A funny thing happened to me during the 5th year of my 3rd start-up: I fired myself. The company continued on, but I walked away. Why? I could say that the company could no longer afford a CFO. (Sales had dipped during the recession, and I was working at half pay.) But that's just an excuse.
The real reason I fired myself from the company that I helped start has everything to do with
I was privileged to have had Bill Manby as a business partner and mentor during the heady days of the Dot-Com Boom (and bust!) in Silicon Valley. I don't know how we met -- California's Monterey peninsula was a small place -- but it quickly became clear that we made a great team. His gray-haired wisdom perfectly counter-balanced my youthful exuberance. We formed Monterey Venture Partners in
For the first time in Cirque Du Soleil’s 29-year history, a performer died last month when she fell during an aerial sequence in the show “KA” in Las Vegas. This wasn't just a shock for the audience, but also a test of the entire Cirque business.
It also made me ask the question, "Who pays when an employee dies on the job?" Every business owner should use this sad event as a reminder
I had a rare opportunity to speak with Elon Musk. In case that name is not familiar, you certainly know him by what he has done in the last decade: Musk revolutionized online payments with PayPal, re-imagined space travel with SpaceX, and created one of the hottest (and all-electric) cars ever made at Tesla Motors.
Musk, now just 40, has accomplished more in the last 10 years than most people
You may not know Edward Altman, but he knows whether your company will be bankrupt in the next two years. Altman developed a deceptively simple formula that calculates the financial strength of a business and accurately predicts the probability of bankruptcy more than 90% of the time. The formula, called Altman's Z Score, needs just 8 numbers -- and all of them can be found on your income
I was 27 and struggling with my first start-up when I met my wife. She seemed like the perfect addition to my growing company. She worked without pay and never complained when the job kept me at the office until midnight - because she was there too.
I told this story to Charley Moore, CEO and founder of Rocket Lawyer today, and we lamented how terribly shortsighted that was. We talked about how
If given the choice, I think most business owners would rather discuss...well...just about anything other than life insurance. Who wants to think about their own death?
But if you love your business, care about your employees and want to protect your business partners, then you should be thinking about it. Now... while you still can.
Most business owners buy key person life
I recently discovered a number of businesses in the USA that are helping the Russian Mob rip people off. If you sell a product, your company could be one of them.
I'm not kidding.
HP and Office Max are on the list. So is PayPal. And hundreds of other companies that sell products online are also, unknowingly, helping criminals get rich.
Maybe you already know that someone stole my
At lunch yesterday, I had the guilty pleasure of hearing “war stories” from a group of lawyers, accountants and bankers. Sometimes lunch with this crowd is yawn-inducing, but these guys were on a tear and each told of an unlucky client who had accidentally lost millions in a business transaction.
My favorite story was of a guy who bought a small company. The seller and he had agreed to
I'm sitting on the beach today. But last week I was mopping up water.
Yep, my office flooded last week. A hot-water heater burst and rain fell from the ceiling for hours. By the time we got the water off, $10,000 of damage had been done.
It started me thinking about how vulnerable we all are because we rely on computers and electronic files -- none of which mix well with water.