so an employee of mine showed me this quote today and how it related to my point of view.
“Most people think they need to know exactly what they want to do when they start a business, but they’re wrong. If you go into something with a very specific plan, you might be so focused on your goal that you won’t see the promising opportunities that present themselves as you make your way along. Take the blinders off. Look around. Don’t be afraid to go off on all sorts of unusual directions, since that’s where you might just find the most unusual—and promising—opportunities.”
That’s why we changed our focus and became a platform in the virtual currency space. And have had tremendous success thus far. It’s a new, multi-billion dollar market with a bigger challenge and something I feel we can dominate.
- Taken from gWallet Blog
so sick!! I get asked all the time why i am focused on so many things… this is exactly why!! our world is changing and opportunities are short lived…
I think by looking at all the opportunities out there you’ll eventually find one that hits and when it hits it’ll hit big ( 80/20 in action ). Something that worked yesterday might not work today due to the fact that more and more people are connecting & Sharing knowledge. ( Look at Pay per Click. How easy is it now to track a keyword down to a sale? those who realized it was easy started sharing knowledge and now the playing field is being evenly distributed unless new inovated products like MB-X are developed 
) Prosper worked back then for payperclick tracking but now we are starting to see that search is dieing. So how good is keyword tracking now?
The world is has become a level playing field for everyone all over the world. Corporate America is failing because they aren’t acting quickly. You now have young entrepreneurs developing tools & products that can literally be launched in days.. that’s why we can’t fall into the same hole of trying to do things as those before us, our generation will determine the future of how business is done… We are the future and the past is just that!
this is why you shouldn’t be spending weeks on developing products because within that week Vitaly from Ukraine just launched the same thing.
You have entrepreneurs launching products within minutes while Corporate America has to go through this huge ass process in order to get it to market…
so while more and more products show up online and hit record sales that Corporate Business’s thought where impossible.. the more the playing field flattens out.. taking from those who had to those who are more about innovation rather than traditional thinking.
what do you think happens when Adam launches his Acai product and realizes that he never has to work again just by showing others how to do the same.. globalization now kicks in and everyone is on the train.
this causes money to be distributed around the world at a rapid pace and eventually in time changes the way business is done .
take these guys for example: Millionaires Under 30 that made it within what a few years.. How many more you think will show up on this list in the next coming years… a shit load more.
- Mark Zuckerberg is 23 and created Facebook worth $700 million
- Andres Gower is 28 and created Runescape which is worth $650 million
- Chad Hurley is 30 and created Youtube worth $300 million
- Blake Ross & David Hyatt are 22 and created Mozilla software worth $120 million
- Andrew Michael is 29 and created Fast Hosts worth $110 million
- Angelo Sotira is 26 and created Deviant Art worth $75 million
- John Vechey is 28 and created PopCap Games worth $60 million
- Alexander Levin is 23 and created Image Shack worth $56 million
- Jack Nickell is 28 and created Threadless worth $50 million
- Greg Tseng and Johann Schleier-Smith are 28 and created Tagged worth $45 million
- Sean Belnick is 20 and created BizChair worth $42 million
- Matt Mullenweg is 23 and created WordPress worth $40 million
- Kevin Rose is 30 and created Digg worth $31 million
- Aodhan Cullen is 24 and created Stat Counter worth $25 million
- Markus Frind is 29 and created Plenty of Fish worth $23 million
- Robert Small is 24 and created miniClips worth $23 million
- Ryan Block is 25 and created Engadget worth $20 million
- Matt Mickiewicz is 24 and created Sitepoint worth $18 million
- Tom Fulp is 29 and created Newgrounds worth $15 million
- Rishi Kacker and Matt Pauker are 24 and created Voltage worth $12 million
- Catherine and David Cook are 17 & 19 and created My Year Book worth $10 million
- Fredrik Neij is 28 and created The Pirate Bay worth $10 million
- David Levich is 25 and created Iced Out Gear worth $10 million
- Jeremy Stoppelman and Russel Simmons are 30/29 and created Yelp worth $10 million
- David Hauser & Siamak Taghaddos are 24 and created Gotvmail worth $8 million
money in the past was distributed among the rich, now money is being distributed among many tribes! Those who execute the fastest are those while will succeed.
you have most of the younger generation in the US waiting for that new ipod to come out while you have kids in india with Science degrees in quantum physics … you have 24 yr old’s in the US worshiping Britney Spears while the kids in Russia worship Bill Gates!
we have to start realizing that globailization is real and that their are people out there with the same hunger as you.. Its just a matter of who will execute first?
Here is a good video you should all watch on Globalization.. it’ll give u a better picture of why people are being laid off and where things are going.
http://mitworld.mit.edu/video/266
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Jay, the execution part really separates people. Most people may still be habitulize by their habits and will onyl take action when their “plan” is prefect. Seth Godin in his new ebook had this guy saying that capitalism is constantly evolving and we are just in a new generation.
There’s this book called “revolutionary wealth” by 2 social analyists which talks about how wealth will be created next time. Awesome read!
Amen Brotha!
It’s funny as I’m still new to this world, at times with all the projects i have going I wonder if I’m doing it the very hard way, but I share the same view of the world, even if selling a eggs, sugar and flour, don’t work out, need them onhand to make cake which can be sold.
Fail faster is my motto, there are immense indirect benefits that if they don’t break you make you 10x stronger. I’ve burnt $500K and years on bad projects because I and the people around me still believed in the old way of the world, aspring to be giant faceless brands talking at faceless communities
For many that loss would be enough to call it quits. That’s not going to happen again
Along the way I figured out my core and saw people for their core, especially when they were out of place. I’ve also developed a team and experience, and that got me over my comfort zone to start learning what really makes the internet tick.
Few other things to add on.
The pace is accelerating, many opportunities are going to get even shorter lived as the continual game of technology eating itself. Nobody has a crystal ball to see what’s being released tomorrow.
There is a arms race happening online, those who leverage the best of what’s out there (be it training, tools and teams) simply have the equivalent of machine guns in the age of zulu warriors armed with spears and cowhide shields.
Not one of those superstars up there got those values by going alone. They all understood that rapidly delivery, rapid iteration, delegation and automation…AND the power of being a part the community. This last part is what most don’t get as it wasn’t really possible until recently.
The market is expanding. like BIG BANG expanding.
We aint seen nothing yet. We are just at the VERY beginning. As far as we’ve come, and amazing as the internet is, put into the and while the wild west days are mostly gone, we’ve barely hit the industrial age, like many still use candles and don’t have running water days. Geolocative, Mobile phones, Immersive media. It’s impossible to imagine or predict.
Correspondingly we’ll see more millionaires faster than ever before, e.g. milliondollarhomepage, while a one and done type thing, the fact that it was possible at all and actually worked is mind boggling.
Now the Sad part. 97% (most likely 99.5%) of the people just don’t and won’t ever get it. It’s not just those who get lost in Lost, even the rock-star Soloprenuers are toast, as they don’t understand that maybe only 3-5 good enough employees can best them in the internet wrestling wring.
It’s been so hammered in to us over the last 100 years people and companies trying to be oldschool, giant faceless brands talking to faceless communities won’t change until that generation dies off. They don’t understand people kick vending machines when they don’t work but they don’t normally kick humans. Street corner homeless people beet red faces rant at the crowds all day spewing out tomes are mostly ignored as background noise. But a friend asking your for a favor even in the space of an SMS or twitter, can result in a landslide of support. The internet is about humans talking to other humans.
Troy.
P.S. love those Mit videos. Heh, now I can say I attended MIT
P.P.S. Damn Dissapointing how few females are in that list.