The Key to Business Success
What makes some businesses succeed while others fail? This is an ever sought question that is like trying to find the fountain of youth. There is no one single answer that helps us determines what makes a business succeed, while a very similar business may fail, however we can learn from the trends that have created success for many of today's leading companies.
Think of Something Better, Not New
The most successful firms in the world didn't succeed from creating something new, they did it by focusing on making what already existed better. It is rare to invent something completely new. Most innovations are built off of something that already exists, but offers a better value proposition that what already existed. Focusing on making things better and not create the 'new' will help you and you firm focus on a winning strategy.
Future Prospects for Service Industry
The service industry scene has witnessed growth progressively thanks to the stimulation effect brought about by several factors. Some of these include decreased government interference, the introduction of new technologies, an increased supply of service providers and the subsequent competition that this has brought. What does the future hold for the service industry?
The Ultimate Business Idea
The wrong way to go about thinking of a business idea is to try to come up with the 'Ultimate Business' idea. Firms are built by focusing on creating something better from what exists today and changing your mentality to focus on how you can make something better will help you in your search for a business idea that you can execute.
Billion Dollar Business Idea
Would be entrepreneurs often hesitate to take the leap to launch their own business because they fear their business idea is not a billion dollar idea. Most businesses that launch and are successful aren't billion dollar business idea. Entrepreneurs need to understand that a billion dollar business is the exception, not the norm and they should not let a niche business stop them from starting.
A Structured Approach to Brainstorming
Brainstorming is crucial to start-ups. This is your tool to get all the brains in the organization contributing to the solution of an issue. Traditional brainstorming has its own inefficiencies, such as delays and deadlocks. Structured approaches like Edward de Bono's Six Thinking Hats can help eliminate these problems with brainstorming sessions.
Turning Your Blog Into a Business
Blogging has quickly become one of the mainstream activities that individuals and businesses alike participate in. It has allowed everyone to communicate their individual ideas and beliefs; something that prior to blogging was difficult to do effectively and efficiently. But blogging can be much more than a hobby and many bloggers have made blogging their full-time job.
Business Names and Mistakes
Naming a business is like laying a building's cornerstone. Once it is in place, the entire structure and foundation is aligned to it. If the cornerstone is off, the whole building is off and the problem becomes magnified. Which are the common mistakes you should avoid when naming or renaming your business?