Inside information is defined as material information about a company which is known by the company’s board of directors, management, and/or employees but not by the public. The SEC forbids trading based on such information. Don’t worry; I am not talking about that! I recently read about following entrepreneurs on Twitter which would be the ultimate inside information.
When I was very young, I read biographies of famous people to learn how they became successful. Of course, I had to wait to read about them until a book or article was written about them. In almost all cases, the person was dead and part of history. I read all I could, but it wasn’t enough! I remember reading magazines as many as I could, but it was dated. Now I can have much more timely information!
Imagine getting firsthand information on a daily basis from the individual you are following. Why imagine, you can do it simply by following them on Twitter! I realize this is not new to any of you, but seeking out specific entrepreneurs who may share their insight and knowledge in the form of daily blogs, Tweets or other digital information. It would be like having Warren Buffett sharing his thoughts with you daily!
As an entrepreneur, I kept a team of advisers that I could tap for information, advice and guidance. This may replace some of information; I used to receive from my team of advisers. The next question is who should I follow and what will they give me? I would start with the people I respect and read now. It may be a business person, venture capitalist, author, expert or just an idea guy. I read a lot anyway and this may provide more focus.
I would love to know what successful people are thinking and doing! Just that would be enough, but you can learn so much more. Technology is amazing! There is so much on the internet, but this is the information I want and so should you. Forbes highlights twenty-five (25) entrepreneurs you should follow on Twitter. You can find out what makes them tick, read their blogs, articles they find valuable, opinions, and insights.
This is another form of networking! You probably will not meet any of these entrepreneurs, but you get a chance to learn from them. It is almost a continuous interview, but you only occasionally get to ask questions. I n some ways, it is better than a traditional contact that you get much more interaction. It is much more like a mentor relationship, but not as personal. Either way you define it, it is a great resource.
What is your objective? Learn all you can and use the information. There is a tremendous amount of information in the internet, but we need a filter or guide to help us find what is most useful. These entrepreneurs can guide you to find some of the best information out there. Think of it as an entrepreneurship class or a private lesson, it does not matter! At the very least, you are getting information or possibly a connection.
Technology has made it so easy for everyone to have access to as much information as we can handle. How much can you handle? The list of these entrepreneurs is just a start of the resources you should accumulate. Their suggestions in terms of what they read, tips, opinions, advice etc will certainly lead to more people you may want to follow. I plan to follow them and find more people to follow. I hope you will follow me and use social media to let others know what they should do. I would call this the ultimate inside information and it is legal!
Photo by: Flickr
arnival of Retirement at Cash Cow Couple
Carnival of MoneyPros at Master the Art of Saving
Finance Carn. for Young Adults at Finance For Young Adults
Yakezie Carnival at This That and the MBA
I would call this the ultimate inside information and it is legal!