Tag: Entrepreneur

As Jim says, this week has been a very long year. But it is Friday, and while so much is closed, the Three Martini Lunch is open! Join Jim and Greg as they praise the innovation in the private sector (and at universities) to produce new coronavirus tests that are accurate, can be produced in mass quantities, and can deliver results much more quickly. They also love the entrepreneurial instinct in a British teenager who sold his classmates squirts of hand sanitizer. They also unload on communist China for brazen lies like the U.S. military launched the coronavirus in China and for threatening to cut off supplies of much needed medications to the U.S. at our time of need. And they hammer House Speaker Nancy Pelosi for trying to cram a billion dollars for taxpayer-funded abortions into the coronavirus relief legislation.

Carol Roth is a recovering investment banker, entrepreneur and author of The Entrepreneur Equation, the anti-motivational, motivational book about entrepreneurship and a realistic take on starting a small business. She and Bridget discuss the factor that jealousy plays in the tragic loss of the American Dream, being spoiled and ungrateful in a capitalist society, the math and ROI of going to college, and the danger in allowing political correctness to rob us of using laughter as a healing method. Carol talks about how she kept moving forward in the wake of a series of devastating personal losses, her approach to a successful marriage, her horror of emojis, how to combat imposter syndrome and tips on overcoming procrastination. Also, don’t miss Bridget’s unscientific theory that the reason women are more detail oriented than men comes from our hunter gatherer days and her plans for faking her own death. Check out Carol’s podcast, also on Ricochet, here: The Roth Effect with Carol Roth.

Recommended by Ricochet Members Created with Sketch. Entrepreneurial Zeal

 

Some people are born entrepreneurs like my Father. After selling Group Insurance to various small companies in the Midwest, he branched into Pension and Profit Sharing plans, which were the precursors to modern 401K-type Retirement Plans. Many of his clients were accountants doing the books of restaurants, which were being hit by McDonald’s, Burger King, and other franchises in the 1960s. He talked to Colonel Sanders at Kentucky Fried Chicken and built the first KFC in Battle Creek, MI. He purchased an auto brake shoe remanufacturing plant, where I worked during the summer. Later, he had a small outdoor sign business.

There are many articles on serial entrepreneurs, both positive and negative. After selling their company, many entrepreneurs get bored with “retirement” and look to start another business. Sam Farber (the nephew of Farberware founder Simon Farber) started Copco in 1960 as a producer of enamel-coated cast iron cookware. Retiring in 1982, Sam came up with a toy based around crates with accessories such as wheels, making the crates into cars, bookcases, toy boxes, etc. He patented it and developed prototypes. He then tried to sell it to various retail store chains. The furniture buyers said it wasn’t furniture, it’s a construction toy. The toy buyers said it’s not a toy, its juvenile furniture. So his first business after retirement was stillborn. Later on, he saw a new way to package houseware products, which he knew well. And you probably need his products in your house!

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Greetings from Israel. Much reading and podcast listening on my trip (thx Ricochet!) Wanted to share a Goldman Sachs Entrepreneur Summit Podcast which interviewed the CEO of a new company I hadn’t heard of until Rico’s recent podcasts (they advertise on Ricochet): Casper, a fascinating start-up with over 100 employees angling to revolutionize (disrupt) everything sleep. Since […]

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We all must rest from work and life eventually. Someday, hopefully a day of our own choosing, we all have to hang up our hat or hand over our work for others to carry on. This holds true for businesses too, and the products they manufacture or the services they sell. We aim, when we […]

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As the election season heats up, I suspect that the media and many of us will focus more and more on trivialities of individuals running and / or the trivialities of the two flavors of political ice creme available to the public for voting. Passionate appeals will be made for the favorite flavor of rule, […]

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Just finished reading James Pethokoukis’ article: Where Are All the Startups? More in America’s Economic Calcification which followed this years much reported (left-leaning) Brookings Inst. study showing American Start-Ups rates are Declining.  Read More View Post

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What does it say about as authentic a totalitarian as Raul Castro (yes, that Raul Castro) to be found as the money behind a popular local sandwich shop? Here’s the story: For over ten years Paseos turned out over 1000 sandwiches a day at their Fremont location. The thriving cash-only business with a cult-like following […]

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Business owners and those who hope to become one (wantrepreneurs) are a dying breed. First some wonky background: Technically, the U.S. economy is in “recovery”. However, most economists agree growth is anemic and vulnerable. 2014’s first quarter GDP was a mortifying 0.1%, surprising most everyone. Forbes called the growth “glacial”. Now we are informed that […]

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