Thought of the Day #15/2021
Update September 2021
What have I gotten myself into? A question that pops up in my mind quite often.
When I graduated from university, I had the average implanted dream of working for a big corporation, getting up on the career ladder, have a family, and retire at 65.
Already besides studying for my exams, I supported young companies to getting off the ground. In the 90s, they were primarily focused on solutions build on top of the novel internet.
None of those novel buzzwords existed back then. Words like a start-up, scale-up, acceleration, or early-stage are inventions of the last few years.
…
Fact Check
The internet is a great thing — still, after almost 30 years since CERN made the World Wide Web publicly available.
Yet, sometimes it is challenging to stumble over information that crushes long kept believes in the truth of certain quotes like
Be the change you want to see in the world
Not Mahatma Gandhi
My whole life, I firmly believed Mahatma Gandhi said that, and then I stumbled across Quote Investigator — and they crushed it.
Why is this quote great?
I liked the quote as a reminder to refocus on what I can change instead of pondering what I cannot change. What exactly?
- …
Thought of the Day #21/2021
About Attitude
How should entrepreneurs treat people in business? There are so many options to approach any business situation.
Most of the time, the players on the business field don’t have access to the same type of information, which gives one of the players an advantage over the other.
Every business usually knows more about the specific market than any customer, which is tempting to use this information to gain an additional benefit. And such an action can easily be used to rip off a customer.
One might argue that is the nature of business, and another one might view such behavior…
Thought of the Day #20/2021
Some thoughts on a Podcast with Jim Collins
What are goals all about? Do you remember those New Year’s Eve’s Resolutions that everyone puts out boldly, and a month later 99,9% of the people failed and are back to their usual routine.
Why going for goals?
The last days I have been pondering this question in my mind t since I set the goal to achieve a performance of
31% in my stock market portfolios for 31 consecutive years.
Such a foolish goal for the following reason:
Warren Buffett — the most iconic investor in the world — achieved an average return of 20% from 1965–2020, which is…
Thought of the Day #19/2021
What happened in the last 50 years
“We were born to live with the wonders of our time.”
The sentence, bluntly translated from german to English, is part of one of my favorite songs from the German Band, “Unheilig.” It was released in 2010 and gave a lot of people hope who lost a loved person.
We must live with the wonders of our time; it is a calling that every generation must live life to the fullest.
I was born in 1974 as a member of the Gen X club to which everybody belongs who started life between 1965 and 1980, similar to the lead singer…
Thought of the Day #18/2021
Why you don’t need to quit your job to become an entrepreneur
“I am going to create my own company, boss. I quit.”
Have you ever thought about saying this phrase to your employer backed by the great feelings of venturing into a prosperous future?
And — like some — even added a “burn the bridges” exit:
“And by the way, the job and your company always sucked?”
For the only reason to make sure you get enough fire and pressure to make your only option work and succeed?
If you answered one of those questions with yes, then you should think twice before putting the ideas of “burn the bridges and…
Thought of the Day #17/2021
The Magic of Cost Averaging
Did you ever dream of owning 1 million dollars? Did you have the dream of financial independence in which you can do whatever you want whenever you want with whomever you want?
You are not the only one. And the good news is that the capitalistic system is open for everybody these days. Everybody can become a millionaire with a few simple steps.
One must not be a genius but patient as it might take 10–20 years to achieve that status.
One way to achieve that goal is the public stock market. Invest 100 dollars every month at the average…
Weekly Review #1/2021
September 5, 2021
In which direction are Bitcoin and all the other cryptocurrencies heading in the future?
Will it repeat its success of the last decade with an annualized return of 230% per year?
Or will it finally reveal its Ponzi scheme's true nature and fall to 0 with all other cryptocurrencies?
I don’t have a crystal ball; that’s why I can’t make any price predictions. Technology-wise I believe an enormous group of people in 2021 put their heads together to figure out which problems can be solved with the different cryptocurrencies. And they are putting their ideas into practice.
The technology has…
Thought of the Day #16/2021
Investors, Customers, and your friends…
Did you ever think about starting a company and pitching your idea to potential investors, customers, team members, and friends?
Then you probably also might have asked yourself the question:
What is the most important part of a pitch?
When I started getting companies off the ground in the 90s, my friends and I didn’t have any clue about selling or pitching.
The internet was young, we had ideas, and we wanted to try them out. It was exciting times; everything was new, and the internet came with the “new economy and a shift of paradigm label”.
Without thinking, we…
Christian Soschner
I love reading, writing and talking about Innovation, Entrepreneurship and Investment http://Linktr.ee/soschner
