Alan Hall

Hall

Lessons learned from business ideas that failed to work

In past columns, I promised to outline not just my successes, but my own five business failures as well. Today is that day. I hope the lessons I learned can influence your future successes, as they have influenced mine.

Great entrepreneurs need the personal attributes of great pilots

I recently received an email from a young executive in Mali, Africa, in response to an article I’d written for Forbes. “Can everyone be a successful business builder? Is it a realistic notion?” she asked.

“Surely not everyone can succeed at this most difficult endeavor,” she wrote. “Why do some flourish and others fail? Clearly, the odds of high achievement are challenging.”

I liken award winners to a ride in an F-16. A few years ago, the Air Force invited my daughter, Megan, to fly in one of the Thunderbirds’ aircraft in the clear blue skies over the Wasatch Mountains.

Hall

Challenges of powering a company into its full potential

Consider for a moment that 90 percent of entrepreneurial training is focused on how to start and grow a successful company from an idea to a full-fledged award winner.

Entrepreneurs the backbone, lifeblood of U.S. economy

Entrepreneurs are America’s best resource for economic prosperity and growth. They have the ideas and the fire in the belly needed to create flourishing businesses that benefit entire communities.

These undaunted risk takers are the unquestionable source of wealth creation, new jobs and a strong nation. They provide the financial fuel to pay good wages and valuable benefits. They pay the majority of local, state and federal taxes. They contribute to their communities with donations to the needy, the arts, education and health care.

Successful entrepreneurs are the backbone and lifeblood of the U.S. economy.

Hall

Choosing prospective investors may be hardest decision for a business

You want how much ownership in my business?

New companies with compelling stories win customers

Winning entrepreneurs bond emotionally with employees, investors and customers when relating meaningful stories about their businesses.

Last week, I listened intently to Jana Francis, seeking money for a growing company, tell her story of why she started her online business for new mothers. In a very natural way, she described how her idea originated from the need to buy an item for her new baby.

Unable to find quickly and inexpensively what she sought in retail stores, she turned to the Internet. Not satisfied with what she found online, she envisioned building her own website to sell specific products to women with infants.

Build a billion-dollar business plan with these 10 points

As an investor, I look at scores of business plans from eager entrepreneurs seeking funding for their emerging enterprises. Most plans are not well-written and I find only a few that are excellent. I invite the founders with poorly conceived plans to improve their efforts and return when they are ready to present again.

Those high achievers who have thoughtfully prepared outstanding plans, with reliable assumptions, often receive the funding they need for company growth.

Trulia’s IPO bid will test reforms within JOBS Act

What’s new, Utah? We are about to witness a major tectonic shift in the world of finance. It’s happening beneath our collective feet and it will change the world as we know it.

What is it? The new and controversial stipulations of the JOBS Act, signed by President Obama in April, are about to be tested by an IPO filing by San Francisco-based real estate search service Trulia.

Harness collaborative creativity with an ‘Imagine Session’

Great business leaders often experience mind-boggling dilemmas. They ponder solutions to fabulous opportunities and to complex problems that need serious attention. They may need to develop a compelling new product to win customers and beat competitors. Or there may be a need to improve productivity and efficiency to increase profits. And there will always be many trials to conquer during exasperating economic times.

What do the best and brightest entrepreneurs and managers do at such moments? Historically, leaders gather their senior teams to consider extraordinary situations and decide an appropriate response. It’s a model that has worked for generations.

Alan Hall

Ten horrific and significant business mistakes to avoid

During 40 years as a businessman I have made foolish business mistakes. Many have caused the painful end of an aspiration to build an award winning business.

Exceptional women entrepreneurs offer key lessons

There has never been a greater need or time for women to start businesses. We need their abilities, experiences and skills more than ever in the very competitive world of commerce.

Today, I honor and pay tribute to bright women of all ages who undertake a significant risk to launch a flourishing enterprise.

It has been my great privilege to be associated with many talented female business founders, and they deserve my praise and encouragement. All are remarkable women.

Kiss your boss goodbye and launch your own business

Kiss your boss goodbye — it’s time to become an entrepreneur

I recently read a report on the attitude of the American workforce. To my surprise, more than half of all employees are not engaged at work. In other words, most workers are not happy, not satisfied, not productive, not loyal, not inspired and will jump ship if another opportunity arises.

How to create a world-class business idea in six easy steps

I often meet business founders whose minds are overflowing with brilliant ideas for new products. They seem to develop terrific new concepts every day.

On the other hand, I listen to intelligent and aspiring entrepreneurs who can’t concoct a single viable idea. These great souls are bright and earnest, but for some reason imaginative ideas elude them.

Within my circle of friends is an individual who struggles to envision the next great product. From time to time, he asks me if there is a method for generating a great idea.

Here is a process for creating a world-class idea in six easy steps:

To be a successful entrepreneur, you’ve gotta have faith

Last week’s jobs data was dismal. Unemployment is up again, at 8.2 percent. With just 69,000 new jobs, the fewest in a year, May is the third consecutive month of disappointing results.

Is now the time to take the entrepreneurial leap? Boomers are entering the entrepreneurial ranks at such speed that many are calling entrepreneurship the new mid-life crisis, according to fellow Forbes contributor Marty Zwilling.

Scores of those in Generation Y are becoming new-business founders, according to USA Today. In 2012, 29 percent of entrepreneurs are ages 20-34.

Despite your business failures, continue to strive for greatness

Excellent performance is what separates an average businessperson from men and women of honor and acclaim.

Those with accolades of distinction have had bold ideas and plans to achieve them. They have the energy, passion and perseverance to exceed anticipated results. They have climbed around every obstacle to become the best at what they do.

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