Comments on: Traits of the best entrepreneurs http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/ News About Tech, Money and Innovation Wed, 25 Nov 2009 16:28:31 +0000 http://wordpress.org/?v=2.8.5 hourly 1 By: Abysmal Creature http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-656924 Abysmal Creature Thu, 29 Nov 2007 18:04:38 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-656924 Thanks for the great detailed article. I also tried to compile such a list from the stories of top 25 entrepreneurs. Here are the <a href="http://startup-newbie.blogspot.com/" rel="nofollow"> 10 entrepreneurial traits</a> Thanks for the great detailed article. I also tried to compile such a list from the stories of top 25 entrepreneurs. Here are the 10 entrepreneurial traits

]]> By: Erick http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-141009 Erick Sun, 13 May 2007 21:06:01 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-141009 Great post. cant tell you how true this is. Drive and Dedication and adreline gets me through. Great post.

cant tell you how true this is.

Drive and Dedication and adreline gets me through.

]]> By: Joanne Graham http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-115166 Joanne Graham Mon, 07 May 2007 14:24:34 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-115166 What a valid post. I enjoy reading the posts on this site and will be sure to return on a regular basis. What a valid post. I enjoy reading the posts on this site and will be sure to return on a regular basis.

]]> By: Chris Howard http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-100634 Chris Howard Fri, 04 May 2007 02:23:06 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-100634 As an entrepreneur for 20 years, my motto has always been "I can't be stopped." It's a phrase you really have to believe in order to succeed. Thanks for an interesting article. -- Chris As an entrepreneur for 20 years, my motto has always been “I can’t be stopped.” It’s a phrase you really have to believe in order to succeed. Thanks for an interesting article.

– Chris

]]> By: Ryan Floyd http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-87515 Ryan Floyd Mon, 30 Apr 2007 14:30:44 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-87515 you are welcome to get in touch... email is probably easiest to start... ryan@stormventures.com you are welcome to get in touch… email is probably easiest to start… ryan@stormventures.com

]]> By: Ranj http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-51326 Ranj Fri, 20 Apr 2007 09:33:14 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-51326 Ryan I would really like to get a more insightful answer but this post might not be right place to put out the details. If you do not mind I would like to write to you directly. Kindly consider Thank you Ryan
I would really like to get a more insightful answer but this post might not be right place to put out the details. If you do not mind I would like to write to you directly.
Kindly consider
Thank you

]]> By: Sherwin http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-50668 Sherwin Fri, 20 Apr 2007 04:39:58 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-50668 Mr. Floyd, Thanks for your response. I hope you didn't take it as harsh in tone -- when I said "you aren't..." and other uses of "you"... I wasn't referring to you, of course, but investors in general. I understand your opinion that it's the team rather than the idea. However, I don't think somewhere like Tel Aviv is somehow going to have better teams than what you could find in some major city in the US. If it's about the traits you mentioned in your post, I don't see how those traits won't just as easily be found in Dallas, Phoenix, etc. etc. Unless you prefer those places outside of the US because they have ripe markets? Sorry, just trying to pick your brain here. Sherwin Mr. Floyd,

Thanks for your response. I hope you didn’t take it as harsh in tone — when I said “you aren’t…” and other uses of “you”… I wasn’t referring to you, of course, but investors in general.

I understand your opinion that it’s the team rather than the idea. However, I don’t think somewhere like Tel Aviv is somehow going to have better teams than what you could find in some major city in the US. If it’s about the traits you mentioned in your post, I don’t see how those traits won’t just as easily be found in Dallas, Phoenix, etc. etc. Unless you prefer those places outside of the US because they have ripe markets? Sorry, just trying to pick your brain here.

Sherwin

]]> By: Ryan Floyd http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-48819 Ryan Floyd Thu, 19 Apr 2007 15:47:17 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-48819 I think in general for services firms you want to try and run them profitably almost from the beginning. It forces you to focus on the accounts or types of jobs that make the business stronger rather than what a long white board session might suggest. I would have to know a lot more detail to give you a more insightful answer but clearly you needed to change things and it may well have been that the market niche you were serving was not very big or willing to pay you enough. If markets are not there you have two choices - either focus on another one or shut the business down. Sounds like you made the right decision. I think in general for services firms you want to try and run them profitably almost from the beginning. It forces you to focus on the accounts or types of jobs that make the business stronger rather than what a long white board session might suggest. I would have to know a lot more detail to give you a more insightful answer but clearly you needed to change things and it may well have been that the market niche you were serving was not very big or willing to pay you enough. If markets are not there you have two choices – either focus on another one or shut the business down. Sounds like you made the right decision.

]]> By: Ranj http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-39720 Ranj Tue, 17 Apr 2007 05:35:32 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-39720 Ryan thanks for the reply. Acutally the company I had founded with two other partners was a IT services company. It might not even fit the description as a "venture" as it was plain vanila programming outsourcing firm. We worked in a difficult market like Japan and kept at it for almost 10 years but the results were just not there. On other hand the debts were mounting to maintain ever costly development center. So personally I felt some different direction is necessary rather than keep on doing same thing. As an investor how would you have evaluated the situation and when would you have made the decision to pull the plug. Thanks Ranj Ryan thanks for the reply.
Acutally the company I had founded with two other partners was a IT services company. It might not even fit the description as a “venture” as it was plain vanila programming outsourcing firm. We worked in a difficult market like Japan and kept at it for almost 10 years but the results were just not there. On other hand the debts were mounting to maintain ever costly development center. So personally I felt some different direction is necessary rather than keep on doing same thing. As an investor how would you have evaluated the situation and when would you have made the decision to pull the plug.
Thanks
Ranj

]]> By: Nick Panchev http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-39495 Nick Panchev Tue, 17 Apr 2007 04:10:42 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-39495 No comments. No re-invented wheel. Wasted time reading blogs. No comments. No re-invented wheel.
Wasted time reading blogs.

]]> By: Ryan Floyd http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-37214 Ryan Floyd Mon, 16 Apr 2007 14:46:48 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-37214 Ranj I think if you are unable to attract venture investment it is worth really understanding why this is the case. Venture investors sometimes don't give direct feedback, but many try to like Storm. If your instinct as founder is that the venture no longer makes sense I would ask yourself what has changed since you started - maybe you have learned more about the market, technology etc. Maybe the team didn't come together as you had planned. If you are on the edge of bankruptcy, I would think hard about all of your options including shutting the business down. When you are operating under this sort of financial pressure (which is different from not taking a salary, working from coffee shops, working 100+ hr weeks etc.)it makes it more difficult to make the right decisions. The great news about start ups is that you can always try again. You will be that much wiser next time around the track. Ryan Ranj
I think if you are unable to attract venture investment it is worth really understanding why this is the case. Venture investors sometimes don’t give direct feedback, but many try to like Storm. If your instinct as founder is that the venture no longer makes sense I would ask yourself what has changed since you started – maybe you have learned more about the market, technology etc. Maybe the team didn’t come together as you had planned. If you are on the edge of bankruptcy, I would think hard about all of your options including shutting the business down. When you are operating under this sort of financial pressure (which is different from not taking a salary, working from coffee shops, working 100+ hr weeks etc.)it makes it more difficult to make the right decisions. The great news about start ups is that you can always try again. You will be that much wiser next time around the track.

Ryan

]]> By: Ranj http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-36192 Ranj Mon, 16 Apr 2007 09:34:48 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-36192 Hi, This might be an odd question to post here but I really want to know your opinion. It is no doubt very nobel to believe that failure is not an option & Never Quit logic. But what happens when ones gut feeling starts telling that the venture is no longer economically feasible. Is there some time when one has to stop pumping in more money in the venture (as founder) especially virtually bankrupting oneself. Ranj Hi, This might be an odd question to post here but I really want to know your opinion. It is no doubt very nobel to believe that failure is not an option & Never Quit logic. But what happens when ones gut feeling starts telling that the venture is no longer economically feasible. Is there some time when one has to stop pumping in more money in the venture (as founder) especially virtually bankrupting oneself.

Ranj

]]> By: Ryan Floyd http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-34161 Ryan Floyd Sun, 15 Apr 2007 16:59:00 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-34161 It is hard to find a balance. At Storm, our first priority is to our existing portfolio companies. This is the majority of our time. Second, we meet with new companies (and existing ones) talking about ideas and direction. I try to respond to every email and voicemail. I don't only take meetings with people that come from someone within my network - because you are right ideas come from lots of different areas. However, ideas are not as valuable in my opinion as most people think. Its much more about the team, their ability to execute, the market etc. We do think hard about investing in companies outside of Silicon Valley. There are other places in the US we are excited about but we would prefer to invest in Tel Aviv or Seoul or Shanghai before many other cities in the US. It is hard to find a balance. At Storm, our first priority is to our existing portfolio companies. This is the majority of our time. Second, we meet with new companies (and existing ones) talking about ideas and direction. I try to respond to every email and voicemail. I don’t only take meetings with people that come from someone within my network – because you are right ideas come from lots of different areas. However, ideas are not as valuable in my opinion as most people think. Its much more about the team, their ability to execute, the market etc.

We do think hard about investing in companies outside of Silicon Valley. There are other places in the US we are excited about but we would prefer to invest in Tel Aviv or Seoul or Shanghai before many other cities in the US.

]]> By: Sherwin http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-26643 Sherwin Fri, 13 Apr 2007 22:49:43 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-26643 Question for Mr. Floyd - Why are VC's so inaccessible? You won't find fresh ideas by constantly meeting with people inside your extended network (as in, you need connections to get meetings). There are a lot of ideas from people far from Silicon Valley, but we aren't going to get heard... Question for Mr. Floyd -

Why are VC’s so inaccessible? You won’t find fresh ideas by constantly meeting with people inside your extended network (as in, you need connections to get meetings). There are a lot of ideas from people far from Silicon Valley, but we aren’t going to get heard…

]]> By: Ryan Floyd http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/comment-page-1/#comment-22402 Ryan Floyd Thu, 12 Apr 2007 17:51:28 +0000 http://venturebeat.com/2007/04/10/traits-of-the-best-entrepreneurs/#comment-22402 Tarunesh You are right there is a danger that one becomes biased to what works (which by the way is a good thing most of the time)and might not be open to new approaches. I would argue this is probably not someone who would also be a founder - its not the same personality. One needs to understand their customers and understand the technology in order to be successful. To illustrate, if one has never sold into the telecom/service provider market it would not make sense to pitch a next generation solution for those networks. Said another way, there are very few successful artists that have not had some training in the arts - but it certainly doesn't constrain their creativity. Ryan Tarunesh
You are right there is a danger that one becomes biased to what works (which by the way is a good thing most of the time)and might not be open to new approaches. I would argue this is probably not someone who would also be a founder – its not the same personality. One needs to understand their customers and understand the technology in order to be successful. To illustrate, if one has never sold into the telecom/service provider market it would not make sense to pitch a next generation solution for those networks. Said another way, there are very few successful artists that have not had some training in the arts – but it certainly doesn’t constrain their creativity.
Ryan

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