on raising money: “best equity is sweat equity”
Far more often than not, raising cash is the biggest mistake you can make.
on human nature: “all things being equal, we choose the path of least resistance. understanding this concept is key to make good business decisions”
“TV is the path of least resistance from complete boredom.” which is another way of saying that it’s easier to watch TV than to sit there and do nothing.
In business, one of the challenges is making sure that your product is the easiest to experience and to sell.
on competitive advantage: “never listen to your customers”
Part of every entrepreneur’s job is to invent the future. I also call it “kicking your own ass.” Someone out there is looking to put you out of business.
Your customers can tell you the things that are broken and how they want to be made happy, Listen to them. Make them happy. But don’t rely on them to create the future road map for your product or service. That’s your job.