Inc.com

Research suggests aggressive behavior in teens is a key ingredient in the recipe for entrepreneurship.

Delinquent teenagers turn out to be some of the most successful entrepreneurs, when their risky tendencies are accompanied by traits such as high learning aptitude and a strong family background--at least, according to new research.

The paper, published by Berkeley’s Haas School of Business with the London School of Economics, specified that youths who engage in more aggressive, risky, and illegal activities turn out to be more lucrative entrepreneurs, both in terms of success and finances.

Researchers culled the data from the National Longitudinal Survey of Youth-1979, which surveyed 12,868 individuals aged 15 to 22 in 1979, and the Current Population Survey, a joint effort from the U.S. Census Bureau and Bureau of Labor Statistics. Researchers used these tools to examine participants' cognitive ability, self-esteem, self-determination of control over their lives, the degree of their participation in illicit activities, and earnings regressions.

“Since entrepreneurship involves innovation, it also involves doing something different and not doing exactly what you’re told to do,” said Ross Levine, a co-author of the paper.

“Certain behavioral characteristics—getting in trouble, doing drugs, taking things by force—these types of behaviors, which are not looked upon favorably when someone is a teenager or later in life, also seem to signal that this is an individual who may be more likely to not follow simple norms, think outside of the box, and be aggressive in a competitive marketplace,” Levine explained.

Specifically, the paper noted it’s 40 percent more likely that these individuals were once stopped by the police and they were two times as likely to admit to taking something by force when younger.

Of course, Levine said, merely engaging in aggressive, illicit behavior as a teen doesn’t solidify future success as an entrepreneur. He explained that it’s a portfolio of characteristics, such as innate intelligence, a secure family background, and a sound education, that combine with a risky youth to produce entrepreneurial success.

Flattered to be asked to respond to an RFP? You shouldn't be. Here's why they're bad for your business.

When a potential client issues a Request for Proposal (RFP), it can be tempting to throw your hat in the ring. But responding can dilute your brand, undermine your credibility, shave your margin and ultimately devalue your company when it is time to sell. Here are seven reasons to take a pass the next time you’re invited to respond to an RFP:

1. Tendered business doesn’t stick

Even if you win the work, the same rules that forced the company to tender the RFP in the first place will kick in again and force them to host another beauty contest next time, no matter how good a job your company does.

The value of your business is linked to how repeatable your model is. Acquirers consider RFP-won business as risky and they’ll likely discount the revenue as “one off.” By doing RFP work, you’re running on a hamster wheel instead of building value.

2. RFPs dilute your differentiation

Responding means you are agreeing to be shoved into a box with a bunch of half-rate competitors who compete on price. You’re better than that.

3. RFPs cut your margins

The RFP is structured so that the customer designs the specifications of the job and then you explain how cheaply you can deliver their specs. The buyer is trying to get the very best price using an apples-to-apples comparison. Do you want to compete on price? If so, don’t expect to sell your business.

4. They decide the rules, not you

The role of an entrepreneur is to conceive of what the market does not know it needs. Nobody thought we would need a thousand songs in our pocket, but Steve Jobs wasn’t reacting to customers’ requests. He was leading them to something better. By responding to an RFP, you let the customer decide how you do your job. Great companies lead their customers--they don’t follow them.

5. They’re rigged

Most RFPs are sent out so the decision maker can say they tendered it. Buyers feed secret information, hints and suggestions to the company they want to win, and more often than not, the decision is made in someone else’s favor before you even submit your proposal.

6. RFPs send the wrong message to your people

When you decide to respond to an RFP, your staff will scramble around pricing the job, writing prose and giving away your intellectual property. They’ll wonder why you don’t have the stones to stick to your business model and why you are willing to let a customer manipulate you like a marionette.

7. RFPs undermine your company's sellability

We recently did some analysis of the users of www.SellabilityScore.com and discovered that companies with a unique product or service were much more likely to get an offer from an acquirer than those businesses selling a commodity. Acquirers like buying companies with a defendable, long-term advantage that gives them pricing authority.

But what if your industry relies on RFPs for work? Then change the definition of what you do from being in the XYZ industry to being the world’s best maker of whatever product or service you sell. Next time you get an RFP, reply with something like this:

Thanks for considering us for your important new project.

Here at ABC Widgets, we offer the world’s finest widgets using our advanced seven-step widget making process. It’s a unique system that that allows us to create widgets that keep our customers coming back for more.

If you’d like to discuss how our unique widget making process could benefit your project, we would be pleased to meet with you.

Four things will happen when you send this note:

1. You’ll spend all of 30 seconds writing it and you won’t waste another moment on the “opportunity.” You’ll go back to serving real customers who actually spend money with you and care about what makes you special.

2. Your staff will be emboldened – proud to work for a company with a vision and the courage to stick to it

3. You’ll elevate your status in the mind of the buyer. They’ll realize you know better than to respond to their commoditization call. They may not respond to your offer to meet, but they’ll be curious to see what you have under the hood.

4. The buyer will probably pick another vendor who will be an unimaginative bottom-feeding company desperate for work. And the customer will get what they paid for: cheap output from a cheap company. Chances are next time they’ll skip the RFP process and call the one company who told them where to stick their RFP.

Being a know-it-all is a great way to make people question your common sense.

When it comes to credibility-building, the three most powerful words in the English language are: "I don't know."

Many salespeople and most managers think that they'll lose credibility if they admit ignorance, especially about something about which they "ought" to know. However, the exact opposite is the case.

Admitting ignorance makes everything else you say more credible. Admitting ignorance marks you as a person who's not afraid to speak the truth, even when that truth might reflect poorly on you.

Needless to say, the "I don't know" should be followed by a plan to discover the information that's required, if the issue is truly important. And you WILL be judged on whether you deliver on that promise.

But here's the thing: people dislike a know-it-all. They can often sense, at a gut level, when they're being BSed. Even if they're taken in, when they find out (as usually happens) that they've been BSed, they never trust the BSer again.

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More evidence that start-up culture isn't just a coastal phenomenon: Research shows these cities are hopping with tech expertise.

Silicon Valley and Silicon Alley still get most of the attention now, but a slew of unexpected cities are aiming to give those areas some serious start-up competition.

Governor John Hickenlooper of Colorado, for example, believes that his state has what it takes to become the countrys next technology hub. On Wednesday he announced a partnership with prominent state business leaders to create a $150 million venture fund supporting entrepreneurship.

Of course, its no secret that Boulder, Colorado, is home to a booming tech industry; the city boasts satellite offices for companies like Microsoft, Hewlett-Packard, and IBM as well as the accelerator TechStars Boulder and a growing start-up community. Its a prime location for young people and entrepreneurs, Hickenlooper says.

I think every community is competing [with Silicon Valley], Hickenlooper told Venture Beat on Wednesday, citing the Colorado Rockies, a progressive public education system, and great music venues as reasons for techies to ditch the Bay Area and move east.

But maybe he shouldnt count those chickens just yet.

Last month, the Brookings Institute released a series of data on patenting that suggests there might be underrated innovation hubs--like Boulder--all over the country.

According to Brookings patent and innovation research, cities like San Jose, San Francisco, and New York still produce more patents than anywhere else in the United States--San Jose alone receives an average of 9,237 patents per year. But underdogs like Burlington, Vermont; Rochester, Minnesota; and Corvallis, Oregon produce more patents per million residents than the traditional tech hubs.

In other words, these smaller metro areas have higher patent-to-resident ratios than the big cities. Burlington produces an average of 3,951 patents per million residents in a year. San Francisco? Only 1,638.

In the research, the Brookings Institute suggests that the presence of nearby research universities, a scientifically-educated workforce, and collaborative values may all play a role in a community's proclivity to innovation.

Plus, starting up outside of Silicon Valley could mean less competition--and more funding--for your business.

So if youre planning to launch a technology company, perhaps you should heed Hickenloopers advice and consider moving to Boulder--but dont forget to check out Burlington, Rochester, and Corvallis while youre at it.

Jody Thompson, the creator of Best Buy's flexible work program, talks about why the company's move to eliminate it is a bad idea.

News that Yahoo will begin requiring employees to come to the office five days a week has sparked a heated debate over workplace flexibility. Now Best Buy has entered the fray, announcing this week that it would end its workplace flexibility program, known as the Results-Only Work Environment, or ROWE. Jody Thompson and Cali Ressler developed ROWE in 2004 when they were HR managers at Best Buy. In 2008, Thompson and Ressler launched their own consulting firm, CultureRx, which has trained some 50 companies in adopting results-only work environments. Thompson recently spoke with Inc. senior reporter April Joyner about Best Buy's decision and why she believes a flexible work environment gives companies an advantage, even in difficult times.

How is a results-only work environment different from telecommuting?

Telework, working from home--any program like that is managed flexibility. What that means is, I'm supposed to be in the office from 8 to 5, Monday through Friday, but I want to be flexible, so I have to ask for permission from my boss. In a results-only working environment, you're free to do whatever you want, whenever you want, as long as you get your job done.

Have you seen other cases where a results-only model needed to be modified or suspended when companies, like Best Buy and Yahoo, are facing difficulties?

A results-only work environment facilitates improving results, because that's what it's all about. There's a deeper problem going on here with organizations like Best Buy and Yahoo. What they need to be doing is having objective conversations about the work, not subjective conversations about where people need to work. In a results-only work environment, the only thing you can take away from somebody is their job, because they're not producing results.

Can this approach work for any company?

A results-only environment works for every single person on the planet. It's not a flexibility program. It involves thinking about your work and how to accomplish it, and then being where you need to be to make that happen. Now, you might say, "What about a bus driver?" Well, if the bus driver doesn't give you his route, and the people aren't happy, then he hasn't achieved his results. There's always a measure of results, and you hold people accountable to that outcome. We've worked with companies in child care, manufacturing, a nursing home, education. It works anywhere.

What about the idea that communication happens more easily and spontaneously when people are in the same room?

Here's all I have to say: Skype, instant messaging, texting, Google Hangouts, Facebook. The whole idea of the water-cooler conversation is very, very outdated. Today, the water cooler is virtual. We're Skyping, we're IM-ing, we're texting, we're moving ideas around as fast as the speed of light. When you tell someone the only way they can be spontaneous is in the office, you look like a fool, especially to the next generation. Tell someone that's 22 years old that they have to come into an office to be spontaneous. Come on.

Do employees give notice that they'll be out of the office?

You're never out of an office, because you have email, and you can get email from anywhere. That's one of the hardest things for people to get over, when we're doing training for organizations. We're so trained to tell our boss where we are, and that's a big hurdle. Once you stop doing it, everyone feels like an adult, because now they're focused on what matters--getting work done and interfacing with people in a way that makes sense. The office is not the default location, so you don't feel guilty.

A New York Times story suggested that telecommuting dampened Yahoo's office culture. Do employees in companies that adopt ROWE ever find social interactions lacking?

When you're used to being in an office and seeing people every day, and you all of a sudden have this different sort of freedom, people start to become closer to the people that they want to be close to. So instead of having my workplace be my family, my family gets to be my family. People have told us that they become closer to their kids, their friends. The people at work, you still have a relationship with them, but they don't have to be your friends. You have to have professional relationships, but I don't need to know everything about your kids.

It sounds a bit transactional.

It does, but people are social. Because you're not forced together every day, all day long, relationships with co-workers actually get better. When I was in the office every day, there were some people I really liked, but some days they drove me nuts, because they kept stopping by, they kept interrupting me. But when you have the ability to interface with someone on your own terms, you can have coffee, you can have lunch--but you get to decide that.

Will companies continue to embrace workplace flexibility?

We're working with organizations in the U.S., Canada, and the U.K. There are organizations all over the world now that are understanding that the future is not about the workplace, but creating a workforce. It's not about managing people, but managing work. Best Buy is making a big mistake, because they're going to treat everyone like children who have to ask, "Captain, may I?" But they're still not going to be clear about results.

One health care entrepreneur espouses the legislation's virtues, even if it means more government involvement in business.

I'm sure you're watching closely as the Affordable Care Act (ObamaCare) is being rolled out. It's critical to you if you provide health care to your employees; health care is a cost that always goes up and can hurt your bottom line.

While the new law isn't perfect, I think it's a good thing. I lead a health care services firm, so I can look at this issue not only as an employer, but as an insider to an industry going through massive change.

Here's why I think you should embrace President Obama's health care changes, too:

1. Health care is a right.

I believe health care should be available to all Americans so I'm glad the government is mandating everyone get coverage. While not quite universal coverage, the new law will require people to have coverage or pay a penalty. Much of the country's health care costs today are incurred because people are uneducated about their own health care, or flood the emergency room for non-emergency care. Even if the Affordable Care Act means more involvement from the government in daily affairs, nothing is more important than health care.

2. The system is broken.

The health care system the U.S. has today is not sustainable. Health care providers are paid based on volume, not value. The more tests they order and the more procedures they do, the more money they make. The new laws are moving to a value-based reimbursement model that will pay providers based on cost, quality, and service. Hospitals and doctors will suffer significant financial penalties if their patients are not "satisfied" with their care. It's about time!

3. Incentives are being realigned.

With the formation of new health care entities called Accountable Care Organizations, I'm seeing new businesses sprouting up throughout the U.S. that are willing to be "at risk" for their reimbursement from the government. They'll be paid not just to be efficient in their care, but by achieving quality metrics as well. As a consumer, you'll benefit from a more coordinated approach to care, and an industry that will hopefully move from being reactive to proactive in serving its customers.

4. The industry is starting to focus on customers.

In health care, I believe there has been little regard for the experience of customers: the patients. If they achieve a particular clinical result, many providers behave as if their job is done. I'd like to say that the industry is becoming more patient-focused because it is the right thing to do, but truthfully, it's the economics that are driving it. I'll take it anyway. The good news is that you'll start to see your provider caring for you and your family in a different and better way from the time you need health care to long after you are discharged from the hospital.

5. Personal responsibility is essential.

As a leader of a company that has employed thousands of people over the years, I have seen great lethargy when it comes to people taking responsibility for their own health care. Only by constant education, prodding, and even incentives have I believe I've been able to encourage my own employees to take better care of themselves. So I'm not encouraging a handout from the government; individuals have to take part in managing their own health. That will serve them and their families well and eventually remove cost and waste from the system.

6. You have an obligation to employees.

As a business owner, I take great pride in knowing I have contributed to the wellness of those I work with. I know it costs the company more every year to do it, but I consider that both an opportunity and a challenge. If I'm going to build a culture that commits to enhancing the lives of the people I work with, helping them manage and pay for their health care is an obligation I accept. So when the CEO of Papa John's complains that the new law will make him switch to part-time employees--so he can avoid paying for health care--I think he's irresponsible. He says his only other option is to charge $.10 more per pizza.

I don't know about you, but I'd gladly pay more for a slice, if I knew that the pizza company paid its pie tossers well.

Why do I find a TV show about a Las Vegas pawn brokerage so interesting? Rick Harrison, the store's owner and show's hero, is all the inspiration I need.

Hundreds of channels, countless TV shows, and for some reason I keep finding myself drawn to the Pawn Stars on the History Channel. Why do I find a show about a Las Vegas based pawn brokerage so interesting? It's Rick Harrison, the store's owner and the show's hero.

I know why I connect with Rick. He's very familiar to me. He's like many small business owners my age. He's stuck between generations. Lurking behind every transaction (and with a twinkle in his eye) is the "Old Man." Make no mistake about it, the Old Man is keeping a watchful eye over things and Rick takes great comfort from having him around. The Old Man is respected, knowledgeable, but showing his age. And coming up the ranks is the son who represents the store's (and our country's) future--assuming he can take the time out from playing video games and riding his motorcycle. The son has potential but is green and still lacks maturity. So in the end, it's all on Rick's shoulders. Sound familiar? It does to me.

Like every business owner, Rick's entire job is making deals. Most entrepreneurs worry about sales. How do you price your products? Where do you find your customers? But Rick has a different problem. For him, it's not about the sell. It's about the buy. How much should he pay for that baseball signed by the entire 1962 American League All-Star team? Is that civil war rifle really worth $10,000? Can he sell that original painting from Salvador Dali (and what the hell is that painting doing in Vegas, of all places)? Rick buys first, then sells later. But he only buys when's he's darn well sure he can sell--for a reasonable profit. Forget strategic thinking, lean operations, and managerial gobbledegook. Forget MBAs, PhDs, think tanks, and all those super-smart academics at Wharton and Berkeley. Forget all the buzzwords and the romantics who dream of starting up a "dream business" to "change the world." My most successful clients are like Rick. They know how to buy and sell. It's as simple as that.

Rick Harrison is not afraid to say, "no."

Notice that Rick goes into every transaction with a bottom line price he'll pay. Of course he's guessing. But he relies on his instincts. He knows his costs. He knows his market. Every once in a while he'll take a gamble, but even when he gambles, it's never more than he can afford to lose. Smart business owners never bet the house, even on a limousine formerly owned by Jackie Gleason. And Rick's not afraid to say, "no." He's not afraid to walk away from a deal. No matter how pretty the seller is. Or how cool an item is. If he can't make a profit, he won't buy it. Smart business people don't get swayed by emotions. It's a very black-and-white game for him.

He negotiates openly, and professionally.

Pay attention to his negotiating style too. It's brilliant in its simplicity. He stands behind his counter, hands placed in an open posture in front of him, like a gunslinger eyeing his opponent at the O.K. Corral. But it's not a battle position. His body language is open to any offers. And he always asks the other guy: "So, what do you want for this?" or "What do you think this is worth?" He always lets the other guy make the first offer. This sets the stage. And he rarely accepts the first offer. That's no fun. When Rick counter-offers, it's almost always with an explanation. And this is his strength: he's not a jerk. He's a good guy. And his explanations are genuine. He always gives reasons. He doesn't put on airs. He treats his customers with respect, even when their asking price is completely out of the ballpark. So many business owners I know view their customers as the enemy, looking to suck every last dime out of their bank accounts. Rick doesn't let things get that personal. And that's the right attitude.

He's fair.

No matter how the negotiation ends, everyone walks away a winner. Or at least not feeling like a loser. If a guy expects to get $10,000 for a baseball card but only walks away with $500 he understands why and he almost always still feels like he got a deal. If no deal happens then there's a legitimate reason. There's no name calling or pointing of fingers. No one thinks they got swindled. Rick very frequently pays a little more than he hoped to pay. In fact there have been a few instances where Rick paid more than the asking price because that was the fair thing to do. Imagine that. If only our leaders in Washington had the same attitude.

He's no faker.

The funniest part of the show (to me) is when Rick speaks directly to the camera and gives us a detailed history of some obscure historical artifact brought into his store. Oh c'mon, you're not fooling us, dude. We know you've been fed these details by the research team at the History Channel. You're a pawnbroker from Vegas, for God's sake, not a Harvard professor. But that's OK. Because when Rick gets down to doing business he's more than genuine. When it comes to figuring out a fair price, he's quick to admit when he doesn't know something. And somehow, in a town known for Celine Dion, strip shows, and all-you-can-eat buffets, there's no shortage of experts-in-the-field who suddenly appear and help appraise items brought into the store. Rick's honest and doesn't pretend. He does not come across as a genius-in-his-own-mind. That's the kind of guy you want to do business with. And that's how I want to be too.

He truly enjoys his work.

Finally, and most importantly, Rick has fun. You can tell he genuinely enjoys the deal-making back-and-forth. This is not a chore to him. It's sport. I see so many business owners that are miserable all day long. They complain about all the "headaches" they get running their businesses. Rick has his headaches for sure, like the hilarious Chumlee who I'm sure would not be employed if he wasn't so funny on the show. But when Rick's behind the counter, looking at a potential buy, and negotiating with a customer, he's having a good time. You should be like this at your job.

All this explains why I'm a fan of Pawn Stars. Like Rick, I'm a business owner. And a salesperson. And my business is all on my shoulders too. My dad passed away a few years ago. My kids are too young to be involved. I have no partners. It's all me. Sometimes it's overwhelming; oftentimes it's rewarding. But when the pressures of running a small business weigh on me I don't look to pundits, gurus, and motivational speakers for comfort. I look at guys like Rick. He's got the same problems I have. But he's doing it. And with a smile. That's all the inspiration I need.

A new study shows that Facebook users' perceptions differ from their reality. Most users have a larger reach than they think.

Think that guy you worked with six years ago who always likes your Facebook statuses must be the only one seeing them? Think again.

A new study from the Stanford University Computer Science Department and Facebook data science team showed that the majority of Facebook users are reaching more than three times as many people as they think. An analysis of the activity of 220,000 U.S. Facebook users over the course of June 2012 demonstrated that each post is seen by approximately one in three of a user’s friends.

Additionally, researchers explored the disparity between Facebook users’ perceptions of their audience and the statistical reality, and likened communicating via Facebook and other social media sites to “speaking to an audience from behind a curtain.”

Some other highlights:

• Facebook users consistently underestimate their audience size, believing their posts are seen by just 27 percent of the number of users actually viewing them.

• About 50 percent of participants in the study expressed a desire for a bigger audience, yet all of them had estimated a far lower volume of viewers than they actually had.

• People who don’t regularly “like” or comment on your posts are still reading them. “Social systems have more viewers than contributors” stated the study—meaning that most people receiving your posts aren’t actively responding to them.

With budgets still tight, companies are reluctant to adopt new technology without a compelling reason. Sales guru Tom Searcy shares five approaches that will help you make the sale.

Recently, I had a chance to connect with John Diaz from iQuoteXpress to discuss the changing world of selling technology. It used to be that selling technology was all about software demonstrations and business case presentations. Actually, it still kind of is, but things have gotten a lot more sophisticated and challenging when you consider cloud-computing, SaaS, and the high demand for universal mobility. Here are five approaches to selling technology in this new environment.

1. Focus on the transition

How fast an organization is able to implement a new technology solution is critical to its real value to the buyer. Everyone can demonstrate the functionality of the technology. The real value driver is this: How are you going to get this technology implemented in the smoothest and fastest way possible? Showing your change-management strategy is a compelling way to get people moving forward on a technology buy. End-users drive the real value to a company, not the IT staff. Make certain that you have a clear way to communicate how you will accelerate use by end-users and you will have a better chance of winning.

2. Focus on other metrics besides ROI

The trouble with ROI business cases is found in the assumptions. Most of the time, no one really believes them because the metrics are unrealistic. Instead, provide a business case that demonstrates these metrics:

• Adoption Rate--How many people convert to the use of the technology
• Utilization Rate--How often is the solution used compared to prior solution
• Function Penetration Rate--How many of the functions are used

Buyers are savvy enough to know that these components will drive the real business case. Include them in your calculation and your ROI may go down, but your credibility will go up.

3. Help your customers make the leap

Technology in the workplace is shifting toward a cloud environment, where more businesses are housing their customer relationship management and enterprise content management solutions. A SaaS model is one of the growing technological solutions that allows companies to host their own cloud infrastructure and integrate as many processes as they want into the platform. For some companies, SaaS may seem like a future initiative rather than an immediate opportunity. Showing them how to make the leap, even if it is for a single application, can open the door for change.

4. Understand their business as well as you understand your solution

Business decision-makers don't want to feel like they are getting the run-of-the-mill sales pitch from companies when they are learning about new products and/or services. Sales professionals need to research the company and provide specific examples of how the new tools can positively impact their business. Personalizing the sales approach will give those making the pitch a better opportunity to turn leads into new clients.

5. Get their fears out on the table

If you ask a prospect about their questions, you will get technical and business queries that may increase understanding, but not necessarily increase likelihood to purchase. You have to ask the harder questions to get at the real resistance if you want to be successful. Some examples include:

• Which department do you believe will find implementation of this solution the most difficult and why?
• Where have past technology solution implementations run into trouble and why?
• Is there a horror story of technology in your company that is often used as the example why something should not be bought? If so, can you tell me about it?

The key to successful branding? Figure out where your passion and talent intersect.

Successfully establishing a brand is a vital exercise at a time when, according to the U.S. Small Business Association, 55 percent of new businesses fail within the first five years. Unfortunately, many busy entrepreneurs put branding on the back burner.

Making your brand stand out is easier than you might think. To do so, you must find your zone of genius--that is, where your greatest passion meets your innate talent. Your zone is unique to you, fitting your personality traits like a finely tailored suit. When you're in it, you get so lost in your work that don't notice time passing. As a small business owner, your brand should reflect this, standing out to potential clients and competitors as something that is truly authentic.

Uncovering your zone of genius starts with the understanding that innate talent, for this purpose at least, is not about what you do, but how you do it. Typically, people equate talent with what they do--singing, playing a sport, or performing surgery. But true talent has more to do with how you approach your work. How many of us would prefer to choose doctors based their unique approach to health, diagnosis, and medication, rather than their education and location? I certainly would. As consumers, we crave this information, which is why referrals are so powerful. We want to hear about people's experiences with a physician, product, or service. For companies, the key is describing the experience your customers will have using your product or service through copy, titles, taglines, and descriptions. If you do, you'll make the buying process that much shorter for your customers.

How do you identify your greatest passion? It's an activity that you could do for countless hours with joy. This is not always straightforward, but can be embedded in your psychology and linked to your personal journey. One of my clients, Susan, recently told me about her father, who was a well-respected CEO of a prominent business. "He was known for being the best," Susan told me. Likewise, Susan developed a deep passion for being "the best" at whatever she was doing, while helping others along the way. Any environment or activity that gives her the ability to be the best and help others be their best provides her with endless fulfillment. Susan now has the understanding that, in order to be completely fulfilled, she needs to be helping others be their best. Combine this passion with Susan's innate talent for using a personable approach to create win-win situations, and you've identified her zone of genius.

People have to choose you between hundreds of others. If you are clear about your passion and why you are doing what you’re doing, it provides an additional connection point with your clients. Simon Sinek, the author best known for popularizing the concept of the "golden circle," once said, "People don't buy what you do, they buy why you do it." Identifying your zone of genius can also help you identify your ideal client. No business wants or needs to market to everyone. Your zone of genius provides a level of specificity that allows you to identify the person that is going to connect immediately with your approach and your passion. If you can clearly articulate these in your brand, your ideal client will find you.

Beyond the business benefits of better branding lies the true beauty of finding your zone of genius. Operating in this self-actualized sphere of self-awareness is extremely empowering, and it can make your work a blissful experience. It’s the new American Dream epitomized: making money doing what you love. Because when you are clear to yourself and others what you are exceptional at, you will be better at doing it and your potential customers and clients will be more likely to choose you. Plus, who doesn’t want to work with people who are in their zone of genius? I know I do.

Ten apps you should be using--or, at the very least, learning from.

Mobile searches continue to increase dramatically; in the fourth quarter of 2012 nearly 20 percent of organic search and direct visits came from mobile devices. Many predict mobile will become the primary way people access Google services within the next year or so.

Does that spell trouble for Google revenues? Probably not.

"Google has managed to transform itself into a 'mobile first' company," says Larry Kim, the founder and CTO of WordStream, a PPC technology and search engine marketing software company that just published research on how Google makes money from mobile.

"That's why Google is totally restructuring the way AdWords, its pay-per-click advertising platform, works," Larry says. "Google wants more businesses advertising on mobile so it's making mobile PPC radically simpler... and in the process developing a number of killer mobile apps."

Here's Larry with his look at 10 notable apps:

1. Google Maps

Google's super star app needs no introduction. Google Maps is the leader in the mobile map and GPS space. With quick and reliable directions, Google Maps get users where they need to go, whether traveling by car, public transport, or doggin' it on foot.

On top of their initial map success Google Maps also offers indoor maps (think museums, airports), 3D maps, and a street view feature. Google Maps also has a built-in search option for finding nearby local businesses in your moments of need.

2. Google Now

Google Now is a recent addition to the Google apps team, giving users the latest news and updates for what matters most to them as individuals. It's done through a card selection system where users mark "cards" (basically categories) that they deem important.

Sports junkies can get immediate game updates about their favorite teams, while music fans can get the latest news about concerts coming to their area. Google Now can also track your commute route and tell you the next train you need to catch or which roads to beat the traffic.

3. Google+ Local

Google+ Local lets users locate nearby eateries, shops, and entertainment venues highly rated using the Zagat system.

Some might say it encourages a complete lack of planning that's become endemic of modern society. Others might say it bolsters spontaneity! Take your pick.

One unique aspect of Google+ Local that sets it apart from other what's-near-me-right-now apps is the ability to see nearby food joints that are recommended by your friends in your Google+ Circles. (This would be more exciting if more people were using Google+; at the moment you may be hard pressed to find any pals reviewing restaurants on Google's social media platform.)

4. Google Play Books

Google Play Books is Google's version of Kindle. Google Play Books lets users read their ebooks on the go with selections like New York Times bestsellers as well as plenty of free classics like Pride and Prejudice.

Google Play Books has some nice features, like a built-in dictionary and the ability to sync your bookmarks across devices so that you can continue reading on your phone where you left off on your tablet.

Ultimately though, Google Play Books lacks the shiny bells of Kindle. It feels like an app Google felt obligated to make... but didn't bother spending too much time on.

5. Google Wallet

Google Wallet brings shopping into the future, letting users store credit cards, debit cards, loyalty cards, and gift cards on their phone to be used for online and in-store purchases. Card info is stored on secure Google cloud servers, effectively eliminating the bursting wallet of ages past. Making a purchase is as simple as tapping your phone to an NFC terminal at checkout.

While Google Wallet is a really neat idea, a lack of widespread adoption (of both the Google Wallet app and NFC terminals) has denied this revolutionary payment option the "credit" it deserves.

6. Google Voice

Google Voice is a welcome upgrade to the classic voicemail that comes standard for most mobile users. Google Voice lets users set up their own Google Voice number which can be used to make cheap international calls, customize voicemail messages, send free text messages, and read voicemail transcripts (this one is especially helpful.)

There are more features too, like call recording and call forwarding, which cost extra.

7. Google Search App

The Google Search app gives users the same convenience for mobile search as with desktop search. The Google Search app also contains bonus features like personalized results based on present location, voice capable search options, and the ability to search the Web or phone/tablet contents.

8. Google Shopper

Google Shopper is a price comparison app that's been tricked out with some unique features; the Google Shopper app can recognize products by cover art, barcode, voice, and text search.

Users can compare prices between online vendors vs. brick and mortar locations, read reviews, and more.

9. Google Goggles

Google Goggles is an image-recognition app in which users can snap a photo of a physical object, and Google responds by generating information about what's photographed.

Google Goggle is a pretty impressive piece of appsmanship; right now Google Goggles can respond to anything 2D and can do things like provide historical information about landmarks, translate a foreign menu, and recognize artwork.

10. Google Chrome

Google Chrome is a mobile Internet browser that translates some of the application's most popular features, like multiple tabs and incognito mode, from desktop browsing to mobile browsing. Users also have the option of syncing bookmarks across Chrome browsers, continuing to streamline mobile and desktop while avoiding hiccups.

What's your favorite app on this list? Any thoughts on what you'd like to see Google do next? Let us know in the comments!

(For more apps and analysis, check out WordStream's How Google Makes Money from Mobile infographic.)

In an exclusive Inc. interview, Sir Richard reflects on why some entrepreneurs succeed and others don't.

Video Transcript

00:12 Eric Schurenberg: Your faith in entrepreneurship is legendary and well known. But do you think that in this day and age, in which 50% of the graduates of business schools want to start their own companies, and a lot of people, maybe, who shouldn't drop out of school to start companies. Do you think we're over-selling entrepreneurship and underselling the risks?

00:31 Richard Branson: Look, America will get back on it's feet because of it's entrepreneurial culture. I just came from Necker Island, where we had 30 Internet entrepreneurs who were also keen kitesurfers, and they came down for a week's relaxation, and a week's get-together and discussion. And every one of them, just brilliant, great ideas. And the future big companies of the world are all gonna come from these young entrepreneurs coming up with wonderful ideas. So they certainly should not be discouraged. If they do fall flat on their face, if they find that entrepreneurism isn't for them, I'm sure they're gonna have a much easier job getting a more conventional job in a big company as a result of everything they've learned in their attempt to become an entrepreneur. And so, I think, I absolutely wouldn't discourage people giving it a go. You know, obviously, you have to realize that, something like eight out of 10 people who do give it a go, do not succeed. Go into it with their eyes open. Work really hard to try to make your idea succeed, and if it doesn't, bow out gracefully and either try again or put it down to a wonderful learning experience.

02:06 Schurenberg: You've had a few failures yourself. You talked about Virgin Cola as one. What have you learned from that?

02:13 Branson: What have we learned from failures? I mean, I think the most important thing is not to be put off by failure. I will work day and night to avoid failure, and... If I've tried everything to avoid it, the very next day we'll pick ourselves up and we'll move forward. Our house was struck by lightning, and burnt to the ground. There was nothing we could do about it. Lunchtime the next day, the whole family was sitting down at the table and planning the next house and having fun trying to think of how we could make it better than it was before. And, so there's definitely no point in crying over spilt milk. Just be positive, and see what you can take from it.

After winning Virgin Unite's Screw Business as Usual competition, Raise5 co-founder Shayan Nahrvar traveled to South Africa to meet Sir Richard Branson himself. Here, he describes the experience.

Last March, Richard Branson announced a competition, Screw Business as Usual (named after his book of the same title), to find entrepreneurs who are changing the world for the better. Out of hundreds of applicants, Raise5, based in Chicago, was chosen as the winner. Raise5, founded last year, operates a website on which people can sell services such as proofreading and design and donate the proceeds to charity. As his prize, co-founder Shayan Nahrvar traveled to South Africa on Friday to meet Branson at Ulusaba, Branson's private game reserve. Below, Nahrvar describes his first day at Ulusaba. Later this week, he will write about the remainder of his trip.

Day One: The Gift of Hearing

After a long flight, I arrived at Ulusaba at noon. First, we visited the Bhubezi Community Health Centre, where I was able to meet Richard for the first time. The health centre itself is run by Dr. Hugo Templeman, and it is supported heavily by Virgin Unite and Richard Branson. On the day of my visit, Richard and his mother were working with the Starkey Foundation Hearing Mission to provide hearing aids for over 300 South Africans. Some of the people were hearing sounds for the very first time! I had the opportunity to help people put in some hearing aids and give them the gift of hearing. It was an immensely touching experience.

Wildlife and Good Conversation

Later that day, we went on a safari, where I had the opportunity to see elephants, lions, and giraffes in the beautiful nature reserve in Ulusaba. Then, we came back to the lodge to have dinner with Richard, where we shared great food and conversation. During dinner, we spoke about how entrepreneurship can create sustainable change in the world. We agreed that businesses should have a larger role in helping solve the social and environmental issues. There was also a good amount of lightheartedness and joking.

Richard's perspective was insightful, but I learned a lot just from watching how he conducts himself. Richard is kind and humble. He believes that businesses should be a force for good, a force that addresses today’s social and environmental issues in a profitable manner. That's why he likes Raise5’s online fundraising platform.

A True Adventurer

It's also clear that Richard has a zest for life and an unwavering determination to see positive change in the world. When you speak with him, you can tell he’s a true adventurer with a passion for exploration, whether it’s his interest in the greatest depths of the ocean or his project to visit space with his daughter in the following year. (I met Richard’s daughter and son here in Ulusaba, too. They are very intelligent and down to earth.)

So far, this has been an eye-opening experience. I look forward to the days ahead, where I’ll witness the development of a school, have a group dinner in the bush with Richard, and visit Johannesburg to mentor entrepreneurs at the Branson Centre of Entrepreneurship. I will relay these exciting interactions on the next dispatch.

Depending who you ask, telecommuting is the wave of the future or a drag on innovation. How do you know if it's right for your business?

This week is Global Telework week. Over 100,000 people pledged to telecommute for at least part of this week, through an organization called Mobile Work Exchange. Last year, according to Mobile Work Exchange, 71 percent of the organizations that participated saw an increase in productivity during the week and 75 percent of participating individuals said they were able to accomplish more.

Marissa Mayer might take issue with those stats. Business Insider is reporting that the Yahoo chief used information from the company's VPN records to show that people claiming to telecommute weren't really working, and that's why Mayer shut the program down. Now, Best Buy is the latest struggling company to rein in workers. This week the electronics giant scaled back its well-known telecommuting program, saying the company needs more collaboration. Some employees can still work from home, but only with an okay from their direct manager.

Clearly telecommuting is not something that can be implemented without oversight and thought. If you are considering allowing your employees to telecommute either full time or part time, here are 5 questions to ask yourself.

1. Am I the kind of manager that can judge performance on results only? This is harder than it looks. You have to have clear goals and expectations. Your employees need to be able to clearly communicate their progress and successes. Micro-management needs to go out the window, as you won't be able to see everything that goes into the project. (Yes, you can install keystroke monitoring software and see when someone is logged onto your VPN, but VPN monitoring just tells you when they are logged on, not if they are working, and if you feel you need keystroke monitoring, telecommuting is not for your employees.)

2. Can the work be, reasonably, done from home? Not all work--not even all computer work--can be done successfully from home. Some requires a lot of interaction with coworkers. Some work requires physical equipment other than computers and phones. The reasonableness may also vary with the week and the project. It may make sense for someone to do the month end reporting from home, but not the day to day project work.

3. Are your employees already doing a considerable amount of work from home? According to a survey by cloud software company Mozy, the average employee starts checking work email at 7:42 a.m, gets to the office at 8:18, and continues to check their work email after 6:30 p.m. If this type of things is happening at your office, your employees have already shown they can successfully accomplish things out of the office.

4. Do they have a desire to work from home? Telecommuting is awesome for some people and an utter nightmare for others. It's not something you want to implement across the board. Offering it as an option across the board, though, may not be a bad idea. Don't discount an employee who says, "Gee, I much prefer to work in the office." If an employee's spouse or nanny is home with small, loud children, they may rather stick pins in their eyes than try to accomplish things at home.

5. Will you be able to meet all legal requirements? If your employees meet the Fair Labor Standards Act qualifications to be exempt from overtime, then having them work from home shouldn't be a big problem. However, if they are non-exempt, can you be sufficiently confident in the recording of their hours worked if they are outside the office?

Take a look at the situation in your office and decide if it's a possibility. You can start out slow--allow people to work one day a week from home--and see how it works out. If it doesn't, you can always cancel. But, you may find out that it increases your productivity and your employee happiness.

New York City Mayor Michael Bloomberg spoke at a start-up's housewarming party last night and gave some sage advice.

Before taking the podium to speak at the newly-minted New York City headquarters of Yext—a location software company—mayor Michael Bloomberg took Howard Lerman, the company's co-founder and CEO, aside to issue some sage advice.

"He whispered in my ear: 'be careful or somebody else will eat your lunch,'" Lerman told Inc. "'Anyone is going to be able to swipe your business if you're not paying attention. The way you win is by outworking everyone else.'"

Mayor Bloomberg went on to deliver a four-minute speech at the Yext's "Housewarming" party, a christening of its new 40,000 square foot office. It was a continuation on mayor Bloomberg's push of the Made in NYC brand—an effort to attract start-ups to Manhattan.

As Lerman introduced the mayor, he handed him a hoodie and said, "I know you're wearing a suit on the outside, but that's not who you are. This is an industry where it's all about hoodies, and you're a hoodie on the inside."

As Bloomberg noted moments later, the evening was off to a sassy start, the mayor unafraid to return in kind. As he stepped up to speak, referencing Lerman's shoulder-length, curly hair, Bloomberg said, "My mother would have said you needed a haircut. Congratulations on your new digs; I'm just sorry you're going to have to travel so far to get back to your favorite karaoke bar."

Bloomberg went on to highlight his personal feelings about starting up in New York.

"I can tell you, my company never would have been remotely as successful if we hadn't started here," he said. "We couldn't have attracted all of the right people and the industries that we interface with. If you want the best and brightest, this is where you come. This is the intellectual capital of the world."

Yext allows businesses to update and tailor their location data and then works with search engines, directories, and mapping services to have to keep that information current. It calls itself the next yellow pages. The company said it recently reached its milestone of 100,000 locations, including 10 of the Fortune 100. The company said it has grown to 150 employees and has raised $67 million in capital.

The so-called app economy is said to be worth billions. Sounds promising, right? Here's a reality check.

The promise of the app economy can seem especially alluring to the tech entrepreneur set. Mobile is a hot market. The major smartphone and tablet platform owners have established marketplaces to let you get to customers and in exchange you give up only 30 percent in per-unit sales. That's still better than retail stores. Plus, people are making bazillions. Well, an estimated $25 billion this year, according to Gartner, as reported by the Wall Street Journal.

Now everyone will want to become a programmer and take a chunk of that big number. The problem is, it's a little too early to get excited. That big number is misleading, and most apps will be lucky to make enough to pay for their cost of development, never mind profits.

For years, the media, set off by Apple's trying to tout the advantages of developing iPhone and iPad apps, have concentrated on the total money in the market. Only, there are some caveats.

One is that the $25 billion isn't just money being spent on apps at the Apple or Google marketplaces. It also includes advertising and in-app purchases. That's because Gartner also says that 90 percent of apps are free downloads. Why? Because if you don't charge, you remove a barrier for people to at least try your app.

So, the $25 billion is being spread out over more than 1.4 million apps between both Apple and Google, according to Gartner. Time for some arithmetic: That translates into $17,847 dollars per app. That works out to $214,285 a year, or probably less than two salaries for full-time experienced developers, not counting benefits. In other words, two developers have to build that flashy and attractive app in one month. That's a tight schedule.

Then you have to realize that the average amount listed is just that: an average. App downloads are not a level terrain. According to a report from analytics firm Distimo, in November 2012, the number of apps responsible for 10 percent of iPhone free app downloads was 31. The number of apps responsible for 10 percent of paid revenue was seven. The Journal refers to another Distimo stat that states only 2 percent to 3 percent of the top 250 publishers are newcomers.

According to iPhone app metrics firm 148Apps.biz, in November 2012 there were more than 721,000 active apps in the iPhone app store. Currently, there are 803,137 active apps.

Chances are slim that you're going to make big money on paid apps. So say that you go the free route. That means you need people to keep using your application to see ads and place in-app purchases. Unfortunately, 63 percent of apps that people use daily are different from a year ago, and people focus on about eight apps at a time. Getting and keeping attention is far worse than a crap shoot.

It may be that you could have a hit with a new app. But keep those rose-colored glasses off the bridge of your nose. Not matter how attractive the total number is, making a significant amount of money on apps is a lot tougher than the media makes it sound.

Bring your business to the front of the pack in Facebook Graph Search using a few optimization techniques.

The latest Facebook tool, Graph Search, promises to help users find people who share the same interests, explore their social worlds through photos, and discover music, restaurants, and more. Because Facebook is perhaps the largest public-use big data application, Graph Search has the potential to be incredibly informative. But, like most big data applications, its practical use seems to deliver more value to businesses rather than the individual user. Here are a few ways to use Graph Search to empower your business.

Just like optimizing for web search, there are a number of ways that businesses can optimize their Facebook profiles to increase Graph Search visibility. Here are a few ways to optimize your Facebook Page for Graph Search:

Don't miss out on appearing in business categories. This will add context to your business and help your organization appear in categorical searches. Select appropriate business categories and up to three sub-categories.

Claiming your Place page will encourage check-ins, which improve user engagement.

No more excuses for not completing your Page profile! Make sure to use keywords and relevant content in your About section.

This is more important than ever, considering that modern search algorithms only deliver fresh and engaging content.

Download the Facebook Graph Search Cheat Sheet for the complete checklist and information.

How are businesses using the power of big data behind the Facebook Graph Search today? To find out, I tapped the intelligence of a fellow search and social media expert, Muhammad Yasin of HCC Medical Insurance Services. He uses Graph Search for modeling marketing personas on the world's largest social network.

Yasin starts this process by searching for individuals with characteristics found in the highest-value customers, which can be plugged directly into the Graph Search interface. Then, he uses the extended search feature to show a list of more Pages users Like. After looking beyond the first couple pages of extremely general page likes (like Coca-Cola and Justin Bieber), Yasin can gain extremely interesting insights about his customer base. Brands will learn that all of this information comes at the price of a little bit of smart work, but it's much less costly than focus group research! The insights you can get from Graph Search can be used in future marketing campaigns or simply to add knowledge about your most valuable customer base.

The potential of the largest public-facing big data application hasn't been realized yet. Most of its value now seems to be centered around marketing, which falls in line with all of the traditional channels of monetization for Facebook. Will users adopt Graph Search as a daily-use search tool? Will Graph Search pose a real threat to traditional web search engines? We'll know more once Graph Search is out of beta and released to the entire Facebook community.

Ownership transitions can be tricky. Don't exclude the backbone of the business--your employees.

Once they've decided to sell, most good business owners' next thoughts focus on the impact of this decision on their employees and their welfare. After all, it's more than a simple business transaction they're making; an ownership transition has the ability to radically change an employee's life.

That makes determining when and what to tell employees during the sale process a daunting decision. Although communicating information about the sale may be uncomfortable, it's possible to do it in a way that reassures your workforce and sets the stage for a smooth transition.

Every sale has its own unique challenges and opportunities. But generally, a few common sense strategies can help put both your employees and the new owner at ease.

Like it or not, you can't hide a pending sale from your management team or other key employees. In fact, these people will play an important role in helping you gather information for prospective buyers. Additionally, most buyers want an assurance that key employees will remain with the company after the sale. By bringing them in early, you can gauge their intentions and incentivize them to stay with the company--even if it means offering them a retention bonus. Of course, be sure that they understand the sensitivity of the selling process and be sure that you trust them to keep the decision to sell within the select group of people you choose to include in this inner-circle until you tell them otherwise.

The process of selling a business can be like a rollercoaster ride--just when you think you've found the next owner, the buyer backs out and the process of recruiting qualified prospects starts all over again. Rather than forcing non-key employees and suppliers to ride the rollercoaster with you, it's usually best to wait until the deal is solid before you inform them that a new owner will soon be taking the helm. However, once this point is reached, inform all parties--all employees, vendors and key accounts--quickly along with the necessary messaging to build their confidence in what this means for their future.

It's natural for employees to panic slightly at the news; they might think the worst and that their jobs are likely to go up in smoke. One of the key messages to relay along with the decision to sell is the basis of your motivation to sell. A good reason to sell will go a long way to addressing employees' concerns and build their confidence in the future. As much as possible, inform workers about how each of their positions will be affected by the change in ownership. Change is difficult, so keep the lines of communication open through the final stages of the deal.

Employees should be introduced to the buyer before he explains his goals for the business. For the sake of your workers, it's critical to express confidence in the new owner and his ability to lead the company going forward. That starts with properly vetting your buyer, a topic I discussed in last week's column. Also, in the days and weeks following the initial introduction, the new owner should meet with employees individually or in groups so employees can express their concerns and get to know their new boss on a more personal level.

No one likes surprises. Change requires an adjustment period and employees will react more positively to the news if they feel like they are part of the process ahead of the actual transition. The timeline you communicate should detail when the sale will be made public and when your involvement with the company will come to an end.

Selling a business is never easy. But as hard as it is for you to leave the company, remember that it will be just as hard for the valued employees who will remain with the business after your exit. By communicating as openly and as often as possible, you can minimize their discomfort and prepare your workers for the company's next stage of life.

Ask 10 entrepreneurs why startups fail and you'll get 10 different answers. But there's just one simple cause underlying all of them.

If you ask 10 successful entrepreneurs or venture capitalists why start-ups fail, you'll probably get 10 different answers. That's because there's no shortage of common failure modes:

- They don't solve a big customer pain point way better than other solutions.
- They invent technologies, not products.
- The target market's too small or just plain wrong.
- Their burn rate's too high.
- They try to shoestring it and run out of cash.
- They can't scale.
- They lack of focus.
- Their cofounders clash.
- There are no competitive barriers.

Yup, there are lots of reasons why startups fail and every one of them is valid. But here's the thing. There's actually one basic cause underlying all those failure modes. It's actually quite simple and yet, its implications are surprisingly broad.

Here's the problem: Founders don't often know what they're doing. No, I'm not trying to be flippant here. It's not a crime, just the truth. They don't know what they don't know.

And even if they have the wherewithal to ask smart people the right questions, they get all sorts of conflicting answers and don't know who to listen to. So they end up taking their best shot at a plan and operating more or less in a vacuum. Sometimes that works out. But not usually.

The truth is that, when it comes to startups, there are simply too many variables, too many tough decisions to make, and too many voices and opinions. Moreover, founders can't help but have relatively narrow and oftentimes limited experience. I don't care who you are; that's a tough equation to solve.

I've been around Silicon Valley for decades. I've seen loads of start-ups with great technology and a round or two of venture funding that still managed to languish for years because of bad advice, strategy, and decisions that triggered one or more of the aforementioned failure modes.

Speaking of good advice, here's some to help you avoid that fate:

Go out for funding sooner rather than later. Pitching for angel funding or venture capital is the best way I know to engage some really smart, experienced people in dialog about your company. It's the best way to punch holes in your concept, find the weak points, and get you thinking about what you hadn't considered. And if you get funded, then they've got skin in the game. It's in their best interest to help you.

Get an angel to take you under his wing. Find an angel investor who's willing to be actively engaged, take you under his wing, and fund you to demonstrate your concept. It doesn't have to be one of the big super angel firms, but you don't want a wannabe, either. You want someone who's done a lot of deals with good VCs, preferably in your specific domain. You don't want a software guy to help you with biotech.

Get investors to tell you the cold hard truth. VCs tend to be very polite. Don't let them get away with that. Draw them out. Ask pointed questions like, "What would it take for you to fund this right now?" Then listen, I mean really listen, to what they say and, just as importantly, to what they don't say.

Not all investors are created equally. There are VCs and there are VCs. Some firms are great at mentoring entrepreneurs and making connections. Others, not so much. Not all partners are created equally, either. After all, they're human. Then there are venture arms of product companies like Intel and Google, private equity firms, and debt financing companies. You want early investors that will add value and be engaged. Money's only part of the deal.

Find an outside advisor... or two. Since not every start-up gets funded by a leading firm like Sequoia, DFJ, or Benchmark, you might still need to poke around and find some people you can trust to give you solid advise. Unfortunately, there's no simple rule for doing that. You've just got to work your network and, with any luck, find a former executive in your field who's willing to actively engage with you in exchange for a piece of the action.

The bottom line is this. Some entrepreneurs come up with an idea that goes viral out of the gate and they're off to the races. You should be so lucky. Start-ups are usually a marathon, not a sprint. The sooner you settle into that mode and find yourself some solid advisors you can trust, the better chance you'll have of avoiding all those failure modes.

Want trendy, flavor-of-the-month management ideas? You won't find 'em on this list.

Some business principles come and go.

A company I worked for started so many game-changing transformational programs and then, like a disgraced member of the Politburo, quickly abandoned and airbrushed them out of our corporate history so we could start yet another "business-critical" program that would be abandoned. We referred to them as the "acronym of the month."

Fortunately, there are some business principles you can use forever:

1. Look past the messenger and focus on the message.

When people speak from a position of position of power or authority or fame, it's tempting to place greater emphasis on their input, advice, and ideas.

Warren Buffett? Yep, gotta listen to him. Sheryl Sandberg? Yes. Richard Branson? Absolutely.

That approach works to a point--but only to a point. Really smart people strip away all the framing that comes with the source--both positive and negative--and evaluate information, advice, and input idea based solely on its merits.

When Branson says, "Screw it; just do it and get on with it," it's powerful.

If the guy who delivers your lunch says it, it should be just as powerful.

Never discount the message because you discount the messenger. Good advice is good advice--regardless of the source.

2. Focus on collecting knowledge...

Competing is a fact of professional life: with other businesses, other products, other people. It's not a zero sum game, but it is a game we all try to win.

Smart people win a lot.

Smarter people win even more often.

Continually striving to gain more experience, more experience, and more knowledge is the second-best way to succeed.

3. ...But focus more on collecting knowledgeable people.

You can't know everything. But you can know enough smart people that together you know almost everything.

And, together, do almost anything.

Work hard on getting smarter. Work harder on getting smart people on your side.

How?

4. Give before receiving.

The goal of networking is to connect with people who can provide a referral, help make a sale, share important information, serve as a mentor, etc. When we network, we want something.

But, especially at first, never ask for what you want. Forget about what you want and focus on what you can give.

Giving is the only way to establish a real relationship and a lasting connection. Focus solely on what you can get out of the connection and you will never make meaningful, mutually beneficial connections.

Approach networking as if it's all about them and not about you and you'll build a network that approaches it the same way.

And you'll create more than contacts. You'll make friends.

5. Always work on next.

It's impossible to predict what will work, much less how well it will work. Some products stick--for a while. Some services flourish--and then don't. Some ventures take off--and flame out.

You will always need a next: a new product, a new service, a new customer or connection,

No matter how successful you are today, always have a next in your pipeline. If somehow your current products or services or ventures continue to thrive, great: You will have created a bigger line of products and services and ventures.

That's how successful people weather the storm when times are tough, and become even more successful when business is booming.

6. Eat as many of your words as you can.

If you're always right you never grow. When you look back, one of the best things to be is wrong because when you make a mistake you are given the chance to learn.

(Don't worry. Every successful person has failed numerous times. Most have failed more than you. That's why they're successful today.)

Own every mistake, every miscue, and every failure. Say you made a mistake. Say you messed up. Say it to other people, but more importantly, look in the mirror and say it to yourself.

Then commit to making sure that next time things will turn out very differently.

7. Turn ideas into actions.

The word "idea" should be a verb, not a noun, because no idea is real until you turn that inspiration into action.

Ideas without action aren't ideas. They're regrets.

Every day we let hesitation and uncertainty stop us from acting on our ideas. Fear of the unknown and fear of failure are what stop me, and may be what stops you, too.

Think about a few of the ideas you've had, whether for a new business, a new career, or even just a part-time job. Looking back, many of your ideas would have turned out well, especially if you had given them your best effort.

Trust your analysis, your judgment, and your instincts. Trust them more than you do. Trust your willingness to work through challenges and roadblocks.

Granted you won't get it right all the time but when you let an idea stay an idea, you almost always get it wrong.

8. Learn about squirrel nests.

Yeah, you're hyper-focused. Yeah, you've got your head down and your blinders on. Yeah, you're a 24/7, take no prisoners, failure is not an option gal or guy.

Occasionally we all need to lighten up.

Example: There are acres of woods behind our house. It's like a squirrel paradise. Squirrels are always racing around the yard and scooting across the deck.

When the leaves fall their nests are visible high up in the trees. I've seen their nests for years and always wondered about stuff like what they're made of (besides leaves) and how many squirrels share a nest. One day I stopped wondering and took a break to check it out.

Stupid example? Sure. But it was a fun five minutes that made me appreciate my squirrel friends a little more--and sent me back to work with a little extra oomph.

Once in a while, take the time to learn a little about your "squirrel nests," whatever those might be.

Success is a marathon, not a sprint. Explore. Indulge a curiosity.

You never know where it might take you.