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Collaborative Innovation Is Better For Business

Collaborative Innovation Is Better For Business | Entrepreneurship | Scoop.it
Bigger challenges mean working together more

Corporate innovation teams tend to have one of two backgrounds:

The first is well-established R&D teams that have been rebranded as innovation teams. These usually excel at science but struggle to create standalone products that succeed in the market.
The second is marketing-led innovation teams. They usually have an excellent track record of creating compelling propositions that excel the market, but they often struggle to make unique products with a clear technological differentiation.

Both teams create value in different ways, but they usually share a desire to control the innovation process from start to finish. They often have somewhat rigid processes and structures, in part because they have to defend their value in the larger organisation. Frequently they keep innovation sealed off from the rest of business, a defensive posturing that creates black box innovation processes. . .
Craig Stark's insight:
Our work with 3Open Labs focuses on Collaborative Innovation as an alterative path for startups and a more successful path for Corporate customers.
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Startup Professionals Musings: 10 Reasons Entrepreneurs Need To Market Themselves

Startup Professionals Musings: 10 Reasons Entrepreneurs Need To Market Themselves | Entrepreneurship | Scoop.it
50 Plus and planning a startup? You need to network!
Craig Stark's insight:
"Boomers trying to stay relevant" is a growing segment that requires a concerted effort to solve for.

More Boomers are looking at options outside of corporate domains and hence, opting to try a startup.

Your corporate network is increasingly filling with retirees and those in the "lost world" of no momentum.

Developing a success framework must include a self marketing and networking initiative. Taking this approach is much more effective than locking onto a new startup idea and pushing that first.

The former is aligned with Open Innovation, where you can quickly align your skills and interests with others ,without the hardened needs of a startup.

We are connecting with those 50+ to offer a platform for Open Innovation where Boomers can get into a track quickly.

Look for more information in this channel soon!
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Top 3 Tips To Cut Your Startup Expenses

Top 3 Tips To Cut Your Startup Expenses | Entrepreneurship | Scoop.it

 

Generally startups don't need anything near the costs most people allocate to them.

Ask yourself what the funding is for. Do you really need it?
Take the biggest expense and ask "why is it so high"?

You'll almost certainly find you can reduce it by 50%.
It isn't the largest any more.

Next week do the same exercise on what is now the largest.
In a few weeks you have your costs down to manageable levels.

So here are the list of top 3 tips that can help startups to cut their costs:

Rework the expenses. Calculate them again and ask yourself why are the expenses so high, rework them again and try working with your team if you can reduce them by a sizeable margin. Ask this question "Whether you really need that cost " Why Do you need that cost now ? As Peter Johnston says in the thread " You'll know by your pre-orders how many to make - indeed you'll probably have funded productionHire Human Capital When The Product Market Fit is Validated. Dont jump the gun in hiring human capital even if you have funds. Test the market, customers, TA even if you have funds in place and when the market is established get the critical manpower in place to get into the market.Outsource & Prioritize : Besides the critical functions focus on your core competence functions. If you are tech guy and and you need HR or legal support, get a cloud HR software to run your system or a legal attorney to create your legal formalities instead of hiring these manpower on rolls. Focus on building your MVP and going to the right customers and getting revenues asap.

 

 

 



Via Marc Kneepkens
Craig Stark's insight:

I agree 100%

 

Developing the MVP doesn't mean "build the app" and hire developers. Get a mock up and find out what it might cost if a customer were to sign up in the near future.

 

Don't hire a tech wizard, there are cloud based tools that can be utilized until scale or a specialized feature/ function requirement surfaces.

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Marc Kneepkens's curator insight, August 18, 2014 7:25 AM

That's how to do it. Don't think that the big money will create and fund your startup. Your product will eventually have to pay for all of the expenses.

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Algorithms as commodities-today's opportunity

The future of AI is being formed by today's business relationships as technologies seek applications.
Craig Stark's insight:
“In the future, algorithms will become a commodity. The real value of artificial intelligence will be in a federated connected environment.” — Dr. Dennis Curry
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Capitalizing on The Third Wave: A summary for Bootstrappers and Startups

Capitalizing on The Third Wave:  A summary for Bootstrappers and Startups | Entrepreneurship | Scoop.it
Strategic Partnerships in the Third Wave
Craig Stark's insight:
Our latest Blog covers off the key success drivers for Startups and Bootstrappers to take advantage of "The Third Wave", as covered by Steve Case in his new book by the same name.
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11 Fundraising Ideas for Entrepreneurs Who Don't Want VC Money

11 Fundraising Ideas for Entrepreneurs Who Don't Want VC Money | Entrepreneurship | Scoop.it
11 entrepreneurs share their advice on fundraising without relying on venture capital.

Accepting cash in the form of VC funding is not the right choice for all entrepreneurs or business models. Although money is always tight, some startup founders decide that they want to go about fundraising a different way—one that doesn't involve giving away big pieces of the equity pie.

Eleven entrepreneurs from the Young Entrepreneur Council (YEC) offer some tips for raising money without relying on venture capital:

To read the full article, click on the image or title.

 

 

Get your Free Business Plan Template here: http://bit.ly/1aKy7km


 


Via Marc Kneepkens, Justin Jones
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Marc Kneepkens's curator insight, March 10, 2014 12:19 PM

Many good ideas and solutions you never thought of.

albert oaten's curator insight, June 19, 2014 3:19 PM

Scrappy alternative  #startup #seed #fundraising without venture capitalists