Every entrepreneurship insight I get is cited and sourced from a specific legendary business mentor. I pay attention at a depth I consider “motivational listening.” In board meetings, lectures, and tech conferences, I seek to out note-take the rest of the room. This article is a snippet of my recent notes, and revolved around the theme of Other People’s Money (OPM).
Start with other people’s ideas
Before people share money, they want to test your resourcefulness. Show resourcefulness by taking and using existing ideas, and executing on them. Ideas are floating around like songs that have not been yet connected. Disc jockeying is pretty new, yet music is 500 years old.
DJ two ideas
Ideally, you’re DJing two APIs. An API is a protocol interface to an existing idea. DJ two existing pieces of technology. Just like a re-mixed song, this now sounds, looks and walks like it’s new. With this semi-new tool, you can now be self funded by…
Realizing no big company does anything innovative in-house
It seems counter-intuitive. Set aside your disbelief and execute a solution to an existing problem, and do it for that big company. Self-fund a semi joke entity with a toy. Two APIs DJ’d together is by definition a toy. Seek and “sell” a company on your tech innovation (while simultaneously self funding with revenue) by…
The Fifth Epiphany
Have you heard of the legendary book: Four Steps to an Epiphany? At Harvard Business School, there is an article called “Fifth Epiphany.” It stands on the shoulders of five legendary business books, levers non employee co-founders and shows how money flows into a new company without having to raise Venture Capital.
You better get to googleing Fifth Epiphany…