February 15, 2013
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Bold Ventures
Startup owner forged ahead despite theft of intellectual property
Justin Hartenstein turned his interest in electronics and cars into a business selling custom lighting for automobiles. His Louisiana-based company has survived challenges such as Hurricane Katrina and the theft of intellectual property by an employee who started a competing company. The theft was painful but also motivational, Hartenstein said. "When I felt like I had put in enough time that day, I would keep going, make one last sales call, wondering if [my competitor] was still working," he said. Inc. online (free registration) (2/11)
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Leading the Pack
Manage your talent like a sports team, says former Tyco CEO
Successful sports teams usually have a balanced roster of committed and talented players, says former Tyco International CEO Edward Breen. That's the same approach leaders should take in running their companies, Breen explains. "There's no one individual going to make a company. So I always want to put people around me who I think are better than me, who will challenge me," he says. Knowledge@Wharton (2/13)
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Finance & Growth
Tips for raising money from investors
When designing a fundraising pitch for your company, stay committed to your vision and don't try to tone down the "crazy" aspects, writes Todd McKinnon, founder and CEO of Okta. "Investors aren't listening to see if your idea sounds too crazy or not — every breakthrough idea is at first — but instead, to see if you're aggressive enough to make something out of nothing. That is the essence of entrepreneurship," he writes. The Wall Street Journal/The Accelerators blog (2/14)
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The Whole Entrepreneur
Entrepreneurs weigh in on the pros and cons of blogging
A blog can be a valuable tool for a startup, but only if you are committed to creating content for it, according to Caitlin McCabe, founder and CEO of Real Bullets Branding. "If no one really wants to write it, it will end up neglected," she says. Other entrepreneurs involved in the Young Entrepreneur Council say blogging can attract new customers and show off your personality. RepCapitalMedia.com (2/14)
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Other News
Ideas for Innovators
Look in unexpected places as you pursue innovation
Mike Friton, a longtime shoe designer for Nike, helped to start a group known as the Innovation Kitchen at the company. Friton emphasizes the importance of integrating information from seemingly disparate sources. "That, to me, is when you become an innovator is when you realize that there's more out there than just this small, little niche that you're in," he said. FastCoDesign (2/13)
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Fortune from Failure
How to move past your fear of failure
Don't let the fear of failure paralyze you, writes Martina McGowan. Concentrate on learning from failure by thinking about what you should have done differently, she recommends. "If you fail, you will learn the lesson of how not to do it the next time," she writes. B2C Marketing Insider (2/13)
SmartQuote
[T]he rare commodity in any venture-capital deal is the diligent and passionate entrepreneur involved."
-- Todd McKinnon, founder and CEO of Okta, writing at The Wall Street Journal's The Accelerators blog.
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