I had a great meeting a few weeks back with the VC group Maveron in San Francisco due to two really bright guys named Ben Choi and Jason Stoffer who took an interest in a project I’ve been working on.
Along with them was EIR (Entrepreneur in Residence – something successful people call themselves when they are in-between jobs) Mark Vadon, the former CEO and founder of Blue Nile, the largest online retailer of diamonds and fine jewelery.
First off, I’d like to setup some ground rules before I get started.
I really put people into two separate buckets.
There are entrepreneurs : These people are looking to develop an asset which provides a good or service which can eventually operate on its own. The primary job of an entrepreneur job is to build a business which grows and continues a success trajectory without them present.
There are small business people: These people are looking to start a business which they can run so they have discretion over their own fate and schedules without the oversight of a boss. If being your own boss and having more time to spend with your family is your top priority, you probably fall in this bucket.