Damir Perge's Blog: Entrepreneur Insights from the Trenches, page 5

The Idea Hunter and Gatherer

When you are in the business of being an entrepreneur, you must be disciplined enough to hunt and gather other ideas on a continual basis. The process creates a trigger effect to stimulate new ideas in your mind. You should constantly search for inspiration in both related and non-related areas.

It has been proven that ideas begat ideas.[1] Ideas build on ideas that are related to what you are doing already, but it is the non-related connection of ideas, from other fields, that can provide the...

When "Seeing the Forest and the Trees" Leads to a Trillion Dollar Question

If you've read my previous articles you already know I have a tendency to misquote old sayings. But sayings like, “You can’t see the forest through the trees,” is not one of them.

A Business Insider article, Top Facebook Product Bolts, discussed why Gokul Rajaram left Facebook for Square. Gokul was in charge of developing the advertising product that billion of users see on their Facebook pages. I am sure you are one of them. How can you miss the ads? What is amazing is that the Facebook ad pr...

The Reality of Seed Investment Mathematics

When a market goes digital, the initial costs of developing startups, products and services are reduced substantially. However, the expansion and growth costs increase later because you’re competing on the global digital market front. As a startup entrepreneur or seed investor, you’re not worried about that at first. Your main objective is to build startup momentum.

The shift of power is going upstream—away from the investors, to the developers and innovators who create the actual value of the...

How to Create a Simple Startup Reference Point

There is a theory in behavioral economics called prospect theory.[1] One main component of this theory is that people do not evaluate things in absolute terms. They evaluate things, such as price, relative to a comparison standard or reference price.

If I am planning to buy a watch in the $50 price range, the difference between buying the same watch at $50 dollars at one store and the same watch at $30 at another store 15 minutes away is substantial. I may just drive over to the second store t...

Entreprenetics: What You Can Learn from LeBron James About Startup Failure and Success

I didn’t want LeBron James to win. Not because I don’t like him but, living in Texas, I cheer for the San Antonio Spurs. I also like the old man, a great player himself, Tim Duncan. If you didn’t watch the NBA Finals game 7, it was a roller coaster ride of a basketball game. The same kind of ups and downs, twists and turns you might have experienced in your startup or growing business.

LeBron James and Miami won—but there was no luck involved. You could call it a case of what I call skillfully...

Reverse Psychology Marketing: The Power of Being Extraordinary, Homemade and Authentic

If you live in Texas, you eat chips and salsa. I am no exception. The other day, my girlfriend and I were shopping. I was pondering which brand of salsa to purchase to impress the guests we were having over for dinner.

My girlfriend appeared at the end of the aisle, waiting for me so we could check out. She recognized my hesitation and walked up, glanced at the choices and grabbed a jar within microseconds.

“Oh! I didn’t know they were still around. This is the one to get,” she said.

“This one?”...

Entreprenetics: Throw Caution to the Wind

Because of English being my second language, I am often known around my family and friends to reverse or forget a part of some of the classic English sayings. I overcompensate by thinking about the saying and repeating it to myself before I say it out loud so that it doesn’t come off wrong. “You can always tell a cobbler by the shoes he wears,” is one of my favorite top 100 old sayings. [1]

Texas Governor Rick Perry made a classic statement that resonates with athletes when he said, “Business...

Entreprenetics: The Power of Resistance to Disruptive Ideas

Disruptive ideas are not a dime a dozen. So when you do come up with one and begin to develop it, you will experience resistance. The reason is simple. Most people resist your disruptive idea because it is disruptive. I state the obvious.

There are two forms of resistance—external and internal. From an external perspective, you have to protect the psychology of your entrepreneur mindfrom negative influences that can affect how you feel about your disruptive idea.

Knowing you will face resistanc...

The Anatomy of the Business Model Simplified: Non-Linear vs. Linear

There are an incredible number of ways to analyze a business model. One way is to look at it from the perspective of complexity science, which is the study of non-linear systems.

Nature, being organic in form, is a non-linear system—where a small disturbance can create a devastating effect in a positive or negative direction. Overpopulation of one species affecting the food chain of other species in the ecosystem is one example.

"Startups and companies that appeal to the non-linear behavior of...

The Pattern Whisperer

If any trait you should learn to acquire and use as an entrepreneur, it is the ability to see. I'm not talking about the physical act of seeing. What I mean is the ability to see patterns and how they evolve in the future.

What kind of patterns? Consumer behavior, fashion, technology, demographic and market structure patterns are amongst the few to look for in your sector, and sectors related and non-related to yours.

"When you see patterns evolve in your market, you need to move at warp speed...