One thing everyone planning on launching a tech startup should do is learn to code.  Learning to code will provide you with a much greater chance of success than if you launch a tech startup without knowing how to code.

If you go into a tech startup without any knowledge to program, you are going to lose to a competitor that is run by someone who knows how to program.  They will be able to develop a better product, functionality, customer experience, etc.  They can learn the business skills specific to startups as they go along. 

I'll give you a similar example to drive the point home.  There are two consultants selling property services.  One has one year of experience in property consulting.  The other one has general business knowledge from 15 years experience but has never worked in the property industry before.

Which one has a better chance of selling property consulting?  My experience has been that the person who has in the industry doing it for a year and knows their product or service through and through will have a much greater advantage over the person with no experience.

Tech businesses also seem to do better under tech founders.  Just look at Microsoft's growth rate until Bill Gates resigned compared to growth since?  Apple was the same.  Until Steve Jobs returned, their sales were not growing.

If you want to learn code, you can sign up for free at www.codeyear.com to start learning how to code over the next 12 months.  In 12 months time, you will by no means be an expert, but you will be 12 months ahead of someone without coding experience.  That could be the difference between success and failure.

If you sign up to codeyear.com like I have, let me know how you go throughout the year so we can compare results, learning and frustrations.

I hope 2012 has been off to a good start for you.

A number of people have been asking me why I haven't been blogging for quite a while.

The more I thought about blogging, the more I was running out of things to say.  In truth, I was only coming up with instructional blog advice rather than using my blog to tell my story.  This left me feeling underwhelmed, opting not to post my reflections and keep them locked away.

Today is the start of a change for this blog.

Like the Internet has been evolving, my use of it is going through a process of evolution.

I'm going to be experimenting in the coming period (however long or short that is) with documenting my journey as it happens in real time rather than writing posts giving advice in hindsight. 

In reality, this is how we make decisions and this is how the net works these days.  We listen, learn and make decisions in real time.  Sure, we can learn from hindsight but it is far better to focus on our options and the decisions we make in the moment.

The thought process behind this use of my blog was why I originally moved my blog to posterous in the first place.  Speed to market is far more important than perfection.  And I feel my ideas, however imperfect they are, will be of more benefit to you as they come, rather than after the fact when things might have moved on.

So all the best in 2012.  I hope sharing my story will be of some benefit to you in some way as you progress throughout the year.  I also hope that you will share your thoughts with me, so that I can learn from your stories in real time.

JM

Aphorisms are little proverbs that distill lots of information into a saying, sentence or phrase.  Below, in no particular order, is a list of some of the aphorisms I use that help to guide me with my decision making.  Some of them may be useful for you also

1. Better a little caution than a great regret
2. Pride comes before the fall
3. Where the determination is, the way can be found
4. Don't let the sun settle on your differences
5. Spend less than you earn
6. Love your neighbour as yourself
7. Honesty is the best policy
8. If you never make time, how can you ever have time?
9. You don't have to make money the same way you lose it
10. The fear of the Lord is the beginning of all knowledge
11. Less is more
12. Pay twice as much and buy half as many
13. Perception is reality
14. Humility is not thinking less of yourself but rather thinking of yourself, less
15. You can always expect the unexpected

• If it is two stories or less, it's faster to take the stairs
• Eliminate as opposed to accumulate
• Always trust your own knowledge, your gut instinct, yourself.  Other people don't understand your life as well as you do
• Learn from failure and study losses not success
• Always remember that you have more to unlearn as opposed to learn.  Preconceived notions are likely to change over time
• Remain lean, agile and adaptable
• Don't delegate anything that is not worth doing, just drop it
• Never criticise, condemn or complain
• Continue to read and learn from a broad variety of people and subjects.

After months of contemplation, I decided it was not worth the hassle.  The little time I spent using it has provided no real. 

This represents the start of focusing my efforts.  Rather than attempting to be everywhere and being nowhere, I will concentrate on one thing at a time and make that my priority.  It is when I do this that I have the most success.

Focus will ensure I devote more time to the things that matter to me - reading, spending time with family and friends, reflection and my work.  Some distractions just aren't worth the sacrifice.

People have these grandiose visions about entrepreneurs... and often it's delusional.  Here are five myths I regularly see and hear about entrepreneurship:

Entrepreneurs don't have jobs: More entrepreneurs than you might expect have jobs.  Many use jobs as a secure source of cash flow while they establish their businesses.  If the business fails, it won't cost them their house in most instances either.

Entrepreneurs risk everything: Actually, many entrepreneurs are extremely risk averse.  They make calculated decisions and make calculated decisions, minimising risk as much as possible.  

Entrepreneurial ventures cost a lot to setup: This is actually not true.  Many entrepreneurs bootstrap (aka self-fund) their ventures, often for only a few thousand dollars.

Entreprenership can't be taught:  Can't it?  Then why do I know so many people who are launching their own businesses while studying entrepreneurship at RMIT or Victoria University?  People are learning entrepreneurial skills and stepping out to make a difference in the world.

Entrepreneurs have a four-hour workweek: This is not the case.  Only student entrepreneurs tend to have four-hour workweeks. Many entrepreneurs work more than their peers but do so because they are passionate about what they are involved in, and are commited to their long-term vision.

Don't believe the hype.  If you are interested in becoming an entrepreneur, then try.  Try buying a car from the wreckers and repairing it and reselling it on the road.  Try selling something on eBay.  Try writing two pages of a book.  Commit to change. Take a change and make a start today!

The key to ensuring your emails are read is to be succinct.  People don't have time to read long emails, and really only need the key information required to take necessary action.

If you think you can make your message more succinct then do it.  Less is more.

Have you ever found looking for posts or interviews where people discuss things they have learned?

Chances are you have.  While these posts are good, they miss out on a lot of the knowledge offered up by every day people who don't share their thoughts in blog format with the rest of the world. 

Although we think we know a lot, we often learn a number of things from others around us in our immediate life.  Here are a few interesting things I have learned from people in my life.

Lessons from millionaire mentors

1. If you want to be rich, you only have to work half a day every day of your life.  Whether it is the first or the second twelve hours is up to you.
2. Life is like a shit sandwich.  The more bread you have, the less shit you have to deal with.
3. I bought a $90,000 Saab Turbo and sold it two years later for $40,000.  I keep the key ring as a reminder that cars are a waste of money.
4. Watch one, do one, teach one.  This is the best way to truly learn something.
5. Promise me you won't be doing this when you're 50 (labouring as a builder / concreter / etc.).
6. If you put yourself in high risk ventures (i.e. startups, angel investments, etc.), put any profits in low risk (i.e. cash).
7. Keep a low burn lifestyle.  Invest in yourself and small businesses.  Avoid everything else.
8. Rent don't buy while you're young.  You never know when you may want to travel or will need to for work / your business. Plus, you'll save more.
9. Do what you love.
10. Set long-term goals.
11. Common sense is really not that common.
12. Save a minimum of 10% of everything you earn for investing.  It will make you rich.
13. Read the Richest Man In Babylon (recommended to me by 4-5 millionaires... but had read it prior to any of their recommendations).
14. Don't let an accountant make your investing decisions.  Make them yourself.
15. A clean site is a happy site (in regards to building - but applicable to mental clarity also).
16. Only focus on working in one or two ventures at a time.  Focus, don't diversify.

Lessons from friends and family

1. Just save first and don't worry about the money.  Sometimes after I pay the bills and save I only have enough to buy minimal food, a pack of smokes and petrol.  I just put up with it... it's only until the next pay day... and I always seem to make it through okay.
2. Party like a rockstar.
3. Everything is perception (the last two were mentioned after I told a friend a key thing I learned at uni was that "perception is reality").
4. Kettelbells will make you ripped.
5. Sometimes its good to take things as they come.
6. Always pay cash for everything. Avoid debt like the plague.
7. Fashion and dress-sense makes a world of difference in people's perceptions of you.
8. From observation: Remember the stories from your own life.  They are what make you interesting.
9. From observation: There are two ways out of a job you don't like - working upwards or finding a new job.  Most friends do the latter, but the former is the bestway to advance your career, opportunities for happiness long-term and your income.

There are a lot more but these are first ones that come to mind.  Everyone has a similar situation and has learned something from people in their lives.  What are the key lessons you have learned from the real people in your life?

l've been thinking about the number of things we try to do.

We've all been brought up to be ambitious, visionary machines. We know what we want to achieve and have a million things we would like to do with our time. Unfortunately, our time and mental attention is limited, which prevents us from being able to tackle multiple tasks.  This leaves us mentally exhausted and lacking both the time and energy needed to devote to a project.

Love him or hate him, 50 Cent has the right idea. In 'The 50th Law', Robert Greene explains that 50 never has more than five business deals he is involved in at any one time.  If he can't count them on one hand, he is diversifying his interests and mental attention too much.  

If you aren't getting anywhere, perhaps it is because you are trying to do to much. Maybe it is time to declutter your business life:

1. Focus on one business instead of three.
2. Reduce your property portfolio so that it is not negatively geared and does not drain your cashflow.
3. Exit deals, say no to clients, etc. that take up more mental attention than you can afford.
4. Learn to simplify.
5. Build up cash before planning where to invest it.

Would you be less exhausted and more empowered if you only had to work on 1-5 projects? How much more productive could this tip make you?

Graduating from the Bachelor of Business (Entrepreneurship)

2010 has been one of the most rewarding years of my life.  I have finished my formal schooling for the time beingand am starting to get things on autopilot to ensure the next phase of my life is very prosperous.  I have learned a lot about people and business in the last twelve months, and have faced a number of my own assumptions in the process.

Here are some of the things I have learned and loved in 2010.

Favourite reads of 2010: The Black Swan, Zorba the Greek and The Handbook of Style

The first two of these books has revolutionised the way I think about aspects of my life. The last one has dramatically improved my sense of style.

No one ever went broke by working

I have seen a number of entrepreneurs go back to employment this year while times are tough (myself included).  Employment is not a bad thing (despite the hatred of working for someone else in a number of entrepreneurial circles).  One of the benefits of being an entrepreneur is the ability to be lean and flexible, allowing the ability to work for someone else if necessary.

Emergency funds are lifesavers

Scott Pape (the Barefoot Investor) says $2,000 is an ideal amount, but I think $3,000 is better as a minimum, as this can buy a replacement car, washing machine, cover necessary expenses for a few months, etc.

I am better off repaying debt than investing

Many people I know claim HECS is an exception to this rule but given that additional payments of $1,000 will give you an extra $100 off the debt (i.e. a 10% discount), it is a better return than the stock market.

Do something physical daily, regardless of how small 

What gets measured gets managed

This is especially important with food intake, exercise and expenses. Record these things daily. Build this habit into your life.

Set smaller goals

I have found that I tend to be a lot more realistic and motivated when making goals for three months maximum. This habit has seen me accomplishing a number of items on my goal list (i.e. learning to swim, buying a Macbook Pro, saving an emergency fund, finishing my degree, etc.) as well as putting me in position to reach future goals and other opportunities.  

Useful Bible Quotes

Ecclesiastes 7:8 'The end of a matter is better than the beginning, and patience is better than pride.' 

Proverbs 12:9 'Better to be a nobody and yet have a servant than pretend to be somebody and have no food.'

That's it. I hope 2010 has been a prosperous year for you and that 2011 is even better still.

Happy New Year everyone!