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Oocorp: Entrepreneurs: Most startups fail. But many of those failures are preventable.  The Lean Startup is a new approach being adopted across the globe, changi...

Entrepreneurs

Most startups fail. But many of those failures are preventable.  The Lean Startup is a new approach being adopted across the globe, changing the way companies are built and new products are launched. 
Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business. 

The Lean Startup has a kind of inexorable logic, and Ries’ recommendations come as a bracing slap in the face to would-be tech moguls: Test your ideas before you bet the bank on them. Don’t listen to what focus groups say; watch what your customers do. Start with a modest offering and build on the aspects of it that prove valuable. Expect to get it wrong, and stay flexible (and solvent) enough to try again and again until you get it right. It’s a message that rings true to grizzled startup vets who got burned in the Great Bubble and to young filmgoers who left The Social Network with visions of young Zuckerberg dancing in their heads. It resonates with Web entrepreneurs blessed with worldwide reach and open source code. It’s the perfect philosophy for an era of limited resources, when the noun optimism is necessarily preceded by the adjective cautious. Click Here For The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses

What if you could sit down with some of the world's most influential entrepreneurs and gain their knowledge and insights on how to create a game changing business?

Imagine having the chance to listen to a John Mackey (Whole Foods) or a Fred Smith (FedEx) on the most important things they've learned from their experiences. Or having the benefit of the self-reflection of Howard Schultz of Starbucks, who had to come back to the company he originally built to reinvent it and himself? Of course it's not possible to deliver these rock star entrepreneurs to your dinner table. But John A. Byrne offers the next best thing: he spoke with many who have changed the face of business. In World Changers he captures the most important lessons they've learned, the biggest challenges they've tackled, and the most valuable advice they can offer others who have an entrepreneurial dream. Check Out The World Changers: 25 Entrepreneurs Who Changed Business as We Knew It

To achieve unimaginable business success and financial wealth—to reach the upper echelons of entrepreneurs, where you’ll find Mark Zuckerberg of Facebook, Sara Blakely of Spanx, Mark Pincus of Zynga, Kevin Plank of Under Armour, and many others—you have to change the way you think. In other words, you must develop the Entrepreneur Mind, a way of thinking that comes from learning the vital lessons of the best entrepreneurs. 

In a praiseworthy effort to distill some of the most important lessons of entrepreneurship, Kevin D. Johnson, president of multimillion-dollar company Johnson Media Inc. and a serial entrepreneur for several years, shares the essential beliefs, characteristics, and habits of elite entrepreneurs. Through the conviction of his own personal experiences, which include a life-changing visit to Harvard Business School, and the compelling stories of modern-day business tycoons, Johnson transforms an oftentimes complex topic into a lucid and accessible one. Read The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs



Dr. Kanth Miriyala used to work as a full-time business consultant for an MNC. He realized that due to the hectic job schedule, his health and his relationships were suffering. His two year old son would refuse to talk to him on weekends as Kanth's hectic job schedule left him with little time to spend with the family during the weekdays. And when he looked at his bank balance; it did not look great either. That's when he realized that he was just exchanging time for money. He started to seriously consider being an entrepreneur by building a startup but did not want to risk quitting his job.

His realization took him on an interesting journey of discovering what it takes to be an entrepreneur - figuring out where to start, experimenting, making mistakes, learning, expanding network, and building startups in different areas of passion while he was still working on his 9 to 5 job. Some of his ventures as an entrepreneur failed and some succeeded. He was one of the founders of Quintant which was sold to iGATE for 87 crores. He was an investor in Qik, a mobile video streaming company which was sold to Skype for $150 million. Read Entrepreneur 5 pm to 9 am to realize your dream of being an entrepreneur even if you have a full-time job! Click Here Entrepreneur 5 pm to 9 am - Launching a Profitable Startup without Quitting your Job

Online Business

The Internet is a great promotional vehicle, research tool, and communication channel for connecting with clients and customers. What is the purpose of your site? Do you want to sell products? Are you looking to find new customers? Are you trying to provide information for existing customers? Do you want an online brochure, or something more complex? Think about what you're trying to accomplish via the Web and look for ways to reach that goal. Review your business plan and your marketing plan to make sure that your Web efforts accurately reflect your company's vision and image. 

If you want to succeed as an online merchant you have to understand where your products fit within the competitive landscape and be clear about your online sales objectives. In addition, you need to know how to reach your virtual customers and how to meet their needs. Ask yourself the following five questions to start your journey to selling online.

Will my product or service work online?

Not every product lends itself to e-commerce. The items that tend to generate the greatest revenue are commodity consumer products (such as books, CDs, or videos), technology products (computers and software), and hard-to-find products or those with a highly specialized audience (rare coins, specialized craft supplies, regional/gourmet foods, or collectibles, for example). As a rule, if a product sells well through a catalog or other direct channels, it can be promoted on the Web.

Before you take the online plunge, be sure to analyze the competition carefully. If your product is already being sold by a large online competitor, you may have trouble generating profits through your site. Instead, focus your efforts on a specialized niche. For example, if you run a small bookstore, your online competitors would be giants Amazon.com and Barnes and Noble. If you market your site as the premier resource for children's books, or better yet, children's picture books, you may be able to generate more sales.

What role will my site play in my overall sales strategy?

Before you begin executing your site, consider exactly what you'd like to accomplish through e-commerce. Will the Web be your primary sales vehicle or will it be a way to supplement your existing revenues? This will help you shape the content of your site and may also guide decisions about site location, product selection, payment and order processing. Take the time to put together a plan of execution that addresses not only your goals for taking your business online, but also financial assumptions, challenges and concerns. This document will help to ensure that your investment in Web commerce pays off.

What features and information should I include on my site?

When designing your site's content, consider the type of information your buyers will require before they purchase. Take a look at e-commerce URLs that you admire and dislike. Chances are you'll find some common threads among the good sites. The graphics will most likely be clean and relevant; they will download quickly; navigation will be well thought out; and the steps for ordering will be clearly outlined. You might also want to review your competitors' sites, as well as high-revenue sites that are unrelated to your business, to get ideas for your site's content and features. Analyzing these sites' sales messages, promotions and guarantees will give you a sense of how they encourage visitors to buy.

What is the best venue for my product?

The location of your virtual storefront is just as important as a traditional store's location. You'll need to decide if you want to set up your Web site as part of an online mall, or if you'd like your site to exist independent of other vendors. Online malls -- sites that rent out space to merchants who reside at the mall's URL - have not been nearly as successful as many had hoped. Specialty malls -- sites that offer products and services related to a particular theme such as golf or boating -- have proved better able to meet consumer demand for selection, speed, and convenience. Setting up an independent site will give you the greatest control over the operation and promotion, but also requires the most work. You will need to determine where the buyers are, design ways to reach them, and manage ordering and fulfillment.

How will I collect money from my Web sales?

To succeed online, it's essential to make it easy for your customers to pay you. Credit and charge cards are the most common solution. This requires you to set up a merchant account, or, if you already have merchant status, receive authorization to accept charges over the Internet.

Although online payment is convenient for both merchant and customer, some of your consumers may not currently feel comfortable ordering online. For these clients, offer toll-free phone ordering, fax ordering and a mail order option. For more information visit www.olayinkaoyelamicorporation.com

Internet

Symbolics.com was the first .com registered on March 15, 1985 for the "world wide web." Today there are over 80 million .Com websites and the domain is a prominent feature of the internet. The .Com domain has defined a generation of innovation and entrepreneurism, serving as the launch pad for a new generation of companies that have transformed communications, commerce, entertainment and more. Click here http://olayinkaoyelamicorporation.gnbo.com.ng/

The economic impact of .Com has been quantified in a study by the Information Technology and Innovation Foundation (ITIF). The ITIF found that the .Com domain serves as a platform for $400 billion in annual economic activity. .Com domain names drive more than $1.5 trillion in global annual economic activity, more than the global sales of medicine, investment in renewable energy, and government investment in R&D, combined. The ITIF estimates that the economic activity flowing across the .com infrastructure is likely to grow to $950 billion in annual revenue by 2020.



My young kids can’t fathom life without the internet. People above the age of 30 realize what a profound change the internet has had on human lives," said Jason Teichman, SVP, Marketing & Product Management. Did you know? The most popular words among .com URL's today include "home" (1.2 million), "online" (1 million) and "land" (891,000). The domain name system is used more than 1 trillion times per day... so in 1 second that is more than 20 million times. Click here http://olayinkaoyelamicorporation.gnbo.com.ng/

The most popular words among .com URL's today include "home" (1.2 million), "online" (1 million) and "land" (891,000).The domain name system is used more than 1 trillion times per day... so in 1 second that is more than 20 million times.Policy Impact Forum panelist and former FCC Chairman Reed Hundt said the .com domain has become a "common medium for humanity." This article is brought to you Register.com Learning Resource Center for their Register.com Affiliate Program.

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How to finance your business

How to find financing for your business

Learn about the pros and cons of various sources of funding for your start up

Whenever I'm at a party, entrepreneurs seem to find me. Once they find out I work for Register.com, they start telling me about their business idea. The next thing I know, they want my advice on where they can find the money they need to start their company.

I think many entrepreneurs jump too fast to the fundraising stage, so I usually ask them to consider a few items before they start this process. Those questions include:

How long can you live off your savings? I had a friend who started a small business with a decent amount in the bank. But he didn't realize it would be eight months with no dollars coming in at the beginning, and soon he was panicked. Many start ups aren't able to borrow enough to cover their expenses in the initial months, just enough to operate the business.

How in debt are you willing to go? This is a vital question to answer. Know your comfort level with being in debt, and how that squares with how much money it will take to start the business you have in mind. Some people might say, "I'm only willing to do $100,000." If so, what will you do if the business turns out to require more funding?

Have you estimated how much money you'll really need? Many new business owners plunge ahead without a clear sense of how much money they will need. They end up having to raise money repeatedly during their startup period, exhausting their energy and risking the business's future if they're unsuccesful in finding subsequent loans.
Once you have a clear idea of your appetite for debt and the amount you'll need to raise, it's time to consider your possible funding sources.

Sources of funding

Your retirement accounts. I'm not personally in favor of taking money out of your 401(k) account, but its something to think about. Under some circumstances, you can borrow this money out and repay it without penalty - consult a good tax professional to make sure the way you're doing it is best from a tax perspective. Advantages of this method: It's fast, little paperwork is required, nobody asks you how you plan to use the money, and rates can be low.

Liquidate assets. If you own a boat, vacation home, appreciated stock or other assets you could liquidate, consider using them to fund the business. Your business won't be burdened by interest payments if you can find the cash to start it from your own assets.

Friends and family. Often, a loan source may be close to hand - not just your family members and personal friends, but the people within their extended network. To give everyone a clear understanding of the loan terms and avoid bad feelings, write a contract and then carefully track payments - Web sites such as Virgin Money and ZimpleMoney make it easy to do online.

Peer loans. If your personal network fails you, try a peer-to-peer lending site such as Zopa.com. Peer sites check your credit, assign you a credit rating, and then let you make your case to their large networks of individual lenders. If enough lenders contribute to your loan to fund it, the site packages and administers the loan. Loans can take as little as two or three weeks to obtain here. On the downside, interest rates will likely be fairly high.

Microloans. If you need an amount under $35,000, consider a microfinance lender such as Kiva.org or Accion. They fund a lot of one-person businesses, and rates are usually fairly reasonable. On the downside, they may want to disburse the money in stages, not all at once.
Revolving line of credit. Rather than getting a loan with a set term and interest rate, it's sometimes easier to get a bank to give you a revolving line of credit. With this loan type, as you pay back money it becomes available for borrowing again.

SBA-guaranteed bank loans. Many new businesses get funding through bank loans guaranteed by the Small Business Administration. If you plan to approach bank loan officers, come prepared. Write a business plan and bring materials you need to illustrate your concept. Whether it's a PowerPoint presentation, a mock-up, or maybe a software demonstration, come prepared to demonstrate your idea to bankers. People think if they have good credit they can show up at the bank and get a business loan, but that isn’t the case. Banks need to know it's a real idea that can become a viable business.
Also know what the SBA guarantee means - it helps the lending bank if you don't repay the loan. It is not a guarantee that the SBA will cover your loan obligation if your business doesn’t succeed.
This article is brought to you Register.com Learning Resource Center for their Register.com Affiliate Program.

Leverage Your Business

The cost of doing business is on the rise. Small Business Owners (SMEs) are realizing that Internet Marketing is the most cost effective way to reach potential customers virally. Entrepreneurs from across the world are realizing the power of Social Media, they are Leveraging on Online Presence and Social media for businesses growth. Visit http://www.olayinkaoyelamicorporation.gnbo.com.ng for more information on how to leverage on digital technology to grow your business.

 Using BigCommerce anyone can quickly and easily create an online store to sell products online, process and ship orders, track inventory and completely customize the look and layout of their store in just a few minutes.  Try Big Commerce FREE for 15 days! See why it's the best way to sell online!