Advice For The entrepreneurs – Pay Attention

I was on a recent business trip for Ntirety when I opened up my copy of Mass High Tech and I saw an article in the publication that very quickly caught my attention.

It caught my attention for two reasons:
1.    Who it was written by
2.    The Topic of the article, entrepreneurship

Jack Derby the author of the article is one of the most seasoned entrepreneurs you will ever meet. Over the past years I have been lucky enough to attend lectures where Jack was one of the presenters. Each time I have listened to Jack I have walked away with nuggets of gold that I have been able to use in my business immediately. For the past year I have been lucky enough to work with Jack.

As an entrepreneur one thing is always constant, the fact I will be faced with change. In 2001 & 2003 it was the end of the .Com era and with what I affectionately like to call “The Nuclear Winter of IT Spending”.  No one in Information Technology was spending money on anything. Not a few years later we are dealing with the worse financial crisis I have seen in my lifetime.  As an entrepreneur there is as I said one constant, the fact I will be faced with change.  Through all of this and many other issues my company has done really well.

I attribute my company’s success to the fact that as an Entrepreneur I have never stopped learning. I am constantly looking for nuggets of gold from people like Jack to learn from. I never stop asking questions. I attend programs to further my own education and I am smart enough to know I don’t know it all. So when a man like Jack who has founded 14 companies, teaches entrepreneurship at MIT & Tufts has experience reading hundreds of business plans and has invested in a number of companies takes the time to share some of what he has learned along the way, I take the time to listen.

The article I read in Mass High Tech was titled “ Brotherly advice for entrepreneurs in times of trouble”. It is well worth a read. Here is a sample from Jack’s article…

• Think opportunity
Borrowing President Obama’s rallying cry, “the time is now,” this is a unique time in history that we’ll look back on and ask, “Did I make the right decision about investing in my business?” The time is now for the detailed planning on when and where to invest. Right now, there’s extraordinary talent on the street. What type of a deal could you put together to recruit that player to either join you right now or work part time for little cash but a larger bite at the equity apple? In this market, you’ll find that the more experienced the player, the more risk they’ll take in emerging companies with solid business models.

Corporations and investors are shedding their assets for little to no cash just to clean up their balance sheets and refocus. Obviously, you don’t want the dogs, but there could be gold among what corporate controllers and bank regulators perceive as stagnant businesses, product lines or technologies. Target the opportunity, do the research, assess your limits and then pick up the phone and call their biz-dev people or their investors. You’ll find that the hit rate is relatively high to get into meaningful discussions.

With that said, I know times are tough. There is oppurtunity out there if you only open your eyes and look. At Ntirety my company is the the business of Database Administration As a Service “TM”. We offer companies a way to Manage there Database infastructure that inproves service levels and save you money. This economy has created a catalysts for people to try our service. Business is strong. My nugget of gold to leave with you “Read Jacks Article and learn from it”

 

Posted Michael Corey,

Founder & CEO, Ntirety

www.ntirety.com

My Personal Twitter Account: Michael_Corey

Ntirety Corporate Twitter Account: Ntirety

 

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