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If you're considering investing your money or energy in any new opportunities, here are a few questions to ask yourself before jumping in
Imagine these questions are traffic lights. How many are shining green to you right now? Remember: On any dashboard, a red light indicates caution!
1. What is the size of the opportunity?
3. What is the pain point this product addresses?
4. What are the capital requirements?
5. What kind of profit margins does this sector enjoy?
6. What are the three most difficult problems expected in establishing this business?
7. How well do they align with the founders’ skills and resources?
8. Is this business easily scalable?
9. Does this solution offer opportunities for spin-off products and services?
10. Are there positive social values attached to this product or service?
11. Do you (and any other founders) enjoy doing this work?
Peter Hoeve's insight:
A very useful shortlist. Let everybody answer these questions before embarking on an enterpreneurial saga ..
2013 wordt volgens het trendwatchersduo Richard en Lieke Lamb het jaar van de balansburger.
"We gaan naar een balanseconomie. Eerst zei niet iedereen last van de recessie te hebben, maar nu is deze toch wel alom aanwezig. Mensen accepteren het nu, in plaats van te ontkennen of zich er tegen te verzetten, en passen zich aan."
Daar horen een aantal trends bij, volgens 'de Lamb-jes'. Lees hier wat u te wachten staat, in ieder geval tot 2020, wanneer de huidige economische overgang volgens hen ongeveer afgerond zal zijn.
Peter Hoeve's insight:
Dit zijn de 10 trends uit het artikel:
1. menselijke maat;
4. slow food;
5. media migratie;
6. flex gadgets;
7. financiële creativiteit;
9. nieuwe business modellen;
10. trendy technologie.
Where did the idea that startups write business plans come from? In the early days of venture capital, investors and entrepreneurs were familiar with the format of business plans from large companies and adopted it for startups. Without much thought it has been used ever since.
A business plan is the execution document that existing companies write when planning product-line extensions where customer, market and product features are known. The plan is an operating document describes the execution strategy for addressing these “knowns.”
A startup is notabout executing a series of knowns. Most startups are facing a series of unknowns – unknown customer segments, unknown customer needs, unknown product feature set, etc.That means that writing a static business plan first adds no value to starting a company, as the plan does not represent the iterative nature of the search for the model.
Bio & Books: http://blogs.wsj.com/accelerators/steve-blank/ .
Free & Near Free Tips: http://steveblank.com/2012/11/27/open-source-entrepreneurship/ .
A powerful global conversation has begun. Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. As a direct result, markets are getting smarter—and getting smarter faster than most companies.
If you never took the opportunity to read these almost 14 year old 95 theses, it is about time. They more or less regulate the entire Internet and give you the directions you need to change your: business model, branding, marketing approach, customer orientation, community building, sense of humor, and humility.
Bonus 1 - The 95 Theses: http://www.cluetrain.com/cluetrain.pdf
Bonus 2 - Complete book: http://bit.ly/RNYJaR .
Bonus 3 - Complete download: http://bit.ly/Tb66dC .
This amazing study analyzes the increasing dominance of electronic media in the American media diet and a growing discrepancy between supply and demand in the digital cornucopia.
Take the ratio of supply to demand in 1960. It is 82, that is, the number of media minutes available in the typical American household in 1960 divided by number of minutes of actual consumption. This represents the fundamental metric of choice—a human-scale choice.
But the ratio of supply to demand in 2005 presents a very different metric. The ratio is 884:1, approaching a thousand minutes of mediated content available for every minute available for consumption. In our view that is not a human-scale cognitive challenge.
For help in sorting it out, humans inevitably turn to the increasingly intelligent digital technologies that created the abundance in the first place.
Bonus: Rechtstreekse link: http://ijoc.org/ojs/index.php/ijoc/article/viewFile/1369/745 .
To reach Coca-Cola's strategic goal for the year 2020, Coca-Cola is relying on content marketing and brand stories. These videos lay out the strategy.
Coca-Cola’s marketing mission statement is Content 2020, a content marketing brainchild of Coca-Cola’s Jonathan Mildenhall, VP Global Advertising Strategy and Creative Excellence, who recently stated that:“All advertisers need a lot more content so that they can keep the engagement with consumers fresh and relevant, because of the 24/7 connectivity. If you’re going to be successful around the world, you have to have fat and fertile ideas at the core.”
Like Joe, I spent quite some time reviewing the two videos below, and I encourage all C-level entrepreneurs, intra-preneurs and marketing professionals (both client and agency side) to set aside at least 20 minutes to review these two short videos (video one is seven minutes, video two is 10 minutes). It’s that important!
This importance is NOT limited to marketing purposes only, Content 2020 is equally important to Rethink the total Business Model of every company, small and big ...
Bonus 1: Coca-Cola Content 2020 Part 1: http://bit.ly/nJK2IV .
Bonus 2: Coca-Cola Content 2020 Part 2: http://bit.ly/HjWut5 .
Nowadays, every Entrpreneur has to engage in Content Marketing. Whether you are a content marketing newbie or someone with more experience, you’re bound to have Questions. Here are the Answers to 50 common ones, the FAQ's. Save this valuable Curation for Future Reference ..
Shell heeft vandaag het lid flink op de neus gekregen. De President van de Rechtbank Amsterdam noemde in zijn vonnis over burgerlijke ongehoorzaamheid de protesten van Greenpeace van 14 september, waarbij bij 72 tankstations van de 600 tankstations werden stilgelegd met fietskettingen, proportioneel en dus rechtmatig. Ook geeft hij aan binnen welke grenzen toekomstige acties naar zijn oordeel eveneens rechtmatig zullen zijn.
‘Een bedrijf als Shell, dat activiteiten verricht of wil gaan verrichten die in de maatschappij omstreden zijn en waar velen zich tegen verzetten, kan en moet verwachten dat acties zullen worden gevoerd om haar op andere gedachten te brengen. Dergelijke acties zullen – om effectief te zijn – Shell ook nadeel kunnen toebrengen’, aldus de rechter.
Redactie: De tijden voor Bezettingen en een Boycot van Shell lijken daarmee in Nederland teruggekeerd. Deze rechterlijke uitspraak laat zien dat de C-levels van grote bedrijven nu echt naar eindgebruikers en andere belanghebbenden moeten gaan luisteren. Maatschappelijk Verantwoord Ondernemen (MVO) en Customer Care (CC) zijn nog zeer nieuw en onbekend voor Shell. Wellicht helpt een maandje boycot ze anders over hun verantwoordelijkheid voor de Noordpool en Nigeria na te denken.
A Social Business is like a city. Build yours one neighbourhood at a time. Social business design – adopting the use of social technology, flattening corporate structure and shifting towards less siloed operational models – helps organizations achieve business objectives as the marketplace becomes more digitally connected.
Social business draws on trends in technology, work, and society. Companies should care about social business because they can improve business outcomes. The core principles touch on all areas of a business, whether for business-to-customer engagement, employee-to-employee collaboration, or supply chain optimization. Making social business work requires focus on a company’s culture, connections, content exchanges, and measurement and analytics.
A post recently published by Dave Gray really helps crystallize the idea of social business design. In The Connected Company Gray uses a series of “city” metaphors to clearly explain how a social business is a “complex, adaptive system.” His post inspired the following information design. My goal here is to present a visual interpretation of these ideas aimed at building high level understanding and prompting discussion.
Bonus Information: The Connected Company about the City Metaphor - http://www.davegrayinfo.com/2012/08/26/the-connected-company/ .
Richard Branson founded Virgin in 1970 at the age of 20, and he hasn’t looked back. He’s the only entrepreneur to have built eight separate billion-dollar companies in eight different industries — and he did it all without a degree in business. We’ve compiled 19 of the best tips from his new book — 'Like a Virgin: Secrets They Won’t Teach You at Business School': http://amzn.to/S4xLsm
1. Don't do it if you don't enjoy it;
2. Be visible;
3. Choose your name wisely;
4. You can't run a business without taking risks;
5. The first impression is everything. So is the second;
6. Perfection is unattainable;
7. The customer is always right, most of the time;
8. Define your brand;
9. Explore uncharted territory;
10. Beware the "us vs. them" environment;
11. Build a corporate comfort zone.
12. Not everyone is suited to be CEO;
13. Seek a second opinion. Seek a third;
14. Cut ties without burning bridges;
15. Pick up the phone;
16. Change shouldn't be feared, but it should be managed;
17. When it comes to making mistakes, bounce back, don’t fall down;
18. Be a leader, not a boss.
In teir new book, “Outside In: The Power of Putting Your Customers at the Center of Your Business”, Harley Manning & Kerry Bodine, both VP's at Forrester Research, explain the most basic errors that organisations make, and how you can address them.
The book provides strong evidence of the impact of customer service in dollars and cents terms. In the book they compare total returns from a portfolio of customer experience leaders identified from their Customer Experience Index study, versus a portfolio of customer experience laggards over a five year period to demonstrate stunning findings.
Manning & Bodine say that the conclusion is simple: it is unlikely that anything else you do as a company has more of an impact on getting new business. The authors demonstrate a connection between financial performance and customer experience, and also conclude that customer experience is one of the most misunderstood elements of corporate strategy. Three of the most fundamental errors that organisations make when it comes to customer experience:
1. Businesses don’t define ‘customer experience’;
2. Businesses do not treat the customer experience as a business discipline;
3. Businesses assume customer experience is a frontline issue.
Bonus Information 1: Short video about the book: http://outsidein.forrester.com/ .
Bonus Information 2: Picture of the Customer Experience Ecosystem: http://outsidein.forrester.com/book.html .
The McKinsey Global Institute (MGI) estimates a trillion dollar value (10E12) in using social tools to enhance communications, knowledge sharing, and collaboration within and across enterprises. MGI’s estimates suggest that by fully implementing social technologies, companies have an opportunity to raise the productivity of interaction workers—high-skill knowledge workers, including managers and professionals—by 20 to 25 percent.
In this report, 'The social economy: Unlocking value and productivity through social technologies', they explore their potential economic impact by examining their current usage and evolving application in four commercial sectors.
To reap the full benefit of social technologies, organizations must transform their structures, processes, and cultures: they will need to become more open and nonhierarchical and to create a culture of trust. Ultimately, the power of social technologies hinges on the full and enthusiastic participation of employees who are not afraid to share their thoughts and trust that their contributions will be respected. Creating these conditions will be far more challenging than implementing the technologies themselves.
Bonus Information 1: Full PDF Report: http://bit.ly/OOUbfI .
Bonus Information 2: Executive PDF Summary: http://bit.ly/MHJOQs .
Bonus Information 3: Video Interview with Michael Chui of McKinsey: http://bit.ly/O0wEwF .
assive open online courses—dubbed MOOCs—have lured venture investors and universities, who have put millions of dollars into companies that partner with schools or instructors to offer free courses.
MOOC providers are still figuring out how to keep basic course access free while generating revenue.
"Nobody has any idea how it's going to work," says Dave Cormier, manager of Web communications and innovation at the University of Prince Edward Island, who was involved in earlier iterations of MOOCs. "People have ideas of how to monetize it, but simply don't have any evidence."
Peter Hoeve's insight:
First you Develop a Product .. Then you find a Market .. And Finally you think of a Way to make Money out of it .. Splendid!
The customer has always been king, but social media -- Facebook, Twitter, chat, blogs and email -- have profoundly affected customer expectations, changing customer relations, and giving them more power and influence in ways we never imagined even a decade ago.
Companies of all stripes need to change their thinking, reassess their strategies and adopt new tools. Or risk alienating customers, and as a consequence, lose market share. How have the ground rules changed, and what should companies do to manage relationships and retain customers in the social world?
Bonus - page 2 for the Solutions: http://bit.ly/V5u4qm .
Each business knows how important to manage your sales leads using Customer Relationship Management (CRM).
There are so many CRM software systems to choose from but if you own a small business or if you are self-employed, it is an excellent idea to use free open source CRM or web based solutions.
Free CRM software systems allow you to automate your lead list, sales pipeline and even your inventory. These are a list of 5 websites (with Reviews & Links, PH) that offer free open source CRM and web-based CRM solutions:
- FreeCRM - http://www.freecrm.com/index.html
- SaasLight - http://www.saaslight.com/
- Vtiger - https://www.vtiger.com/crm/
- SugarCRM - http://www.sugarcrm.com/download .
Door hyperconsumptie, moordende concurrentie en 'creative destruction', en dat alles wereldwijd, duiken er zoveel consumententrends op dat de gemiddelde professional soms het overzicht kwijt raakt. Daarom hebben we deze maand een selectie voor je gemaakt van ‘kleinere’ consumenten- en businesstrends die je echt niet mag missen.
De 12 Trends:
1. Tech Domestics;
3. One touch Wonder;
5. Branded Government;
6. Nanny Apps & 24/7 Feedback;
7. Juice Jitters;
8. Safety Net;
11. Real World Liking;
12. Artificial Scarcity.
• Around two-thirds of office workers work flexibly at least on occasion;
• 56% of flexible workers believe they work more productively away from the office, and 48% say this is because they can fit their work around personal commitments;
• Just 19% of employees find their already over-stretched IT team “very helpful” in providing technology support for flexible working;
• This could be a reason why 43% of all office workers and one-third of those working for a large enterprise use either a personal laptop or mobile device for email access.
The media landscape is a very different beast today than it was even 5 years ago. Then agency-led television commercials dominated how we channel our marketing. The very fact you are reading this here proves that things have changed.
Coca-Cola have always been at the forefront of innovation. In this video Jonathan @Mildenhall, Vice-President, Global Advertising Strategy and Creative Excellence at The Coca-Cola Company is the person responsible for leading Global Creative Vision and strategy for the Company's portfolio of global brands.
In this video @Mildenhall explains how Coke will leverage the opportunities in the new media landscape and transform one-way storytelling into dynamic storytelling hoping to add value and significance to peoples lives. He describes the challenge of content creation in an enlightening way, reminding us that "every contact point with a customer should tell an emotional story".
Cristina @Bondolowski (41), Coca-Cola’s Vice President Global Brands, is responsible for the execution of this new attractive and innovative roadmap.
Bonus 1: Bondolowski explaining How: http://bit.ly/P5lHMX .
Bonus 2: Coca-Cola Content 2020 Part 1: http://bit.ly/nJK2IV .
Bonus 3: Coca-Cola Content 2020 Part 2: http://bit.ly/HjWut5 .
One of the things that can help most with content marketing is templates – those Step-by-Step guides that walk you through 'How-to-Do' something. Michelle Linn found 10 contributors sharing their expertise and documents. Here is a list of 10 templates with everything that every content marketer can use.
Three momentous forces — technological, social, and economic — have conspired to rock the business world and caused things to become more complex and uncertain. The symptoms of which are manifested in concerns such as:
- The business making only a fraction of its profit potential;
- Things not being broken, but not feeling right either;
- Making the numbers because the old ‘go to’ methods have fallen flat.
It is a fundamental change in how ventures will survive … or be castoff. The impact of this change has permanently burned two concerns into the back of business leaders minds:
- ‘What game should we play?’ (what’s the business model);
- ‘How do we win?’ (what’s the pivot).
Having discussed this point with numerous individuals the most common question I get asked is:
- 'How do I work my way through this problem?'
Let's address HOW you can get unstuck and blow past your expectations. It’s about careful reflection and calculation; here are the 7 elements that make sure you do that.
- Get liberated;
- Undergo discovery;
- Develop then design;
- Get out of the building;
- Rinse & Repeat.
Bonus Information: Part 2: http://www.donaldmcmichael.com/business-models-part2.htm .
Businesses looking to gain advantage will need to clearly define how they will innovate, implement, manage and monitor the application of digital solutions throughout the organization—a significant change from working on separate solutions in various parts of the business.
Continuously harvesting quick wins while keeping an eye on the framework you’re building for the midterm and for the long term is challenging, to be sure. But it will prove important for consumer-facing businesses wishing to stay at the forefront of the digital revolution. And, no matter what business you’re in, managing multiple platforms, negotiating with numerous vendors and dealing with compatibility issues will consume time, money and energy.
It is impossible to design the perfect end state at the outset. Indeed, planning a companywide transformation and locking in decisions such as platforms, software and providers in advance is a mistake. Learning through iteration will yield better returns than orchestrating a huge and complex transformation, relevant only for a short time.
Given the speed of innovation and technology change, the principle to adopt is being fast to failure. Begin by identifying appropriate pilots and applying proof-of-concept techniques to test different options. This concept of continuous beta versions is what helps digital companies learn quickly and remain agile, and it can do the same for analog organizations that wish to digitize.
Bonus Information 1: Full Article (Analog to Digital) in PDF: http://bit.ly/Rp8ywu .
Bonus Information 2: Full Vison 2012 Report (Accenture Technology) in PDF: http://bit.ly/zpNSZ9 .
Could the growing acceptance of the Samwer brothers be due to the fact that people in the tech industry are finally admitting in public that imitation is good business? We decided to find out. We called up Oded Shenkar, the man who wrote the book on the business of clones: Copycats: How Smart Companies Use Imitation to Gain a Strategic Edge.
“We have this reverence for innovation, but imitation is often the key to success," Shenkar explained. "Imitation was critical to human evolution, and today imitation is more critical than ever - because it’s much cheaper and more feasible than previously.
When imitators execute well, they usually succeed better than the first movers, because they study the errors of the innovators and learn from them, as Facebook learned from the mistakes of MySpace.
As with most things in life, there are a variety of ways you can slice and dice what defines “good user design” but here are 5 principles of good User Experience Design:
1. Purpose – Good design serves a number of purposes;
2. Understanding – While it is very important to understand what your clients are looking for, to create a meaningful and successful application it is paramount to understand the user;
3. Efficiency – The primary goal of experience design is to make things efficient for the user before making them efficient for the computer;
4. Empathy – Unfortunately, companies often overstate their relevance to the lives consumers which can generate cynicism and undermine trust;
5. Simple & Intuitive – Yes, these are two separate concepts but they are so closely linked that it makes sense to talk about them as one.
In this animated video Dr. Susan Weinschenk demonstrates how user centered design results in significant return on investment (ROI). User eXperience (UX) is the science and art of designing a product like a website or a software application so that it's easy to use. So that it fits the expectation that the user has for it, and so that it meets business goals.
There's a whole methodology around designing a user experience, and sometimes people ask me is it worth it to do all that work to design a user experience? Weinschenk tells about the return on investment (ROI) of doing user experience work.
IEEE is a professional organization that puts out reports and does research for programmers, developers, and engineers, and they put out an article called "Why Software Fails".
Here's some interesting data from that article.
Bonus Information 1: The original IEEE article 'Why Software Fails': http://spectrum.ieee.org/computing/software/why-software-fails .
Bonus Information 2: Download the Infograph (PDF) of the ROI of UX featured in this video: http://www.humanfactors.com/ROIposter.asp .
Bonus Information 3: An even better documented article on 'Why Software Projects tend to Fail': http://www.codeproject.com/Articles/20488/Why-Software-Projects-Tend-to-Fail .
Bonus Information 4: Even more information about how programmers look at this all: http://www.codinghorror.com/blog/2006/05/the-long-dismal-history-of-software-project-failure.html .