Get passionate about your business. But keep it real. What we mean by that is to combine the two. Most businesses from an apple orchard to providing Zumba classes began because of the passion of the founder for that idea. It’s that desire to use a specific a gift, or put passed down experience to work, that creates an enjoyable worklife, that finally supports the business owner, and provides jobs for others. That inner spark that nags you to start your business and keeps you excited is what we call passion. Remember that feeling, breathe it in, put up reminders in your office, in your car so you don’t forget it. [Read more…]
New Structural Paradigms for Business
How Can They Become Part of the Business Process?
There is a current article in the Wall Street Journal about how the “blue chips” are blue because of poor sales and earnings growth and little stock market appreciation. The article includes examples of industry and category leaders like Caterpillar, Proctor & Gamble, IBM, General Electric, AT&T, Coca-Cola, and DuPont.
I have been arguing for years that this should be no surprise, because society and business fail to recognize old paradigms and structures are failing: [Read more…]
It’s Not What but How in Starting a Business
Starting a business is a bit like dieting, playing golf, or managing one’s health. Thousands of experts make lots of money telling you what you need to be successful. While the majority of the advice is excellent, most people fail in the execution, which is what I mean by the how in starting a business. In essence, it is essential to understand it is not what but how in starting a business. Below is a simple example.
I know everything there is to know about losing weight but still love to eat so the knowledge is useless. In contrast, my wife is the same weight as decades ago and can even forget to eat. [Read more…]
Do You Have a Marketing Plan?
What is marketing? Is it advertising? Yes. Is it promotion? Yes. Something newsworthy? Yes. Public relations? Yes. Is marketing just about anything that gets your brand out there for the public to consume directly or subconsciously? Yes. At Startup Connection we recognize the unusual ability small agile firms have to successfully focus on and carry out successful “mini” marketing strategies. These strategies, help differentiate the new guys on the block from the competition. We constantly work to help startup firms create and take advantage of mini marketing opportunities. A simple example, a restaurant client who gives kids their own dough to make a small roll and then bakes it for them. [Read more…]
Do You Have a Plan to Make Money?
Of course, you have a plan to make money. That’s why you started a business. Actually, the question runs far deeper than that answer. You need a “pro forma income statement”. I know what you’re thinking,
“A pro forma income statement? Wow! Is it Christmas already?”
When running a new or existing business you always have to be thinking about money, particularly where is it coming from, whether it be from investors, profits, loans, or some combination. To be thinking and getting the money, you always have to be planning. There are often a number of red flags that frequently appear in business plans that tip off investors or users that you have not done your research, you are just guessing, or you are so enthusiastic about your idea you refuse to face reality. Some of the most common red flags include the following or similar terms: [Read more…]
Innovation Is Not Easy
Everyone talks about creating an environment that encourages innovation, change, openness, new ideas, etc. In many cases this enthusiasm for innovation, however, ignores a number of powerful practices:
“If it isn’t broke, don’t fix it!
Another is,
“We have always done it this way.“
We at Startup Connection believe in trying simple ideas and approaches that work to foster innovation: [Read more…]