This post originally appeared on Harvard Business Review.

Mark Zuckerberg reinvigorated an entire generation when he added nine zeroes to the end of his bank account before he was 30 years old. He made start-ups great again. He showed the world that youth is not a preventative factor of success and that work can actually be fun. This theme of wealth creation while doing something you love is why an increasingly large percentage of graduates are turning to start-ups over more traditional jobs. It might also be why people are quitting their consulting gigs and investment banking positions to pursue a career in start-up land. Just yesterday I ran into a recent Harvard Business School graduate who quit her consulting gig in order to follow her dream at a new start-up.

Unlike big, established corporations or what we might classify as a “steady job,” start-ups present more inherent … Read More »

This post originally appeared on Forbes.com.

If Facebook has taught us anything over the past few years it has taught us this:

1. A hacker culture works to drive accelerated growth in a business. Mark Zuckerberg writes in a letter to his investors, “Hackers believe that something can always be better, and that nothing is ever complete. They just have to go fix it — often in the face of people who say it’s impossible or are content with the status quo.”  It’s hard to argue that this approach doesn’t work. Facebook today has over 850 million people and to give you some perspective, that would make it the third largest continent in the world behind Asia and Africa. So clearly, a hacking culture does help move a business and it’s product forward. But why should a hacking culture be limited to a silicon valley technology company?

2. The … Read More »

This post originally appeared on Forbes.com.

What would you say if I told you I was going to make stick figure cat drawings?

Your first response may be to highlight the fact that I’m above the age of 4. Now what if I told you that this was not a child’s arts and crafts project, but my business idea. Not only is this my business idea, but my sales pitch includes a song and dance called, “I want to draw a cat for you.” What would you say then?

I think many of you would ask me if I’ve lost my mind and that would be a fair question. However, the truth is that absurd business concepts, even dramatically idiotic ones like stick figure cat drawings, can be brilliant, revenue generating businesses so long as they are properly executed.

On ABC’s Shark Tank, a show where investors … Read More »

This post originally appeared on Forbes.com.

Starting a company is a daunting task and taking the first step sometimes seems impossible. I’ve encountered a number of people with the dilemma of “I know what I want to do but I don’t know how to start.” And rightfully so. Taking an abstract idea from thought to fruition is one of the hardest things to do. It’s why the failure rate of new business endeavors is so high. It’s also why most investors value people and execution of ideas above anything else. Ideas are a dime a dozen, but being able to execute on a vision is an entirely different story.

So how does someone actually start a business? The great thing about starting a business is that it requires creativity. Sure, you need to be creative in formulating the idea, but I think what goes overlooked … Read More »

As the news says, today my partners and I over at Spinback are pleased to announce that we’ve been acquired by Buddy Media, the Facebook management system of choice for eight out of the ten top global advertisers.

When we started Spinback the goal was to build the most cutting edge technology that would facilitate conversations and sharing of products. More importantly, we wanted this technology to also track how word of mouth marketing affects new sales and new customer acquisition.

Now as a part of Buddy Media, we will have  all the tools and infrastructure necessary to accelerate our collective mission which is ultimately about leveraging this new social web in new and interesting ways for leading companies around the world.

We are really excited to begin the next chapter and I’ll leave the rest of the details to Buddy Media.

“On to the … Read More »

Both work, right?

Image by jpellgen via Flickr

The market almost fell 10% today and one of my i-banker friends sends me this email chain…

We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and … Read More »

Image via Wikipedia

I heard a story recently that went something like this…

(This is a true story, although the actual conversation below is fake)

A guy calls a reputable consultant for advice. This consultant also happens to be an Ivy League Law School Alumni, successful investor, and successful entrepreneur. Let’s just say he knows a thing or two about business.

The call goes something like this:

Caller: Hey Mr. Consultant. I got a great business that I need help with.

Consultant: Ok, what kind of business?

Caller: I sell hot dogs. I have 2 hot dog carts.

Consultant: You sell hot dogs?? Why the Fu*# are you wasting my time?

Caller: Well, I grossed over $800k last year from just two hot dog stands.

Consultant: Wow, ok. Now you have my attention…

Now, you can only imagine what the next obvious question is…

Consultant: …where are your hot dog stands located?

Before … Read More »

First contracted event

During my sophomore year of college my fraternity was shut down. As a result, all of our events were canceled and to make matters worse we couldn’t even participate in other organized events within the Greek system.

This sucked. It was a huge problem especially for my group of friends who enjoyed going out and doing the social thing.

But where there was a problem, there was also a solution.

At this point in time, my friend and I decided to build a college marketing company that would encompass three themes: (i) host events in a safe and secure environment (ii) be honest and upfront with our partners and vendors (iii) create recognizable and memorable marketing events that would promote the company brand in a positive and unique light.

In the short … Read More »

About a month or so ago I had a conversation with a VP from Goldman Sachs. We talked about work hours versus compensation in the investment banking world. We also talked about how he was seriously considering leaving the banking world to pursue an entrepreneurial endeavor. The conversation could pretty much be summed up by this graph:

Until recently, many undergrad and graduate students had one career and one purpose in mind: Work for an investment bank – make a ton of money (most of which came from big bonuses).

Today, those huge bonuses are gone yet some people are sticking around these jobs thinking that one day the tide will turn and the bonuses will be back. Part of me believes this is true, that history repeats itself, and one day big paydays will be back (it’s only a matter of … Read More »