This quote from Edison just came to me… and is a good reminder for all of us as entrepreneurs to keep the faith:

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” ~ Thomas A. Edison

Keep the faith.  Get the right people involved.  Ask the right questions…  Success is always close by.

I recently received a link to the following article on “What makes entrepreneurs entrepreneurial?”.  This is a great paper- with at the author Saras D. Sarasvathy‘s analysis of two types of reasoning- causual reasoning and effectual reasoning.  Causual reasoning is what I would call more traditional “MBA” reasoning… that is, a given, specific goal is targeted within a given set of means to achiving the goal. Effectual reasoning imagines a number of possible goals, given the available means, allowing for a selection of the right goal given the means available.  Or in the words that some of my clients and friends will recognize, Casual reasoning is convergent, effectual reason is divergent (analysis versus synthesis)… Metaphorically speaking causual reasoning is about being a settler, while effectual reasoning is about being an explorer.  What makes this particular version of this article interesting is that it is hosted at Khosla Ventures’ website… and the commentary that is handwritten on the article gives the original article much more depth in contrasting the view of the author’s academic focus with the commentor’s entrepreneurial focus.  All in all, this is a great article discussing the distinction between the two reasoning styles.  Data for the basis of this article was taken from 27 different entrepreneurial firms, all that had been grown and run to the tune of $200 Million to $6.5 Billion.

What is important to think about when reading this article is how you are approaching your venture, especially with regard to what stage your venture is in.  Neither method of reasoning is “more right”… and both must be employed in getting a venture off the ground and successful.

Over the holidays I found out that my friend B.J. “Billy” Stanberry has been busy with his solar power startup, called HelioVolt.  Billy has come up with a new way to both increase the output of solar cells, as well as a method for making it very easy to apply / install / almost “paint” the solar cells onto a target building (or surface)… and due to the innovative nature of his process, he is being recognized for it…  TIME Best Inventions 2006″>Time has awarded him one of the “Best Inventions 2006”, and the Wall Street Journal has awarded him two Wall Street Journal Innovation Honors.  Congratulations Billy!  More than just adding new solar products to the marketplace, Billy is changing the dynamics of what is possible with solar power.

At the beginning of most books, there are acknowlegements and dedications.  As I start this blog to share my insight into building communities of entrepreneurs, I would like to start with a dedication… to my grandmother who passed just a few months ago. She has been many times the inspiration that has supported me along the way of being an entrepreneur… with her insight into worlds that I never saw of not having electricity, phones, and other items that we take for granted in today’s high pace of technology and business.

Grandma, I miss you loads. I miss our Sunday lunches together. I dedicate this blog to you, and the insight that you gave me of looking into the past, how you grew through all of the changes in the world, how you shared your perspective of building community through the community around your church… and how when I say “shared barn building” (about how we in Bootstrap Austin ) talk about building our startups together, you have given me a true grounding in the topic.  Thank you. I miss you.