by investor and entrepreneur James Altucher, June 17th, 2011
James Altucher is a professional trader, investor and entrepreneur. With a degree in computer science from Cornell University, he built and founded StockPickr, which sold toTheStreet.com in 2007, in addition to starting other websites. Through his experience and insight, Altucher began to write about the industry, serving as a weekly columnist for theFinancial Times and other financial publications. He has also authored four books: Trade Like a Hedge Fund, Trade Like Warren Buffet, Supercash, and The Forever Portfolio.
Altucher currently works as a hedge fund manager and columnist for the Wall Street Journal and writes a popular blog, The Altucher Confidential: Ideas for a World Out of Balance,” from which this post is reprinted with the author’s permission.
If you Google “entrepreneur” you get a lot of mindless cliches like “Think Big!” For me, being an “entrepreneur” doesn’t mean starting the next “Faceook”. Or even starting any business at all. It means finding the challenges you have in your ife, and determining creative ways to overcome those challenges. However, in this post I focus mostly on the issues that come up when you first start your company. These rules also apply if you are taking an entrepreneurial stance within a much larger company (which all employees should do).
For me, I’ve started several businesses. As I’ve described in the rest of this blog, some have succeeded, many have failed. I’m invested in about 13 private companies. I’ve advised probably another 50 private companies. Along the way I’ve compiled a list of rules that have helped me deal with every aspect of being an entrepreneur in business and some in life.
Here’s the real rules: