughts

Moving from Phase I to Phase II of an SBIR is a challenging prospect.  Typically, less than half of all Phase I contracts successfully make this leap.  Commercialization plans are becoming a larger part of the Phase II award criteria,

My first sale was to a company I interviewed with for a sales management position.  I was candid with the president of American Career Planning Services, Inc. at that interview and mentioned that I might start my own business.

Regarded by the Wall Street Journal as “The dean of America’s business and management philosophers,” Peter F. Drucker wrote in his book Innovation and Entrepreneurship that “Entrepreneurship is ‘risky’ mainly because so few of the so-called entrepreneurs know what they are doing.

Most of us have purchased an automobile.  I don’t think anyone would argue that you’re at a huge disadvantage because it is something you do infrequently and the car salesman, especially the sales manager, does it every day.  If you’re an above average negotiator, the best you can hope for is a fair deal.

Back in the early seventies, I was the first Northeastern University co-operative education student ever to hold a field sales position at the Paul Revere Insurance Company.  It was an opportunity I created for myself.

Starting a business can be a very scary experience, especially if you are a working-class kid trying to realize the American Dream.  That was me over 35 years ago and I remember saying to myself, “If I was a farmer back in the early 1900s, I’d have to

Back in the mid-seventies when I was a young man interviewing for a sales manager position at a fax machine company (brand new technology then) that I don’t recall because, after all, that was long ago,

“In business the earning of profit is something more than an incident of success.  It is an essential condition of success; because the continued absence of profit itself spells failure.

That was one of my father’s favorite lines.  And it is true.  The pure sensibilities of dogs and small children are noteworthy. 

“Separation of church and state” in the trade media has always been a great editorial tradition.  In other words, news and other editorial information are published based upon merits and not influential advertisers.

You can’t develop a stent or pacemaker without imposing strict size limits.  What permitted the miniaturization of electronic devices were size limits imposed by product development teams.  It is obvious in engineering and it is obvious to me with respect to sales and marketing.

The best publicity approach is one that satisfies the needs of the media.  When writing press releases, too often, people are trying to get “a freebie.”   Something for nothing is exactly the wrong attitude!  Publicity is not free advertising. 

“The essence of the American economic system of private enterprise is free competition. 

What he observed for about 20 years was the consistency in my business and how successful my clients have become.   An owner of an advertising agency called me several months ago with the idea that he might want to buy Venmark International. 

If you react to a negative situation by thinking, “what did I do wrong?” that is a natural entrepreneurial ingredient. 

I don’t understand why the entrepreneurs who take risks and become successful are vilified as rich businessmen and looked down upon by our democratic elite leaders. (Actually I do, but that’s another story)

I love LinkedIn and definitely recognize its value.  But, see too many questions about starting businesses that are way off the mark.  Too “what if” oriented and too academic.  For many of us, starting a business was a visceral experience.

It was one of those days you don’t ever forget.  Like JFK’s assassination, the Space Shuttle Challenger explosion, and O.J.’s acquittal.  I remember exactly where I was the day I lost a sale because my fee was too low!