May 30, 2007

Entrepreneur Game From Disney and Kauffman Foundation

My FundingUniverse colleague, Josh Bruni, sent me a link to Hot Shot Business. It is a sweet game created by Disney and the Kauffman Foundation. Hot Shot Business is an interactive game that teaches entrepreneurial skills to children. Props to Disney and the Kauffman foundation for teaching the value and excitement of entrepreneurship early on. Executives at Disney and the Kauffman Foundation obviously understand they are influencing the next generation of entrepreneurs. Way to go!

May 29, 2007

Investor Words of Wisdom

As you know, investing is a risky business. Learning from the words of successful investors can provide insight into how to be successful in your own right. Take time to read the words of wisdom from the following investors .

“Why not invest your assets in the companies you really like? As Mae West said, “Too much of a good thing can be wonderful.” 

Warren Buffett

“Wide diversification is only required when investors do not understand what they are doing.”
Warren Buffett

“My foundations support people in the country who care about an open society. It’s their work that I’m supporting. So it’s not me doing it. But I can empower them. I can support them, and I can help them.”
George Soros

“We want these assets to be productive. We buy them. We own them. To say we care only about the short term is wrong. What I care about is seeing these assets in the best hands.”

Carl Icahn

“Don’t congratulate us when we buy a company. Any fool can buy a company. Congratulate us when we sell it and when we’ve done something with it and created real value.”

Henry Kravis

Inventor, Entrepreneur or Both?

Entrepreneurs can be inventors but inventors are not always entrepreneurs.  An inventor has the keen ability to find a problem and find a solution. An inventor often lacks knowledge of the business world to take their product to the market. They should surround themselves with individuals with the business acumen to take the idea to market. Some individuals possess the qualities of an inventor and the business knowledge necessary to take the idea to the market. These individuals are entrepreneurs.

Look at the list below. While it is not a complete list it should give you an idea of some of the qualities of an entrepreneur and investor. Notice the similarities and differences in the qualities of each list.

Characteristics of an Entrepreneur

Business savvy
Risk taker
Positive thinker
Produces results
Willing to work long hours

“A real entrepreneur is somebody who has no safety net underneath them.”
Henry Kravis

Characteristics of an Inventor

Excellent at locating problems
Finds solutions to problems
Can be unrealistic

“An inventor fails 999 times, and if he succeeds once, he’s in. He treats his failures simply as practice shots.”
Charles Kettering