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The bottom line: All of your investing decisions should be grounded in your own investment policy statement. By taking a top-down look at your finances and writing out a road map, your policy statement will add an important element of discipline to your approach.

Lewis Schiff

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More quotes by Lewis Schiff

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The disruption caused by globalization and technology (what Tom Friedman calls hyperconnectedness) will be around for the rest of our professional lives.
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In companies, there are three activities that should be labeled better. First there is the CORE which is the thing the company does that its customers pay it to do.
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I've got better things to do than to find my individuality in that particular area. But if it's important to me, I've got to seek my own path.
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The work I'm doing today gets me one step closer to the work I should be doing tomorrow. And that the way I learn this is by trying, failing, networking and experimenting. I'll stop doing that when I'm dead.
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One of the easiest ways to solve your problems is to look at how others have solved a similar problem. So, in this regard, we are using the same thinking of others.
Lewis Schiff
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Harkening back to a story about my grandfather, I was lucky to attend a great high school in New York, Bronx High School of Science, which has produced more Nobel prize winners than any other high school in America.
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I did in fact take a couple of classes at my local college here in NYC. But I did it unwillingly and without enthusiasm. That is until a protest broke out in the streets around campus against rising tuition costs.
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Apple makes computers and they have to be great at providing the product they promised every individual who wants to purchase from them. This is where they should spend the bulk of their energy.
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That doesn't mean we should be doing it, though. We should always be carving back those things that are comfortable and institutionalized but not necessarily impactful.
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When I started out, I wanted to have everything solved by the time I was 30. That didn't happen. Instead, I realized that the journey is the destination, that the work.
Lewis Schiff
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I also believe that at a critical point (more than six people?), that collective wisdom turns into group think.
Lewis Schiff
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I believe in labeling things.
Lewis Schiff
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One of the things all entrepreneurs struggle with is where their efforts will have the highest impact. Unfortunately, too many of us continue to do the very same things that led to our initial success because we're good at it and we've created and invested in systems to support them
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I went to work at political consulting firms, graphic design and communications firms and ultimately, magazines. Today, my career is in the media business. And more specifically, I'm in the words side of the business as opposed to video or music.
Lewis Schiff
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I would have to say that my mother's entrepreneurial perspective, and that of her father's, are very evident in my own outlook.
Lewis Schiff
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Because I work with entrepreneurs who own businesses, I have found Doug Tatum's No Man's Land to be a really helpful body of working knowledge. It's very applicable to most businesses that have the usual problems of growing businesses - managing people, capital, markets, etc.
Lewis Schiff
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As you climb of the organizational ladder, you have to redefine your role in the value chain from player to captain to coach to manager, and for some, to owner. These are different roles and you won't be able to succeed as a manager when you're acting like a player.
Lewis Schiff
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As members of a minority, one that was often persecuted, that entrepreneurial perspective was burnished with a sense of outsider status - so not only were we committed to finding our own way of achieving success, we also grew up to believe that we'd have to fight to get whatever we wanted.
Lewis Schiff
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However, I believe that large groups make markets, so serving the needs of large groups is a simple approach to success in business success. But that's no reflection on whether or not they're making wise moves or good calls. It's just about filling the need.
Lewis Schiff
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The problem is not the sentiment, it's the execution. When a company makes a mistake, the individual benefits because they've learned how NOT to do something while the institution had to pay for the mistake.
Lewis Schiff