January 2010
12 posts
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Don't get carried away by technology
As young entrepreneurs - especially those of us with technology or engineering backgrounds - we tend to get carried away with the technology that is running the business rather than creating a business that continues to meet the customers need. This became apparent to me as I was discussing some venture ideas with an old friend of mine. I caught myself talking on and on about the technology that...
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Business planning made easier?
If you are like me - you have quite a few business ideas that you plan on launching but you are frightened by the thought of writing out a business plan. Even though you do not mind doing market and industry research, you find yourself suffering from information overload and the hundreds of thoughts that go through your mind as you read about what other businesses in the industry are doing. This...
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Smart-phone application market research
Please click here to take a quick survey on the smart-phone industry.
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Pay attention to those Threats!
Take a look at most failed start-ups, what do they all have in common? Some might say poor management and others, poor delivery. However, I am with the camp that many start-ups fail because the founders did not pay enough attention to the threats towards the business idea.
Depending on who you surround yourself with, you are likely to get a lot of yes-men (and women) who will build you up and...
“…knowledge workers believe they are paid to be effective, not to work 9 to 5.”
– Eric Schmidt, Chairman/CEO - Google Inc.
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What kind of innovation are you thinking of?
Last night, I was part of an interesting discussion. A discussion based on innovation within any industry. Clayton Christensen in his book - The Innovator’s Dilemma - introduces two scenarios that can happen when it comes to innovation - innovation through sustaining technologies and innovation through disruptive technologies.
Sustaining Technologies
Innovations through sustaining...
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Does getting a MBA make you a better entrepreneur?
This is one of those questions that I have heard asked in so many different ways by all sorts of people. I think the phrase “…getting a MBA…” is the catch all phrase for education, training, and mentoring as it relates to entrepreneurship. My answer to this question is contingent on the understanding that when people refer to getting a MBA, they are including the formal...
The failure rate is so high because ...
According to the U.S. Small Business Administration (SBA), a third of all start-up fail within the first two years, and almost 60% are doomed to fail by their fourth year. These numbers probably are not a shock to you as the failure rate of new businesses is widely publicized. I think, to intimidate first time entrepreneurs.
Anyway, why is the failure rate so high?
I know! There are too many...
The biggest risk to your start-up is ... YOU!
I was reading this article on Forbes magazine - How Entrepreneurs Identify New Opportunities - and the guest on the article [Raffi Amit] brought the following to my attention.
While there are many risks for any new business ventures the biggest sources of risk are the founders. Do they have the wherewithal not just to start the company, but also grow the company?
So of course this got me...
“If your mind is always open, it never finishes anything. If it is always closed,...”
– Scott Berkun, Author - The Myths of Innovation.
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Goals for 2010
It’s January 1st, that means it’s time for age-old tradition of putting our goals for the year out there. I am not a fan of making new years resolutions so you will not be getting any of those from me. Every year I put up goals for my personal and professional life. I figure setting goals at the beginning of each period - in this case a year - gives me something to work toward and yes...