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Company Founders2 Reveal Secrets of Success
The recent worldwide economic slowdown, plus some spectacular business failures and criminal scams, have made investors3 cautious. But every day, entrepreneurs still come up with new ideas that get funded, often with an infusion4 of money from speculative5 investors called "venture capitalists."
Studies show that two-thirds of new businesses fail and disappear within 10 years. Yet there are countless6 stories of entrepreneurs who have come back from bankruptcy7 or worse, reinvented themselves, and reaped millions of dollars. For instance, New York tycoon8 Donald Trump9, who's rumored10 to be considering a run for president next year, lost a fortune in the casino business and made it back and more in real estate.
In a new book, called "How They Did It," Robert Jordan - who himself has launched and grown several companies - interviews 45 other successful company founders to learn their secrets of success.
All of them share one trait, Jordan says. It's resilience. "These entrepreneurs all faced at least one crisis that should have stopped them in their tracks," he writes. "Instead, they bounced back stronger, smarter, leaner, and meaner than before."
How? Here are four tips from the book:
Don't be embarrassed to hire people better than yourself.
Hire people who are nice, not just smart. "If you hire people who are smart but jerks," one founder1, Ronald Galowich, told Jordan, "they'll just hire more smart jerks."
Make your employees shareholders11, Biomet executive Dane Miller12 suggests. "Give stock options to everyone at your company - all the way to the janitor13. When employees have a sense of ownership, it creates a kind of self-enforcement process."
When all else fails, just start over. "What doesn't work, throw away," Jordan writes. "And what does work, run with it."
1 Founder | |
n.创始者,缔造者 | |
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2 founders | |
n.创始人( founder的名词复数 ) | |
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3 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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4 infusion | |
n.灌输 | |
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5 speculative | |
adj.思索性的,暝想性的,推理的 | |
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6 countless | |
adj.无数的,多得不计其数的 | |
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7 bankruptcy | |
n.破产;无偿付能力 | |
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8 tycoon | |
n.有钱有势的企业家,大亨 | |
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9 trump | |
n.王牌,法宝;v.打出王牌,吹喇叭 | |
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10 rumored | |
adj.传说的,谣传的v.传闻( rumor的过去式和过去分词 );[古]名誉;咕哝;[古]喧嚷 | |
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11 shareholders | |
n.股东( shareholder的名词复数 ) | |
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12 miller | |
n.磨坊主 | |
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13 janitor | |
n.看门人,管门人 | |
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