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5 Ways to Build a $100 Million Business [Infographic] | OpenView Labs

5 Ways to Build a $100 Million Business [Infographic] | OpenView Labs | Entrepreneurship | Scoop.it
Learn how to build and sustain a $100 million business with this handy infographic from the partners at Point Nine Capital.
Craig Stark's insight:
What customer segment are you hunting and do you know what the dynamics of each are?

Startups need to know understand the path to sustained growth- or not.
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How blockchain can change the future of IoT

How blockchain can change the future of IoT | Entrepreneurship | Scoop.it
The Internet of Things (IoT) is a fast-growing industry destined to transform homes, cities, farms, factories, and practically everything else by making them smart and more efficient. According to Gartner, by 2020, there will be more than 20 billion connected things across the globe, powering a market that will be worth north of $3 trillion.
Craig Stark's insight:
IoT and Blockchain are both disruptive technologies. Developing new market insights around them is innovation greenfield.

If you are new to both, stay tuned as our new IoT Business Innovation Lab is coming along for January!
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Why do SaaS Companies Still Charge by the User? | OpenView Labs

Why do SaaS Companies Still Charge by the User? | OpenView Labs | Entrepreneurship | Scoop.it
Are you pricing your SaaS product on a per user basis? It might be time to reconsider. Determine the right value metric for your company here.
Craig Stark's insight:
Thinking of per user pricing for your startup business model?

This relic from the 90's will kill adoption and growth.
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Venture 40+: Mature Entrepreneurship

Venture 40+: Mature Entrepreneurship | Entrepreneurship | Scoop.it
Craig Stark's insight:
Anyone over 40 and thinking of Entrepreneurship as a next career option? If you are in the GTA West Area (Toronto) and free Nov 3, come out and tell us your story.
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10 Key IP Strategy for Innovative Companies to Maximize Business Value – Innovation Excellence

10 Key IP Strategy for Innovative Companies to Maximize Business Value – Innovation Excellence | Entrepreneurship | Scoop.it
The Innovation Excellence community is home to innovation articles, webinars, videos, training and education - powering successful growth in the innovation management profession.
Craig Stark's insight:
Great article on understanding the role of protecting IP and maximizing business value. Protecting a product without a strategy solves nothing.

Hiring an IP lawyer as an "event of process/ IP tactics" will net you an expensive patent that may not have any value to customers or your business.

Your product's technical merits need to map to higher customer value in terms of innovation. This has to be integral to business strategy.

Startups continue to lead with the rote steps approach, since the typical treatise on pitching venture rounds includes a "mandatory patent". This window dressing or tick box approach is what many look to complete for due diligence proceedings.
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Q: What Lessons Should I Draw From A Painful Cofounder Experience?

Q: What Lessons Should I Draw From A Painful Cofounder Experience? | Entrepreneurship | Scoop.it

Painful cofounder experiences are more common than happy ones, especially when the parties didn't know each other well at the start or the startup fails.

Craig Stark's insight:
Some great insights regarding selecting and working with a co-founder.
The inclination is to work with someone that shows initial interest and immediate commitment to the project. All of the reality checks get lost in this enthusiasm.

When money hits the table, people get stupid. Having a realistic set of expectations and agreements in place is mandatory.

Like marriages, money can be the number one root of problems in the early stages and at the dissolution point.
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5 Steps To Maximizing Your Startup Cash Flow Runway

5 Steps To Maximizing Your Startup Cash Flow Runway | Entrepreneurship | Scoop.it
Cash flow is a basic survival metric for every startup. Investors check your burn rate to assess your efficiency, and project you
Craig Stark's insight:
Bootstrappers should heed these ratios and divide according to your credit line and available items to sell ;-)
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Corporates: Is It Time To Hook Up with a Startup?

Corporates: Is It Time To Hook Up with a Startup? | Entrepreneurship | Scoop.it
There Is Plenty Of Innovation In The Startup Space, Time to Leverage It If you've read the news over the last few weeks, you've probably seen the article on Walmart
Craig Stark's insight:
Unicorns are being born of "mice and elephants". The cozy bedfellows of corporates working with large services firms are shifting to venturing with startups for sustained value.

The confluence of partnerships, sharing IP and targeting similar customers with value is proving to be a successful formula.

As a startup, have you considered approaching a large corporation? Before sweating out a rigorous business plan, you must consider these opportunities.

Love it. Live it.
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Humans Need Not Apply

Discuss this video: http://www.reddit.com/r/CGPGrey/comments/2dfh5v/humans_need_not_apply/ http://www.CGPGrey.com/ https://twitter.com/cgpgrey ## Robots
Craig Stark's insight:
Not long before we are reporting to Bots. Chart your own path now while you still can!

Very interesting video- about 15 mins but worth the time to see where we are and what is coming fast.
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Get Your Business To The Next Level With Partnerships

Get Your Business To The Next Level With Partnerships | Entrepreneurship | Scoop.it
But there are big-time risks to consider.
Craig Stark's insight:
Totally agree with this article!
There is a method and protocol to approach partners, especially if you are crossing borders.

My experience has been that US companies are more approachable and will seriously consider partnerships faster than Canadian companies.(from Canada)

We have developed a simple MOU matrix that makes it easy to get to the obvious "what we do/ what you get" and vice versa so that respective VP's of Sales and Marketing can move forward quicker.

If the BD or Channel guys are driving partnerships, then they have their own application process. This can get muddled in interpretation with long intake forms and time burn, which serves no one.

The larger companies are now forming "Venture" groups. They may be a bit easier to approach, but they are clearly looking for GTM ready products vs. startup pitches.

It's easy to court a large company for 6 months or more and then just get completely stonewalled. As executives in large companies, they have steady paychecks and no downside if the discussions stop for any reason. The are not sympathetic to your bootstrapper status.

As a startup, look to collaborate with people who can help get past gatekeepers and inbound marketing types and get to the VP's who can look at IP in a strategic or revenue growth model.

I search through Product Hunt and other communities to look for complimentary teams that may help others in our current interests make breakthrough connections.
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You Must Define This Term to De-Risk Innovation – Innovation Excellence

You Must Define This Term to De-Risk Innovation – Innovation Excellence | Entrepreneurship | Scoop.it
The Innovation Excellence community is home to innovation articles, webinars, videos, training and education - powering successful growth in the innovation management profession.
Craig Stark's insight:
The concept of "Return on Failure" likely doesn't exist in your organization. Learn more about de-risking innovation for your company archetype.

Be bold- but move with purpose.
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Lean Startup Tools - Product Hunt

Lean Startup Tools - Product Hunt | Entrepreneurship | Scoop.it
Tools to help you validate, build, and launch your startup ��. Discover 71 curated products like Good Email Copy and Startup Launch List about Lean Startup To...�
Craig Stark's insight:
A very extensive list of Startup launch tools as curated by Product Hunt.

Experiment and comment as to ones you like- I will publish a list based on results if anyone is interested.
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10 Keys To Open Leadership While Maintaining Control

10 Keys To Open Leadership While Maintaining Control | Entrepreneurship | Scoop.it
The pervasiveness of social networking and the Internet has caused a new focus and value on “openness,” which leads to a new element o
Craig Stark's insight:
Startups can develop effective culture while managing via Open Leadership. If you are going to be  digital disruptor, you need to be able to lead in a way that doesn't end in chaos.
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The 10 Business Models of Digital Disruption (and how to respond to them)

The 10 Business Models of Digital Disruption (and how to respond to them) | Entrepreneurship | Scoop.it
Disrupt or be disrupted. That’s today’s digital mantra. But how do you disrupt? Or how do you respond if you are being disrupted? Here are 10 business models behind digital disruption, …
Craig Stark's insight:
Before running down the product development rabbit hole, it's worth understanding where you will be placed into an active disruption landscape.

Betting on market insights or technology insights alone won't get you on the right path.

Start with Why and Love the Problem! Then apply the right Business Model to dominate.
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How Funding Works - Splitting The Equity With Investors - Infographic

How Funding Works - Splitting The Equity With Investors - Infographic | Entrepreneurship | Scoop.it
This infographic shows how funding works for a hypothetical startup splitting equity with angel investors, venture capitalists and IPO.
Craig Stark's insight:
Working with startups inevitably brings about the discussion and process of bringing in new people and in seeking funding.

This article and infographic helps demonstrate the timing and magnitude of these steps.

Like most decisions, any one out of sequence or in error can kill the odds of success.
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6 Ways To Create Experiences That Customers Crave

6 Ways To Create Experiences That Customers Crave | Entrepreneurship | Scoop.it
For decades, efforts to satisfy customers have been built around demographics – capitalizing on race, ethnicity, gender, income, and othe
Craig Stark's insight:
For startups, CX should be baked into the core of the business model from the get go.

If you approach the market as a product driven company, you will likely try to deliver Product Market Fit to suit the product first and customer delight second.

In terms of opportunity definition, start with current friction in customer services you can analyze and map out new efficiencies for.

There may be platforms or existing tools which can be utilized to prove out your new value proposition, so don't start with software engineers to start building first!

Remember to "Love the Problem, not Your Solution"
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How To Connect People To Drive Innovation – Innovation Excellence

How To Connect People To Drive Innovation – Innovation Excellence | Entrepreneurship | Scoop.it
The Innovation Excellence community is home to innovation articles, webinars, videos, training and education - powering successful growth in the innovation management profession.
Craig Stark's insight:
As a startup founder or entrepreneur, you have to "be where the puck will be" to be in the value creation/ capture sweet spot of business relevance.

Helping businesses transverse this process is something you have to take in stride, but you have to execute at the edge to win.

The Model proposed as "Bimodal people management" makes sense and seems inevitable as innovation is disrupting the value of traditional core process/ value management.

Understanding where you fit in certainly helps you frame your proposition. You still have to "love the problem" going in.

That means being capable of relating to both sides of the change process. If you come in with a solution to the wrong side of the equation (of the Bimodal instances) you aren't going to resonate with the right folks.

Showing how to get to "where the puck will be" should take precedence over your product features or your attempt at Product Market Fit.
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Screw Stealth Mode: Why You Should Tell Everyone Your Startup Idea | @DanMartell

Screw Stealth Mode: Why You Should Tell Everyone Your Startup Idea | @DanMartell | Entrepreneurship | Scoop.it
Want to see me get upset? Like… red in the face, I could deadlift a baby elephant with my rage alone, level upset? Here’s how to do it: Tell me your startu
Craig Stark's insight:
The risks of startup development in a vacuum are becoming more apparent in a fast moving, innovation lead marketplace.

The benefits of Collective Intelligence can't be emphasized enough. For startups, following a "proven path to market" is basically a death sentence.

Talking about ideas is encouraged and in an open innovation environment it's a given. Before developing MVP's and long tailed business plans for the pitch circuit, execute with the intent to actually benefit from collective intelligence.

Access potential IP mashups with corporate partners, find similar startups in the same basic space and collaborate with other entrepreneurs to provide a platform for success.
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3 Provocative Reasons Why Airpods Are A Huge Deal

3 Provocative Reasons Why Airpods Are A Huge Deal | Entrepreneurship | Scoop.it
You Think Apple Airpods Look Stupid? Join the Club.  I have to say, the first time I saw someone wearing these I thought to myself, boy, that looks dumb. Of course, I
Craig Stark's insight:
I like Chris' thinking on why Airpods are a huge deal.

As much as Apple would want you to be always connected to Siri and other evolving AI applications, I see things differently.(not different)

Firstly, I don't believe in closed systems or 80's proprietary development. I don't trust Apple to allow me access without paying ransom like fees in the downstream.

CX is heading towards customer owned data, not Apple owned data. Value to Apple stock is not value to me.

Carriers still want their piece of the profit growth. The "always on" mode sounds special to those in perpetual quandrum but not all can afford to be using data 24/7 yet.

The design of Airpods needs to be more like orthotics, where a customized option exists if one is to wear these all day (and night)  I tried the Apple ear buds that came with my iPod Nano which took 3 minutes to force into my ear and 2 seconds to fall out.

More importantly, any AI personal device needs to be completely tuned to me ( as per my data) and the interface programmable and secure. No single Big Brand will offer this, it will be a hybrid development.

I think the Bio interface will leap ahead with companies like Thalmic driving this trend.


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Startup Professionals Musings: 6 Value Priorities That Attract All Serious Investors

Startup Professionals Musings: 6 Value Priorities That Attract All Serious Investors | Entrepreneurship | Scoop.it
Craig Stark's insight:
Your value proposition must also translate to customer ROI based on limited funds and other client side realities.

Pitching technology based on it's "inherent merits" is a risky game for both parties.

Delivering a top level value based presentation takes more than some slick deck maneuvers or feature demos- it takes some serious homework.

Check out this framework to help get priorities straight and value at the center of your proposals. 
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Cross the Chasm Using the Market Development Model – Innovation Excellence

Cross the Chasm Using the Market Development Model – Innovation Excellence | Entrepreneurship | Scoop.it
The Innovation Excellence community is home to innovation articles, webinars, videos, training and education - powering successful growth in the innovation management profession.
Craig Stark's insight:
It is very useful to frame your product development in terms of market development rather than product life cycle.

Knowing what an MVP should be to 80% of the target market makes perfect sense. You can then map to the growth stages with more certainty.

In terms of Lean Startup, you can experiment and pivot with early customer development in synch with MVP development, thus saving precious time.
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How to prototype, and test your partnership, before launching it; Shopify-Uber

How to prototype, and test your partnership, before launching it; Shopify-Uber | Entrepreneurship | Scoop.it
Brennan Loh of Shopify, talks about designing the prototype for their partnership with Uber. https://youtu.be/ml01WbGlP0w?t=14m38s This is the way that many successful and innovative partnerships come to be. It's not about the big idea, and the big name involved, and then having all the rest fall in place. It's about performing experiments to find out…
Craig Stark's insight:
Further to my last post, here is a great overview of how to roadmap your approach to developing strategic partnerships.
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How the blockchain is changing money and business

How the blockchain is changing money and business | Entrepreneurship | Scoop.it
What is the blockchain? If you don't know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is here to help, demystifying this world-changing, trust-building technology which, he says, represents nothing less than the second generation of the internet and holds the potential to transform money, business, government and society.
Craig Stark's insight:
Don Tapscott's  recent TED Talk on the Blockchain revolution.
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Startup Professionals Musings: 7 Business Limits On That Million Dollar Invention

Startup Professionals Musings: 7 Business Limits On That Million Dollar Invention | Entrepreneurship | Scoop.it
Nobody wants to fund ideas. Understanding the business drivers before your start the grind will increase your chances of success.
Craig Stark's insight:
I particularly agree with Number 7;

"Truly disruptive technologies carry an extra burden. Investors realize that big changes in technology usually take a long time, several false starts, and more money than expected to commercialize. They, and most customers, really are quicker to adopt evolutionary rather than revolutionary products. Early adopters are not a big market."

Helping companies develop a product roadmap that encourages a plan to be evolutionary should be built into your strategy.

Partnering with complimentary services providers may make this process more efficient while reaching many new customers at the same time.

Partners may also see the value in funding a complimentary value added strategy. Frame it in terms of customer value.

Customer retention, customer experience or new customer lifetime value-these are all investable to most companies in a time of disruption and high competition.
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