7. Watch for Decision Making Biases The human brain uses unconscious routines or 'heuristics' to help cope with complexities of decisions. Many of these are invisible, so understanding them and compensating for them is important. Some of these biases include groupthink, anchoring, sunk cost traps and confirming evidence. #entrepreneur #startingabusiness #groupthink
I just returned from Web 2.0 Expo in San Francisco. I heard several talks on social media strategies. One excellent presentation from an executive at LinkedIn discussed suggestions for creating a social network. The most successful social networks start with a simple concept--one or two activities in which members can participate. For example, Flickr--posting or viewing pictures, UTube--posting or viewing videos, Facebook--posting pictures, LinkedIn--connecting to other peopl
I've head this concept many times, so it seems like a good time to repeat it. The recession is forcing consumers and companies around the world to cut back. Despite this, it may be a good time to actually start a company. Businesses started during recession are often poised to be successful just as the economy is turning around. By getting through the tough early stages--business plan, financing, product development, marketing, developing a sales channel during tough economic
4. Become Your Best Sales Person My dad was not a typical sales person. He wasn’t slick or showy. But he got his training in sales at IBM in the 1960's. Even as CEO, he did the majority of the sales for the product. Even if you hire sales people, you will be called upon to close sales or do public relations for your company. #sales #customers #startingabusiness #entrepreneur
1-800-GOT-JUNK is a great name for a business that wants people to remember it. It leverages the old 'Got Milk?' campaign, and ads a 1-800 kicker. It tells you what they do and where to call. Seeing their trucks driving around town reinforces the brand. I recently needed some junk hauled and of course looked them up. However, their pricing seemed very high. With a little research, I found a local vendor, Oregon Hauling, that provided the same service for 1/2 to 2/3 the price.