Chapter
Industry Standard
43:07 - 49:31 (06:23)
The speaker advises entrepreneurs to be cautious of people who demand industry standards, as this may be a tactic to dodge negotiation and take advantage of them.
Clips
The speaker shares a personal story about their parents who built a small chemical company over 20 years, starting from scratch.
43:07 - 45:18 (02:10)
Business
Summary
The speaker shares a personal story about their parents who built a small chemical company over 20 years, starting from scratch.
ChapterIndustry Standard
EpisodeData-Based Businesses, Executive Briefings, and Spotting Scams with Anand Sanwal
PodcastMy First Million
The host discusses the difficulty of building an industrial conglomerate and the importance of managing risk while still moving forward with deals.
45:18 - 47:20 (02:02)
Industrial Conglomerate
Summary
The host discusses the difficulty of building an industrial conglomerate and the importance of managing risk while still moving forward with deals.
ChapterIndustry Standard
EpisodeData-Based Businesses, Executive Briefings, and Spotting Scams with Anand Sanwal
PodcastMy First Million
The use of the phrase "industry standard" should make entrepreneurs curious about why they are being asked to conform, as it often indicates an unwillingness to justify a particular term.
47:20 - 49:31 (02:10)
Entrepreneurship
Summary
The use of the phrase "industry standard" should make entrepreneurs curious about why they are being asked to conform, as it often indicates an unwillingness to justify a particular term. It's important to focus on substance over appearance.