Almost every business that is started copies the businesses it competes with. Everyone copies each other. It’s how it goes. They compete on business models and best practices. But, it doesn’t have to be this way.
Tag Archives: entrepreneurship
Unlock Employee Insights: 6 Questions That Spark Improvement
How often do you ask employees how the business could be improved? I’m still surprised how asking employees for ideas isn’t standard practice in most businesses. I’m not talking about setting up an idea/suggestion box; it’s not enough. I’m talking about seeking out people’s ideas.
Start With The Customer Problem, Not The Technology
Generative AI is still looking for its killer app. Sure, there is a niche number of people getting great results using LLMs for work and other activities to be more efficient and productive. Still, most of the existing generative AI solutions out there are hunting for a problem to solve.
How to Develop Situational Awareness And Sharpen Your Strategic Thinking
Most business leaders operate with a very limited view of what’s happening in the world beyond what they know, much less how it impacts their business. It’s one of the reasons why most businesses react to change rather than exploit it. What I’m talking about is having situational awareness and good business acumen.
Being First Doesn’t Matter, Being Better Does
Innovation is messy. There’s nothing predictable about it. I’ve been too early three times in my time as an entrepreneur. Either the market wasn’t ready, the technology needed to evolve more, or the market didn’t exist. Underpinning all three scenarios was timing. When I had my affective computing startup, Netek, I remember telling my team that we were too early and we might not make it because of it.
Bet On Inevitable Trends
Whether you’re doing more of the same, innovating incrementally or radically, there are no safe bets when it comes to entrepreneurship. It’s easy to follow along and just do what others are doing because you don’t want to stay behind. But remember one thing: Innovators are the early adapters.
Leadership: It Starts With You
“It was her fault”, said the Head of Planning for a mid-size manufacturing company I consulted for. The company was not meeting output results and one of the owners took a deep dive to find out why and found there was an unaccounted-for product that was missing from the planner’s reports.