When you come up with an idea for a business, how do you know when it’s the right time to bring it to the market? David Koretz, the CEO of Plum, learned a great deal about the challenges of timing throughout his career. He joins us on ENTREPRENEURradio’s “Inside The Entrepreneurial Mind” to discuss his entrepreneurial experience and how he learned to be resilient despite struggles selling an idea.
When you build your own business for the first time, the business often becomes an extension of yourself. Many entrepreneurs find that their company becomes an integral and often central part of their lives; they cannot imagine what they’d do if they lost the business they’d worked so hard to create and scale. But sometimes, we do not have control over whether or not our business remains under our control. Losing control of the company you created makes an entrepreneur reach deep inside to redefine their unique competitive advantage. Deborah Richman joins us on ENTREPRENEURradio to discuss what she learned to do-- and stop doing-- in order to remain resilient in the face of this kind of crisis.
Eighteen years ago, Michael Grimmé returned from Europe, where he had been working in the oil trading industry. He relocated his family to Ft. Lauderdale, where he bought and ran a chain of boutique hotels. With the dramatic freeze in the tourism industry after the events of September 11, 2001. Michael had to reassess his assumptions about the hotel industry in an inventive way, and embraced the opportunity for change. The economic downturn, Michael realized, triggered hotels and resorts to sell excess stock and furniture as a source of revenue. In the midst of this economic crisis, he reassessed his business strategy and pivoted into a new market: furniture liquidation.
Steve McKean defines an entrepreneur as “someone who sees an opportunity or a problem to be solved and marshalls the people and resource to build a product or service to solve that problem.” Over an expansive career, he embodies that definition. His most recent success, Acceller, was built entirely for the purpose of solving a problem: Acceller negotiates bills with major telecommunications companies for their customers. He’s also working with two additional companies built on the philosophy of solving problems for customers: BillShark, a personal finance company similar to Acceller, and a robotics software company that focuses on private data.
How do you find the courage to make the leap into entrepreneurship? Brian Brackeen had a comfortable job with a highly successful company. But Brackeen felt a calling to build something of his own. He is the founder of Kairos, a technology responsible for facial recognition and emotional analysis. ENTREPRENEURradio shares his story on “Inside the Entrepreneurial Mind.”
In conversation with ENTREPRENEURradio, Willy illustrates the advantages of taking risks and confronting failure early on. He says: “You need to be prepared to accept failure, and you need to understand that this is a marathon, not a sprint. Put your head down and keep pushing forward.” Continue reading
What do you do when the business models that brought you success are no longer the best road map in a new environment? Robert Grosser, president of Luxury Mortgage Corporation, a private company that provides a wide-range of mortgage products and services for homeowners. Continue reading
How is social media changing the way you run your life? Albert Santalo sees social media technology is the platform that will change the way healthcare works in America. He is the founder, president and CEO of Care Cloud Corporation, one of the most promising companies of 2014, according to Forbes Magazine. Care Cloud provides practice-management software to healthcare providers, providing a fast, secure link between doctors, patients, medical records and payments. Santalo says: “The most complex system that exists in the world is the human body. The second most complex thing is the healthcare system. We deal with both.”. The medical practice of the future will benefit from the efficiency provided by social media, the cloud, and apps....