No one ever said it was easy being an entrepreneur. Whether you're in the early stages of your statrup, just secured funding for your startup or you are ready for product launch, there will always be those three components when you ask yourself if this whole entrepreneur thing is worth it. Instead of giving up and throwing-in the proverbial white towel, this forum will help in giving you all the motivation you need to achieve your result.
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How to set up a profitable business in 21st century
The subtitle to the
new bible for holacrats, written by Brian Robertson, pretty much summarises the
concept; “the revolutionary management system that abolishes hierarchy”. Put
very simply, in a holacracy, tasks are performed by self-governing and interlinking
teams, without reference to line managers and executives.
Zappos’ adoption of the approach has
stimulated a lot of discussion. Is such a radical move simply faddish,
off-the-planet silliness, or are we entering a new era of
extreme autonomy for staff? It’s a debate, however, that misses much of the
The rise of
The question is not whether
holacracy is too radical but whether it is radical enough. Robertson wants to
empower staff to generate change without needing to get permission to do so.
But this principle of empowerment is increasingly being applied across the
whole gamut of organisational relationships, not just the employer-employee
link. Some of the most successful organisations now work with models that treat
customers, suppliers, investors or even competitors as changemakers deserving
of empowerment. Giving staff autonomy is a very important part of this shift,
but it is only one part.
Witness, for example, the way social media companies such as Facebook,
Twitter and YouTube have grown exponentially in the last few years,
by empowering their users to generate and share their own films, photos,
articles, music and messages with audiences across the world.
The burgeoning online
investment world, led by firms such as Crowdcube,
are empowering large numbers to invest who might otherwise have just kept the
money in a bank account. More exclusive firms like Fundersclub are making it easier for
established investors to choose where their money goes and how it is used.
This has created a far more complex and fast-moving world of smaller
players. The result, is that competitors increasingly seek to empower rather
than destroy each other, recognising that it takes collaboration as much as
competition to survive in such a challenging world.
Sellers on Etsy for
example, regularly work together offline to educate one another and launch
joint initiatives to grow their businesses.
Even the lumbering giants of the corporate
world are increasingly providing the space, support and funds to encourage the
very start-ups that might one day disrupt their markets. Telefonica’s backing
for technology accelerator Wayra is
a case in point – as is the rapid growth of the corporate
venturing trend in recent years, with big businesses now
supporting small business investments totalling $26 billion
From products to tools
cynics who dismiss holacracy and these other instances of empowerment as a fad
or oversold, ignore two important factors;
this is hardly a new trend. There is now a wealth of
academic evidence showing that the desire for self-expression,
autonomy and choice, has been growing in intensity in the advanced economies
since the 1960s.
That fundamental social trend has been
transforming the offer to consumers for fifty years. We have moved from
standardised commodities in the post-war period. To greater consumer choice in
the 70s and 80s, to ‘open
innovation’ in the noughties and then to today, where
‘customers’ generate their own products to suit their very specific needs or to
distribute to others. In each case, the shift has been an intensification of
consumer power and control.
technology that makes these business models possible is now reaching into new
largely untouched sectors. The combination of networked
technologyand artificial intelligence is likely to empower customers
in new fields such as manufacturing, energy generation and finance.
The overarching outcome is a progressive shift away from producer models
that create products or services to sell to customers, towards changemaker
models that create tools that empower customers to generate those products or
services for themselves.
a Changemaker organisation
Sooner or later, firms that
place this empowerment principle at the heart of everything they do will
emerge. Rather than just empowering customers or giving staff full autonomy,
they will seek to unleash the creativity of everyone they work with.
These ‘everyone-a-changemaker organisations’ will secure their investment
from tens of thousands of small backers and they will provide a platform for
suppliers to sell directly to customers. These customers will be buying an
empowering tool that gives them much greater choice and control and staff will
be free to make rapid, creative decisions to respond to a highly fluid and
complex market. Oh, and these enterprises are just as likely to be
collaborating with the other players in their market as competing with them.
confectionary firm of the future. It crowdfunds $500,000 in equity to launch a
website which makes it easy for artisan chocolatiers to write downloadable
designs. They can then sell to customers who 3D print their own personalised
collections of chocolates. The firm grows rapidly, attracting thousands of
sellers, and soon has millions of customers.
different national cultures demand very different types of chocolate – and
those tastes are shifting all the time, as sweet-toothed consumers come to
enjoy the freedom to print out new and interesting concoctions. So our firm has
no choice but to empower its staff to make their own decisions about what will
work in the wide variety of different niche markets. The chocolatiers are also
soon working together in groups to pool skills and ideas to keep up with those
shifting consumer demands – although there is still a clear competitive edge
behind the collaboration. Before long, our everyone-a-changemaker chocolate
company goes back to the crowdfunding sites for growth capital. Old firms still
packing treats into cardboard boxes wonder why sales are starting to dip.
Of course, in what sectors these everyone-a-changemaker firms will really
emerge in, and what they will offer to their users, is impossible to predict
but they will emerge. Chances are the start-ups are already launched.
Incumbents take note. Even those that are embracing elements of the
changemaking model should know that something much more radical is around the
Twenty percent of small businesses fail within their first year. Entrepreneurship is no walk in the park. In fact, the amount of new businesses that fail exceed the number that succeed. That’s why it’s more important than ever to create a unique product or service that helps you stand out from the rest.
However, don’t be discouraged. If you believe in your business, passion will prevail. On average, 75 percent of small-business owners are confident in their company. And why shouldn’t they be? They’ve turned their passion into profit. Yet, keep in mind it’s important not to be overly confident. Instead, take things one step at a time. Typically, 20 percent of small businesses fail in their first year, 50 percent in their fifth year and 70 percent after a decade of being in business.
A number of factors play into a business’s closing, such as location, the current market, cash flow and more. The number of reason most small businesses fail is due to cash flow, and California cities such …
Mark Elliot Zuckerberg is an American computer
programmer and Internet entrepreneur. He is a co-founder of Facebook, and is currently its chairman and chief
executive officer. Zuckerberg
launched Facebook from his Harvard
University dormitory room on February 4, 2004 with college
roommates and fellow Harvard students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. The group then introduced Facebook to other college
campuses. Facebook expanded rapidly, reaching one billion users by 2012. During
this time, Zuckerberg became involved in various legal disputes brought by his
friends and cofounders, who claimed they were due a share of the company based
upon their involvement during its development phase. Early
Life Mark Elliot Zuckerberg was born on May 14, 1984, and
grew up in the suburbs of New York, Dobbs Ferry. He was the second of four
children and the only son in the educated family. Mark’s father, Edward
Zuckerberg, is a dentist and mother, Karen Zuckerberg, is …
Étienne Arnault was born on the 5th of March 1949. He is a
French business magnate, an investor, and an art collector. Arnault is
the chairman and Chief Executive Officer (CEO) of LVMH, the world's largest
luxury-goods company. He is the richest person in France and the fourth richest
person in the world according to Forbes magazine,
with a net worth of $75.5 billion, as of March 2018. EARLY LIFE After graduation, Arnault joined his father's company,
in 1971. In 1976, he convinced his father to liquidate the construction
division of the company for 40 million French francs and to change the focus of the company to real estate.
Using the name Férinel, the new company developed a specialty in holiday
accommodation. Named the Director of Company Development in 1974, he
became the CEO in 1977. In 1979, he succeeded his father as president of the
company. CAREER In 1984, with the help of Antoine Bernheim, a senior
partner of Lazard Frères, Arnault acquired the Financière A…
Gates is an American business magnate, who co-founded Microsoft, the world’s
largest personal computer software company. He consistently rank in the top
list of the world wealthiest people, he is one of the world best known
entrepreneur of the personal computer revolution. He is also the world most
generous philanthropist, who has donated over $28 billion to charity. Here are
his top 10 rules for success. 1.Have
you are going to start a company you need so much energy that you use to
overcome your feeling of risk. At the beginning it’s going to look so scary
especially given that you don’t have any experience as in the case for most
startups, you are going to make a lot of mistakes but if you have so much
energy rushing through you, you will be able to overcome your mistakes and that
of your team, you will also be able to guide your team into achieving the
desired result because energy is contagious. 2. Have
a Bad Experience: Bill
Gates is a college dropout who d…
We were just about to start our meeting on what next to post when one of our colleague came in with Forefront magazine and showed us this very inspiring story about overcoming problems in life. Here is the content of the story.
As hard as it may be, more problems might actually mean a
closer window of opportunity. There is a saying that every single thing happens
for a reason and whatever does not kill us makes us stronger. A story by Alijo Sylvester.
The story goes like this: A young woman went to meet her mom to tell her about her life
and how things are so hard for her. She was about giving up and had no idea how
she was going to make it. She was fed up of fighting and struggling. She complained
of how after a problem, straight comes another one. Her mom called her to the kitchen. She filled three pots with
water and put them on fire. The first pot, she placed carrot, the second she
placed egg and the third she placed ground coffee bean. She let them boil without saying a word. In abou…