To become truly innovative, companies must learn to accept, discuss and learn from their failures, write Paul Boston and Bin Zhao for Ivey Business Journal.
For many businesses failure is a dirty word. Operating in a society where perfection is espoused and so-called “overnight success” stories are celebrated, senior managers are reluctant to admit to their company’s failures, let alone...
How can a product or service be wildly successful in one part of the world but of relatively little interest in another?
While globalisation may seem to have made the world smaller and more uniform, cultural differences are still significant. Addressing those differences can be a key to succeeding against larger and comparatively monolithic companies in any given region or country....
If you’re new to investing, there are three main options to consider.
Are you in a position to invest in a startup business? Have you come across a new company that complements your own and needs a cash injection? Maybe your company has reasonably large amounts that can be tied up long-term?
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The cloud is and will continue to be key to the success of startups. Airbnb and Uber would not exist without cloud computing.
“The cost of having to build all of this functionality in-house would have killed their business models before they were even born.”
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Farmers have been running their own businesses for millennia, and have plenty to teach us.
“The qualities that help farmers prosper prove just as powerful for startup CEOs,” Tim Handorf, CEO of G2 Crowd, writes for Quartz. Handorf grew up on the family farm in Iowa, and he believes that the values instilled in him there have been integral to his success today.
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If you work for a unicorn startup, you must consider how potential changes in its capital structure will affect your stock option.
Many employees or prospective employees don’t know everything they need to know about the potential long-term value of their stock options, and do not even attempt to find out. “To bring this home, it’s like negotiating your salary without specifying the...
One woman’s story shows that even the busiest people can find enough time to launch a business.
Embarking on your dream project might sound impossible if you are already weighed down by commitments. But advice from an entrepreneur who started her company while she also had a husband battling cancer, and a baby to care for, might just change your mind.
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When you embark on a new venture, resist the temptation to be smug – get appropriate advice and employ fresh strategies.
As an experienced entrepreneur you almost certainly have a tried-and-tested business formula you rely on to stay on top of the game. But it’s risky to believe that model will carry you smoothly into a new market.
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If you’re cooking up a career as an entrepreneur, there are some key ingredients you would be wise to toss in the mix.
“Be ready for the extreme ups and downs, the sleepless nights, the despair, the feeling of being alone, the hope, elation and the excitement.”
How do you build a startup with no venture capital? Slowly – but you’ll end up with a sustainable business you can call your own.
The stereotypical startup begins with young entrepreneurs fresh out of Harvard with a bright idea for a disruptive innovation, and ends when they go public after a few years’ rapid growth enabled by selling off big chunks to investors. But there is another...
In times of economic uncertainty, collaboration with startups offers corporates a route to becoming more innovative and profitable.
As Britain gears up for Brexit, the country is bracing itself for a period of uncertainty. It is in times like these that business growth can be hard to come by. But larger companies can boost innovation and their bottom line by partnering with nimble, fast...
Does your backup plan have your back, or is it holding you back?
“Get rid of your safety net,” says Stephanie Vozza in an article written for Fast Company, in which Vozza proposes that having a backup plan might not always be good for business.
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Fixating on just one talent risks missing out on what really makes entrepreneurs successful.
Don’t let “Holy Grail syndrome” hold you back. Instead, focus on your unique mix of talents, passions and skills that provide the foundations for a business in which only you can excel.
Here’s how to combine your skills and interests into a unique entrepreneurial vision.
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The best way to grow a B2B business is to handpick your ideal customers and call them up, writes Aman Naimat for Entrepreneur.com.
Don’t wait for customers to come and find you online because “in today’s noisy, overcrowded marketplace, you can’t hope to be discovered”, the author warns.
PINPOINTING
Becoming the authority in your field is a great way to grow your business, says Brian Horn, writing for Entrepreneur.com.
The author outlines seven easy ways to become your industry’s next expert:
1) Educate. Offer your customers free and valuable information, via blog posts, seminars and newsletters.
AUTHORITY
Have you got what it takes to be a successful entrepreneur? Drew Hendricks, writing for Inc.com, gives the lowdown on ten habits you need if you are going to make it big.
1) They work tirelessly. Successful entrepreneurs make things happen because they are action-oriented and work tirelessly to succeed.
For some entrepreneurs, things seem to fall into place on their rise to financial success, observes Jayson Demers, writing for Entrepreneur.com.
However, in spite of appearances, their success is not down to luck but rather an understanding of the importance of learning, adapting and growing, says the author.
Competitive advantage is shifting, say Thomas N. Hubbard, Paul Leinwand and Cesare Mainardi, writing for Strategy+Business. The new industry leaders are leaner and more focused than their predecessors. They are the “supercompetitors”.
Weak markets are not a valid excuse for a company’s slow growth, write Kasturi Rangan and Evan Hirsh for Strategy+Business. With the right market proposition, you can achieve success, no matter what state your industry is in.
Think you want to be an entrepreneur? Lolly Daskal, writing for Inc.com, reveals what it’s really like to go it alone.
Daskal reveals eight facts about entrepreneurship that you really need to know:
1) You might fail. Almost 90% of startups fail within a few years. You might dream of being the next Amazon.com, but your chances are slim.
You have a good career that pays well, but you want to strike out on your own. Should you quit your day job to pursue your dream? Well, not just yet, advise Lolly Daskal, Leo Widrich and Elizabeth Gore, writing for Fast Company.
All entrepreneurs make at least one expensive mistake when setting up a new business, says Lorie A. Parch writing for Entrepreneur.com. It’s “the Murphy’s Law of startups”, she explains.
But some mistakes are so costly they can sink a cash-strapped new company. The author talks to entrepreneurs and experts about the most common startup errors.
Are you a tech-entrepreneur preparing for a launch? You might be eager to get your product off the ground, but Brandon Watts, writing for Entrepreneur.com, believes it’s important to slow down, take a deep breath and make sure you’re really ready to launch.
