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After taking the summer off I’m back on CFAX 1070 talking about entrepreneurship.

This month we talk about the importance of focus in order to be successful in entrepreneurship. We use examples of how when various entrepreneurs were distracted by buying sports franchises their businesses suffered and in some cases failed.

As always fast forward to about 34 minutes and enjoy!

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Ray Kroc

With all the mega success stories of young entrepreneurs like Bill Gates of Microsoft, Sergey Brin and Larry Page of Google and Mark Zuckerberg of Facebook one can be left to wonder whether it’s too late to become an entrepreneur if you’re not in your twenties.

On today’s monthly CFAX 1070 segment on investing and entrepreneurship we discuss late in life entrepreneurs like Ray Kroc (who bought McDonald’s when he was 52), Harland Sanders (who founded KFC when he was 65) and Robin Chase (who founded Zipcar at 42).

The short answer is, “no”, mid-life is not too late to have a big win!

As always click the following link and fast forward to about 32 minutes.

Lessons Learned

Today Ian Jessop and I talked about some of lessons I’ve learned through building, running and selling two of my businesses.

Click this link and fast forward to about 32 minutes and listen in: https://soundcloud.com/ian-jessop-cfax/march-2-2pm

Some of those key lessons include:

– focus on customer cash over all other sources of cash;

– let underperforming staff go more quickly, and;

– invest less of my own money and grow the business more from customer cash than equity.

We also talked about how entrepreneurship isn’t for everyone and there are good arguments for some to go the job route. Some of these include:

– paid education;

– being held accountable by your employer;

– being part of bigger game;

– forming meaningful relationships, and;

– having more disposable income.

Refer to this entrepreneur.com article for more insights: http://www.entrepreneur.com/article/242951.

Vanderbilt

There are political entrepreneurs who exploit relationships with politicians to enrich themselves and there are market entrepreneurs who rely on providing their products or services better, faster, cheaper and more efficiently.

On today’s CFAX 1070 segment on investment and entrepreneurship we talk about Uber and taxi companies, Charles Schwab and the US steel industry, Robert Fulton and Cornelius Vanderbilt and the steamship industry before the turn of the century and even WestJet and Air Canada. You can guess which of these were political entrepreneurs and which ones weren’t!

As always, fast forward to about 32 minutes and listen in: https://soundcloud.com/ian-jessop-cfax/february-2-2pm

On December 29 we had an interesting hour long segment on entrepreneurship and investing on CFAX 1070.

Uber

In the first half hour we discussed Uber which is turning the point-to-point transportation (ie: taxi) industry on its head. Taxi cabs have operated in an artificial market protected by regulations that rarely if ever provide a better or safer service for the customer. In fact in cities like Vancouver and San Francisco where there are 1 and 1.9 cabs per thousand people, this regulated market has only protected the cab drivers.

Uber has developed an application and pricing scheme that is upsetting the whole sector and providing consumers with choice.

Nuttea

In the second half we welcome Mayank Chauhan of NutTea of http://www.nutteabar.com who pitches me on his start-up business which has developed an organic, tea infused energy bar.

Click here and listen in: https://soundcloud.com/ian-jessop-cfax/december-29-2pm

On this month’s segment we discuss two great entrepreneurial success stories and investments.

Click the following link and fast forward to about 33 minutes:

WestJet was founded in 1996 and has gone on to become one of North America’s greatest airline success stories. It has survived a voluntary shut down, 9/11, SARS and the 2008/9 economic meltdown. When other airlines around the world were shedding staff, filing for bankruptcy, forcing staff to take unpaid leave and postponing important capital investments WestJet showed its 26th consecutive quarterly profit!

Apple has a market capitalization of just under US $700 billion and survived a near death experience. Steve Jobs, it’s founder and CEO, (from 1977 to 1983 and again from 1996 to his passing), not only created products but, more importantly, created categories. We talk with a caller about the future prospects for this business and as an investment.

I am not nor have I ever been an investor in either WestJet (WJA on TSX) or Apple (AAPL on NASDAQ).

I recommend the following reading on both companies: Flight Path by Peter Grescoe on the WestJet story and Steve Jobs by Walter Isaacson on the Apple story.

This month we talk about stock market crashes. Namely we talk about Tulipmania in 1637, the South Sea Bubble in 1721, the 1999 technology bubble and the 2008 economic meltdown.

Click below, fast forward to about 32 minutes and enjoy!