The mindset of an entrepreneur & 9 investment criteria

A very interesting video from Fabrice Grinda, a very successful US-based French serial entrepreneur and angel investor.

Fabrice is currently CEO of OLX, a free online classifieds site used in over 91 countries in 39 languages. The company was founded in March 2006.

In this video, he talks about the mindset of starting your own business and when to use strategic thinking. He also discusses the nine business selection criteria he uses to decide whether or not to invest in a company.

If you find what Fabrice says interesting, you can also follow his blog: Musings of an entrepreneur, where he talks about business but also many of his other interests.

 

The story of Dropbox

Drew Houston, Founder of Dropbox

Drew Houston, Founder of Dropbox. Click on the cover to access Forbes' article

I’m not sure if anyone of you is using Dropbox, but if you don’t, give it a shot. I do use it, well, daily, but without even thinking about it!

It’s a great system to automatically back up and synchronise any file online, from – and to – several devices. And it’s free for up to 8Gb of storage (96% of their users!). I love it!

Forbes actually just released a brilliant article about the company: Dropbox: The Inside Story of Tech’s Hottest Startup

Well worth a read, it’s a brilliant company founded by a very driven and talented entrepreneur; who is also determined to grow his own company as he refused a multi-million dollar buyout offer from Apple!

What I love about Dropbox is that it seems like such an obvious and simple idea, yet it’s a powerful tool, that works wonderfully and seamlessly. Too many tech companies nowadays try to have too many features and their product then becomes cluttered, clunky and not user friendly. With, it’s the opposite, it does something simple (in appearance, I’m not talking about the technology behind!), but does it perfectly, in a very streamlined way!

I think that is something so key in business: you don’t need to do something complex, you can do something simple and you will succeed if you make sure that you are the best at doing it; and that you solve an actual problem.

The article also asks a great question though: can Dropbox survive the arrival of iCloud and the probable arrival of a competing product from Google? Will they shine or be the next MySpace? Any thoughts?