Doriot's Business Advice

George Doriot, for whom the term Venture Capitalist was coined, said that to succeed in a high tech business you need "resourcefulness, perception, courage, mental honesty with yourself, and complete dedication to the business."

Doriot's checklist is helpful but these attributes are hard to see in oneself. My husband chuckles over my resourcefulness around the camp and I know when I'm being courageous (or not). Mental honesty is an on-going project and I suppose you need perception for that.

As for dedication, a recent friend and potential partner finds my loyalty to my clients amusing. But my loyalty to them is what keeps them loyal to me. Besides I'm so addicted to my computer that making money with it is only a side benefit.

I've labored for some time over the questions of when do I know enough to call myself an expert? and how should I advertise? A designer in a neighboring town admonished me recently for undercutting the market by charging too little, so what should I charge? is still a puzzle.

Ready or not, word of mouth and experience with my clients are growing my business for me. Of course my husband's casual promotion around town helps, too. My marketplace appears to be here in my own town. But it's true, I give away too much. After all, I still have a mortgage.

Doriot says "dedication to the business" which means all aspects of the business, including making money.