Studenti che gestiscono milioni di dollari, scienziati visionari e finanzieri coraggiosi, in due parole: Venture Capital. Un viaggio nel mondo del capitale di rischio, in quella Silicon valley dove i milioni sposano le idee e creano il futuro.
Video
Friday, 18 September 2009
Tuesday, 15 September 2009
Gandhi’s Top 10 Fundamentals for Changing the World
1. Change yourself.
“You must be the change you want to see in the world.”
“As human beings, our greatness lies not so much in being able to remake the world - that is the myth of the atomic age - as in being able to remake ourselves.”
If you change yourself you will change your world. If you change how you think then you will change how you feel and what actions you take. And so the world around you will change. Not only because you are now viewing your environment through new lenses of thoughts and emotions but also because the change within can allow you to take action in ways you wouldn’t have – or maybe even have thought about – while stuck in your old thought patterns.
And the problem with changing your outer world without changing yourself is that you will still be you when you reach that change you have strived for. You will still have your flaws, anger, negativity, self-sabotaging tendencies etc. intact.
And so in this new situation you will still not find what you hoped for since your mind is still seeping with that negative stuff. And if you get more without having some insight into and distance from your ego it may grow more powerful. Since your ego loves to divide things, to find enemies and to create separation it may start to try to create even more problems and conflicts in your life and world.
2. You are in control.
“Nobody can hurt me without my permission.”
What you feel and how you react to something is always up to you. There may be a “normal” or a common way to react to different things. But that’s mostly just all it is.
You can choose your own thoughts, reactions and emotions to pretty much everything. You don’t have to freak out, overreact of even react in a negative way. Perhaps not every time or instantly. Sometimes a knee-jerk reaction just goes off. Or an old thought habit kicks in.
And as you realize that no-one outside of yourself can actually control how you feel you can start to incorporate this thinking into your daily life and develop it as a thought habit. A habit that you can grow stronger and stronger over time. Doing this makes life a whole lot easier and more pleasurable.
3. Forgive and let it go.
“The weak can never forgive. Forgiveness is the attribute of the strong.”
“An eye for eye only ends up making the whole world blind.”
Fighting evil with evil won’t help anyone. And as said in the previous tip, you always choose how to react to something. When you can incorporate such a thought habit more and more into your life then you can react in a way that is more useful to you and others.
You realize that forgiving and letting go of the past will do you and the people in your world a great service. And spending your time in some negative memory won’t help you after you have learned the lessons you can learn from that experience. You’ll probably just cause yourself more suffering and paralyze yourself from taking action in this present moment.
If you don’t forgive then you let the past and another person to control how you feel. By forgiving you release yourself from those bonds. And then you can focus totally on, for instance, the next point.
4. Without action you aren’t going anywhere.
“An ounce of practice is worth more than tons of preaching.”
Without taking action very little will be done. However, taking action can be hard and difficult. There can be much inner resistance.
And so you may resort to preaching, as Gandhi says. Or reading and studying endlessly. And feeling like you are moving forward. But getting little or no practical results in real life.
So, to really get where you want to go and to really understand yourself and your world you need to practice. Books can mostly just bring you knowledge. You have to take action and translate that knowledge into results and understanding.
You can check out a few effective tips to overcome this problem in How to Take More Action: 9 Powerful Tips. Or you can move on to the next point for more on the best tip for taking more action that I have found so far.
5. Take care of this moment.
“I do not want to foresee the future. I am concerned with taking care of the present. God has given me no control over the moment following.”
The best way that I have found to overcome the inner resistance that often stops us from taking action is to stay in the present as much as possible and to be accepting.
Why? Well, when you are in the present moment you don’t worry about the next moment that you can’t control anyway. And the resistance to action that comes from you imagining negative future consequences - or reflecting on past failures - of your actions loses its power. And so it becomes easier to both take action and to keep your focus on this moment and perform better.
Have a look at 8 Ways to Return to the Present Moment for tips on how quickly step into the now. And remember that reconnecting with and staying in the now is a mental habit - a sort of muscle - that you grow. Over time it becomes more powerful and makes it easier to slip into the present moment.
6. Everyone is human.
“I claim to be a simple individual liable to err like any other fellow mortal. I own, however, that I have humility enough to confess my errors and to retrace my steps.”
“It is unwise to be too sure of one’s own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err.”
When you start to make myths out of people – even though they may have produced extraordinary results – you run the risk of becoming disconnected from them. You can start to feel like you could never achieve similar things that they did because they are so very different. So it’s important to keep in mind that everyone is just a human being no matter who they are.
And I think it’s important to remember that we are all human and prone to make mistakes. Holding people to unreasonable standards will only create more unnecessary conflicts in your world and negativity within you.
It’s also important to remember this to avoid falling into the pretty useless habit of beating yourself up over mistakes that you have made. And instead be able to see with clarity where you went wrong and what you can learn from your mistake. And then try again.
7. Persist.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
Be persistent. In time the opposition around you will fade and fall away. And your inner resistance and self-sabotaging tendencies that want to hold you back and keep you like you have always been will grow weaker.
Find what you really like to do. Then you’ll find the inner motivation to keep going, going and going. You can also find a lot of useful tips on how keep your motivation up in How to Get Out of a Motivational Slump and 25 Simple Ways to Motivate Yourself.
One reason Gandhi was so successful with his method of non-violence was because he and his followers were so persistent. They just didn’t give up.
Success or victory will seldom come as quickly as you would have liked it to. I think one of the reasons people don’t get what they want is simply because they give up too soon. The time they think an achievement will require isn’t the same amount of time it usually takes to achieve that goal. This faulty belief partly comes from the world we live in. A world full of magic pill solutions where advertising continually promises us that we can lose a lot of weight or earn a ton of money in just 30 days. You can read more about this in One Big Mistake a Whole Lot of People Make.
Finally, one useful tip to keep your persistence going is to listen to Gandhi’s third quote in this article and keep a sense of humor. It can lighten things up at the toughest of times.
8. See the good in people and help them.
“I look only to the good qualities of men. Not being faultless myself, I won’t presume to probe into the faults of others.”
“Man becomes great exactly in the degree in which he works for the welfare of his fellow-men.”
“I suppose leadership at one time meant muscles; but today it means getting along with people.”
There is pretty much always something good in people. And things that may not be so good. But you can choose what things to focus on. And if you want improvement then focusing on the good in people is a useful choice. It also makes life easier for you as your world and relationships become more pleasant and positive.
And when you see the good in people it becomes easier to motivate yourself to be of service to them. By being of service to other people, by giving them value you not only make their lives better. Over time you tend to get what you give. And the people you help may feel more inclined to help other people. And so you, together, create an upward spiral of positive change that grows and becomes stronger.
By strengthening your social skills you can become a more influential person and make this upward spiral even stronger. A few articles that may provide you with useful advice in that department are Do You Make These 10 Mistakes in a Conversation? and Dale Carnegie’s Top 10 Tips for Improving Your Social Skills. Or you can just move on to the next tip.
9. Be congruent, be authentic, be your true self.
“Happiness is when what you think, what you say, and what you do are in harmony.”
“Always aim at complete harmony of thought and word and deed. Always aim at purifying your thoughts and everything will be well.”
I think that one of the best tips for improving your social skills is to behave in a congruent manner and communicate in an authentic way. People seem to really like authentic communication. And there is much inner enjoyment to be found when your thoughts, words and actions are aligned. You feel powerful and good about yourself.
When words and thoughts are aligned then that shows through in your communication. Because now you have your voice tonality and body language – some say they are over 90 percent of communication – in alignment with your words.
With these channels in alignment people tend to really listen to what you’re saying. You are communicating without incongruency, mixed messages or perhaps a sort of phoniness.
Also, if your actions aren’t in alignment with what you’re communicating then you start to hurt your own belief in what you can do. And other people’s belief in you too.
10. Continue to grow and evolve.
”Constant development is the law of life, and a man who always tries to maintain his dogmas in order to appear consistent drives himself into a false position.”
You can pretty much always improve your skills, habits or re-evaluate your evaluations. You can gain deeper understanding of yourself and the world.
Sure, you may look inconsistent or like you don’t know what you are doing from time to time. You may have trouble to act congruently or to communicate authentically. But if you don’t then you will, as Gandhi says, drive yourself into a false position. A place where you try to uphold or cling to your old views to appear consistent while you realise within that something is wrong. It’s not a fun place to be. To choose to grow and evolve is a happier and more useful path to take.
“You must be the change you want to see in the world.”
“As human beings, our greatness lies not so much in being able to remake the world - that is the myth of the atomic age - as in being able to remake ourselves.”
If you change yourself you will change your world. If you change how you think then you will change how you feel and what actions you take. And so the world around you will change. Not only because you are now viewing your environment through new lenses of thoughts and emotions but also because the change within can allow you to take action in ways you wouldn’t have – or maybe even have thought about – while stuck in your old thought patterns.
And the problem with changing your outer world without changing yourself is that you will still be you when you reach that change you have strived for. You will still have your flaws, anger, negativity, self-sabotaging tendencies etc. intact.
And so in this new situation you will still not find what you hoped for since your mind is still seeping with that negative stuff. And if you get more without having some insight into and distance from your ego it may grow more powerful. Since your ego loves to divide things, to find enemies and to create separation it may start to try to create even more problems and conflicts in your life and world.
2. You are in control.
“Nobody can hurt me without my permission.”
What you feel and how you react to something is always up to you. There may be a “normal” or a common way to react to different things. But that’s mostly just all it is.
You can choose your own thoughts, reactions and emotions to pretty much everything. You don’t have to freak out, overreact of even react in a negative way. Perhaps not every time or instantly. Sometimes a knee-jerk reaction just goes off. Or an old thought habit kicks in.
And as you realize that no-one outside of yourself can actually control how you feel you can start to incorporate this thinking into your daily life and develop it as a thought habit. A habit that you can grow stronger and stronger over time. Doing this makes life a whole lot easier and more pleasurable.
3. Forgive and let it go.
“The weak can never forgive. Forgiveness is the attribute of the strong.”
“An eye for eye only ends up making the whole world blind.”
Fighting evil with evil won’t help anyone. And as said in the previous tip, you always choose how to react to something. When you can incorporate such a thought habit more and more into your life then you can react in a way that is more useful to you and others.
You realize that forgiving and letting go of the past will do you and the people in your world a great service. And spending your time in some negative memory won’t help you after you have learned the lessons you can learn from that experience. You’ll probably just cause yourself more suffering and paralyze yourself from taking action in this present moment.
If you don’t forgive then you let the past and another person to control how you feel. By forgiving you release yourself from those bonds. And then you can focus totally on, for instance, the next point.
4. Without action you aren’t going anywhere.
“An ounce of practice is worth more than tons of preaching.”
Without taking action very little will be done. However, taking action can be hard and difficult. There can be much inner resistance.
And so you may resort to preaching, as Gandhi says. Or reading and studying endlessly. And feeling like you are moving forward. But getting little or no practical results in real life.
So, to really get where you want to go and to really understand yourself and your world you need to practice. Books can mostly just bring you knowledge. You have to take action and translate that knowledge into results and understanding.
You can check out a few effective tips to overcome this problem in How to Take More Action: 9 Powerful Tips. Or you can move on to the next point for more on the best tip for taking more action that I have found so far.
5. Take care of this moment.
“I do not want to foresee the future. I am concerned with taking care of the present. God has given me no control over the moment following.”
The best way that I have found to overcome the inner resistance that often stops us from taking action is to stay in the present as much as possible and to be accepting.
Why? Well, when you are in the present moment you don’t worry about the next moment that you can’t control anyway. And the resistance to action that comes from you imagining negative future consequences - or reflecting on past failures - of your actions loses its power. And so it becomes easier to both take action and to keep your focus on this moment and perform better.
Have a look at 8 Ways to Return to the Present Moment for tips on how quickly step into the now. And remember that reconnecting with and staying in the now is a mental habit - a sort of muscle - that you grow. Over time it becomes more powerful and makes it easier to slip into the present moment.
6. Everyone is human.
“I claim to be a simple individual liable to err like any other fellow mortal. I own, however, that I have humility enough to confess my errors and to retrace my steps.”
“It is unwise to be too sure of one’s own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err.”
When you start to make myths out of people – even though they may have produced extraordinary results – you run the risk of becoming disconnected from them. You can start to feel like you could never achieve similar things that they did because they are so very different. So it’s important to keep in mind that everyone is just a human being no matter who they are.
And I think it’s important to remember that we are all human and prone to make mistakes. Holding people to unreasonable standards will only create more unnecessary conflicts in your world and negativity within you.
It’s also important to remember this to avoid falling into the pretty useless habit of beating yourself up over mistakes that you have made. And instead be able to see with clarity where you went wrong and what you can learn from your mistake. And then try again.
7. Persist.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
Be persistent. In time the opposition around you will fade and fall away. And your inner resistance and self-sabotaging tendencies that want to hold you back and keep you like you have always been will grow weaker.
Find what you really like to do. Then you’ll find the inner motivation to keep going, going and going. You can also find a lot of useful tips on how keep your motivation up in How to Get Out of a Motivational Slump and 25 Simple Ways to Motivate Yourself.
One reason Gandhi was so successful with his method of non-violence was because he and his followers were so persistent. They just didn’t give up.
Success or victory will seldom come as quickly as you would have liked it to. I think one of the reasons people don’t get what they want is simply because they give up too soon. The time they think an achievement will require isn’t the same amount of time it usually takes to achieve that goal. This faulty belief partly comes from the world we live in. A world full of magic pill solutions where advertising continually promises us that we can lose a lot of weight or earn a ton of money in just 30 days. You can read more about this in One Big Mistake a Whole Lot of People Make.
Finally, one useful tip to keep your persistence going is to listen to Gandhi’s third quote in this article and keep a sense of humor. It can lighten things up at the toughest of times.
8. See the good in people and help them.
“I look only to the good qualities of men. Not being faultless myself, I won’t presume to probe into the faults of others.”
“Man becomes great exactly in the degree in which he works for the welfare of his fellow-men.”
“I suppose leadership at one time meant muscles; but today it means getting along with people.”
There is pretty much always something good in people. And things that may not be so good. But you can choose what things to focus on. And if you want improvement then focusing on the good in people is a useful choice. It also makes life easier for you as your world and relationships become more pleasant and positive.
And when you see the good in people it becomes easier to motivate yourself to be of service to them. By being of service to other people, by giving them value you not only make their lives better. Over time you tend to get what you give. And the people you help may feel more inclined to help other people. And so you, together, create an upward spiral of positive change that grows and becomes stronger.
By strengthening your social skills you can become a more influential person and make this upward spiral even stronger. A few articles that may provide you with useful advice in that department are Do You Make These 10 Mistakes in a Conversation? and Dale Carnegie’s Top 10 Tips for Improving Your Social Skills. Or you can just move on to the next tip.
9. Be congruent, be authentic, be your true self.
“Happiness is when what you think, what you say, and what you do are in harmony.”
“Always aim at complete harmony of thought and word and deed. Always aim at purifying your thoughts and everything will be well.”
I think that one of the best tips for improving your social skills is to behave in a congruent manner and communicate in an authentic way. People seem to really like authentic communication. And there is much inner enjoyment to be found when your thoughts, words and actions are aligned. You feel powerful and good about yourself.
When words and thoughts are aligned then that shows through in your communication. Because now you have your voice tonality and body language – some say they are over 90 percent of communication – in alignment with your words.
With these channels in alignment people tend to really listen to what you’re saying. You are communicating without incongruency, mixed messages or perhaps a sort of phoniness.
Also, if your actions aren’t in alignment with what you’re communicating then you start to hurt your own belief in what you can do. And other people’s belief in you too.
10. Continue to grow and evolve.
”Constant development is the law of life, and a man who always tries to maintain his dogmas in order to appear consistent drives himself into a false position.”
You can pretty much always improve your skills, habits or re-evaluate your evaluations. You can gain deeper understanding of yourself and the world.
Sure, you may look inconsistent or like you don’t know what you are doing from time to time. You may have trouble to act congruently or to communicate authentically. But if you don’t then you will, as Gandhi says, drive yourself into a false position. A place where you try to uphold or cling to your old views to appear consistent while you realise within that something is wrong. It’s not a fun place to be. To choose to grow and evolve is a happier and more useful path to take.
Via: positivityblog.com
Monday, 7 September 2009
10 Characteristics of Great Companies
1) Great companies are constantly innovating and delighting their customers/users with new products and services.
2) Great companies are built to last and be independent and sustainable. Great companies don't sell out.
3) Great companies make lots of money but leave even more money on the table for their users and partners.
4) Great companies don't look elsewhere for ideas. They develop their ideas internally and are copied by others.
5) Great companies infect their users/customers with their brand. They turn their users and customers into marketing/salesforces.
6) Great companies are led by entrepreneurs who own a meaningful piece of the business. As such, they make decisions based on long term business needs and objectives not short term goals.
7) Great companies have a global mindset. They treat every person in the world as a potential customer/user.
8) Great companies are attempting to change the world in addition to making money.
9) Great companies are not reliant on any one person to deliver their value proposition.
10) Great companies put the customer/user first above any other priority.
Via: avc.com
2) Great companies are built to last and be independent and sustainable. Great companies don't sell out.
3) Great companies make lots of money but leave even more money on the table for their users and partners.
4) Great companies don't look elsewhere for ideas. They develop their ideas internally and are copied by others.
5) Great companies infect their users/customers with their brand. They turn their users and customers into marketing/salesforces.
6) Great companies are led by entrepreneurs who own a meaningful piece of the business. As such, they make decisions based on long term business needs and objectives not short term goals.
7) Great companies have a global mindset. They treat every person in the world as a potential customer/user.
8) Great companies are attempting to change the world in addition to making money.
9) Great companies are not reliant on any one person to deliver their value proposition.
10) Great companies put the customer/user first above any other priority.
Via: avc.com
Sunday, 30 August 2009
The 7 Most Overrated Businesses
1. Restaurants. Dining out and cooking are among Americans' favorite pastimes. But "restaurants are among the toughest businesses to run," says Donna Ettenson, vice president of the Association of Small Business Development Centers in Burke, Va.
Far too many people assume their culinary abilities will lead to success in the restaurant business. Instead, about 60% of restaurants close in the first three years, according to a 2003 study at Ohio State University. That's quite a bit higher than the roughly half of all start-ups that close in the first five years.
The reason: Restaurants typically have low profit margins and need strong managers who can run an ultra-tight ship through seasonal fluctuations and other struggles. Most people don't have that kind of intense managerial ability to pull it off. By the way, the pitfalls are quite similar for restaurants' cousin – the catering business. In other words, Chef Emptor.
2. Direct Sales. It's a tempting pitch: Work from home and earn commissions by selling cosmetics, kitchen knives or cleaning products. But companies that recruit independent sales reps tend to attract new team members by pointing to the success of their highest earners.
A harder look shows that those high earners are making big money in large part by recruiting new reps into the organization and getting bonuses or a cut of their recruits' commissions, says Ken Yancey, chief executive of SCORE, a Herndon, Va., organization of current and retired business executives who volunteer time counseling entrepreneurs. The new reps then have a much harder job because they need to recruit more people on top of selling product even though the number of reps out there is increasing.
The result, Yancey says: "Most of them wind up with a bunch of jewelry or kitchen equipment sitting in their basement that they can't sell."
3. Online Retail. By far, one of the easiest businesses to start is selling items through online marketplaces such as eBay or Amazon. But as online commerce ages and these sites fill up with more established retailers, it's much harder for new, small sellers to compete for attention and generate a viable income.
"A lot of people are thinking it's the Web of five or 10 years ago and you stand out simply because you're on the Web," says Rieva Lesonsky, chief executive of GrowBiz Media, a content and consulting company for small businesses based in Irvine, Calif.
Instead, successful online retailers today must have a handle on sourcing their products at a low enough price, then layering on clever online marketing and fine-tuned logistics. These businesses won't generate much income if they can't be easily found in searches, maintain a good reputation among buyers or add enough value so that sellers can build profit margins high enough to take on bigger players and physical stores.
4. High-End Retail. Many people dream of opening a day spa, luxury jewelry store or designer clothing boutique – businesses they feel good patronizing. But specialty retail businesses close at higher rates than non-specialty stores, according to the Small Business Administration's Office of Advocacy, and are even riskier now that consumer discretionary spending has dried up and people are no longer spending money on little luxuries.
"It's going to be a long time before we return to the days of conspicuous consumption," says Ms. Lesonsky of GrowBiz Media. High-end retailers often suffer from poor locations and lack of understanding of how to source and market their products in an effective way. In today's economy and in coming years, she says, retail entrepreneurs should be looking to sell non-discretionary consumer goods or offer items at a value rather than high-end products.
5. Independent Consulting. Common advice for aspiring entrepreneurs is to stick with industries they know. So, for many looking to escape the corporate treadmill that means turning their professional expertise into a one-person consulting firm.
It seems practical – more companies are indeed relying on independent contractors and freelancers these days – but it's not as easy to pull off as many imagine, says Dennis Ceru, an entrepreneurship professor at Babson College in Babson Park, Mass. Many consultants struggle with time management problems, spending so much time scouting work that it's very difficult to earn steady income. "The difficulty many face is they go through peaks and valleys of having work," says Prof. Ceru. "When the engagement ends, they are frantically looking for work," which may take weeks or months.
A possible solution: "A successful consulting firm needs people to find the work, grind out the work and mind the work. Unless you know you can do all three yourself, you potentially expose your business to great risk."
6. Franchise Ownership. The idea of being handed a proven business plan without the uncertainties and headaches that come with building a business from scratch is understandably alluring. But too many people don't understand the risks associated with franchising and sign restrictive franchise agreements without thoroughly researching their franchisor and their contractual obligations, says SCORE's Yancey.
Some franchisors, for instance, allow franchisees to open stores too close together, oversaturating the market. Or they simply require their franchisees pay so much in royalties and fees or other operational costs that it's very difficult to be profitable. Beyond that, when a franchisee fails, a franchisor may make it extremely difficult and costly to get out of its contract.
It's a myth that franchises are far more successful than independent businesses. A 1995 study by a researcher at Wayne State University found that 62% of franchises were open for business after four years, compared with 68% of independent businesses. And franchises were also found to be less profitable in those early years.
7. Traffic-Driven Web Sites. Everybody has witnessed the success of social-networking sites like Facebook and popular blogs that generate all their revenue off advertising. But as the Internet ages, that's much harder to accomplish, says Martin Zwilling, a start-up consultant in Fountain Hills, Ariz., who specializes in helping entrepreneurs find angel investors.
Zwilling says he hears pitches for new social-networking sites about once a week, but actively deters people from starting them. "I say, skip it," he says. "You need to invest $50 million to get any presence" in the social-networking space right now and it's very difficult to get people to leave established sites. What's more, he says, the amount of traffic needed to build a lucrative traffic-driven Web site is far more than most new Web entrepreneurs realize: "Until you get to the point where you have a million page views a day, you're nowhere."
Far too many people assume their culinary abilities will lead to success in the restaurant business. Instead, about 60% of restaurants close in the first three years, according to a 2003 study at Ohio State University. That's quite a bit higher than the roughly half of all start-ups that close in the first five years.
The reason: Restaurants typically have low profit margins and need strong managers who can run an ultra-tight ship through seasonal fluctuations and other struggles. Most people don't have that kind of intense managerial ability to pull it off. By the way, the pitfalls are quite similar for restaurants' cousin – the catering business. In other words, Chef Emptor.
2. Direct Sales. It's a tempting pitch: Work from home and earn commissions by selling cosmetics, kitchen knives or cleaning products. But companies that recruit independent sales reps tend to attract new team members by pointing to the success of their highest earners.
A harder look shows that those high earners are making big money in large part by recruiting new reps into the organization and getting bonuses or a cut of their recruits' commissions, says Ken Yancey, chief executive of SCORE, a Herndon, Va., organization of current and retired business executives who volunteer time counseling entrepreneurs. The new reps then have a much harder job because they need to recruit more people on top of selling product even though the number of reps out there is increasing.
The result, Yancey says: "Most of them wind up with a bunch of jewelry or kitchen equipment sitting in their basement that they can't sell."
3. Online Retail. By far, one of the easiest businesses to start is selling items through online marketplaces such as eBay or Amazon. But as online commerce ages and these sites fill up with more established retailers, it's much harder for new, small sellers to compete for attention and generate a viable income.
"A lot of people are thinking it's the Web of five or 10 years ago and you stand out simply because you're on the Web," says Rieva Lesonsky, chief executive of GrowBiz Media, a content and consulting company for small businesses based in Irvine, Calif.
Instead, successful online retailers today must have a handle on sourcing their products at a low enough price, then layering on clever online marketing and fine-tuned logistics. These businesses won't generate much income if they can't be easily found in searches, maintain a good reputation among buyers or add enough value so that sellers can build profit margins high enough to take on bigger players and physical stores.
4. High-End Retail. Many people dream of opening a day spa, luxury jewelry store or designer clothing boutique – businesses they feel good patronizing. But specialty retail businesses close at higher rates than non-specialty stores, according to the Small Business Administration's Office of Advocacy, and are even riskier now that consumer discretionary spending has dried up and people are no longer spending money on little luxuries.
"It's going to be a long time before we return to the days of conspicuous consumption," says Ms. Lesonsky of GrowBiz Media. High-end retailers often suffer from poor locations and lack of understanding of how to source and market their products in an effective way. In today's economy and in coming years, she says, retail entrepreneurs should be looking to sell non-discretionary consumer goods or offer items at a value rather than high-end products.
5. Independent Consulting. Common advice for aspiring entrepreneurs is to stick with industries they know. So, for many looking to escape the corporate treadmill that means turning their professional expertise into a one-person consulting firm.
It seems practical – more companies are indeed relying on independent contractors and freelancers these days – but it's not as easy to pull off as many imagine, says Dennis Ceru, an entrepreneurship professor at Babson College in Babson Park, Mass. Many consultants struggle with time management problems, spending so much time scouting work that it's very difficult to earn steady income. "The difficulty many face is they go through peaks and valleys of having work," says Prof. Ceru. "When the engagement ends, they are frantically looking for work," which may take weeks or months.
A possible solution: "A successful consulting firm needs people to find the work, grind out the work and mind the work. Unless you know you can do all three yourself, you potentially expose your business to great risk."
6. Franchise Ownership. The idea of being handed a proven business plan without the uncertainties and headaches that come with building a business from scratch is understandably alluring. But too many people don't understand the risks associated with franchising and sign restrictive franchise agreements without thoroughly researching their franchisor and their contractual obligations, says SCORE's Yancey.
Some franchisors, for instance, allow franchisees to open stores too close together, oversaturating the market. Or they simply require their franchisees pay so much in royalties and fees or other operational costs that it's very difficult to be profitable. Beyond that, when a franchisee fails, a franchisor may make it extremely difficult and costly to get out of its contract.
It's a myth that franchises are far more successful than independent businesses. A 1995 study by a researcher at Wayne State University found that 62% of franchises were open for business after four years, compared with 68% of independent businesses. And franchises were also found to be less profitable in those early years.
7. Traffic-Driven Web Sites. Everybody has witnessed the success of social-networking sites like Facebook and popular blogs that generate all their revenue off advertising. But as the Internet ages, that's much harder to accomplish, says Martin Zwilling, a start-up consultant in Fountain Hills, Ariz., who specializes in helping entrepreneurs find angel investors.
Zwilling says he hears pitches for new social-networking sites about once a week, but actively deters people from starting them. "I say, skip it," he says. "You need to invest $50 million to get any presence" in the social-networking space right now and it's very difficult to get people to leave established sites. What's more, he says, the amount of traffic needed to build a lucrative traffic-driven Web site is far more than most new Web entrepreneurs realize: "Until you get to the point where you have a million page views a day, you're nowhere."
Via: smallbusinessanswers
Monday, 17 August 2009
The Power of 1%
The following was sent to all Zappos employees :
Team,
Happy New Year! To kick off the year, I sent this on Jan. 2nd to a smaller group, but a few folks suggested that it should be sent to all Zappos employees. Here is a slightly cleaned up and better version of what was sent.
--
"It was the best of times and it was the worst of times." – A Tale of Two Cities, by Charles Dickens
On CNBC Reports 2008, Maria Bartiromo quoted Charles Dickens, noting that, while Dickens was referring to the French Revolution, he could have easily been talking about 2008.
No doubt, 2008 was a very challenging year, starting out with a weak economic and retail environment that degraded slowly in the first half of the year and then fell off a cliff in the second half of the year. Depending on what reports you read, online ecommerce was down 3-5% this holiday season, marking the first time ecommerce didn't grow. Reading about these not-so-positive reports just goes to show how very lucky we are at Zappos, because we were able to ride through these rocky times and produce pretty incredible results. No, things weren't perfect, but 2008 was still a great year for us! Official results have to wait until our finance team closes the books and releases the audited financials in early March, but we managed to grow our business over last year and during the holiday season (when ecommerce was down), exceeded $1B in gross merchandise sales, and by Doing More with Less, kept ourselves profitable and cash positive – all the while having a lot of fun serving our customers!
We can reminisce about 2008, but now that 2009 is here and we are back from some much needed downtime, it's time to get our A-game back on. We'll be going over our goals and our "official" plans as soon as our board approves them, but even before that "officially" happens, we already know what we need to do.
One thing I encourage you to do is to refer back to our Core Values document and specifically the challenge in there: make at least one improvement every week that makes Zappos better. Ideally, we would do this every single day. It sounds daunting, but remember improvements don't have to be dramatic. Think about what it means to improve just 1% per day and build upon that every single day. Doing so has a dramatic effect and will make us 37x better, not 365% (3.65x) better at the end of the year. Wake up every day and ask yourself not only what is the 1% improvement I can change to make Zappos better, but also what is the 1% improvement I can change to make myself better personally and professionally – because we, Zappos, can't grow unless we as individual people grow too.
Imagine yourself making 1% changes every day that compounds and will make you and Zappos 37x better by the end of the year. Imagine if every employee at Zappos was doing the same. Imagine how much better you, Zappos and the
world will be next year.
It won't be easy and 2009 will no doubt present its own set of challenges, but we positively will get through it. Have a great and happy 2009!
P.S. Also check out Tony's blog entry, Your Culture Is Your Brand.
P.P.S. This is for the math geeks. If you start out with $100 at the beginning of the year and you were able to increase what you have by 1% every single day, at the end of the year, you would have $3,778.34 = $100 * (1 + 1%) ^ 365. That is 37.78x what you had at the beginning of the year. Get that 1% every single day!
Team,
Happy New Year! To kick off the year, I sent this on Jan. 2nd to a smaller group, but a few folks suggested that it should be sent to all Zappos employees. Here is a slightly cleaned up and better version of what was sent.
--
"It was the best of times and it was the worst of times." – A Tale of Two Cities, by Charles Dickens
On CNBC Reports 2008, Maria Bartiromo quoted Charles Dickens, noting that, while Dickens was referring to the French Revolution, he could have easily been talking about 2008.
No doubt, 2008 was a very challenging year, starting out with a weak economic and retail environment that degraded slowly in the first half of the year and then fell off a cliff in the second half of the year. Depending on what reports you read, online ecommerce was down 3-5% this holiday season, marking the first time ecommerce didn't grow. Reading about these not-so-positive reports just goes to show how very lucky we are at Zappos, because we were able to ride through these rocky times and produce pretty incredible results. No, things weren't perfect, but 2008 was still a great year for us! Official results have to wait until our finance team closes the books and releases the audited financials in early March, but we managed to grow our business over last year and during the holiday season (when ecommerce was down), exceeded $1B in gross merchandise sales, and by Doing More with Less, kept ourselves profitable and cash positive – all the while having a lot of fun serving our customers!
We can reminisce about 2008, but now that 2009 is here and we are back from some much needed downtime, it's time to get our A-game back on. We'll be going over our goals and our "official" plans as soon as our board approves them, but even before that "officially" happens, we already know what we need to do.
One thing I encourage you to do is to refer back to our Core Values document and specifically the challenge in there: make at least one improvement every week that makes Zappos better. Ideally, we would do this every single day. It sounds daunting, but remember improvements don't have to be dramatic. Think about what it means to improve just 1% per day and build upon that every single day. Doing so has a dramatic effect and will make us 37x better, not 365% (3.65x) better at the end of the year. Wake up every day and ask yourself not only what is the 1% improvement I can change to make Zappos better, but also what is the 1% improvement I can change to make myself better personally and professionally – because we, Zappos, can't grow unless we as individual people grow too.
Imagine yourself making 1% changes every day that compounds and will make you and Zappos 37x better by the end of the year. Imagine if every employee at Zappos was doing the same. Imagine how much better you, Zappos and the
world will be next year.
It won't be easy and 2009 will no doubt present its own set of challenges, but we positively will get through it. Have a great and happy 2009!
P.S. Also check out Tony's blog entry, Your Culture Is Your Brand.
P.P.S. This is for the math geeks. If you start out with $100 at the beginning of the year and you were able to increase what you have by 1% every single day, at the end of the year, you would have $3,778.34 = $100 * (1 + 1%) ^ 365. That is 37.78x what you had at the beginning of the year. Get that 1% every single day!
Via: zappos.com
Tuesday, 11 August 2009
What Makes A Presentation Great?
Clarity
Clarity of communication is the first thing I look for. In thought, and how that thought translates the message you are intending to communicate to your audience. A great presentation is clear in intent, communication and articulates a specific point of view. Bonus points for presenting that point of view in a unique fashion.
Drama
Great presentations are delightful in some way. Drama means connecting with your audience in a way that taps into some emotional trigger at a human level—storytelling often does this. One of the most difficult things to do is to present information (even dry information) in a way that is compelling and captures the attention. A certain amount of drama will do this.
Design
Visual communication in presentations can really help them stand apart from others. You can take two presentations that have equal amounts of substance, but the one that is better designed is usually the one that has the advantage. Visual design matters in presentations.
Flow
Great presentations seem to have a natural cadence and flow to them that's hard to describe, but you know it when you see it. It's not forced, transitions are natural and it all just seems to come together. Getting your presentation to flow well seems like it should take the least amount of time but often ends up taking the most, it involves editing, iterating and tweaking that can take your presentation to the next level.
Substance
Of course, a presentation is nothing without great content. If your story is dull, then no matter how great of a storyteller you are, it will fall flat. All great presentations should include a level of substance that make you feel like you've invested your time well after reviewing it.
Clarity of communication is the first thing I look for. In thought, and how that thought translates the message you are intending to communicate to your audience. A great presentation is clear in intent, communication and articulates a specific point of view. Bonus points for presenting that point of view in a unique fashion.
Drama
Great presentations are delightful in some way. Drama means connecting with your audience in a way that taps into some emotional trigger at a human level—storytelling often does this. One of the most difficult things to do is to present information (even dry information) in a way that is compelling and captures the attention. A certain amount of drama will do this.
Design
Visual communication in presentations can really help them stand apart from others. You can take two presentations that have equal amounts of substance, but the one that is better designed is usually the one that has the advantage. Visual design matters in presentations.
Flow
Great presentations seem to have a natural cadence and flow to them that's hard to describe, but you know it when you see it. It's not forced, transitions are natural and it all just seems to come together. Getting your presentation to flow well seems like it should take the least amount of time but often ends up taking the most, it involves editing, iterating and tweaking that can take your presentation to the next level.
Substance
Of course, a presentation is nothing without great content. If your story is dull, then no matter how great of a storyteller you are, it will fall flat. All great presentations should include a level of substance that make you feel like you've invested your time well after reviewing it.
Via: Logic Emotion
Monday, 10 August 2009
Your Culture Is Your Brand
Building a brand today is very different from building a brand 50 years ago. It used to be that a few people got together in a room, decided what the brand positioning was going to be, and then spent a lot of money buying advertising telling people what their brand was. And if you were able to spend enough money, then you were able to build your brand.
It's a very different world today. With the Internet connecting everyone together, companies are becoming more and more transparent whether they like it or not. An unhappy customer or a disgruntled employee can blog about bad experience with a company, and the story can spread like wildfire by email or with tools like Twitter.
The good news is that the reverse is true as well. A great experience with a company can be read by millions of people almost instantaneously as well.
The fundamental problem is that you can't possibly anticipate every possible touchpoint that could influence the perception of your company's brand.
For example, if you happen to meet an employee of Company X at a bar, even if the employee isn't working, how you perceive your interaction with that employee will affect how you perceive Company X, and therefore Company X's brand. It can be a positive influence, or a negative influence. Every employee can affect your company's brand, not just the front line employees that are paid to talk to your customers.
At Zappos.com, we decided a long time ago that we didn't want our brand to be just about shoes, or clothing, or even online retailing. We decided that we wanted to build our brand to be about the very best customer service and the very best customer experience. We believe that customer service shouldn't be just a department, it should be the entire company.
Advertising can only get your brand so far. If you ask most people what the "brand" of the airline industry as a whole is (not any specific airline, but the entire industry), they will usually say something about bad customer service or bad customer experience. If you ask people what their perception of the US auto industry is today, chances are the responses you get won't be in line with what the automakers project in their advertising.
So what's a company to do if you can't just buy your way into building the brand you want? What's the best way to build a brand for the long term?
In a word: culture.
At Zappos, our belief is that if you get the culture right, most of the other stuff -- like great customer service, or building a great long-term brand, or passionate employees and customers -- will happen naturally on its own.
We believe that your company's culture and your company's brand are really just two sides of the same coin. The brand may lag the culture at first, but eventually it will catch up.
Your culture is your brand.
So how do you build and maintain the culture that you want?
It starts with the hiring process. At Zappos, we actually do two different sets of interviews. The hiring manager and his/her team will do the standard set of interviews looking for relevant experience, technical ability, fit within the team, etc. But then our HR department does a separate set of interviews, looking purely for culture fit. Candidates have to pass both sets of interviews in order to be hired.
We've actually said no to a lot of very talented people that we know can make an immediate impact on our top or bottom line. But because we felt they weren't culture fits, we were willing to sacrifice the short term benefits in order to protect our culture (and therefore our brand) for the long term.
After hiring, the next step to building the culture is training. Everyone that is hired into our headquarters goes through the same training that our Customer Loyalty Team (call center) reps go through, regardless of department or title. You might be an accountant, or a lawyer, or a software developer -- you go through the exact same training program.
It's a 4-week training program, in which we go over company history, the importance of customer service, the long term vision of the company, our philosophy about company culture -- and then you're actually on the phone for 2 weeks, taking calls from customers. Again, this goes back to our belief that customer service shouldn't just be a department, it should be the entire company.
At the end of the first week of training, we make an offer to the entire class. We offer everyone $2000 to quit (in addition to paying them for the time they've already worked), and it's a standing offer until the end of the fourth week of training. We want to make sure that employees are here for more than just a paycheck. We want employees that believe in our long term vision and want to be a part of our culture. As it turns out, on average, less than 1% of people end up taking the offer.
One of the great advantages of focusing on culture is when reporters come and visit our offices. Unlike most companies, we don't give reporters a small list of people they're allowed to talk to. Instead, we encourage them to wander around and talk to whoever they want. It's our way of being as transparent as possible, which is part of our culture.
We've formally defined our the Zappos culture in terms of 10 core values:
1) Deliver WOW Through Service
2) Embrace and Drive Change
3) Create Fun and A Little Weirdness
4) Be Adventurous, Creative, and Open-Minded
5) Pursue Growth and Learning
6) Build Open and Honest Relationships With Communication
7) Build a Positive Team and Family Spirit
8) Do More With Less
9) Be Passionate and Determined
10) Be Humble
Many companies have core values, but they don't really commit to them. They usually sound more like something you'd read in a press release. Maybe you learn about them on day 1 of orientation, but after that it's just a meaningless plaque on the wall of the lobby.
We believe that it's really important to come up with core values that you can commit to. And by commit, we mean that you're willing to hire and fire based on them. If you're willing to do that, then you're well on your way to building a company culture that is in line with the brand you want to build. You can let all of your employees be your brand ambassadors, not just the marketing or PR department. And they can be brand ambassadors both inside and outside the office.
At the end of the day, just remember that if you get the culture right, most of the other stuff -- including building a great brand -- will fall into place on its own.
Via: zappos blog
It's a very different world today. With the Internet connecting everyone together, companies are becoming more and more transparent whether they like it or not. An unhappy customer or a disgruntled employee can blog about bad experience with a company, and the story can spread like wildfire by email or with tools like Twitter.
The good news is that the reverse is true as well. A great experience with a company can be read by millions of people almost instantaneously as well.
The fundamental problem is that you can't possibly anticipate every possible touchpoint that could influence the perception of your company's brand.
For example, if you happen to meet an employee of Company X at a bar, even if the employee isn't working, how you perceive your interaction with that employee will affect how you perceive Company X, and therefore Company X's brand. It can be a positive influence, or a negative influence. Every employee can affect your company's brand, not just the front line employees that are paid to talk to your customers.
At Zappos.com, we decided a long time ago that we didn't want our brand to be just about shoes, or clothing, or even online retailing. We decided that we wanted to build our brand to be about the very best customer service and the very best customer experience. We believe that customer service shouldn't be just a department, it should be the entire company.
Advertising can only get your brand so far. If you ask most people what the "brand" of the airline industry as a whole is (not any specific airline, but the entire industry), they will usually say something about bad customer service or bad customer experience. If you ask people what their perception of the US auto industry is today, chances are the responses you get won't be in line with what the automakers project in their advertising.
So what's a company to do if you can't just buy your way into building the brand you want? What's the best way to build a brand for the long term?
In a word: culture.
At Zappos, our belief is that if you get the culture right, most of the other stuff -- like great customer service, or building a great long-term brand, or passionate employees and customers -- will happen naturally on its own.
We believe that your company's culture and your company's brand are really just two sides of the same coin. The brand may lag the culture at first, but eventually it will catch up.
Your culture is your brand.
So how do you build and maintain the culture that you want?
It starts with the hiring process. At Zappos, we actually do two different sets of interviews. The hiring manager and his/her team will do the standard set of interviews looking for relevant experience, technical ability, fit within the team, etc. But then our HR department does a separate set of interviews, looking purely for culture fit. Candidates have to pass both sets of interviews in order to be hired.
We've actually said no to a lot of very talented people that we know can make an immediate impact on our top or bottom line. But because we felt they weren't culture fits, we were willing to sacrifice the short term benefits in order to protect our culture (and therefore our brand) for the long term.
After hiring, the next step to building the culture is training. Everyone that is hired into our headquarters goes through the same training that our Customer Loyalty Team (call center) reps go through, regardless of department or title. You might be an accountant, or a lawyer, or a software developer -- you go through the exact same training program.
It's a 4-week training program, in which we go over company history, the importance of customer service, the long term vision of the company, our philosophy about company culture -- and then you're actually on the phone for 2 weeks, taking calls from customers. Again, this goes back to our belief that customer service shouldn't just be a department, it should be the entire company.
At the end of the first week of training, we make an offer to the entire class. We offer everyone $2000 to quit (in addition to paying them for the time they've already worked), and it's a standing offer until the end of the fourth week of training. We want to make sure that employees are here for more than just a paycheck. We want employees that believe in our long term vision and want to be a part of our culture. As it turns out, on average, less than 1% of people end up taking the offer.
One of the great advantages of focusing on culture is when reporters come and visit our offices. Unlike most companies, we don't give reporters a small list of people they're allowed to talk to. Instead, we encourage them to wander around and talk to whoever they want. It's our way of being as transparent as possible, which is part of our culture.
We've formally defined our the Zappos culture in terms of 10 core values:
1) Deliver WOW Through Service
2) Embrace and Drive Change
3) Create Fun and A Little Weirdness
4) Be Adventurous, Creative, and Open-Minded
5) Pursue Growth and Learning
6) Build Open and Honest Relationships With Communication
7) Build a Positive Team and Family Spirit
8) Do More With Less
9) Be Passionate and Determined
10) Be Humble
Many companies have core values, but they don't really commit to them. They usually sound more like something you'd read in a press release. Maybe you learn about them on day 1 of orientation, but after that it's just a meaningless plaque on the wall of the lobby.
We believe that it's really important to come up with core values that you can commit to. And by commit, we mean that you're willing to hire and fire based on them. If you're willing to do that, then you're well on your way to building a company culture that is in line with the brand you want to build. You can let all of your employees be your brand ambassadors, not just the marketing or PR department. And they can be brand ambassadors both inside and outside the office.
At the end of the day, just remember that if you get the culture right, most of the other stuff -- including building a great brand -- will fall into place on its own.
Via: zappos blog
