So the question is, the importance of attracting a team, what if you’ve already created a team, and you find out that things aren't going as well as you originally thought? What do you do? Divorce or mediation, or therapy? What do you do? There isn't really a good answer for this. I would say th...
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But there is one decision that stands above everything else. And that is: who is the team that you surround yourself with? Now, commonplace wisdom would say, "Oh, I know the answer to this: surround yourself with great people." Surround yourself with the A-Team. It doesn’t get any better than th...
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One of the biggest challenges that you will face during the phase of growth is learning how to release control as an individual. And what I mean by that is not simply delegating authority, but disseminating knowledge. Knowledge is power. And knowledge is control. And if you’re the only one who k...
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Mark Jung, former Chief Operating Officer of Fox Interactive Media, explains that entrepreneurship is a journey that has to be experienced with all it’s hardships. One should not be afraid to make mistakes, he emphasizes.
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Phase one is the start-up and the inception. Phase two is a period of growth. Phase three is the unfortunate setback that invariably every venture faces. I call phase four rejuvenation, rebirth. And the fifth and final phase, a transition for either you as an entrepreneur, or the company overall...
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But finding out the hard way is really important. Until you get burned, it’s just something that someone's told you. And I think, again, don't be afraid to make the mistakes, that's where you learn the most. And especially because entrepreneurship is a journey, most people are serial entrepreneu...
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The question is, given that web companies have a low cost of entry, what is the best way to create a proprietary brand? You know, the web was created around a network effect. And the network effect really means that each individual that joins the network benefits the collective. Which means the ...
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Jung talks about the irregularities in team dynamics. He stresses that the timing of conflict is very important and one needs to work together as a team to sort out issues. He also insists that if necessary, the team should get professional help.
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Jung talks about the five different phases that a start-up will entail in its journey from inception to transition. Phase one is the start-up and the inception. Phase two is a period of growth. Phase three is the unfortunate setback that every venture will invariably face. Phase four is a stage f...
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Jung talks about the dark phase in a startup where entrepreneurs begin to question everything, including themselves. This is an important phase as it tests you, your own sense of perseverance and loyalty to yourself, he says. An entrepreneur has to be prepared for this phase as every company wil...
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Jung talks about the importance of empowering an entrepreneur’s target audience in acquiring customers. Viral marketing is one of the ways to acquire and build loyal customers at a low cost, he adds.
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Jung talks about one of the biggest challenges in the growth phase of a startup. Releasing and disseminating control is very essential for scaling companies. He explains this fact in detail and illustrates its importance from his personal experience.
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