Comments on: The Entrepreneurs Action Toolkit: Turning Lemons into Lemonade

By: Shane

Shane — Tue, 04 Sep 2007 22:57:18 +0000

Hey Nicholas,

That’s true. A lot of entrepreneurs tend to just jump right in. If you can spot a winner a mile away and execute the the idea, it’s pretty easy to create a successful venture.

The next best thing is research, research, research! And if you’re going to put a significant amount of capital into the venture, research is an absolute must.

By: Nicholas Aaron Khoo

Nicholas Aaron Khoo — Mon, 03 Sep 2007 11:13:47 +0000

Great post! I also believe that you must always do your research, in whatever form, to understand how well your business will fare. You may have a killer product, but only a small market willing to buy it at a low price.

By: Freelance Folder » 2007-08-19 - Sunday Links Folder

Freelance Folder » 2007-08-19 - Sunday Links Folder — Mon, 20 Aug 2007 07:02:05 +0000

[...] The Entrepreneurs Action Toolkit: Turning Lemons into Lemonade [...]

By: Shane

Shane — Mon, 13 Aug 2007 22:19:22 +0000

Hey Andy,

Thanks. Selling early (selling first, before buying) is one of my business mantras. It’s a really difficult one for most people to grasp because it’s seems illogical to sell something you haven’t purchased or built yet. The most successful people in business sell before they buy every day.

I think G-mail’s by-invitation-only signup was absolute genius. A lot of social networking sites are doing the same thing these days to build the pre-launch buzz.

By: Andy

Andy — Mon, 13 Aug 2007 10:17:05 +0000

Yet another perfect post! I particularly agree with sell early. The best startups start promoting and signing up beta testers long before they’re ready

By: Shane

Shane — Sun, 12 Aug 2007 22:14:11 +0000

Hey Martin,

Ah, the dreaded ‘P’ word. I’ll try to write something about this soon. Procrastination has to be stopped (as ironic as that is)! haha

By: Shane

Shane — Sun, 12 Aug 2007 22:09:33 +0000

Robin,

Thanks for sharing your story. It’s really easy to get distracted by the money you make with a successful startup. I’ve seen a few entrepreneurs start brilliant ventures, and as soon as they make a few bucks their focus is on the money in their pockets instead of the business.

Happens a lot to young entrepreneurs on their first venture.

By: LOVE this article!

LOVE this article! — Sun, 12 Aug 2007 17:49:42 +0000

The ability to turn lemons into lemonade is one of life’s greatest gifts. I LOVE the way you tied this into business and very simply, at that. At the same time, your point about not not flogging a dead horse was very well stated, as well. No use sucking on lemons just for the fun of it!

By: Online Community Building

Online Community Building — Sun, 12 Aug 2007 16:31:16 +0000

Avoid procrastination and keep it simple – perfect advice. Now, can you give me a fool proof way of avoiding that ‘P’ word?!?

- Martin Reed

By: Robin from FW

Robin from FW — Sun, 12 Aug 2007 10:24:52 +0000

Good post Shane, I also believe one can have entrepreneurial instinct but lack a plan, focus and vision. I am talking about myself here.

Way back in early 80’s when potato chips were just about beginning to become popular, me and a friend started a chips factory (small scale) branded it as GoldWafeez. It was an instant hit in the local market, trust me, we couldn’t cope with the demand. We were having a ball, saw ourselves as future potato kings.

But we both lacked focus and a plan and a Mentor. We had different plans on what to do with our lives and looked at GoldWafeez just a stop gap arrangement. Today when I look back I truly believe we could have been potato kings, last when I spoke to him he mentioned that we should have stuck onto our project. Anyway no regrets on that, I am pretty happy with my life as it is and so is he.

P/S This wasn’t the only project I started and didn’t stick to it. Gives me an idea, I should make a post on this.

Take care mate and cheers.