A Collection of Business Insights that will help you think smarter, act wisely and sharpen your money making performance.

 

 

6 things to know before starting a business

 

An entrepreneur’s life can be a real roller coaster. Having started a few businesses in my career, I thought it would be useful to highlight some of the hard-won experience I’ve learned throughout the process — the kind of advice I wish I’d known when I started my first, or even second, business. 6 things you need to know here

 

Why Some Startups Succeed And Others Fail: 10 Fascinating Harvard Findings

 

Why do some startups succeed and others fail? Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein put together a Harvard Business School working paper to answer that question, Performance Persistence in Entrepreneurship.

In it, they answer things like:

After scouring the 35 page document, here are the fascinating answers to all of those questions and more.


 

 

10 business insights from the work of Michael Porter
Michael Porter has made an impact on the way people think about business and competition, but many managers don't really understand his work, writes Joan Magretta of Harvard Business School. She lists 10 insights she gained by working on a guide to help people get a better grasp on Porter's work. For example, businesspeople should remember that successful growth must lead to increased profits. "Competition is about profits, not market share," she notes..more here 

Want a better strategy? Stop trying to be the best
Bosses who try to beat everyone else on their own terms typically struggle to make sound strategic decisions, says Michael Porter. Proper strategic thinking finds new solutions, not just better operational performance. "The granddaddy of all mistakes is competing to be the best, going down the same path as everybody else and thinking that somehow you can achieve better results," Porter says. "This is a hard race to win." ...more here

How the best leaders stand out from the pack

The best leaders go the extra mile to differentiate themselves by addressing tough problems, discovering new opportunities or coming up with ideas for new products, writes Joel A. Garfinkle. "There are new products being released constantly, so you need something that is either completely different from what is currently available or a huge improvement," he writes...more here

 


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