Entrepreneurship Archives

The 4 Stages of Product Development: An Idea Comes to Life

Do you want to stand out against competitors in the market? How much customer feedback is enough to test your product? The product development process can be a rough journey. It’s not as simple as coming up with a brilliant idea and selling it immediately. To take action, you need to follow four steps that include every detail that goes into creating a product that will sell. Let’s look at the four stages of product development that can set up your product for success.

The 4 Characteristics of a Good Business Idea (John List)

How can you know your idea will scale? What should you look for, and what should you avoid? Economist and professor John A. List says that a viable business idea has four characteristics. It has a scalable audience, it’s not dependent on talented individuals, it anticipates spillover effects, and it keeps costs under control. Read on to learn about these four characteristics of a good business idea.

Kissing Frogs: Dean Kamen’s Advice for Creative Breakthroughs

Do you tend to give up when you don’t reach a breakthrough right away? What’s the best way to find a solution without wasting a lot of time? In The Third Door, Alex Banayan shares the insights into success that he learned from interviewing inventor Dean Kamen. Kamen’s secret is kissing frogs—in other words, persistently trying lots of solutions. Kamen cautions, though, that this must be done strategically so that you don’t waste time. Keep reading to learn how kissing frogs might be your ticket to success as it has been for Kamen.

Bill Gates Talks About the Importance of Knowledge in Business

Are you trying to establish credibility in your field? How did Bill Gates do it when he was starting out? Alex Banayan interviewed successful people from a wide range of fields to discover what insights, tricks, and motivations helped them find success. He chose interviewees who started out as unknowns and, thus, lacked credibility. One of these is Bill Gates, who shared how he got people to invest in him. Continue reading to learn what Bill Gates has to say about the importance of knowledge in business, especially as you seek to build credibility.

Scaling Strategies: 4 Ways to Help Your Idea or Business Succeed

Have you ever had an idea with the potential to change your organization, your city, or even the world? How can you give it the best chance to succeed? In The Voltage Effect, economist and professor John A. List offers his advice for how to take things from the small scale to the big stage. Whether you’re an entrepreneur, an activist, or anyone else with a brilliant idea, you can make use of his scaling strategies. Keep reading to find out how to help your idea succeed over time.

How to Understand Your Target Audience & Maintain Momentum

Is your target audience scalable? How can you make sure that it is? Just because your initial audience loves your idea, it doesn’t mean that a larger audience will feel the same way. John A. List provides advice on how to understand your target audience initially and as you grow so that you don’t lose momentum over time. Keep reading to learn how to scale your target audience.

The 4 Common Business Mistakes Executives Make

What are the most common business mistakes executives make? How can you avoid these mistakes to achieve success? Some mistakes and misconceptions are common enough that Keith Cunningham’s book The Road Less Stupid takes the time to discuss them particularly. Note that, as used by Cunningham, the word “stupid” refers specifically to things that you do or accept even though you are smart enough to know better. Below we’ll examine these mistakes so you’ll be able to spot and avoid them.

How to Build a Customer-Focused Company & Stand Out

How to Get Customers and Grow Your Business

Why is it important to focus on customers in business? How can you differentiate from your competitors in the market? Your customers should be the main focus of your company. They’re the people giving you profit, so you should cater to their needs. That being said, you should also find your niche that shows your customers you stand out from competitors. Here’s why you need to focus on creating a customer-focused company that values relationships with consumers.

How to Avoid Mistakes at Work: Take Thinking Sessions

Are you a leader that people depend on? How can you avoid mistakes at work? Mistakes are bound to happen in the workplace, but the great thing is that you can learn from them. Keith Cunningham’s book The Road Less Stupid says that you’ll be able to avoid making the same mistakes twice if you take the time to think about your decisions before making them. Continue reading to learn how to avoid mistakes at work.

The Top 4 Problem-Solving Tools to Keep Under Your Belt

Are you trying to find a solution to a dire issue? What are the best problem-solving tools to use? Problem-solving is something you do every day, whether you notice it or not. Whether you have a broken coffee machine or you’re trying to beat out the competition in the market, there’s always an issue in need of fixing. We’ll first look at the five steps to problem-solving and then explore problem-solving tools to make the process easier.