'IMS TECH CORP' ON TUMBLR STARTING APRIL 2011

This article touches on some important points and the message behind the words hits the nail on the mark. Achieving success as an entrepreneur is already hard enough and it will only be that more difficult if one does not have the right motivations to affirm a mission. Being a real entrepreneur is not role-playing. For a real entrepreneur being an entrepreneur is who they are and who they want to be. It is an inner desire and fire that burns from within. An entrepreneurs’ desire is often accompanied and fuelled by at least one passion. Other areas such as personality, personal goals and doing something for the rest of ones’ life; in our experience we feel that those ingredients are again naturally part of who an entrepreneur is albeit consciously or subconsciously.

The other points mentioned (below) are valid and important but for us they form the evaluation process for a totally different question:

1.       Having a vision and a plan.

2.       Having a clear business idea.

3.       Background, experience and finance.

These points (above) are pondered upon when considering the opportunity or opportunities ahead.

With all that has already been said we feel that the article lacks some essential components:

1.       Entrepreneurs are pioneers. In their life they might not always have been the leader but they have always been their own leader having their own thoughts, opinions and solutions. Entrepreneurs are problem solvers. Leaders are not always entrepreneurs and entrepreneurs are not entrepreneurs because they want to be the leader. Being an individual today is not easy. Most people follow certain footsteps and paths and become stereotypical. That is why a real entrepreneur is instinctively an entrepreneur because they see things differently, they approach things differently, they do things differently, they don’t accept things the way they are and if given a chance they want to make a difference.

2.       Being an entrepreneur is not a profession. There is no job description. There are no office hours. It is a state of being 24/7, every day, every year. Hence a real entrepreneur (after they have taken the leap of being an entrepreneur) never really works on one business or venture for the rest of their life. They are always founding new things and getting involved in other opportunities. This is something that is rarely understood and recognized when relating to an entrepreneur.

Quick note – a business person is not an entrepreneur.

Being an entrepreneur is more challenging than any job. Entrepreneurs do things that are not being done and have not been done. Not only does that involve an enormous amount of vision but is an extremely frustrating and an almost stressful experience. A normal job comes with a list of responsibilities and duties and involve scheduled tasks. An entrepreneur starts with no structure and order. They must use their own initiative daily and draw from their own inspiration. Entrepreneurs invent their own to-do lists, responsibilities and still need to have a firm grasp on their financial situation, strategy, product development, outer business dynamics and the list goes on.

In conclusion being an entrepreneur is something a few genuinely are. As entrepreneurs we feel that more backing and support is needed. More entrepreneurs will succeed with the right resources. Entrepreneurship will only lead to more jobs and more productivity. Entrepreneurs are entrepreneurs because they want to better lives, they want to make a difference and they want to change the world. We can’t do it alone. We need assistance, we need guidance and sometimes we only need that little extra to do something great.

brockportcs:

One of the biggest mistakes that aspiring business owners make is overlooking the importance of digging deep into what their motivations are for starting a business and if their overall life is truly ready for this change.

The article makes a few good observations and would be a great starting point. However most of the points that are made apply to what anyone doing anything would need to reach a certain level of achievement. For entrepreneurs being an entrepreneur is naturally who they are. If entrepreneurs had to look at such a list - no offense but on the most part they would be misguided by such a list. In fact most of the points that were made we would disagree with strongly.

Entrepreneurs do not need to be self-confident (it will help if they are.) They only need to be confident in their service, product and offerings. Being too confident can be extremely negative and dangerous. Being too stubborn to take critism and accept valid constructive opinions. Entrepreneurs are risk-takers but at the same time most entrepreneurs would argue that there is no risk as they are experts/leaders in their field. Many entrepreneurs do have a competitive nature but are doing what they do not because they are competitive - they do what they do because they believe what they are doing is better! Most entrepreneurs strive and aim for balance but will realistically at most times not have the luxury to keep it. Being an entrepreneur you never switch off and will work at all times anytime for as long as it is needed. The other points not mentioned are not critical qualities of an entrepreneur. They are metrics for any manager, business owner and success orientated individual.

The article actually misses out on the core qualities that truly make a real entrepreneur. An entrepreneur is an innovator and an optimist. Always aiming to better lives. If not change the world then change the way we live in it. Entrepreneurs have a clear vision, greater motive and are at the most part misunderstood by those they share that vision with (Jeff Bezos recently commented about this in an interview.) Entrepreneurs are in many ways rebels; they are their own leaders and think what they think and not how others think. Entrepreneurs are doers, strategists and builders. They are committed to their mission and generally will never only ‘found’ one thing. Finishing on what was touched on above. Being an entrepreneur is a way of life, a way of being and no such list is gonna convince an entrepreneur if they are one or not. 

zegnarfol:

http://wee.fm/5hc1 Another drop of dew falls—7 Must Have Characteristics of an Entrepreneur—and Todd will nourish the fields once more.

What a super and interesting interview! Every answer was out of the top draw. Could not agree more with everything that was said. kunaltandon highlighted an important part. The 2 types of critics could not be summed up better. Expanding on parts kunaltandon did not. To us the internet is without a doubt the mother of all recent inventions. Without the internet there would be no Google, Facebook, LinkedIn, TWITTER, GROUPON, ZYNGA and there probably would not be any Amazon.com. The next point especially goes out to entrepreneurs, tech investors and VC’s; as Jeff said when asked on how far he thinks we are into the digital revolution ‘We’re just at the beginning.’ Technology is changing so fast. There is a good chance the winners and leaders of each space today might not be the future winners and leaders of their space. Maybe less bets should be made on the players of today and more bets made in the new players of tomorrow. There are still gaps in the market and there are still many opportunities ahead. No matter what happens; there is no dispute that Jeff Bezos CEO of Amazon.com is a legend!

kunaltandon:

This is an excellent interview with Jeff Bezos- one of the most forward thinking people in tech today.  I suggest you read through the entire interview.  The part that stood out to me most is when Bezos spoke about how he deals with critics while continuing to innovate, to create, and to move the needle forward.

Have you ever had doubts?
Everything important we’ve ever done had some level of misunderstanding. And there are at least two kinds of critics. There are people who sincerely misunderstand and they want everything to work out well but they’re worried about it. And there’s a second kind of critic who has a self-interest to misunderstand…If you’re gonna do something new, something that has never been done before, people are going to misunderstand for one of those two reasons. And what you need to do when you hear that kind of criticism is first to open your mind and say “Are they right? Are we doing something wrong? Are we make a mistake for some reason?”. And if it the case, change your course. But if you look at it and you still have the conviction that your new way is worth pursuing, then you have to ignore those critics, otherwise you can’t do anything new.

The post makes some valid points however if we were looking at innovation from only two standpoints; we would have a different perception and opinion. In reality no answer is wrong. Everyone will have their own outlook. It is all about what works for you and ones thoughts will ultimately stem from ones own priorities. With us it is:

1. Meaning

2. Substance

Meaning - does the innovation solve a problem? What is its function and what functions does it perform? Does it make peoples lives better? Is it novel and original? Where is the value?

Substance - what is the need behind the innovation? Is there a real need for the innovation? Where is the market? Who are the competitors? What is the vision that will determine the customization, development and design of the service/product?

There are still so many questions that fall under both of our standpoints. What differentiates the innovation from what is already available in the market? Is there a USP? Is there a competitive advantage? For us the meaning and substance of an innovation forms the purpose behind an innovation. If there is no meaning, no substance and no purpose then an innovation will have no direction and no vision. To us the meaning and substance behind an innovation is the starting point, the foundation from which everything will be built on top. Each step increases value and each step will enable the innovation to be relevant. In conclusion; to us meaning and substance are essential early core factors that we feel are necessary for an innovation to be successful.

jeffreytjendra:

Where does innovation come from? Is invention considered an innovation? Does the invention of new technology facilitate innovation?

Well first of all, invention does not become an innovation until there is a perceived value created in it. The invention of a wooden wheel is merely an object…

(via jeffreytjendra-deactivated20120)

Google and Eric Schmidt did miss the boat on ‘social’ in general. If they had focussed and delivered effective solutions - the game would be a lot more different. 4years ago Facebook had 20million users compared to today where Facebook is reaching 700million users. That is a lot of missed advertising dollars and has allowed the many players to gain the momentum they now have.

‘Social’ is fast becoming an industry of its own. There are social networks. Facebook, Twitter, LinkedIn, Digg and Ning come to mind. You then have social media. Then you have social gaming. There are blogs, forums and chat rooms. You have messaging and VOIP services such as BBM, WhatsApp, MXit, MSN and Skype. Closely liked to social is mobile. ‘Group buying’ has become a phenomenon with Groupon and Living Social. Closely linked to mobile is location awareness and location based services like FourSquare, Loopt just to name a couple. Now there is a massive push towards payment.

By listing the different parts of social; it is clear that social is fast developing its own ecosystem. Each part offers a different experience and has their own benefits. What we hope we are showing is that social is not a zero sum game. It might seem as if there are market leaders in their space but there is no player implementing a full-complete experience.

Larry Page has taken the reigns from Eric Schmidt. Larry seems focussed and putting a lot of emphasis on social. Marissa Mayer recently spoke about Google’s vision and strategy in local and social at Social-Loco in San Francisco at the beginning of May 2011. It is still early to say if Google does have an effective strategy and little can be made of what Marissa divulged. It is clear that Google are working on various initiatives and that developments are being made.

Inevitably more segments will develop and will become more developed. Technology is moving at a fast pace and there is bound to be more changes. Presently it looks to us as if all the players in their respective spaces are intent on increasing their market share and offering quality service in their field. The growth they are after is in expanding access to their services and to be the leader in their space. There is no need and no rush and maybe it is not currently possible to offer a one size fits all package. Watch this space! It is only going to get more inter-twined, more complex and more competitive.

stoweboyd:

via Wired, Sam Gustin

Google chairman Eric Schmidt took responsibility for the search titan’s failure to counter Facebook’s explosive growth, saying he saw the threat coming but failed to counter it.

Speaking at the D9 tech conference outside of Los Angeles Tuesday evening, Schmidt said that for five years, he’s been aware of the competitive threat posed by upstart social networking websites like Facebook and LinkedIn. Schmidt even wrote internal memos about the threat, he said, but was so focused on running Google’s day-to-day operations that he didn’t give the issue the necessary attention.

In an interview with AllThingsD’s Kara Swisher, Schmidt described Google’s social stumble as his biggest regret.

“I clearly knew I had to do something and I failed to do it,” Schmidt said. “CEOs need to take responsibility. I screwed up.”

Pressed by Swisher and her co-host, Wall Street Journal tech columnist Walt Mossberg, about why he didn’t focus more on social networking, Schmidt had a simple answer:

“I was busy,” he said.

The most expensive error of all time?

Schmidt is looking more like a Steve Ballmer or John Sculley type: a suit occupying the front office while the business loses its way in a world of unprecendented innovations.

Let’s see if Larry Page can make up for the five years of social misteps that Schmidt oversaw.

There is still time to make Android a social operating system, and not miss the next generation of innovation, Larry.

And this is not some sideline: Google’s core business is search, and as we move into a world based on social connection the nature of search is shifting very quickly:

We’ve moved out of scarcity-based search, where there were few results for searches. In a time of super-abundant information, the problem becomes ‘who do you want filtering for you?’ Google’s foundational method is counting incoming links, weighted by a reputation, derived again on incoming links. From this it derives a position in search results.

But in an era where we can connect directly to others in social networks, we can rely directly on our connections to filter the immense web, so meaning is the new search:

Increasingly, we will switch to a social connection mode to filter and find for us. Our networks will become engines of meaning, as Bruce Sterling said.

Everything we want to find has been found, and will find us through our social connections. Like head colds and happiness.

We will find everything through social relationships: what washing machine to buy, or the best Thai restaurant in Beacon NY, or the company that makes those horizontal corduroys. People that care about these issues, and to who we matter, will share meaning with us: they have beliefs that they can justify, also called knowledge.

Google is only the echo of our linking behavior, a second-order derivative of our combined gestures. But generally, we would be happier with fewer results from trusted sources, and the rise of social tools makes that almost as fast as Google search.

Google must plan to adapt to the social revolution or fall into the spam darkness.

What a great, interesting read. Our first thought is the word ‘entrepreneur’ being used so regularly and loosely that it has lost the essence it is supposed to represent. No disrespect but a person who buys into a franchise is an entrepreneur. Another person copying a business model they saw elsewhere or came across elsewhere is an entrepreneur. To us ‘entrepreneurship’ is about being original, creative and innovative. It is about doing things that aren’t being done to change the way things are being done. It is about building new industries, providing better solutions and supplying options that was not available. Maybe the new buzz words should be ‘found’ and ‘founder?’

Getting back to the article. The conclusion is spot on! Age is just an ingredient of the recipe. Passion, vision, work ethic, having (or having access) the business acumen, being business savvy, having an innovative spirit, belief in ones ideas, drive, dedication, understanding the industry and timing are some of the other important ingredients that should also be in the pot.

One must not lose sight that the entrepreneurial spirit also differs depending on the industry. In terms of tech and technology. From the mouth of the most connected person in our industry. In an interview with Reid Hoffman, he said ‘now is the time to found something!’ Of course he is correct and although it was not planned on our part - we are glad to be gearing up at this time.

In conclusion; I think the article has only highlighted a sub-plot to what we think the main story really is. We are working on some some stuff that will do some real good and impact positively on peoples lives. There are so many more ideas and initiatives other entrepreneurs and founders are grinding at. Is there a system out there that can help us and support us? Without that help and support we are struggling. We can only boot-strap so far before we reach the ceiling. The main story should be about ‘helping and supporting those that want to do good.’

vladgorenshteyn:

Here’s a little science about the art of entrepreneurship via TechCrunch. If you have an entrepreneurial story that supports or defies Ressi’s conclusion, post your thoughts below…

Editor’s note: Adeo Ressi, is the founder of The Founder

Institute and …

One thing one learns when one is starting and building up an idea or business is…patience. It might be a while till you finish your idea and fully capture your vision but enjoy the ride ;)

Good luck

Take care

The IMS Team

brightlycoloredcandies:

So I’ve started sketching this idea I’ve been developing for a couple of months, and I still can’t explain it fully. It feels silly doing these preliminary sketches, ‘cause I feel like I’m doing something a little cliche. But then I remember the image I have in my mind about the end result and I…

I think there are a few points missing from your list:

An entrepreneur…

1. Has a vision

2. Believes in their vision

3. Has the business mind to take their vision to the point where it can be scaled-up and geared-up.

Keep up the good work

All the best

The IMS team

mandablogsabout:

Studies have shown that successful entrepreneurs possess these characteristics:

1. Self-confidence

This is that magical power of having confidence in oneself and in one’s powers and abilities.

2. Achievement Oriented

Results are gained by focused and sustained effort. They concentrate on…