Baby boomers – start your entrepreneurial life

According to a recent study, for the past 10 years, adults aged 55 to 64 have been the group most likely to start a new business. The study was conducted by the Ewing Marion Kauffman Foundation which promotes entrepreneurship. And now that baby boomers are reaching retirement age, the trend is only going to grow. People are living longer and […]

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Social media – adding value or just a buzzword?

Everybody knows about FaceBook, Twitter, LinkedIn, Blogging, etc, etc. Does it really add value to a business? Should my company use social media? Will social media benefit the bottom line? The short answer is YES. BUT – you need to develop a unique social media / online strategy to implement. Let me be blunt – if you appoint a person […]

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Confidence and the entrepreneur

Research on overconfidence suggests that excess levels of confidence can create self perceptions of invulnerability (Camerer & Lovallo, 1999; Hayward & Hambrick, 1997; Malmendier & Tate, 2005) which result in lower levels of effort on some tasks. Hubris theorists argue that when entrepreneurs and managers are overconfident they suffer from biases in making decisions about which courses of action to […]

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Seven common denominators of real millionaires

Stanley and Danko, authors of The Millionaire Next Door, identified seven common denominators of real millionaires: They live well below their means. They pursue wealth very efficiently. They have little interest in social status. They got no financial help from their parents. Their adult children pay their own way. They identify profitable markets. They choose occupations wisely.

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All hat and no cattle

Caviar and vintage Budweiser As part of their research, the authors of The Millionaire Next Door interviewed a group of decamillionaires—people with a net worth of $10 million or more. To make the decamillionaires at home, they rented a Manhattan penthouse and put on a spread of four pates and three caviars along with expensive vintage wines. The first decamillionaire […]

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