AOL Small Business has been re-launched by a friend of mine, Rod Kurtz, from the Your Business TV show at MSNBC. Also Rod is the former editor of Inc Magazine. Rod and I have done several shows together and I’ve enjoyed his banter and brain on every one of them. So when he called about joining the AOL Small Business Board of Directors, I said absolutely! The Board is made up of a number of very successful entrepreneurs including Sir Richard Branson, the legendary founder of Virgin Group, Bob Parsons, the founder of Go Daddy, Rob Dyrdek, the entrepreneurial skateboarder and Lexy Funk, the founder of lifestyle clothier Brooklyn Industries.
Unlike many Boards, this one is quite active. Rod regularly sends us a question or two and we all put our personal spin on answering it. Then he posts the answers on the website. For example, Rod asked us what we thought about President Obama firing General McCrystal and, by extension, how a CEO should handle a similar situation. Here’s what I said:
“If your employee is really a superstar, then you don't let them go over some idle chatter, because you'll be playing against them tomorrow. Have a constructive chat and try to build a more respectful relationship... until you just can't take it anymore. Then you fire them. Meanwhile, start finding their replacement. In the president's situation, personal stardom over military stardom with a superstar on call. No-brainer.”
My reply is up there with a whole bunch of other replies. I try to keep it short and keep it on brand - which means I answer the questions from the point of view of a Rule One Investor.
Check out the site. The things you have to do to become a successful entrepreneur are the same things your public business should be doing to make your investment successful. The more you learn about what Small Business should be doing, the greater your potential for becoming a better investor.
Now go play!
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