Seeing others' success can be extremely helpful for emerging entrepreneurs and hopeful dreamers. Each of the featured start-ups in this contemporary series highlights the thought process and unique business model of a successful entrepreneur. Together each unique entrepreneurial approach, when added to the rest, offers a top down view of what it takes to create and succeed when starting a business.
Titles include:
Create A Circle Of Products: FiftyThree Designing a circle of products can help to assure the long-term success of a business, especially when the products complement each other. Satisfied customers for the first product will be the best customers for the next, so think in terms of multiple products to strategically grow a better business.
Start A Parallel Business: AirBnB Here is the story, first hand from the founders of AirBnB who created a parallel business and became a world leader in travel rentals. With more than 10 million nights booked worldwide their unique approach offers interesting insight to anyone thinking of how to build a business.
Block Options To Failure: Brooklyn Brewery Steve Hindy’s fellow journalists thought he had lost his mind when he left his job to start Brooklyn Brewery, now the ninth largest craft beer maker in the country. As he tells it, in order to succeed he first had to block all the options available that would allow him to fail.
Spot Trends: GustOrganics The ability to recognize and spot trends early makes it easier for a new business to become a recognized leader in the industry. But being first also means a greater percent of trial and error will likely occur. It's important when considering any trend setting business to take into account all facets of the competitive market, especially if the goal is to build a business that is the very best of the best.
Solve Problems By Necessity: Hickies Now here are some real entrepreneurs. Believing in the worth of their idea, an elastic shoe lacing system, but constantly faced with almost insurmountable obstacles, they still found a way. These problem solving individuals persevered against all odds, knowing it was necessary if they were ever going to succeed.
Circumvent Tradition: Indiegogo IndieGogo was created by founders who reasoned that the traditional approach to seeking capital was not meeting the needs of many who sought it. By circumventing the established approach to raising funds they succeeded in creating a crowd-funding site where anyone could raise money for any reason at any time.
Acquire, Build, Expand: Magnolia Bakery A business doesn't always have to begin with an idea, it's equally possible to acquire a going concern, build up the reputation, and then look to expand. That's how Magnolia Bakery was able to begin its 5-year plan for 120 new locations worldwide.
Create A Brand: Nooka If creating a product to be noticed is a goal, then consider creating a brand. Successful brands stand out due to creative design, product quality, or a unique ability for meeting a need. For building a better business, establishing a recognized brand is one of the surest ways to go.
Become A Source: Quirky Founded in 2009, Quirky has become a unique collaborative of products created by a talented community of inventors and product designers. Today, Quirky has firmly established itself as a source for launching game-changing products.
Move Concepts To Reality: Snaps If it's possible to imagine something that would meet a certain need try to also determine if there is the possibility to move the concept to reality. Visualizing how something abstract can become real takes creativity and some knowledge but the ability to do so will lead to building a better business.
Evolve As You Go: Uhuru Sometimes when a business begins it's different than what it eventually will grow into later. Evolving as you go is a solid strategy for building a better business and allows for the business to meet demand while quickly responding to new opportunities.
Build A Better Business in Layers: VisionSpring This award winning social enterprise has ultimately succeeded by realizing that their original vision, to provide eyeglasses to those in need, could best be accomplished by building upon the original vision using a multi-layered approach. |