Monday, August 26, 2013
Watching a new show on TV called The Profit in which a billionaire entrepreneur invests in distressed businesses if they will allow him to help turn them around. After the first few shows several themes have emerged which resonate with my experience. First, people often mistakenly associate revenue growth with a well managed company, even when their business is losing money and about to go under. Second, many entrepreneurs are so set on their original "dream" that they would rather their dream go down in flames than modify it slightly and make millions of dollars. Finally, many first time entrepreneurs would rather own 100% of a business that is worth nothing than 50% of a business that is worth millions.