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Tag Archives: entrepreneurship

Becoming an Industry Disruptor: What We Can Learn from Transportation Startups [Infographic]

The following content was submitted on behalf of The Zebra.

There are words and phrases that float around the business world that just seem to catch fire. Suddenly, you seem to see them everywhere. For a period of time it was “out-of-the-box thinking” and then “paradigm shifts.” Later we saw everyone talking about “leverage” and more recently: “agility.”

But one of the newest and most exciting buzzwords in industry today is “disruptor.” Now startups and entrepreneurs all over the globe are using this term in their pitches and elevator speeches to give investors something to be excited about. But what does it actually mean to disrupt an industry and why is it so desirable? Clearly, the most profitable part of disruption is that there is already an established customer-base for your innovation – but what else does this concept offer?

Below we see the answer through the lens of transportation startups and how they are working within their established industry to leverage their own agile companies toward paradigm shifts by using out of the box thinking.

Taking a look, we can see how ride-share companies like Uber are less rogue than you might think, and how traditional car manufacturers, whom one would think likely tend to stand strong against any outside innovation, are actually investing heavily in them. This might reflect the idea that while a new disruptive idea should be prepared to expect pushback from established companies, any idea that is truly worthwhile will get those same industry leaders on board.

Another good lesson that can be gleaned from transportation disruptors is how to establish the right angle. Looking for specific pain points like cost (in the case of new cars) or convenience (in the case of traditional taxi services) has given ridesharing services a leg up. What are the difficulties your targeted consumers face?

Below, check out all the facets of disruption that you can learn through interfacing with transportation startups. Maybe YOUR next word will be the one that everyone is using in their pitches.

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How to Grow Your Business With Calculated Risk-Taking [Infographic]

The following content was submitted on behalf of Valpak.

Any major business move requires taking a risk. Whether you leave your corporate job to pursue a passion project, launch a new product, or partner with a new company, it can be daunting to make a drastic change. Thankfully, there’s a helpful strategy to weigh the potential outcome before taking the leap.

Calculated risk-taking involves carefully considering the pros and cons of a decision, with a thoughtful plan behind it. There are helpful steps, tools, and tactics you can use break down the outcome into smaller digestible steps. Make a list of everything that could go south if you move forward with the decision, whether it’s related to your business finances, relationships, self-care, or time. Schedule regular check-ins as you work towards a goal to see what kind of progress you’re making. The more you understand all potential costs to that risk, the better you can improve its outcome.

For a helpful breakdown on calculated risks, view the visual from Valpak below. It covers steps to follow so you can anticipate red flags and successful company who have used this method. Read more of this post

12 Tips to Raise Your Rates [Infographic]

The following content was submitted on behalf of Valpak.

A crucial step that all business owners and entrepreneurs need to take, at some point, as they grow is a business price increase. As your service or product improves, so does its value. It’s helpful to perform research into your competitors and industry before you make a jump. Is the increase justifiable? More often than not, a price increase will spark some conversation and uproar among your users or customers.

While you can’t control how your customers react, you can take the necessary steps to avoid push back. Be honest and transparent. Communicate the change with your customer’s needs in mind by clarifying the added value or benefits for them. You may be surprised with how consumers will be willing to pay a little bit more for a much better result or added value. For more specifics, Valpak breaks down twelve actionable steps to raise your prices and how to handle an upset customer as a result in their infographic below. Read more of this post

Special Feature: Protecting Intellectual Property: An Easy Guide for Startups

Written by Todd Baker

Edited by Lynn Patra

This article was originally published on UpCounsel.

 

What Is Intellectual Property?

Intellectual property (IP) is a general term for the rights recognized by Nigerian law for creations of the mind, including:

  • Patents – rights granted to inventors for novel and useful inventions.
  • Trademarks – rights granted to businesses relating to the branding of their goods and services (company, product and service names).
  • Copyrights – rights granted to authors for tangible expressions of ideas (art, literature, music, software code, architectural plans).
  • Trade secrets – rights granted to businesses relating to their unique and valuable intangible assets (business processes, client and customer lists, procedures, practices, formulae, research notes, market data).

Types of Patents

There are three types of patents that every startup should be aware of: Read more of this post

Top Business Management Models for Effective Management [Infographic]

The following infographic, submitted by Circa Interactive, summarizes elements of effective business management models. In terms of change management, for instance, check out what this infographic says about growth and change, the role of company culture, and barriers to change. This is followed by an informative overview of change management programs.

Via Graduatedegrees.online.njit.edu:

To run successful businesses, entrepreneurs must adopt new management strategies that promote staff retention, revenue generation, and workplace culture. This is in addition to exhorting rank-and-file staff to support change programs. Failing to do so can be costly for a business.

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A Personal Note & Sober View of Online Business Headaches: Reputation Management & Cybersecurity

The benefits of online businesses have always been clear to me (e.g., the freedom and flexibility, the broad reach to potential faraway customers, etc.). However, recently I noted some massive issues online business owners face – reputation management and cybersecurity.

Internet mobs can destroy someone’s livelihood for years, and an unpopular or misconstrued Tweet (along with bad luck perhaps) can spark their wrath. Such missteps are related to innumerable topics – too many to list. So, I’ll visit the issue of bringing up politics in professional communications for business owners (but much applies to job seekers and employees alike) as I’ve previously discussed it from another angle.

Reputation management: Politics

Business owners must be wary of expressing political views in ways that don’t mesh with their customer base. I don’t know how often cases like this happen but one of my survey respondents wrote that merely unveiling your political affiliation can alienate customers: Read more of this post

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