08-24-2014, 12:15 PM
A very important factor that's missed in this thread is ability to find/identify trends and take advantage at the beginning ... maybe intuitively find the right market, the right service, ability to test and make the changes, get out of that market at the peak and have flexibility to put one's energy/efforts into something new, trending.
For example, Bill Gates missed completely Mosaic due to his focus on PC, he even had a book published regarding that ... when he realized his mistake, made a meeting right away with his executives and declared Microsoft as an Internet company, then put billions in research to create Explorer and make a superior product that turned Netscape obsolete.
He was willing to emotionally detach himself from looking ridiculous or from being right, by getting on the trend right away and turning it around ... flexibility to approach/apply is very important for every entrepreneur ... we don't want to end up like the people owning Blockbuster before Netflix, no matter how successfully we've been running it.
For example, Bill Gates missed completely Mosaic due to his focus on PC, he even had a book published regarding that ... when he realized his mistake, made a meeting right away with his executives and declared Microsoft as an Internet company, then put billions in research to create Explorer and make a superior product that turned Netscape obsolete.
He was willing to emotionally detach himself from looking ridiculous or from being right, by getting on the trend right away and turning it around ... flexibility to approach/apply is very important for every entrepreneur ... we don't want to end up like the people owning Blockbuster before Netflix, no matter how successfully we've been running it.
