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Advice for Small Business Owners

Posted On: 2005-04-08Length: 13:00

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Hello and welcome to SMB Trendwire, the audio conversation for the small business marketplace. Our online home is www.smbtrendwire.com. My name is Steve Rucinski, your co-host for today's conversation. We've got something different for today's conversation. Barry Moltz is our guest, a former corporate executive and entrepreneur and an age-old investor. Barry started is career at IBM and from there went on to Whitman Hart where he was in sales and a number of the executive committee. Barry spent the 1990s as an entrepreneur, co-founding three separate start-up companies, the last of those, Flytech, he sold in 1999 and then went on to co-found an Angel investing organization, Praire Angels in the year 2000. Barry is on the board of the Angel Capital Association, which is the national professional alliance of Angel groups. As if that weren't enough, Barry is also an author. He's written a book for entrepreneurs called "You Need to be a Little Crazy-the Truth about Starting and Growing your own Business." Barry can be found on the web at www.b-a-r-r-y-m-o-l-t-z.com. Welcome, Barry.

Thanks, Steve. It's great to be here.

Barry, you're going to do something a little different for us today, he's going to be doing an author's reading. He'll be reading an article he's just written for this occasion called "Stage a Business Coup". He's also going to be giving the back story behind the article, the inspiration for the article, and what he'd like entrepreneurs and small businesses to take away from it. He'll also share a little about his motivations for writing, in other words, what compels him to write, when he's obviously has been a successful business owner and investor. We're speaking to you today from the Cleveland, Ohio area in the Midwest of the United States. Barry joins us from his office in Chicago, Illinois in a different part of the Midwest. Ok. Let's get started. Let me welcome my world-famous co-host, Anita Campbell, from Small Business Trends, welcome Anita, why don't you get us started.

Hey, thanks, Steve. And welcome Barry. Not only is a great for our listeners to have you with us, but I'm a huge fan of yours, so personally I'm thrilled to have you here.

Thanks, Anita. I'm delighted to be here. I'm a big iPod user, and I personally always been intrigued by podcasts since I load so many CDs and other kinds of things besides music on my iPod when I travel.

Well that's great. Well, now you're going to be on one. So, how about that. Before we jump into talking about the article that you're going to be reading for us, I want to ask you Barry about something I think everyone's going to get a kick out of. And that's your business card. You sent it to me, and I love what it says on your card.

It says that you really have to have three things to be an entrepreneur. One is passion, courage and a streak of craziness. And the reason I say passion is, a lot of people want to start businesses because they want to make a lot of money. I say if you want to make a lot of money in the next five years, you should go find a job. Because you have more of a chance to make money in the first five years working for somebody else than working for yourself. If you don't have passion to see your ideas succeed or fall, then when things get difficult, you never really survive. I think also you need courage. I often think that entrepreneurs are some of the bravest people in the world, because when we get up every day, Anita...

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