To successfully turn an entrepreneurial endeavor into a stable business, leaders must leverage their networks to fill critical skills gaps as the business evolves. Move from starters to transformers to sustainers.
Can you use Facebook? Then you can work for CloudFactory Ltd., a company located half a world away in Kathmandu that may soon find itself in the unlikely role of one of Nepal's biggest private employers.
To be successful today, emerging start-ups must find a niche. They have to solve a very specific consumer need and add tangible value to their customers' lives -- in as social and engaging a fashion as possible.
Failing fast is one of those ideas that seems like a great thing -- for others to do. No one likes to fail, but if you're going to fail, do it fast: 1) talk to customers, 2) test and 3) make early sales.
The founders started discussing the idea in mid-2010, incorporated Babiators LLC in the fall of 2010 and officially launched the product in May 2011. Today, Babiators can found in more than 250 stores and 15 countries worldwide.
Making bibliographies used to be an gnarly battle involving ye olde card catalogue, thick citation manuals and reams of paper, but it is now an easy type-and-cite kind of deal thanks to online startup Easybib.
I would argue that what we're seeing isn't a bubble per se, but rather a natural and very necessary trial-and-error process, where everyone -- entrepreneurs, fashion industry executives, investors -- is learning what works and what doesn't.
It may not seem so smart to start a business in a down economy, but I'm in the school of thought that says the time is never perfect, but action overcomes obstacles. Getting your great idea out of your head and into reality is one of life's most satisfying experiences.
There's a value shift in America right now. And it's one of the gifts of the Great Recession. We want to work with our values front and center. So what can start ups learn from the not-for-profit world?