According to the book Shortcut Your Startup by Messrs Courtney and Carter Reum, new technology means that the time it takes for an entrepreneur to become phenomenally rich has never been quicker. And they should know. Formerly employees of Goldman Sachs and now startup veterans, the brothers helped to take companies such as Under Armour and Vitamin Water public with M13, their brand development and investment company.
But before you get ahead of yourself and tell your boss where to stick it, Mr Courtney Reum would like to remind you that while technology has speeded up the rate at which startups can achieve phenomenal growth, it has also intensified the level of competition in the marketplace. “The internet allows entrepreneurs to start some businesses for as little as $5,000,” he says. “This has also created an environment in which it is more challenging to compete and grow.”