What is it you are attempting to achieve here? You are trying to become rich.

This must be the main focus of your business life. Becoming rich. Not becoming one of the world’s most famous athletes, or taking on Rupert Murdoch in the newspaper publishing and television business. You want to get rich rich. And you want to do it legally and as quickly as you can. “And so I became a magazine publisher. That was OK, but I forgot to keep my eye on the ball. The ball was to get rich. Instead, I decided to become one of the world’s best magazine publishers. Not smart. Why wasn’t it smart? It took me way … Continue reading What is it you are attempting to achieve here? You are trying to become rich.

Sell early

Real money rarely comes from horsing around running an asset-laden business if you are an entrepreneur. You are not a manager, remember? You are trying to get rich. Whenever the chance comes to sell an asset at the top of its value, do so. Things do not keep increasing in value for ever. Get out while the going is good and move on to the next venture. More money is usually lost holding to an asset than is made waiting for the zenith of its value. I should know – it’s my own biggest defect. -How to get rich, p.214 Continue reading Sell early

How to think of an hostile acquisition

Back in the days, Felix Dennis was offered to sell his business to Ziff Publishing and to, together conquer, the European Market. Felix declined the offer, teamed up with VNU to fight Ziff back, it took them everything, 2 years of profit were burned in making sure Ziff’s venture was a failure. Ziff finally gave up after losing millions of dollars. Looking back, does Felix thinks it was worth it? No. Absolutely not. It was stupid. Glorious, but stupid. I would have listened more closely to Phil and Bill. I would have negotiated my balss off. I would have become … Continue reading How to think of an hostile acquisition

You have a partner? Remember to include The Mexican Shootout

In the Articles of Association of a company, both sides agree to insert a clause that governs serious disputes. If the dispute cannot be resolved, then the following takes place: Each side in the dispute, each shareholder who wishes to participate, considers carefully what they would be willing to pay for the whole company. It doesn’t matter how many shares they own, but they must have access to the sum they have indicated, less the worth of their own shares valued on an equal basis. The parties then go to a neutral layer or professional on a certain day and … Continue reading You have a partner? Remember to include The Mexican Shootout