A successful entrepreneur based in Los Angeles, California, Bill Asher has used his Ivy League education to build businesses in several different industries. At the start of his career, Bill Asher worked with various companies in finance, which is an important skill that an entrepreneur must have.
An entrepreneur must have knowledge of many aspects of business, with accounting and finance being important. A degree in this field is not essential, but some understanding is required.
Budgeting is an essential skill for any entrepreneur looking to start a successful business. The entrepreneur must be able to develop a detailed plan on how finances are both acquired and spent and gain an understanding of cash flow and balance sheets as well. As the business is legally its own separate entity, business and personal finances must remain separate.
Understanding credit will allow the entrepreneur to ensure that they borrow money wisely and understand the terms of any loan. Capital can be difficult to acquire for a new business, so it is pertinent that borrowed capital is used properly. The ability to make sound investments with limited capital can help realize future growth and profit.
Perhaps best known for his work with Playboy and Vivid during the late ’90s and early 2000’s, Bill Asher has succeeded across multiple industries. More recently, Bill Asher ventured into fantasy sports.
Fantasy sports allow participants to assemble an imaginary team of players from a sports league and compete against other drafters to compare the statistical success of the various rosters. Now more than ever, it’s easy to get started with fantasy sports.
First, pick your sports league. According to IBISWorld, the NFL holds about 36% of the fantasy sports market. However, strong fantasy leagues exist for the MLB, NBA, car racing, and even esports!
If you have friends who also enjoy fantasy sports, you may prefer to organize a private league with them where you don’t have to play for cash and the winner gets bragging rights. However, if you’re looking for a financial incentive, there are many places online to test your drafting skills against others for cash prizes. Fanduel and DraftKings are two major players in this area.
Before you go into the draft, make sure you know how points will be awarded and have resources to hand to help you make smart decisions and get your hands on the best players. Many websites feature expert opinions from people who have spent decades watching the sport you choose, and fantasypros.com has a page that compiles the consensus of the experts to let you see at a glance who should be your top priority.
Keep in mind the risk of injury and try to have a backup plan if you draft an injury-prone player, just in case. Above all, remember to have fun and enjoy the learning experience
Entrepreneur Bill Asher is the co-owner of Vivid Entertainment. A leading authority in the entertainment industry, Bill Asher took content to the masses through partnerships with cable television networks, achieving significant success as a business person. Like many entrepreneurs, he has also experienced failed ventures, such as his attempt to introduce an uncensored music television network, before achieving success.
Before co-founding Microsoft, Bill Gates was part of a team that founded Traf-O-Data, a company that recorded traffic information through wired cables next to roads and relayed the information to government authorities and private companies. The company never gained traction and ultimately, failed.
Nick Woodman, the founder of GO Pro, also faced failure in his first venture Fun Bug. The company attempted to revolutionize marketing by combining it with gaming. It was a complete miss that cost investors millions of dollars. Other well-known entrepreneurs who have experienced failure include Paypal co-founder Peter Thiel whose fund Clarium Capital burned through 90 percent of its assets, Milton Hershey whose first three candy companies failed, and Reid Hoffman whose first social networking company before LinkedIn, SocialNet, failed.
Other entrepreneurs made huge mistakes while running their companies. For example, when Jeff Bezos launched Amazon to sell books, people exploited a glitch in its system to receive credit from the company. Later on, when the company started selling toys, Bezos had trouble forecasting demand for the holiday season, leaving the company with millions worth of toys after the season ended that had to be given away.