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Q. What one tip do you have for entrepreneurs in the “naming” stage of launching a startup? Kenneth N., Detroit, MI The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC promotes entrepreneurship as a solution to unemployment and underemployment and provides entrepreneurs with access to tools, mentorship, and resources that support each stage of their business’s development and growth. A. Make It Phonetic
“Keep It Simple, Stupid!” aka K.I.S.S., is always easier said than done. Recipes and formulas for simplicity found in books and on blogs are almost as popular as fad diets. There’s a reason for that: everyone is searching for a way to be a little more effective and efficient in their business, work and life. But so much of the advice that’s given is based on personal opinion, rather than wide-ranging, proven success in a business setting. And so much of it fails for the same reason diets do: lack of discipline.
As a blogger, I get a lot of bad PR pitches. I usually ignore them or write a snarky note to the publicist. But a pitch I got today struck a chord with me and I bet it will do the same to a lot of creative people. The pitch began: "This application cost us $0 to develop and $0 in advertising costs, and it got 70 million page visits in 2011 in a two-month period." "There is no such thing as 'development costs = $0, advertising costs = $0'", I responded. "A developer friend did it for us," she said.
Look at the news these days from the most dynamic sector of the U.S. economy — Silicon Valley. Facebook is now valued near $100 billion, Twitter at $8 billion, Groupon at $30 billion, Zynga at $20 billion and LinkedIn at $8 billion. These are the fastest-growing Internet/social networking companies in the world, and here’s what’s scary: You could easily fit all their employees together into the 20,000 seats in Madison Square Garden, and still have room for grandma. They just don’t employ a lot of people, relative to their valuations, and while they’re all hiring today, they are largely looking for talented engineers. Indeed, what is most striking when you talk to employers today is how many of them have used the pressure of the recession to become even more productive by deploying more automation technologies, software, outsourcing, robotics — anything they can use to make better products with reduced head count and health care and pension liabilities. That is not going to change.
Bill Clark is the CEO of MicroAngel Capital Partners , a venture firm that gives more investors access to alternative investments. He also gives investors the ability to invest in startups online through crowdfunding. You can follow him on Twitter @austinbillc . Most people understand that a high percentage of startups never make it. So what if you could give yourself a leg up on the competition?
In today’s publishing world, it’s not enough to have a “good” idea – those just don’t sell. Your book idea has to be GREAT … so great that it breaks through the noise to entertain, teach, and even change lives. Ideas need to stand out to be noticed .
Today saw the Silicon Valley Comes To Tech City event take place in London. As part of a wider initiative called Silicon Valley Comes To The UK , organized by LinkedIn co-founder Reid Hoffman and angel investor Sherry Coutu, it was designed to give existing and future entrepreneurs advice to help them build Britain’s next generation of tech businesses. Among the discussions and interviews in the program was the session on product design, featuring IDEO ‘s Tom Hulme, Adam Nash and DJ Patil of VC firm Greylock Partners , and Last.fm ‘s Matthew Hawn. The panel had some fascinating insights into the importance of design to a product’s success. The bar has risen – users expect great design Adam Nash talked about how there’s been a resurgence in appreciation of design in consumer products.
With a plethora of low-cost and even free tools available to develop and host online services and launch mobile apps, the barrier to entry for building a technology startup has dropped significantly in recent years. While just about anyone can launch their own tech business now, the challenge of honing a unique business idea remains as tough as ever. Here are 8 online resources for finding and refining tech startup ideas and even finding co-founders to go into business with. Sprouter Designed as a place for entrepreneurs to get quality advice, Sprouter is devoted to finding useful answers to serious business questions.