Don’t be Too Busy to Do Some Reflective Thinking

Startups and entrepreneurs are drowning in the information overload, where the volume of data created is like a new Library of Congress every 15 minutes. That creates a huge gap between data and meaning, and makes quick decisions and action ever more difficult. We all need to take a little more time to think

Original post:   Think big. Thing new. Think again. In other words, make sure your solution will scale up. Professional investors will tell you they look for business plans that can credibly project revenues of at least $20M within five years, or they won’t justify an investment. Don’t be Too Busy to Do Some Reflective Thinking Growing economy Economically, this country of 67 million people is characterized by steady growth, strong exports and a vibrant domestic consumer market. Abundant natural resources and a skilled and cost-effective work force help attract foreign investors, and enable them to prosper and develop industry in Thailand.
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10 Concrete Steps to Assure Business Innovation

Continuous innovation is required to survive in all businesses, beginning with a startup, and increasing in importance as your business matures. Technologists often insist that new things can’t be invented on a schedule, but successful companies seem to be able to do it on a regular basis. (more…)
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6 Key Attributes of a Winning Business Culture

I’m seeing a renewed appreciation of culture and values in business these days. Maybe it’s just another example of nature abhorring a vacuum, but I prefer to think it’s a natural evolution of the pervasive social networking communities, where people relate to and expect to interact with businesses and products they like. (more…)
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You Can’t Be the Victim as an Entrepreneur

People with a victim mentality should never be entrepreneurs. We all know the role of starting and running a business is unpredictable, and has a high risk of failure. For people with a victim mentality, this fear of failure alone will almost certainly make it a self-fulfilling prophecy. I’m sure you all know someone who is the perennial victim

Continue reading:  Manage risk. Without risk, there can be no innovation. Not every idea can, or will, be a winner. Fear of failure will kill innovation, but reckless disregard for risk will kill a business. The successful entrepreneur is able to find the balance between these two extremes. You Can’t Be the Victim as an Entrepreneur
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Thai Auto production to exceed 2.2 million units this year

The Federation of Thai Federations (FTI) projected Thailand’s automobile production will reach 2.2 million units this year, resulting from resumption of full capacity operations, FTI Automotive Industry Club spokesman Surapong Paisitpattanapong said on Thursday. (more…)
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Test Your Business Model Against These 10 Elements

You can’t succeed in business without an operational model that delivers value to customers at a reasonable price, with an underlying cost that allows you to make a profit. There are no “overrides” – for example, businesses don’t thrive just because they offer the latest technology, or because everyone wants to be “green, or because their goal is to reduce world hunger. (more…)
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Successful Startups Often Come With a High Price

Most entrepreneurs expect to face the “normal” challenges of starting a business, which include finding the right opportunity, building and executing a winning plan, and financing their venture. But many forget the pitfalls associated with traditional business jobs which can apply even to the smartest and most dedicated people running their own business. Often these facets of entrepreneurship don’t rear their ugly head until well down the road. (more…)
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Smart Entrepreneurs Plan Multiple Rollout Iterations

The traditional mode of starting a company is to plan a serial process, where you complete only once all the steps, leading to the “big bang” launch of the company. I strongly recommend a dramatic departure from this model, called “planned iteration,” where you assume you won’t get it right the first time. This idea was well articulated by Paul Graham in an old essay, called “Startups in 13 Sentences” in which he talked about “making a few people really happy rather than making a lot of people semi-happy.” One of his key points is that “launching teaches you what you should have been building,” and I agree. All you old software development types will recognize the analogy to the traditional two year “waterfall model” of software development, which has been totally replaced with the Agile iterative methodology

Link: Persist, persevere, prevail. Experts say the prime cause of failure in business is quitting too soon. The successful entrepreneur never gives up, and uses…
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How to Show Your Customers a Little Extra Love

I deal often with early-stage startups, and many of these don’t have any customers yet (but wish they did), so it’s not surprising they still don’t think of customers as their friends. More disturbingly, others do have customers, but the customer service program consists of an informal focus on “problems,” rather than a proactive effort to establish a positive relationship with friends. (more…)
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