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Why Entrepreneurs Don’t Learn From Their Mistakes

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Part of the folklore about successful entrepreneurs is that they succeeded because they first failed. “Fail fast,” entrepreneurs are often told, and you’ll learn valuable lessons that will help you in your next venture.

Read full story at The Wall Street Journal

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Entrepreneurship

How Entrepreneurs Are Connecting the World With IoT

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Some have dubbed the Internet of Things, or IoT, the “Intelligence of Things,” and even the “Internet of Everything.” Whatever they call it, there is no doubt that IoT has been steadily emerging and shaping our future. Put simply, IoT eliminates the need for human interaction with other humans or computers to transfer data. 

IoT already has numerous uses — smart homes, connected cars and smart retail to name a few — and it is expected to have an even larger impact on our lives in the future. Gartner reports that in the year 2017, there were more than eight billion IoT-connected devices in the world, while in 2018, that figure surpassed nine billion. It is expected that in 2020, IoT-connected devices worldwide will close to 21 billion.

Read full story @ Entrepreneuer here >>> https://www.entrepreneur.com/article/341451

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The 6 Best Books of the Year for Entrepreneurs (They Make Great Gifts, Too)

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I read about 75 nonfiction books a year. As an author of nine of my own books, I must stay current on what the greatest minds in business are thinking. When a title really sparks my imagination, I contact the authors directly. But I only write about books that teach me something new.

Each of these books taught me something new. I’m sure they’ll inspire you, too. The hardcovers also make great gifts for the entrepreneur on your holiday list.

1. Edison by Edmund Morris

Thomas Edison didn’t just invent the light bulb. He averaged one patent for every 10 to 12 days of his adult life. Edison is the last book written by Morris, a Pulitzer Prize winning biographer who died in May. The book runs close to 800 pages (and gets very technical in places), but it’s a great read for inventors, scientists, and anyone who has a keen interest in the hard sciences and the history of inventions. 

The passages in which Morris describes what it was like to listen to recorded sound for the first time (Edison invented the phonograph) or to see a world illuminated by electric light are reminders of why entrepreneurs do what they do. Light bulbs were “globes of glass that gave off no fumes and sooted no ceilings.” When people heard the phonograph, a “miraculous machine” that recorded and played back a human voice, most couldn’t believe it. “Since the dawn of humanity … the human voice was a product of the body and therefore must die too … but here now were echoes made hard, resounding as often as anyone wanted to hear them again.”

If you choose to listen to the audio book of Edison, you know whom to thank for it.  

2. That Will Never Work by Marc Randolph

In That Will Never Work, Netflix’s co-founder tells the story of how Netflix went from concept to company–and how it nearly didn’t make it. It reads like a novel full of ups and downs, failures and successes.

One memorable story is the time Randolph and co-founder Reed Hastings (Netflix’s current CEO) pitched Blockbuster about a partnership. Netflix was making $5 million in revenue while Blockbuster was making $6 billion. Blockbuster executives laughed the founders out of the room–literally.

On the flight home, Hastings was exhausted, and the two men sat quietly. Randolph broke the silence with a line that became their rallying cry. Randolph said, “It looks like we’re going to have to kick their a**.” And so they did.

3. What You Do Is Who You Are by Ben Horowitz

Horowitz is co-founder of the legendary venture capital firm Andreessen Horowitz. The book is about how to create a business culture, one of the most important things any entrepreneur must do to sustain success. “Your culture is how your company makes decisions when you’re not there … it’s how they [your employees] behave when no one is looking.”

What You Do Is Who You Are is not just a culture book. It’s one of the most intriguing history books I’ve read in the business category. You’ll learn about slave rebellions, the samurai warriors who ruled Japan for 700 years, Genghis Khan, who built the world’s largest empire, and other stories you’re unlikely to find in a standard business book.

According to Horowitz, “Companies–just like gangs, armies, and nations–are large organizations that rise or fall because of the daily microbehaviors of the human beings that compose them.”

Read full article @ Inc here >>> https://www.inc.com/carmine-gallo/the-6-best-books-of-year-for-entrepreneurs-they-make-great-gifts-too.html

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Entrepreneurship

Shaquille O’Neal Discusses Investing, Franchising, and Donuts | WSJ

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