Startup reading 3.29.15

How hard is it to be CEO? - Quora
The Terrible Technical Interview - TechCrunch

Onboarding and the cost of Team Debt (not Technical Debt) - Kate Heddleston
Managers must weed the garden - Results.com

The One Thing that all Venture Capitalists Want - Founders Institute, Mike Maples (video)
Employee engagement requires difficult conversations, sometimes - Results.com

The only ones among you who will be really happy are 

those who will have sought and found how to serve.

Albert Schweitzer

I have only made this letter longer because 
I have not had the time to make it shorter.
Blaise Pascal

The predicament that you are in is probably all your fault.  
You hired the people.  You made the decisions.  
But you knew the job was dangerous when you took it.
Ben Horowitz

What you get by reaching your destination
is not nearly as important as
what you become by reaching your destination.

Zig Ziglar

It has been my philosophy of life that 
difficulties vanish when faced boldly.
Isaac Asimov

The greatest challenge to any thinker is

stating the problem in a way that will allow a solution.
Bertrand Russell

You are today where your thoughts have brought you;
you will be tomorrow where your thoughts take you.
James Allen

What you do speaks so loudly that I cannot hear what you say.
Ralph Waldo Emerson

Genius begins great works;
labor alone finishes them.
Joseph Joubert

The first wealth is health.

Ralph Waldo Emerson

Everyone who got where they are
had to begin where they were.
Richard Paul Evans

I get up every morning determined to both change the world
and have one hell of a good time.
Sometimes this makes planning my day difficult.
E. B. White

Of the two ways to become a billionaire, one is very easy!

There seems to be only 2 ways to be a young billionaire: inherit it, or do a tech startup.

Not much you can do about inheriting it. For inspiration and education on the second way, check out the people on Forbes' list:

http://www.forbes.com/sites/natalierobehmed/2015/03/02/the-worlds-youngest-billionaires-2015-46-under-40/

And when you get through reading the list, you'll probably want to check out the Billionaire Shop where the ultra rich can get their stuff online.

Go for it. But before you go to all that effort to become a billionaire, here's what the richest man in the world has to say about big money:

And then, there's this:

(because, most likely, you already have more than you need)

Be. Do. Have.

:)

Startup Reading 3.22.15

Y Combinator stats for Winter '15 class

Y Combinator stats - Y Combinator

Effectuation Theory of Entrepreneurship - Necrophone
Fire yourself. Rehire a new you - Berkonomics

In Praise of Checklists - Results.com, Stephen Lynch
Are You a Smart Leader? - Results.com

The Importance of Images - RevTap.net

People who tell the stories rule the world.

Plato

When you are through changing, you're through.

Bruce Barton

Mistakes are the portals of discovery.

James Joyce

They can conquer who believe they can.

Virgil

The universe is full of magical things 

patiently waiting for our wits to grow sharper.

Eden Phillpotts

No one can go back and start a new beginning, 

but anyone can start today and make a new ending.

Maria Robinson

It is only possible to live happily ever after on a day-to-day basis.

Margaret Bonnano

The Importance of Images

Sure, you know that images are more important than words, right?  But just HOW much more important? Here's a little test for you.  Read the next few lines of facts about why Images are so important.

We process visuals 60,000 times faster than text
70% of all sensory receptors we have are inside the eye
93% of communication is nonverbal
90% of info transmitted to the brain is visual
50% of your brain is involved in visual processing
Today the average person is hit with 54,000 words/day
Visuals have been found to improve learning by up to 400%
The brain can see images that last for just 13 milliseconds
Our eyes can register 36,000 visual messages per hour
We can get the sense of a visual scene in less than 1/10 of a second
Hear a piece of information, and 3 days later you'll remember 10% of it. Add a picture and you'll remember 65%

Got all that?

OK, now click here, and decide for yourself which is the better way to present those facts.

Why are your communications still so heavily text-based? When are you going to get around to doing that explainer video that you know will make a huge difference in your response rates?


Source: RevTap.net

Startup Reading 3.15.15

20 Great Books for Young Entrepreneurs - Medium
How Much Should You Pay Your Engineers? - Compass.co survey (see infographic below)

The Magic of Regular Feedback - Results.com

Action always generates inspiration.  
Inspiration seldom generates action.
Frank Tibolt

Conduct yourself in Life as at a Feast.
Epictetus

Mediocrity knows nothing higher than itself,
but talent instantly recognizes genius.
Sir Arthur Conan Doyle

Only two ways to get enough.
Accumulate more and more, or desire less.
G.K. Chesterton

I have found adventure in flying,
in world travel, in business, and even close at hand...
Adventure is a state of mind - and spirit.
Jacqueline Cochran

We first make our habits,
and then our habits make us.
John Dryden

There's no such thing as a small act of kindness. 
Every act creates a ripple with no logical end.
Scott Adams

It is what you read when you don’t have to 

that determines what you will be when you can’t help it.  

Oscar Wilde

Knowledge speaks but wisdom listens. 

Jimi Hendrix

Startup Reading 3.8.15

Finding a Problem Worth Solving - Lean Startup Circle
How to run an effective daily standup meeting - Results.com, Stephen Lynch

What's all this nonsense about Transparency in Business? - Results.com, Joseph Cole
The Striking Similarities between Teachers and CEOs - Medium, Aaron Schildkrout

A CEO’s first priority would be reservations of much time 

for quiet reading and thinking 

particularly that which might advance his determined learning 

no matter how old he becomes.

Warren Buffett, 

Berkshire 2014 Letter to Stockholders

To Achieve great things
two things are needed:
A Plan,
and not quite enough time.

Leonard Bernstein

The danger is not that a particular class is unfit to govern.
Every class is unfit to govern.

Lord Acton

Shark Tank

I have watched enough episodes to avoid watching any more of it.

I avoid negativity, and Kevin is a bummer.  There is never a reason to put people down.

Warren Buffett's 6 Investment Criteria for Berkshire

From the Berkshire annual shareholders' letter, 2014:

Berkshire’s Six Investment Criteria

Berkshire makes a plea to hear directly from principals, as opposed to investment bankers, for new acquisitions. Berkshire mandates the following six criteria: 

1) $75mm of pre-tax earnings unless it is a bolt-on transaction; 

2) Demonstrated consistent earnings (no turnarounds or startups); 

3) A track record of a superior return on equity with little or no debt; 

4) Quality management; 

5) Simple businesses; and, 

6) A clear offering price (this needs to be stated upfront).

What is interesting to me is that nowhere in the criteria does it say what sort of products he is interested in. Could be anything! What is important to him is the business case. Period.

Another aspect of his acquisition strategy is that he prefers to pay Cash, not stock.  The value of cash depreciates over time, the value of his stock appreciates.

Startup Reading 3.1.15

Tapping the Power of Your Morning Routine - Jim Citrin, Yahoo Finance
How I Conquered my Inbox with the Trusted Trio - Bob Thordarson

The Daily Routines of Geniuses - Sarah Green, Harvard Business Review
Don't Manage with "What" without "Why" - Berkonomics

3 Lessons learned when developing with the Minimum Viable Product - Lean Startup Circle
10 Painfully Obvious Truths Everyone Forgets Too Soon - ExpandedConsciousness.com

If you think it's expensive to hire a professional,
wait until you hire an amateur!
Red Adair

Those who contribute to the company should own it,
and that ownership should be proportional to that contribution.
J. Robert Beyster, founder SAIC

Think in the morning, 

act in the noon, 

read in the evening, 

and sleep at night.

William Blake

Excess on occasion is exhilarating.
It prevents moderation from acquiring the deadening effect of a habit.
William Somerset Maugham

Being broke 
brings an incredible amount of discipline and focus.
Brian Chesky, AirBnB

What we think, or what we know, or what we believe is
in the end, of little consequence.
The only consequence is what we do.
John Ruskin

You will be the same person in five years as you are today,
except for the people you meet and the books you read.

Charlie "Tremendous" Jones

One should count each day a separate life.

Seneca

It has been my observation that most people get ahead
during the time that others waste.
Henry Ford

If money is your hope for independence you will never have it.
The only real security that a man will have in this world is
a reserve of knowledge, experience, and ability.
Henry Ford

Dedicate some of your life to others.
Your dedication will not be a sacrifice.
It will be an exhilarating experience because it is 
an intense effort applied toward a meaningful end.
Dr. Thomas Dooley

Disruptive? (Doonesbury)