#039 - Brain vs Capital - how to build a business from components (Part 2), with Prof. Günter Faltin, Germany

This is Part 2 of my interview with Professor Günter Faltin, from Germany and at the same time a successful entrepreneur.

Briefly, I consider him as a kind of the German version of Tim Ferriss, as his book Brain vs capital is similarly influential in entrepreneurship in Germany, similarly to Tim Ferriss’ book especially in the US, but also worldwide.

You can learn in this episode why the MBA person often clashes with the entrepreneur, why a business plan is not actually a plan, what Prof. Faltin thinks about entrepreneurship, how it could be applicable for many of us. We talked also about outsourcing, what’s crucial about it, how it can work in expensive countries. We have many many more topics, including the “ultrafast round” with 4 short questions so here you go. Enjoy.

Raw transcript is available at: https://www.thehardwareentrepreneur.com

Show highlights can be seen below:

• What entrepreneurship has to do with art and how it is different from business administration - [2:30]
• “The moment the business plan leaves the printer, it's outdated” – or is a fixed business plan a dangerous thing to do? - [6:35]
• Entrepreneurship for the many and our underutilizing our brains - [10:49]
• Why is it important to create a business model that can afford to work with professionals? - [14:33]
• Mistakes, or opportunities to empower yourself while growing a stable business - [17:10]
• Entrepreneurship – an existential exercise that helps personal development - [19:35]
• If you could time travel and go back in time, what notes would you give yourself? – [22:40]
• Which book had the biggest impact on his career? – [23:53]
• Prof. Faltin’s early morning routine – [25:25]
• Some cultural differences that Prof. Faltin observed in terms of entrepreneurship – [26:46]
• What is the best way to reach Prof. Faltin? – [28:50]