I thought business people would prefer to watch business information when they had time, not when it was broadcast. Streaming video was new, so I started thinking about a multimedia site for business owners. We formed a new company as an offshoot of The Applegate Group, our news service. We create and market video segments for online and on-air delivery. They love it because they can watch what they want when they want to.
Cash flow is a top priority.
What amazes me is their diversity of ideas. They're too optimistic about when they'll turn a profit. They rush into a contract to beat the competition, but they hurt themselves by underestimating the cost or underbidding it. It's important to work out the details before signing a deal. I think it's the ability to set aside your ego and ask for help.