April 5th, 2008 by Matthew
I bet you have some great ideas. Ingenious ideas. Ideas that could make you incredibly rich. You’ve probably dreamt of the wealth and fame your ideas could bring you.
Here is the painful truth: It doesn’t matter.
Everyone has (or at least thinks they have) great ideas. Ideas for books, inventions, websites, services, …anything. But how many people actually have the courage and motivation to make those ideas a reality? To learn about book publishing and spend months perfecting a bestseller? To design, build, test, and patent a product? The answer, of course, is very few. That’s because it’s hard to do something original. It’s hard to pour your time and sweat into something that might not succeed. But, it’s the only path forward. The only way to achieve your dreams is to take action. Deliberate, faithful action.
Start Now
The time for action is now. Don’t placate yourself with your dreams for another week. That becomes a habit. Stop finding excuses. Start educating yourself. Start building real assets.
In congruence, here is a wonderful quote from Ze Frank’s New Year’s resolutions:
“I promise not to keep ideas in my head, unfulfilled and full of promise - not to let these vague outlines of future actions give me false confidence and security in the abstract. Instead I will execute them quickly and faithfully so that I am again on the brink of the unknown, hoping that these ideas were not the last that would ever come to me from God knows where.”
March 31st, 2008 by Matthew
Many people go to college to become good employees. The ironic truth is, college presents a phenomenal opportunity to start a business of your own. I attend a large public university and it’s hard not to notice the amazing opportunities in front of me. Here are the reasons that your college years are the perfect time to start a business.
Minimal Responsibilities
Entrepreneurship is notoriously risky. Luckily, the typical college student has few crucial responsibilities: no family to support and no full time career to worry about. In other words, you have little to lose. If your first business fails and you end up with the net worth of a cashew nut, no problem! That’s probably how you started out.
Youth
The typical college student also has plenty of time ahead of him or herself. This has benefits in the case of success as well as failure. If you build a successful business, you will have plenty of time to expand it and leverage your resources and knowledge to build other successful businesses. Or, you could just cash out at 30 and retire.
On the other hand, in the event that your business flops, you have plenty of time to try again. You’ll only be smarter the next time.
Youth also means a fresher perspective than previous generations. You are more familiar with current technologies and what’s trendy. You aren’t as bound by traditional preconceptions of how things “should” be done.
Abundant, Inexpensive Labor
College students are known to be hard-strapped for cash. If you’re looking to hire inexpensive, decently skilled labor, college campuses are a great source. And if you’re attending the college you will know exactly where to advertise for your desired skill sets.
Access to Knowledge
I’m not sure how many hundreds of PhD professors are at my school, but it’s enough that I could find an expert on virtually any topic. Whether I wanted to learn about emerging scientific research or I wanted some help with a business plan, it wouldn’t be too hard to locate the right person. All major universities share this abundance of brilliant people. Although not all professors are sympathetic, many will be extremely helpful if they recognized that you are a student trying to do something extraordinary.
In addition to professors, students most likely have access to one if not many comprehensive libraries and online databases.
Access to Software
Chances are, if you’re starting a new business, you could benefit from the incredible capabilities of modern software. In the normal world, advanced applications range in price from hundreds to tens of thousands of dollars. Luckily, universities provide an amazing array of software to their students. To drop some names, my school provides access to: AutoCAD (3D design), Final Cut Pro (film editing), Adobe Design Premium CS3 (graphic design), Maya (3D animation), Maple (mathematics), ERwin (data modeling), SQL Server (database management), Virtuoso Schematic Editor (internal circuitry), SolidWorks (3D design), and many more.
Access to Equipment
Large format printers, 3D printers, laser etchers, machine shops, film editing bays, film studios, camera equipment, computer labs, meeting rooms, scientific equipment, etc. Major universities offer serious equipment such as this to their students. Usually students in relevant degree programs get preference, but it is there nonetheless.
Financial Support
Many universities want their students to build businesses. I don’t know why. Perhaps for marketing or to encourage future multi-million dollar donations? Regardless, they will give grants for good business plans. From my observations this can amount to $5,000-$20,000 of free money.
When it comes to starting a business, college students have several unique advantages. Of course, there are other paths to success too. I don’t think anyone told these billionaire college dropouts about starting a business in college.
March 29th, 2008 by Eli
We all go to the kitchen several times a day. Sometimes we take for granted everyday habits, but there are several ways we can save money while cooking. They’re all simple and easy to do, they just require we think about things before doing them.
The Refrigerator
How cold do you need your refrigerator? Have you ever tried increasing the temperature? Your refrigerator is one of the most energy consuming appliances in your kitchen because it’s running 24×7. If you can adjust the temperature in your freezer and refrigerator just a few degrees, you won’t notice the difference in food quality, but you’ll probably see a small savings on your electric bill.
Another way to save energy with your refrigerator is to keep it full. Don’t waste money putting extra food in there you won’t use. But as you finish a gallon of milk, or juice, etc. refill with tap water and put this in the back of your refrigerator.
When your refrigerator is empty, every time you open the door all the cold air escapes. However, if you have solid/liquid objects in there, they will stay cold when the door is open for a short period of time. This helps your refrigerator maintain its temperature, and it has to use less electricity each time you pull something out.
Using Pots
When you use a pot, don’t just grab the closest one. Use the smallest pot/container you can for any given task. For example, if you have to boil water, using the minimum amount necessary will reduce cooking time and save energy.
Use lids too. Lids help trap energy. Just as using a smaller pot will expedite cook time, so will lids. Start using lids each time you get a pot out, and you’ll find you save both time and energy.
Is There Another Way?
Just like asking if you have the right pot for the job, do you have the right appliance for the job? Why use a cook-top when you can use a microwave? Could you use a toaster over rather than conventional oven? Instead of just defaulting to one appliance, you should ask yourself if there is a better way. The smaller and more efficient the appliance, the more money you’ll save.
Cook and Save
Do you find yourself cooking the same thing very often? Maybe you should try cooking in volume. Cook enough for a few meals, and refrigerate or freeze it for later. Do this enough, and you’ll quickly enjoy the extra time you have because you’re spending less time in the kitchen. Just be careful not to over-eat when you cook in bulk like this.
How else can we save money while cooking?
