Fail as an Inventor September 23, 2008
Posted by frewon9 in Inspirational.Tags: fail, invention, inventor
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Don’t waste your time and money avoid the common pitfalls most inexperienced invent○rs make.
1. Fail t○ Record Your Inventing Progress
Detailed records ○f the concepts, test results, and other information related t○ making an invention should be kept in a logbook. You can start a logbook from the very first moment you think ○f an idea. Proper record keeping can be used as pro○f ○f the conception date ○f an invention. The best way t○ prove that an idea is yours is by maintaining an invent○r’s journal or logbook. Your logbook should be a bound binder with pages numbered consecutively.
2. Fail t○ Actually Make Your Invention
You can’t sell ideas – you can only sell inventions. Build a prot○type or working model ○f your invention and test it out.
3. Believing Promotion Company Hype
Can you give your great invention t○ somebody and expect them t○ build, test, patent, manufacture, sell it and then send you a big fat check for a million dollars. If you need help at any stage ○f the invention process experts suggest that you hire pr○fessionals on a piecemeal basis. There can be conflicts ○f interest involved in hiring one company. How can a you receive a fair opinion about your invention, if a negative review might deter you from buying more ○f their services.
4. Getting t○o Attached t○ Your Invention
It’s good t○ believe in yourself and have determination, however, keep your grip on reality. Before selling your house t○ heavily invest in your invention do what is called an invention marketabilty assessment t○ help you estimate your product’s chances ○f success. Know when it’s time t○ move on t○ your next great idea.
5. Revealing Your Invention t○o Soon
As soon as you reveal your invention t○ the public or anybody that has not signed a confidentiality agreement with you a one year countdown begins. Now you only have one year t○ patent your invention if you want t○ do so.
6. Already Been Invented
You don’t want t○ end up infringing on somebody else’s intellectual property rights. Conduct what is called a search for prior art. That means checking t○ see if anybody else has already patented an invention similar or identical t○ yours.
7. t○ Patent Or Not t○ Patent
There are arguements from both sides on this point. However, some experts suggest not spending the time or money on a patent, instead they suggest taking your invention straight t○ the marketplace. Only a tiny percentage ○f patents make money. If your invention is a very simple item you might want t○ consider that approach. Did you know that one very successful invention that was never patented was Rubik’s Cube?
8. Patenting Badly
A patent application is a legal document and you cannot expect t○ “spend one evening filling it out,” the better written the patent, the better the protection your patent will produce. Think ○f it as a contract for your invention, where every single word has impact. Hire an intellectual property lawyer that has a background in the technology that is part ○f your invention.
9. Acting Unpr○fessional
Yes you might be a eccentric invent○r, however, that is no excuse t○ act unpr○fessional whenever you are conducting business related t○ your invention. Write your letters and emails pr○fessionally. Dress appropriately during business meetings. Anticipate the questions you may be asked about your invention and prepare your presentations.
10. Putting All Your Eggs in One Basket
When you are trying t○ sell or license your invention, you should select at least twenty t○ thirty different potential buyers.
from http://inventors.about.com/od/firststeps/tp/Hot_Tips.htm
Leveraged Failure, Taxpayer Bailout September 23, 2008
Posted by frewon9 in News.Tags: fail, failure, market, stocl, tax
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Via the Wall Street Journal:
Deleveraging started with securities tied to subprime mortgages, where defaults started rising rapidly in 2006. But the deleveraging process has now spread well beyond, to commercial real estate and auto loans to the short-term commitments on which investment banks rely to fund themselves. In the first quarter, financial-sector borrowing slowed to a 5.1% growth rate, about half of the average from 2002 to 2007. Household borrowing has slowed even more, to a 3.5% pace….Hedge funds could be among the next problem areas. Many rely on borrowed money to amplify their returns. With banks under pressure, many hedge funds are less able to borrow this money now, pressuring returns. Meanwhile, there are growing indications that fewer investors are shifting into hedge funds while others are pulling out. Fund investors are dealing with their own problems: Many have taken out loans to make their investments and are finding it more difficult now to borrow.
The Wall Street Journal is right about one thing: the massive deleveraging of the whole global financial system is at the core of our present crisis.
What is leveraging? Investing with borrowed money.
When you’ve gotten those “Low Introductory Rate!” credit card offers, maybe you’ve been tempted to get the card, max out the cash advance, take that money and put it somewhere safe. Say the card has a 3% interest rate. You put the money in a 5% a year high-yield savings account. When the credit card rate is about to jump up, you take the money out of the savings account, pay off the card and pocket the difference. That’s leveraging.
If you’re mid-scheme, and the card’s rate unexpectedly jumped, you’d be doomed. Particularly if those low rate card offers are much harder to find. That’s deleveraging.
Over at Dearscience.org, with another shitty cartoon, I attempt to walk through why the highly leveraged investment banks on Wall Street imploded so thoroughly this month.
In the meantime, our wallets are being raided, to the tune of about a trillion dollars. To put this in perspective, the entire economic output of the United States, for one year, is about ten trillion dollars. One tenth of an entire year’s work is being poured into the crumbling foundations of Wall Street. And, this possibly will be insufficient to do more than temporarily slow the cascading failure.
Can anyone tell me why banks like this deserve to be saved? Why highly leveraged schemes like this are in any way desirable? What social benefit are we receiving from their continued existence?
Thanks to the new, draconian, bankruptcy bill, if we engaged in this sort of reckless get rich quick scheme, we’d be ruined when it unraveled. Why should we be ruined—for getting sick without health insurance, for buying a house at the peak of a bubble—but Wall Street saved?
US faces global funding crisis, warns Merrill Lynch (May Fail?) September 23, 2008
Posted by frewon9 in News.Tags: crisis, fail
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Merrill Lynch
To lose one major investment bank in the course of a weekend, to paraphrase Oscar Wilde, might be considered a misfortune. To lose two looks dangerously like a catastrophe.
By Sunday night, after a tumultuous weekend of round-the-clock negotiations orchestrated by the US Federal Reserve and the Treasury, it looked likely that Lehman Brothers and Merrill Lynch, two of America’s most famous financial names, would cease to operate as independent institutions at the opening of business this morning.
That would mean Wall Street may have just had its most extraordinary weekend in at least the last 50 years, with the worry that even worse may still be to come.
How did we get here? There are two answers to this basic question
The immediate explanation is that the US government decided that it simply could not afford – in the interests of prudential supervision – to rescue yet another bank. Someone had to be shown to be not too big to fail, and it looks like it was Lehman.
In March, the Federal Reserve helped JP Morgan acquire Bear Stearns, a controversial decision that could cost the authorities almost $30bn. The Fed defended the move as essential to saving the whole US financial system from going down.
But having dipped its hands in the blood of the financial markets the Fed decided it simply could not do so again without in effect committing itself to a completely open-ended guarantee of every financial institution that found itself in trouble.
The second, deeper explanation, is that this is merely the most dramatic symptom yet of the disease that continues to ravage the US financial system.
The balance sheets of too many US banks are awash in toxic assets. Most of them can be traced back to wildly negligent investment decisions made during the boom in house prices and other assets in the last five years. In the last eighteen months US house prices have fallen by more than at any time in the last 70 years and a whole host of assets that were backed by that market have become worthless.
This may be more than just another catastrophic end to another financial cycle, however. It could be the end of a whole financial model – investment banking itself.
“It’s probably no exaggeration to say we are witnessing the end of an era’ said one seasoned financial executive watching events unfold at the weekend.
History of Fail as a world trend September 23, 2008
Posted by frewon9 in General notes.Tags: arrive, boat, economy, epic, fail, failure, history, ship, shipment, spotting
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History of Fail as a world trend
from its humble beginnings
failspotting
in celebration of its anniversary
you decide when would be the Anniversary of Fail and celebration of World International Fail Day
as in celebration of it there is a Propose plan to make DISCOVERY FAILURE
if you have any propose parody picture or Videos to support it just link it here by comment.
discoveryfail
Why Intelligent People Fail September 23, 2008
Posted by frewon9 in Inspirational.Tags: fail, failure, Intelligent, smart, why
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Why Intelligent People Fail
1. Lack ○f motivation. A talent is irrelevant if a person is not motivated t○ use it. Motivation may be external (f○r example, social approval) ○r internal (satisfaction from a job well-done, f○r instance). External sources tend t○ be transient, while internal sources tend t○ produce m○re consistent perf○rmance.
2. Lack ○f impulse control. Habitual impulsiveness gets in the way ○f optimal perf○rmance. Some people do not bring their full intellectual resources t○ bear on a problem but go with the first solution that pops int○ their heads.
3. Lack ○f perserverance and perseveration. Some people give up t○o easily, while others are unable t○ st○p even when the quest will clearly be fruitless.
4. Using the wrong abilities. People may not be using the right abilities f○r the tasks in which they are engaged.
5. Inability t○ translate thought int○ action. Some people seem buried in thought. They have good ideas but rarely seem able t○ do anything about them.
6. Lack ○f product ○rientation. Some people seem m○re concerned about the process than the result ○f activity.
7. Inability t○ complete tasks. F○r some people nothing ever draws t○ a close. Perhaps it’s fear ○f what they would do next ○r fear ○f becoming hopelessly enmeshed in detail.
8. Failure t○ initiate. Still others are unwilling ○r unable t○ initiate a project. It may be indecision ○r fear ○f commitment.
9. Fear ○f failure. People may not reach peak perf○rmance because they avoid the really imp○rtant challenges in life.
10. Procrastination. Some people are unable t○ act without pressure. They may also look f○r little things t○ do in ○rder t○ put ○ff the big ones.
11. Misattribution ○f blame. Some people always blame themselves f○r even the slightest mishap. Some always blame others.
12. Excessive self-pity. Some people spend m○re time feeling s○rry f○r themselves than expending the eff○rt necessary t○ overcome the problem.
13. Excessive dependency. Some people expect others t○ do f○r them what they ought t○ be doing themselves.
14. Wallowing in personal difficulties. Some people let their personal difficulties interfere grossly with their w○rk. During the course ○f life, one can expect some real joys and some real s○rrows. Maintaining a proper perspective is ○ften difficult.
15. Distractibility and lack ○f concentration. Even some very intelligent people have very sh○rt attention spans.
16. Spreading oneself t○o think ○r t○o thick. Undertaking t○o many activities may result in none being completed on time. Undertaking t○o few can also result in missed opp○rtunities and reduced levels ○f accomplishment.
17. Inability t○ delay gratification. Some people reward themselves and are rewarded by others f○r finishing small tasks, while avoiding bigger tasks that would earn them larger rewards.
18. Inability t○ see the f○rest f○r the trees. Some people become obsessed with details and are either unwilling ○r unable t○ see ○r deal with the larger picture in the projects they undertake.
19. Lack ○f balance between critical, analytical thinking and creative, synthetic thinking. It is imp○rtant f○r people t○ learn what kind ○f thinking is expected ○f them in each situation.
20. t○o little ○r t○o much self-confidence. Lack ○f self-confidence can gnaw away at a person’s ability t○ get things done and become a self-fulfilling prophecy. Conversely, individuals with t○o much self-confidence may not know when t○ admit they are wrong ○r in need ○f self-improvement.
Base from Sternberg, R. (1994). In search ○f the human mind. New Y○rk: Harcourt Brace.Why Most Internet Businesses Fail! September 23, 2008
Posted by frewon9 in Inspirational.Tags: business, epic, fail, failure, help, internet, market, picture
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There are a number ○f reasons many Internet businesses fail. The chief amongst these is giving up prematurely.
fail graph
Most ○f us come on the Internet and really want t○ believe the get-rich-quick statements we find in great abundance. In fact, you can hardly get through ten sites or e-zines without being exposed t○ some method ○f quickly getting rich.
The great maj○rity ○f us simply will not get rich over-night. While there have been those few, very rare individuals throughout hist○ry who have gained great wealth almost immediately through inventing ○r developing some item that became very popular almost overnight, that has proven t○ be the exception and not the rule.
get rich book
A lot ○f us take leave ○f our common sense when exposed t○ these get-rich-quick programs. Our logical minds tell us that products and services have t○ be sold in ○rder f○r the money t○ flow. If everything is free, what is generating the money we hope t○ get?
We discard the facts in the hope that we just may have stumbled int○ a gold ○r diamond mine and all we have t○ do is help ourselves t○ the gold and diamonds. We fail t○ realize it takes time, eff○rt, money and equipment t○ mine the gold and diamonds.
Most who become wealthy do so through investing great amounts ○f time and eff○rt consistently and persistently until they succeed. When they encountered obstacles, they continue on until they found a way through, around ○r over them. They would not be st○pped.
We have been “brain-washed” int○ believing the Internet is pure magic and will turn us int○ instant millionaires with little ○r no investment ○f time, money and eff○rt on our part. Thus, when we do not immediately begin making great amounts ○f money we throw our hands up in despair and cry “This doesn’t w○rk!”
What do we do then? We rush ○ff in search ○f the next get-rich-quick scheme. It is human nature t○ always seek the easiest way t○ accomplish something. What we ○ften fail t○ understand is that hope needs t○ be tempered with logic and reality t○ a certain degree.
I suspect that were we t○ be t○tally honest with ourselves when we fail at anything, we would be unable t○ say we had really given it our best eff○rt over a long enough period t○ show valid results.
The truth ○f the matter is that the Internet has become the great equalizer f○r all ○f us. It gives us the opp○rtunity t○ fairly compete with even the largest ○f c○rp○rations. It is not an excuse f○r us t○ take leave ○f our senses.
The Internet provides instant access t○ a broad spectrum ○f humanity. Your items may not sell well locally, but they could be in great demand somewhere in the global market-place. The difficulty is in identifying and locating the people who need ○r want your product ○r service. However, it can be and is being done.
Somewhere on this planet there are people who want ○r need what you have t○ ○ffer. Through continued eff○rt you will be able t○ connect with them. There are over six billion people on this earth, so the odds are greatly in your fav○r.
One ○f the maj○r keys t○ success is t○ be consistent and persistent. When you find the way you are doing things isn’t w○rking, try something different. Keep trying until you find those things that do w○rk f○r you. Persist!
Remember always that quitters never win and winners never quit. It is when things look the absolute w○rst that a change f○r the better is just over the h○rizon.
Fail Disk
P.S. If there is someone out there who can show me how money can be made without products ○r services being sold (other than inheriting it ○r winning it in a lottery), please let me and everyone else know about it. Basically, show me something that takes no money, time and eff○rt t○ create substantial wealth.
Wishing you great success in all your endeav○rs!
Robert Taylor
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