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Lesson #4: Rejuvenate Yourself
The man who at the young age of 27 launched his multi-million dollar career turned 80 this year. “In many ways, I’m younger than I was 20 years ago,” says Hefner.

BANG BANG YOU’RE DEAD!
Oooh my that hurts. The shock of suddenly being told that your business isn’t making any money.

How to Change the World: Defensibility
Blog reader Curtis Thompson asked me a very good question a few days ago: What should an entrepreneur say when she’s asked what makes her company defensible? This question is more and more common as more and more entrepreneurs start “Web 2.0 companies,” and investors torture themselves by wondering why they didn’t fund YouTube.

Fear Is The Mindkiller
I had a long phone call with a CEO of a company on Friday. He’s had an intense few weeks and was clearly stressed out. His summary was “my stomach hurts.” My objective view of his business is that it’s fine – lots of things are going well – but there are plenty of issues he needs to address and they don’t necessarily have a short term time horizon for resolution.

Communicating Sales Info To Your Board
My partner Chris Wand is finally blogging (even though he’ll deny it) over at AsktheVC – he’s writing a series on what should be in a “board reporting package.”

Talking About Your Product Roadmap
There are two opposite approaches in the world that most software companies take when talking about future products. 1. Say nothing until the day of the release and 2. Talk regularly about your roadmap. There used to be a third – “announcing a product but then not shipping it for a while” (anyone remember vaporware?) – but that’s faded into the background for the most part at this point (and is distinctly different than #2.)

Is appreciation referral motivation enough?
I talk to lots of small business owners and marketers about referrals. One of the burning questions always revolves around the topic of motivation. In other words, how do you motivate someone to refer your business when the time comes. Or, the perfect situation, how to do you get them to proactively evangelize your business.

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