Russ: This is the BusinessMakers Show heard here and online at thebusinessmakers.com. Now it's time for the Aflac BusinessMakers Flashback brought to you by Aflac. Ask about it at work. For this morning's Flashback we're going to feature an all star lineup of some of our prior guests giving advice to aspiring entrepreneurs. First up we have Brian Liu of Legal Zoom.com. Listen as Brian tells us what advice he'd give to an aspiring entrepreneur.
Brian: When you're starting any business be ultra, ultra practical in everything that you do. Always take the more conservative and sure route. Don't take too many chances and most importantly, don't overspend. What I've seen is that most companies, the reason they fail isn't because they didn't have a good idea. They had a good idea. They had a good service, but they simply overspent.
Russ: Okay, and that's Brian Liu, co-founder and former CEO of Legal Zoom.com. Up next we have Carly Fiorina, the former CEO of Hewlett Packard and the first woman to be the CEO of a Fortune 20 company. Here's Carly's advice for an aspiring entrepreneur.
Carly: I think people need to find what they love. Success requires passion. Success requires courage and risk taking and tons of hard word. I did throw myself into every challenge that came my way and I wasn't afraid to answer the door when opportunity knocked and by the time I had come to HP I had been considered and had considered myself other CEO opportunities. So by that time I knew that it was certainly possible if not probable that I would be a CEO one day. The Hewlett Packard opportunity was so challenging and I happen to be a person who loves challenge. I run to challenge. I spent a lot of time talking with the Hewlett Packard board before they and I made the decision. So by the time I arrived there I felt like I had done my homework. I knew why I said yes and I was ready to jump in with both feet.
Russ: And jump in with both feet she did. That's Carly Fiorina, former CEO of Hewlett Packard. Next up the grandfather of modern gaming, the inventor of Pong, the founder of Atari and the founder of Chuck E. Cheese, none other than Nolan Bushnell. Listen to Nolan's advice for how entrepreneurs should face the challenge of a start up.
Nolan: Well I think it's a combination of optimism and determination and problem solving. Virtually every problem can be solved and the problem sometimes is solving them fast enough, but I think that if you just keep your cool and look through the problems, kind of face your fears if you would, most of these problems can be solved and just solve them, get on with it and build your company.
Russ: And build your company Nolan did for sure. Up next Jeff Sandefer, serial entrepreneur and also co-founder and master teacher of the really happening Acton School of Business. Listen to Jeff's serious advice for aspiring entrepreneurs.
Jeff: Well I think the only advice that matters in the end is you have to find your calling. You have to find that place where your most precious God given gifts intersect with doing something that brings you great joy. Something that you would do even if you weren't paid to do it and serves a deep burning need in the world, serves others. The only thing that matters as an entrepreneur is finding your own individual calling and it's going to be special and different for everyone. If you can find that the rest of life makes a lot more sense.
Russ: Okay and that's Jeff Sandefer, serial entrepreneur, former venture capitalist and co-founder and master teacher of the Acton School of Business. Up last in this series we have Judith Cone, former vice president of Emerging Strategies with the Kaufman Foundation. Here is the advice Judith would give to aspiring entrepreneurs.
Judith: If you are not passionate about what you're attempting, stop now. If you're in it for the money, that will not sustain you in the dark hours because there will be dark hours. This is really difficult. So do your due diligence. Really find out if you really care about this because this may not be right for you and find out. Fail quickly, fail cheaply and then if you are passionate about it you have to live in paradox all the time as an entrepreneur. You have to be doggedly determined, but you have to listen to the market. The list of paradoxes for an entrepreneur is amazing. So what research says is your idea's going to morph on the average seven times. So you can't just dig your heels and say 'I know it all.' You have to be a constant learner and you have to listen and be in touch with the market and the customers, but if you're not passionate none of it will work.
Russ: Okay; and that's Judith Cone, former vice president of Emerging Strategies with the Kaufman Foundation. That concludes our all star lineup of entrepreneurs giving advice to aspiring entrepreneurs. You can hear the full interview from all of the all star lineup of entrepreneurs at thebusinessmakers.com. That wraps up this morning's Aflac BusinessMakers Flashback brought to you by Aflac. Ask about it at work. Stay tuned in for our featured guest segment as Billy Ladin, CEO of Internet America, shares passion about his new en devour, PDQMeetings.net. You're listening to the BusinessMakers Show heard here and online at thebusinessmakers.com.
