Dafaxetentcy: Making Money Uk

For all entrepreneurs, starting a business is the route to “life, liberty, and the pursuit of happiness,” no matter how risky. It’s the American dream that has been the goal of people in this country for over 230 years. If you are here in the U.S., I hope you are all able to take some time off this holiday weekend, to contemplate what you do, and why you do it.

According to an article and poll by Startups.co.uk, having the independence to make your own decisions is considered the key benefit of being an entrepreneur. Nearly 90% of respondents said decision-making independence was very important, closely followed by more flexibility for a better work/life balance. Job creation and innovation are the results, not the drivers.

Personal satisfaction also ranked close behind, with 70% of respondents claiming it was a key advantage to running their own business. Contrary to popular belief, most business owners did not start a business just to earn more money. Only 32% of entrepreneurs cited money a key benefit of running their own firm. This indicates that lifestyle and satisfaction factors are often more important than financial ones.

As with everything in life, there are advantages and disadvantages to every choice we make. Choosing entrepreneurship is no exception. Beyond the obvious advantages mentioned above, there are some additional advantages that get mentioned often.

Challenge of originality. A good entrepreneur feels the incentive to offer a new service/product that no one else has offered before. That’s the same challenge an artist feels on every new canvas, or every musician feels when composing a new work.

High level of excitement. Entrepreneurs love the continuous challenges of a startup, and the satisfaction of solving them. Some are so high on this life, that they hate the fact that they have to "waste" part of their life in sleep!

Minimal rules and regulations. Work in a conventional job is often difficult to get done because of all the "red tape" and consistent administration approval needed. With a startup there are no rules, until you make them.

Challenge of originality. A good entrepreneur feels the incentive to offer a new service/product that no one else has offered before. That’s the same challenge an artist feels on every new canvas, or every musician feels when composing a new work.

Beat the competition and discover yourself. Competition drives innovation, and innovation drives competition. The cycle never stops. But the best part is that ultimately entrepreneurship isn’t a race against others but an opportunity to discover your potential.

Of course there are some disadvantages that every entrepreneur knows all too well:

No regular paycheck. Starting your own business means that you must be willing to give up the security of a regular paycheck. In fact, most startup founders work for no salary during the first year or two of company operation.

Few paid benefits. There will likely be no medical and dental benefits, and no vacations or other perks during the formative years. Don’t expect a staff to do the accounting, handle correspondence, or even clean the bathrooms.

Decision responsibility. All the decisions of the business must be made on your own, better known as “the buck stops here.” This may sound like an advantage, but is actually a major source of stress and loneliness for startup CEOs.

Staffing challenges. Hiring and firing decisions are hard, and that’s just the beginning. Often times, you will find yourself working with people who "don't know the ropes" and require extensive coaching and assistance. Then you have to deal with the mistakes.

By definition, if you see the rewards here as outweighing the risks, you are an entrepreneur. So you should fully appreciate the independence factor fought for so hard by our forefathers. I hope you have had time this long weekend to savor the dream. You earned it, and you need the rest.

Marty Zwilling

Read more posts on Startup Professionals Musings »

News Corp. is embroiled in a legal and ethics scandal in the U.K., and closure of the newspaper at the heart of the mess, News of the World (NOTW), has done nothing to contain the damage. News Corp. reportedly generates about 75 percent of its revenue in the U.S, and its two flagship American properties, FOX News and the Wall Street Journal, have both gone on the offensive.

WSJ: “Deluded dishonest whining victimology”

The unsigned editorial (Paul Gigot is the editorial page editor) in Monday’s Wall Street Journal has as its sub-head: A tabloid’s excesses don’t tarnish thousands of other journalists. I’ve not read such a claim, and the author doesn’t provide evidence that anyone has made it. This argument is a form of logical fallacy known as a straw man, and there are other red herrings sprinkled throughout the editorial.

In the view of the WSJ, the (apparent) turning-an-almost-blind-eye by investigators (after all, two people were jailed in 2007) is worse than the crime itself and worse than, one supposes, the passing along of favors and money that led to any blind eyes.

At least three British investigations into phone-hacking and payments to police and others by the now-shuttered News of the World tabloid are underway, with 10 arrests so far. News Corp. and its executives have apologized profusely and are cooperating with authorities. Phone-hacking is illegal, and it is up to British authorities to enforce their laws. If Scotland Yard failed to do so adequately when the hacking was first uncovered several years ago, then that is more troubling than the hacking itself.

Ah. Ten arrests so far. How many were News Corp. employees? At least seven were NOTW reporters and editors. The others – NOTW hired hands.* Arrests so often do lead to “cooperation” don’t they.

On Twitter, New York University journalism professor Jay Rosen summed up the editorial:

Deluded dishonest whining victimology delivered in the form of a Wall Street Journal editorial on the phone hacking crisis

The impetus for the editorial is vaguely related to Friday’s resignation of Les Hinton, for almost four years the CEO of Dow Jones, which publishes the WSJ. Before coming to this side of the pond, Hinton ran the News Corp. British newspaper division during the years of the phone hacking.

The editorial should be read as an example of what not to do. The Washington Post makes some of the same points in a more reasonable manner, although it doesn’t convince me, either.

It should also come as no surprise that the first interview Rupert Murdoch granted since the scandal broke went to … the Wall Street Journal.

FOX News: From Perp To Victim, Reframing News of the World Hacking

James Fallows (The Atlantic) brought this gem to my attention: last week FOX News commentators managed to frame NOTW as a victim of computer hacking, based on the juxtaposition of stories about hacking into the Pentagon, Citicorp, Bank of America and American Express. Now that’s spin!

There are two problems with making NOTW and News Corp the meat in this tasty cybercrime sandwich: News Corp orchestrated (it’s the perp, not the victim) the hacking, which was of cell phone voice mail, not computer systems housing social security numbers, bank accounts and other personal data.

What is fascinating (in a train wreck sorta way) is that FOX presents the story as one about computer security and then turns to a PR guy, Bob Dilenschneider, as the on-air “expert.” Dilenschneider used to run Hill and Knowlton, one of the largest PR firms in the world. It’s the PR guy who obfuscates by introducing Citicorp, Bank of America and American Express. “We’ve got a serious hacking problem in this country,” Dilenschneider affirms, “and we’ve got to figure out a way to deal with this hacking problem.” Wow!

Oh. And like the WSJ editorial, FOX presents poor News Corp a victim of media who “pile it on” according to Dilenschneider and FOX and Friends host Steve Doocy .

Oh. And “all those people” at NOTW got fired, Doocy said, “even though 99% of them had nothing to do with it.” [There's another logical fallacy for you - great attempt at misdirection, don't you think?]

* Who Has Been Arrested In The NOTW Scandal?

2007: Glenn Mulcaire, the private investigator (convicted)

2007: Clive Goodman, formal royal editor (convicted)

April 2011: Ian Edmondson, news editor (arrested)

April 2011: Neville Thurlbeck, chief reporter (arrested)

April 2011: James Weatherup, NOTW position unknown (arrested)

June 2011: Terenia Taras, a freelancer for the News of the World (arrested)

June 2011: An unnamed reporter from the Press Association (arrested)

Number 8: unknown as of this writing

July 8, 2011: Andy Coulson, former News of the World editor who became P.M. David Cameron’s press spokesman (arrested)

July 17, 2011 : Rebekah Brooks, News International CEO (arrested)

If you bought ‘em, use ‘em seems to be the philosophy.

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Friday, July 29, 2011

Making Money Uk

WSJ: “Deluded dishonest whining victimology”

FOX News: From Perp To Victim, Reframing News of the World Hacking

* Who Has Been Arrested In The NOTW Scandal?

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