October 25, 2014

Best Buy Founder Offers to Purchase Retailer

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Entrepreneurs are an unusual breed, wanting the control necessary to see their vision through to success. Today’s roundup looks at entrepreneurs big and small, and some of the commonalities all of them share. Let us know about your own experiences as a business leader in the comment section below.

Righting the Ship

Back in the saddle. A few months after stepping down as the company’s chairman, Best Buy founder Richard Schulze is trying to take the struggling retailer private, at between $24 and $26 per share. In a letter to the board, Schulze said bold changes were needed to rejuvenate the company. Bloomberg

Surprise, surprise. Sometimes troubles facing an entrepreneur are very different than the challenges that existed when the business launched. For example, Facebook’s disappointing IPO has little to do with building cool social tools and awesome user experiences. Entrepreneurs must tackle all kinds of issues as they arise. Business Insider

Learning from Others

Happy accidents. Anita Campbell, founder of Small Business Trends, claims she got into publishing by accident, but a happier accident cannot be imagined. Her flagship site is now a major resource for business owners and has also won several awards. Sometimes an entrepreneur’s best idea comes unexpectedly. The key is to know when to take action. Billion Success

How not to market yourself. Kare Anderson has a perfect example of how not to become your target audience’s favorite—spend too much time on your story and avoid obvious opportunities to be compared favorably with your competitors. Here’s what Kare learned about marketing from a political campaign some years ago. Forbes

Keeping It Real

Roll up your sleeves. If your one of those entrepreneurs who thinks starting a business involves sitting in an ivory tower somewhere making decisions that others implement, well, think again! Successful entrepreneurs, especially in a startup, are always prepared to roll up their sleeves and get their hands dirty. Startup Professionals Musings

Great expectations. Are we becoming unreasonable with our expectations for startups? In a post called “Ten Million Users Is The New One Million Users”, one angel investor explains the incredible expectations, especially for consumer Web companies since Facebook. But clever entrepreneurs know starting small is also an option. Chris Dixon

Satisfaction guaranteed. If you want to know the real reason why people become entrepreneurs, says Tom Ewer, it may not be the money. In fact, Ewer sites a survey in which it’s argued that the most satisfied workers aren’t the best paid. The question is whether you can build a business that satisfies you and gives your life purpose. This, Ewer believes, is the real point of entrepreneurship. MyWifeQuitHerJob.com

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