SJ Editorial Team
By Shannon Leonard
We’ve written before about how to maximize startup revenues through strategic startup finance and various other strategic initiatives. And to be sure, stretching every bit of capital you have in the early going is a fundamental necessity for any small business just starting out. But finances continue to be challenging for business owners long after the initial startup process, and sometimes this goes unaddressed in pieces of advice for business owners.
Specifically, the idea of what a business owner ought to do with profits once they start coming in is not discussed frequently enough. It can be such a massive undertaking to generate profits in the first place that a lot of people don’t know how to make the most of them once they arrive. As a reminder, “profit” refers specifically to whatever revenue is left after addressing necessary expenses (debts, costs of operation, payments to employees, maintenance, etc.). Often, the temptation is to pocket the profits, given that the ultimate goal of any startup is to earn money.
Do you recall the trial that ended a week ago in which Ellen Pao charged her former employer with discriminating against her on the basis of sex and race? She not only lost but was thoroughly trounced by the jury.
Well now, that very same Ellen Pao, victim of sexual and race discrimination, openly admits to implementing a policy at Reddit where she’s still CEO for some unfathomable reason that discriminates against people for being white and male. (Perhaps she is still CEO because Reddit fears the same legal assault as her former employer and is moving cautiously to build a case for firing her?)
The Scorpion and the Frog
A scorpion and a frog meet on the bank of a stream and the
scorpion asks the frog to carry him across on its back. The
frog asks, “How do I know you won’t sting me?” The scorpion
says, “Because if I do, I will die too.”
The frog is satisfied, and they set out, but in midstream,
the scorpion stings the frog. The frog feels the onset of
paralysis and starts to sink, knowing they both will drown,
but has just enough time to gasp “Why?”
Replies the scorpion: “It’s my nature…”
Walter Isaacson, author if “Steve Jobs” and “The Innovators”
Walter Isaacson and two pioneers of the Internet, Vint Cerf and Bob Kahn, discuss Isaacson’s new book, and how their collaboration changed the way the world communicates.
In his new book, The Innovators: How a Group of Hackers, Geniuses, and Geeks Created the Digital Revolution, Walter Issacson explores the power of creative and disruptive innovation.
This conversation, led by Cerf, Google’s Chief Internet Evangelist, and delves into Isaacson’s story of the Digital Revolution and the people who made it happen.