Category Archives: Personal Development for Entrepreneurs

Human potential is so much greater than we realize. Nothing in life is more inspiring than the knowledge of great possibility and hope.

Being an Entrepreneur – Curse or Blessing?

Image from www.entrepreneurialdaddy.com

I have been away from my writing for quite some time. I have struggled to find the time. I have struggled to find the words. I have struggled to find the inspiration because I am in the middle of starting a new business and it is tough. Really tough.

There are a thousand things that I need to be doing at all times for this startup business. There are people I should be calling. There are plans I should be writing. There is social media buzz that I should be creating. There are investors that I should be cultivating. There is a huge uncertainty hanging over me and also there is a real shortage of cash. This lack of cash is the curse and the constant companion of all early-stage entrepreneurs.

Because I am an entrepreneur, I have my freedom. Freedom to choose and freedom to act. Because I am an entrepreneur I have the ability to create and to manifest from my efforts. I can take full responsibility for my situation without anyone else to blame. This provides a fantastic platform for personal development and constant growth and improvement. There is even the potential for big economic rewards if I am successful in creating value.

Tempting are the thoughts of getting a real job, having a steady income and a regular paycheck. Tempting is the false illusion that this would give me safety and satisfaction. After all, I am an entrepreneur. I would feel tethered and bound if I were stuck in someone else’s corporate vision. I have to create and live my own vision. Being an entrepreneur is sometimes a curse, but mostly it is a great blessing.

Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

How Can Entrepreneurs Keep Faith?

Something that all entrepreneurs will face sooner or later are setbacks, delays and rejection.  It goes with the territory, yet one of the hardest things is keeping faith and energy in your project, regardless what comes your way.

How do others do it? How do they keep their belief in spite of resistance?

faith |fāth|  noun
1.  a complete trust or confidence in someone or something : based on belief rather than proof

I have been working on raising capital for a new business for the past few months. We have written a solid business plan. We have a strong team. We have developed a product with potential. We have customers who are willing to use their time and efforts to help us get to market. We have bootstrapped the company as far as we can without external financing, and yet raising the startup capital is taking longer and proving to be harder than expected.

What should we do in order to keep the faith? How can I keep my team focused and moving ahead at a brisk pace when the funding process is slowing us down and stealing lots of our energy?

I asked a friend who is an experienced entrepreneur. He said “Trust your gut feeling and act… Just keep taking massive action.” I think this is good advice that I intend to follow, but it still did not address the core issue of how to stay motivated.

So I called another friend who is a coach. Of course, he replied with some questions. He asked me the following:

  • Why did you begin with this startup business in the first place?”
  • “What do you want to get out of it in the long-term?”
  • Why is this business so important to you?”
“He who has a why can endure any how.”
— Friedrich Nietzsche (1844-1900) German philosopher
“Give me a big enough WHY and I will always be able to figure out the HOW”
–from the book Unlimited Power by Tony Robbins

It was then that I realized the answer to my question.

In order to keep myself and the team highly motivated, we must keep our focus on our PURPOSE. We intend to build a strong business. We have created a product that solves a real and relevant problem in the marketplace. When we get it to market, hundreds of millions of children and senior citizens will benefit. This is our purpose and the reason that we created this business. Connecting to this purpose is what gives us energy and the belief that is necessary in order to overcome setbacks, delays and resistance.

My job as an entrepreneur and my job as a leader is to keep this Purpose visible and clear in our daily discussions and in our meetings.


Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

Why Do Dyslexics Make Great Entrepreneurs?

I spend a lot of time being curious about what makes some people great entrepreneurs. I recently found an article in BusinessWeek that discusses the fact that an abnormally high percentage of entrepreneurs are dyslexics. They raised the question – Does the struggle that is required to overcome dyslexia prepare dyslexics to become great entrepreneurs? And if so, what are these traits?

According to BusinessWeek, the ability to grasp the big picture, persistence, and creativity are a few of the entrepreneurial traits of many dyslexics.

In a study that was published in 2008, Julie Logan, professor of entrepreneurship at Cass Business School in London found that 35% of entrepreneurs in the U.S. show signs of dyslexia.

“The broader implication” says Logan, “is that many of the coping skills dyslexics learn in their formative years become best practices for the successful entrepreneur. A child who chronically fails standardized tests must become comfortable with failure. Being a slow reader forces you to extract only vital information, so that you’re constantly getting right to the point. Dyslexics are also forced to trust and rely on others to get things done—an essential skill for anyone working to build a business.”

“We found that dyslexics who succeed had overcome an awful lot in their lives by developing compensatory skills,” Professor Logan said in an interview. “If you tell your friends and acquaintances that you plan to start a business, you’ll hear over and over, ‘It won’t work. It can’t be done.’ But dyslexics are extraordinarily creative about maneuvering their way around problems.”

James LeVoy Sorenson, a highly successful entrepreneur in the medical field says that overcoming dyslexia trained him to be persistent and to solve problems in new ways. He says “I like to add one word to the end of many sentences: ‘yet.’ Instead of saying, ‘I can’t do it,’ I say, ‘I can’t do it—yet.'”

I am not a dyslexic, but I think this is a good lesson for all of us who want to be better entrepreneurs. – RICK

See: http://www.businessweek.com/bwdaily/dnflash/content/dec2007/db20071212_539295.htm

Top Dyslexic Entrepreneurs

Take a look at the following list of Entrepreneur Dyslexics and see if you recognize a few names…

  • Charles Schwab
  • Steve Jobs (Founder of Apple)
  • Paul Orfalea (Founder of Kinkos)
  • John Chambers (CEO Cisco)
  • Richard Branson
  • Henry Ford
  • Ingvar Kamprad (Founder of Ikea)
  • William Hewlett (Founder Hewlett Packard)
  • Steven Spielberg
  • Ted Turner (Turner Broadcast)
  • Tommy Hilfiger
  • Alan Meckler (CEO of Jupitermedia)
  • Walt Disney
  • Nelson Rockefeller
  • Thomas Edison
  • Anita Roddick (Founder of Body Shoppe)
  • Alexander Graham Bell

See: http://www.incomediary.com/top-30-dyslexic-entrepreneurs/

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Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

Kill the Cow

http://www.flickr.com/photos/kwerfeldein/1934917078/What will Norway live from when the North Sea oil wells run dry? I believe that some answers lie in empowering young entrepreneurs. The following cow story made me think about the fact that sometimes we get very creative when we are forced to do so. What are your cows?

Kill the Cow (by Conor Neill, www.conorneill.com)

A family lives in the outskirts of a remote village on a small plot of land.  The family owns one cow.  Each day they live from the milk of the cow.  If there is little milk, they eat little.  If there is lots of milk, they eat well.  The lives of the mother, the father, the children depend upon the cow.

One autumn day, a lone traveler stops in the village.  He is hungry.  The family share their milk.  The traveler is grateful. The traveler wishes to return the favour and help the family.  He doesn’t know how to help the family.  He hears that there is a wise man in the village.  He walks over to the home of the wise man.
“I was hungry and the family fed me.  I would like to help them.  How can I help this family?”
The wise man said “Kill the cow.”
“Kill it?  How can that help them?  They depend for their lives on that cow.”
The wise man repeated “Kill the cow.”
The traveler was nervous about following such strange advice,  but the reputation of the wise man was such that he went ahead and killed the cow.
A year later the traveler happened to pass again through the village.  He noticed new shops and a thriving market.  He saw a new hotel that provided beds and food to the travelers who came for the market.
The traveler entered the hotel.  Behind the bar he found the eldest son of the family of the cow.  The man was standing tall, smiling and happy.  The traveler greeted him and asked “What happened?”.
“We lost our cow.  There was no milk.  We had to go out and do something to eat.  We set up a small market, it grew.  We set up this hotel, it is growing.  Without the milk from our cow, we had to try new things.”
Silently to himself, the traveler reflected on the power of the wise man’s words.  “Kill the cow.”

“Any nation that thinks more of its ease and comfort than its freedom will soon lose its freedom; and the ironical thing about it is that it will lose its ease and comfort too.” W. Somerset Maugham

What is your cow?

Conor Neill (author of The Rhetorical Journey – www.conorneill.com)


Today’s blog post was written by my friend Conor Neill, who is a professor of communication at IESE University in Barcelona.

Conor and I frequently collaborate on webinars for entrepreneurs. Watch the EVENTS page on this site for future events. I strongly encourage you to visit his blog site and to subscribe to his posts. – RICK

Entrepreneur Self Sabotage

We all have 2 different minds. One is logical, the other is emotional and they don’t always agree with each other. Sometimes they will do whatever they can to sabotage each other.

Consider the following entrepreneur story:
Gauri Nanda was a graduate student at MIT who got an $80K loan from her parents to start a business. Her first product is called CLOCKY. It is an alarm clock on wheels. You set the alarm to ring at 06:00 in the morning. When the time comes, the clock wheels itself off your bedside table and races around your bedroom making loud and annoying robot-like noises. You have to chase it down in order to shut it up. It is a great gimmick, Nanda has sold over 100 thousand clocks already and was featured on the cover of Inc. Magazine.

But why would 100,000 people want to chase a loud and annoying alarm clock around their bedrooms each morning?

Back to the two minds… One mind (the logical one) wants to get up at 06:00. The other mind (the emotional one) wants to stay in bed and sleep a few more lazy hours.

So Why do we fight with ourselves so often?

I coached an entrepreneur last week regarding his long-term goals. He was very clear on what he wanted to achieve long-term with his startup company but when we discussed what factors were keeping him from achieving success, the list was endless. The conclusion we reached was that he is not really sure if he is willing to do the work – to pay the high price that is needed to make his company a success. He keeps hoping he will find a short cut or an easy path to success, but in the meantime his company is moving very slowly. After lots of questioning, he sited several examples of situations where he had setup a specific goal and then sabotaged the result by either failing to follow-up or by prioritizing other tasks. His one mind wants success. His other mind wants an easy lifestyle.

Reaching this conclusion did not solve his problem, but it did shed a lot of light on it. He went away from the coaching session much more conscious of self-sabotage and with a new resolve to remove the excuses and to re-focus on accelerated success.

This is all about Values. People who are clear on their values don’t have the big internal conflicts. People who are not clear often end up sabotaging themselves. Working with a coach on clarifying your own values can be a fun and really interesting experience.

Are you ever of two minds? Do you ever sabotage yourself? If the answer is yes, then maybe you should contact me about a coaching trial and then put the Clocky on your Christmas wish list.

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Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

If there is no struggle, then there is no progress

“If there is no struggle, then there is no progress” The title of this blog is a quote from Fredrick Douglass. He was born a slave in America in 1818. After two failed attempts to flee from a brutal slave owner, he finally succeeded in escaping to freedom and went on to educate himself and become a leading writer, newspaper editor and champion voice of the slaves during the American Civil War.

If there is no struggle, then there is no progress.
What does this say for entrepreneurs?

I attended a seminar on entrepreneurship last week where co-founder of Opera Software –  Jon von Tetzchner was one of the speakers. He made an interesting statement. He said that while Opera used over 2 years to get their first seed capital, he said that he is 100% certain today that if they had gotten the funds right away, that they would not have survived. His claim was that the the very process of having to struggle and go through a long and demanding process of searching for capital was one of the things that made them stronger. Tetzchner said that in the process, their business focus sharpened and that each “no” made them tougher.

How important is diversity to an entrepreneur? I often ask groups of entrepreneurs to list the most important characteristics or traits that they must have in order to succeed. “Stubbornness” is always one of the top 5 traits. Stubborn as a mule.

Churchill said something like: “Success is moving from one defeat to another without losing heart”.

The Dalai Lama is quoted as saying “Remember that not getting what you want is sometimes a wonderful stroke of luck”.

Carolyn Salmon (Rick’s Mother) often said “Remember that God’s delays are not God’s denials”.

What do you think? Leave your comments.

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Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

Great Networking Trick

Last week I accidentally discovered a great new networking trick. I was attending a lecture on Entrepreneurship in Norway. I walked into the auditorium where there were 100-150 chairs setup. I was early, so I went to the front of the room and sat in the chair that was nearest the podium in the first row where there happened to be an electric plug for my Mac. As each of the speakers, the experts and the VIPs arrived – those that were scheduled to speak – one after the other they came and introduced themselves to me. Since I was sitting close to the podium and since I had on a suit they all just assumed that I was someone very important or one of the other expert speakers. I shook their hands, we exchanged cards and I proceeded to ask them lots of questions concerning what they were going to speak about. I had a great time. They had a great time (because they got to talk about themselves) and I came home with a handful of the best business cards I had collected in a long time. Some of them are still probably asking themselves “who was that guy really?”

Keith Ferrazzi, the author of Never Eat Alone, says that Networking is one of the most important keys to success in a startup business. It will help you find jobs, recruit talent, win new customers and discover investors who’ll support your ideas. My experience is that being a great networker may not be absolutely essential, but it certainly makes things a lot easier and more fun.

According to Ferrazzi, successful networking is all about building close, sincere relationships based on mutual generosity. He says that entrepreneurs cannot achieve their career goals on their own. They have to network their way to success.

Many years ago I was co-founder of a software company and one of the other founders was a genius. A real genius. I mean the serious, lifetime member of MENSA, IQ-of-186 type genius. He was so brilliant that he was often challenged in other more normal social settings. This was good for me to understand. I am nowhere near what would be called genius, but OK, I have other talents. We worked well together as a team because we complimented each other. In today’s business world, you will need other people to help you to succeed and to provide the diversity necessary to solve complicated problems and challenges. Few successful entrepreneurs succeed by flying solo.

Dale Carnegie literally wrote the book on networking in 1936. How to Win Friends and Influence People demystified the process of making friends out of strangers and inspired legions of business coaches to carry on Carnegie’s message. His methods were so simple, yet so fundamentally useful. Here is what he recommended:

1. Smile – Simple huh? While this is easy enough, when I attended a networking event last week and I looked around the room to see how many people were actually smiling. I was shocked to see so many sour faces…lots of people frowning and staring down at their own shoes.

2. Ask Questions – Most people spend all their networking time talking about themselves. They drone on forever. Networking is about asking questions and being truly curious about the other person. If you take the time to ask, you will be surprised how fascinating, interesting and fun even the most boring person can be.

3. Listen – It is not enough to just ask questions. You have to stop to listen. I mean really listen. Listen to what they are saying. Listen to what they are not saying. Listen with your ears, your eyes and your gut feeling. Give generously of your time and attention. Nothing is more highly valued in our society today.

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Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

Can Entrepreneurship Empower Palestinians?

Last week I was asked to join a group of coaches and investors to design and lead a program for Palestinian entrepreneurs from the West Bank. This week I have been doing a lot of thinking. Thinking about conflict resolution. Thinking about peace. Thinking about empowerment and the role that entrepreneurship can play…

An article in yesterday’s Norway Evening Post discussed the problems in the UK with generational unemployment. 11% of the children in the UK grow up in a family where no one works. No one. The programming starts at birth. Children learn to believe in limitations. Severe limitations. There are very few good examples and even fewer role models. There is only a strong belief – being reinforced daily – that their situation is hopeless and futile. Thus, their likelihood of breaking out of this environment is slim. Generation after generation, the problem gets passed on.

What kind of beliefs are young Palestinian entrepreneurs being taught? What do the children of Palestine believe about their own chance to create their own future? Isn’t this really a question of empowerment?

The greatest gift in becoming an entrepreneur is not the money. It’s not the glamour of being your own boss nor the ability to work when and where you want. The greatest gift lies in knowing that you can create your own future. True entrepreneurship and true empowerment is believing that no matter what situation arises or whatever circumstances occur, that you will be able to find a way to turn it around, to create your own business, to survive and to thrive.

How can we teach this to young Palestinians? How can we instill in them the belief that the future is really theirs to create? Empowerment is one of the only true paths to peace in Palestine. At least that is what I have been thinking…

Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Please join the discussion and leave your comments. Subscribe to this newsletter/blog to receive frequent updates and tips.

Fake It or Be Yourself?

Years ago I heard a great story about networking. It came from an investor who had a different strategy than most. He was part of a delegation of US businessmen who were going to travel to Japan to setup new business relationships. Most of them attended a class where they learned about Japanese customs, etiquette and manners. They learned how to bow, how to present their business cards with two hands and a shallow nod, how to toast sake wine, etc.  The investor ignored these classes. He went out and purchased a giant box of big cowboy hats and took it with him to Japan. While all the others were busy trying to act like good Japanese, he would reach into his box, grab a cowboy hat, stuff it over the ears of the little Japanese businessman, grab his hand and shake him like a tree branch while exclaiming loudly “Howdy there Pardner! Niiice to meet ya’ll!”.  Guess who came home from the trip with the most business?  Guess whom the Japanese businessmen probably still remember?

Dare to be yourself. Sometimes we are so intent on pleasing the people we meet that we forget to be who we are. Good networking skills involve being very specific, clear and intentional in how you present yourself or your business, but mostly it involves being yourself.

I do a lot of work with entrepreneurs where we seek to clarify their message. We work in order to develop a brief Elevator Pitch message that is easy to remember yet addresses the specific wants of the investors or business partners they seek. Note that I say “want”, and not “need”. We buy our wants, not always our needs. For example, I need basic car transportation, but I really want a shiny little sports car. Communicating who you are in a manner that touches on the wants of your audience will help you improve your networking tremendously.

I met another person who introduced himself as a detective. Since he did not say anything more, I was puzzled. I asked what kind of detective. He answered “an existential detective”. I was even more puzzled. I asked how that could be. OK, he smiled and told me he was a priest and that his job was to help people find answers to life’s big existential questions. To this day I have forgotten the names of many other priests yet I still remember this one. Find a way to present yourself that helps others to remember you and to easily understand what you do, who you are and what you are looking for.

And have some fun too!

Always be a first-rate version of yourself, instead of a second-rate version of somebody else.  ~Judy Garland

Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Subscribe to this newsletter/blog to receive frequent updates and tips.

Connecting the Dots

Steve Jobs: "Follow your curiosity & intuition"

Like most children, I loved drawing Connect the Dots pictures. I can envision myself staring at a new and particularly complex page of dots and numbers and trying to imagine what could possibly emerge from all that chaos.

Today, as an adult I look forward in my life and try to imagine what future can possibly emerge from all the dots. Some things are easy to foresee. Some things are impossible to imagine and yet there is a marvel and mystery in what the future may hold.

Steve Jobs delivered an amazing speech at Stanford University several years ago. The link to the video is here. In this speech he looks back on some of the major events of his life – dropping out of college, founding Apple, getting fired by the board, rejoining, recreating Apple and surviving cancer. It is an amazing story of inspiration and yet the central theme is that you cannot connect the dots looking forward in your life, only by looking backwards. You must move forward in your life without the numbered dots that will tell you what your next step should be.

Even though he was the founder and a major stockholder at Apple, Steve Jobs was fired. He was publicly ridiculed, humiliated, laughed at and defeated. In his speech Jobs says that this was probably one of the most important and necessary events in his life. Even though Apple had rejected him, he realized that he still loved what he did. This is what allowed him to keep going. He founded NEXT and Pixar, he helped create Toy Story, the world’s first computer animated movie and eventually, Apple hired him back.

When giving advice to the young Stanford graduates he says “Your time is limited; so don’t waste it living someone else ‘s life. Don’t be trapped by dogma, which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice, heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”

Follow your curiosity.
Follow your intuition.
Listen to your inner voice.
Be brave and love what you do. The rest will work itself out. The dots will get connected.

Helen Keller was born without sight, hearing or the ability to speak and yet she was quoted as saying that “Life is either a daring adventure or it is nothing”.

If you could look back on today 10 years from now, what would you remember? What will you do today that will be worth remembering 10 years from now?

If you read this blog, then you are probably an entrepreneur. If not an entrepreneur, then you are probably someone that wants to create something special with your life. Each day is a blank page. What will you write on yours today?

Want to turn-around your business and achieve results in record time? Contact me to discuss Executive Coaching, Group Facilitation and Management for Hire services for technology companies. You can learn more at www.ricksalmon.comwww.xelerator.com and at www.e-unlimited.com.

Rick Salmon is an energetic entrepreneur who lives in Norway and believes that European startup companies can succeed and grow quickly if only they get the proper help and assistance. Subscribe to this newsletter/blog to receive frequent updates and tips.

Here is another interesting article about Steve Jobs and his career.