SmallBusinessNewz.com (Enable Images to Fully Enjoy) Do not fail! Read SmallBusinessNewz.
Newsletter Archive | Article Archive | Submit Article | Advertising Information | About Us | Contact

SmallBusinessNewz Videos
New Service Goalee Helps Users Not Only Connect, But Also Meet Goals
New Service Goalee Helps Users Not Only Connect, But Also Meet Goals

There's a new service called Goalee on the scene that is designed to help individuals meet specific goals. According to James Brown, the co-founder of Goalee, the tool is really a combination of LinkedIn and eHarmony.

As he explained to us, Goalee pulls data from Facebook, LinkedIn, and Twitter to find out who people really are. From there, it allows users to choose goals and connects people based on their similar interests.

Brown told us that Goalee isn't trying to be the "new social network," but instead, it's simply trying to be a "networking coach" for users.

At this point the service is free, but it will be rolling out a paid service later this year that will allow users to have unlimited goals and connections.





Become a Partner!


Get listed for free in the unofficial Twitter Directory!
Dharmesh Shah

The Startup Spouse: On Risks, Trade-Offs And Never Sleeping On The Floor

Tuesday, July 10, 2012

"He who sleeps on the floor will not fall off the bed." ~Robert Gronock

"I quit my job today," announced my husband, Seth Rosen, as he casually dropped his briefcase and strolled through the front door of our apartment. As if it was no big deal. As if quitting one's job is a routine occurrence. To be fair, Seth had talked about leaving his day job to work full time with his best friend, Mike Salguero, on CustomMade.com, a website they had recently purchased. And, to be fair, Seth had asked me repeatedly how I felt about the move. I had assured him that, in no uncertain terms, he had my unequivocal support -- mostly because I didn't think he would actually do it. Yet, here I was, staring at my newly-minted entrepreneur, unsure of whether I should throw up my arms to hug him or strangle him. After all, lots of people talk about starting a company because they think they have a million dollar idea, but very few pull the proverbial trigger. There is a reason for that. Leaving a seemingly safe and reliable salary for the uncertainty and potential perils of a startup company is risky. More startups fail than succeed, especially if a business requires venture capital. A quick search on Wikipedia told me that there are around two million new businesses started in the United States every year, of which less than 800 receive venture financing or 0.04%. CustomMade was already doomed. To make matters worse, it was the summer of 2009 and the US economy was in a deep recession. Was he nuts?

sleep floor Contrary to popular belief, Seth and Mike argued that the height of the Great Recession was an opportune time to start a company. In 2009, talented people were being laid off and investors were looking for better deals. Companies like Disney, Hewlett-Packard, and Microsoft provided ample precedent that great companies were born during hard economic times. Seth also convinced me that the timing was perfect for a young, well-educated couple with no children and decades of future earning potential to make the leap. Still, trading a plump six-figure salary (and health insurance, as my mother would rightly later point out) for an emaciated startup seemed irrational and incredibly risky to, well, everybody else.

"How could you let him jeopardize your financial security?" was the universal cry from friends, family and colleagues. Others probed deeper:

"When will Seth start to earn a salary?"

"How will you pay your rent?"

"Will you have to put off having a baby?"

"What does CustomMade do again?"

"What if you lose everything?"

"Wait, what do you mean you can't afford to come to my wedding?"

I was standing in front of a firing squad, dodging the bullets as best I could. Over time it became exhausting and my confidence in Seth and CustomMade began to erode.

One afternoon I called Seth at work and told him to be home for dinner, that I was going to cook. He agreed to leave work early only after I told him that chicken parmigiana was on the menu. This was code -- my notoriously limited culinary repertoire consists of any protein that can be breaded and pan fried, and microwave popcorn. If home-style chicken parmigiana is on the dinner menu, then something is up in the Rosen house.

The minute Seth stepped through the door my anxiety erupted. "Why are we starting a company now?" I asked. "It seems like too big of a risk."

"Well, it depends on how you define risk," Seth said without skipping a beat. He sat down at the kitchen table and poured himself a glass of wine. "How do you define risk?" His knowing look should have tipped me off that this question required more analysis than my first impression. But the answer seemed obvious. Without thinking I responded that "risk" is the chance that something bad will happen.

Seth shook his head. "Risk is not just about avoiding bad outcomes. It is the chance of an unexpected outcome good or bad."

"Risk is about evaluating trade-offs," he continued. "And evaluating trade-offs requires the consideration of opportunity costs: if I do this, then I can't do that. I could stay at my finance job, continue earning a salary, and insulate myself against the risk of CustomMade's failure. But what about the opportunity cost of my time?"

The implication was clear. If he continued as an investment banker, then he could not build CustomMade, attempt to change the way people consume retail goods, and reach for a successful exit.Every day he spent doing the "secure" job was a day he couldn't spend building a company.

"Although it seems counterintuitive at first, staying at my day job offers very limited upside financially and professionally. I think that's actually the riskier path."

I paused and slowly digested his words. He was right. From the beginning I had been viewing CustomMade through a much different lens. And so had many other people in our lives.

This is why the Robert Gronock quote above is so relevant for entrepreneurs and their families. Your interpretation reveals how you define risk. In the years before I married Seth, my life was predictable. As a child, my parents taught me to sit up straight, brush and floss my teeth twice a day, and to always color inside the lines. After high school I followed the safe path from college to law school to the conventional confines of a big Boston law firm that provided me with a reliable paycheck. In those days, after reading Gronock's quote, I would have thought, "Wicked smart!" and promptly traded my injury-prone four-poster bed for a mattress on the floor.

But a funny thing happened after I married an entrepreneur. Seth taught me to think differently about the world. The Gronock quote is not sage advice to avoid a bad outcome; it's about a trade-off. By sleeping on the floor you are eliminating a good outcome (a blissful night of sleep) in order to mitigate the chance of a bad outcome (falling off the bed and suffering an injury). Thinking about entrepreneurship in terms of trade-offs and opportunity costs is a better way to think about the associated risks.

Read The Full Article

» Comment on this article

About the Author:
Dharmesh Shah is a serial software entrepreneur. He is the author of the widely read startup blog OnStartups.com which focuses on advice and ideas for startup founders and management teams. Dharmesh is also the co-founder of HubSpot.com, a software company building applications that help small businesses transform their website into a marketing machine.
Newsletter Archive | Article Archive | Submit Article | Advertising Information | About Us | Contact
Small Business Newz is an iEntry, Inc. ® publication - 1998-2012 All Rights Reserved Privacy Policy and Legal

2549 Richmond Rd. Lexington KY, 40509
All Rights Reserved. Terms under which this service is provided to you. Read our privacy policy. Contact us.
WebProWorld.com Jayde.com