Crises make evident the need to have solid business models with pinpointed solutions as the foundation of a startup. Much is being written these days about how crises periods offer great opportunities. However, following previous traumatic periods such as the dot.com burst and the ‘08-’09 financial crash the companies who survived, and later thrived, were laser-focused on their value proposition. For each one that we know about for having succeeded, many, many more did not make it. Think about Airbnb; but how many remember Housetrip or Wimdu?(more…)
In 2002, Joan Magretta published a fascinating article in the Harvard Business Review (HBR) titled “Why Business Models Matter.”
For years prior, the talk of “business models” was considered sheer poppycock by people in the tech world, but 2002 was right when the internet bubble burst. Investors were keen to stay away from anything and everything that had to do with tech. It was time to discuss business models.
Magretta made an excellent observation; it was that “good business models begin with the insight into human motivations” – basically a foundational element of what we today call human-centered design.(more…)
Despite the mental toll, cabin feverishness, and all the other problems that come with the Quarantine, the Pandemic has presented a unique opportunity to skill up and start your own business. While many of us are stuck at home with nothing to do except watch TV, read books, or vegetate, think of this as an opportunity to start a new business and secure some income for yourself and the future. Here are 5 Ideas to Help You Start a Business in the COVID Quarantine.
First thing’s first: Skill up.
Many of you have been meaning to start a business. Let this social isolation be the sign to get up and start going. Use this time to get your licensing, insurance, and research done so by the time all of this chaos is over you can hit the ground running with your new enterprise.(more…)
As the world shifts towards working from home and our governments mount responses to the SARS-CoV-2 (Coronavirus) pandemic, we may feel that our fundamental way of life is being uprooted. Now more than ever, we must be malleable and adjust to what people are calling this new reality. Still, it’s inherently essential also to look inward and see how the skills we’ve acquired can become attributed to today’s world, and applied to identify opportunities that can and will grow in post COVID world.(more…)
Competitive Intelligence? What’s competitive intelligence? According to Wikipedia, “Competitive intelligence (CI) is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors and any aspect of the environment needed to support executives and managers in making strategic decisions for an organization.“
For the day to day, it means understanding what your competitors, direct and indirect are doing, how big their war chest is, whom they’re hiring, and then trying to figure out how you can outcompete them based on your realities. Competitive intelligence is an ongoing process. It is about accumulating relevant knowledge that your entire executive team can implement into the overall company strategy.(more…)
Understanding machine learning today can seem daunting, and technology seems to be advancing at ever-increasing speeds. So what is machine learning? Well, it used to be that you had to program a computer to do certain things. However, due to the advances in digitization and cheap computing power, data scientists can feed computers large amounts of data and enable them to learn from the experience.
From Amazon’s product recommendations and Facebook’s ability to spot faces to Google’s self-driving car, more and more companies are turning to machine learning to improve processes and create new, better ways of doing business.(more…)