A Quote by Bhavin Turakhia
Before I start a company, I always invest at least one year to knowing that sector thoroughly. I research about almost everything related to that business - competition, market potential, revenue model, legal and regulatory obligations, among other aspects.
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As you start the company, you start spending spending spending ahead of revenue but then you come out of it and very quickly you should become a company that spends less than it makes. And what I mean by very quickly, is that window of time should be in that 6 to 8 year time frame. And the reason is because if you build your business model correctly it's almost unavoidable.
There is a deep connection, when we're talking about certain market forces and a legal structure that inhibits low or moderate income families from getting ahead. Eviction is part of a business model at the bottom of the market.
My day job, running a fund management company, means I know that I and my team can't afford not to read every word of every document about assets or markets we propose to invest in, and to be absolutely clear we are complying with all the legal and regulatory requirements involved.
I am pleased to be part of Promontory's steady efforts to assist banks and other financial firms in meeting legal and regulatory obligations and challenges.
The business model piece is we're always talking about competing more effectively. If you're starting a company or career you don't want to compete. You want to create a monopoly. We want to invest in a company that has a good plan to create a monopoly.
I don't think any foreign Internet company can effectively compete against Chinese companies in the Chinese market. The regulatory environment is so difficult that it's almost impossible for foreigners to have an advantage over locals who have better political connections and who can manipulate the regulatory system much more effectively.
I'm always determined that as a novelist I'm going to go out there and research my characters very thoroughly before I start writing.
I like the boundaryless potential you get when you make work for a context that is open to interpretation. Thinking about an art context is too claustrophobic, though. I always hope that at least half my audience is not directly related to the art world. I use art as a balancing act. It's a good way of avoiding everyday chores and social obligations.
That might be the old model: to get a fixed fee. You have to start to think about other models and how they can generate interest - what it can do for a brand in the future - and about the fact that revenue can also be generated in many other ways... Just look at the one and a half million people at the free Rolling Stones concert in Cuba. And Cuba is not Central Park! So just use your imagination as to what kind of revenue can be made.
The market always, in theory at least, looks ahead. And it's always trying to take in every bit of information that it can as quickly as it can. You don't really care so much if the company made a dollar last year; you want to know what it's going to make this year.
Before I start writing, before I have an idea of where and when the story happens, I research it thoroughly.
Always start at the end before you begin. Professional investors always have an exit strategy before they invest. Knowing your exit strategy is an important investment fundamental.
We are all used to paying a sales tax when we buy things - almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way.
I almost never invest in ideas or plans, so you'll need to have a company and at least a product, if not customers.
In less than a year Revolution has gone from being a concept to a reality, with three rapidly growing sector companies, overseeing a dozen acquired firms that collectively employ more than 2,500 people. But we're just scratching the surface in terms of the potential to build Revolution into a new kind of company that gives consumers more choice, control and convenience in the important aspects of their lives.
YouTube has proven it can flourish in a model where there is more autonomy, and in that way I think it is an example and a potential model for other areas of the business.
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