Entrepreneurship, Risk-Taking, And The Innovation Stack With Jim McKelvey

TTL 697 | Innovation Stack

Entrepreneurship, Risk-Taking, And The Innovation Stack With Jim McKelvey

What is an innovation stack, and how does it help startups break free from the dominance of established market players? Dr. Diane Hamilton tackles this topic with today’s guest, Jim McKelvey, the co-founder of Square, a startup that enables small merchants to accept credit card payments on their mobile phones. Jim describes how Square miraculously survived an attack by Amazon by simply carrying on with what they are already doing. In his book, The Innovation Stack, Jim looks for historical precedents of the peculiar situation that Square found itself in, and found a rare pattern that these startups share: a list of innovations that made their businesses unique and eventually enabled them to dominate the market. Listen as Jim harks back to the historical meaning of the word “entrepreneur” and encourages us to do things that have not been done before. As a bonus, he also gives us a glimpse of how his newest startup, Invisibly, is developing innovations in micropayments in relation to web content.
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TTL 668 | Experiencing Failure

Experiencing Failure With Professor Francis Greene And Evaluating Learned Habits With Joan Sotkin

Experiencing failure, unfortunately, is one of the most natural parts of any venture, especially business. But what you choose to do with that experience of failure – whether you recover or you continue to sink—is completely up to you. Professor Francis Greene, the Chair of Entrepreneurship at the University of Edinburgh Business School, joins Dr. Diane Hamilton to discuss how one should go about the aftermath of experiencing failure in their ventures.
Decision-making, whether we realize it or not, is driven by habitual thoughts and feelings learned in childhood. Joan Sotkin, the author of The Search for Connection: A Spiritual Journey to Physical, Emotional, and Financial Health, joins Dr. Diane Hamilton to talk about how deeply these habits impact one’s life in the present. Seek out these habits, and make a change, if need be.

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TTL 545 | Initiative

Enabling People To Take Initiative with Joshua Spodek

As much as curiosity breeds creativity, many still struggle in taking the initiative and ownership of their ideas. In the entrepreneurial world, an idea-generating culture is what most aim for. Joshua Spodek, the bestselling author of Leadership Step by Step, helps people to spark ideas that may bring down hegemons in the future, per se. An astrophysicist–turned-new media whiz, Joshua helps people unravel what blocks them from creating ideas and identify their trigger points of fear. As he walks us down the three-part structure of his courses, learn how much perception play in your success as an entrepreneur and find out more about his upcoming book, Initiative.
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Building Credibility From The Inside Out with Rob Jolles and Understanding Entrepreneurship with Tom Duening

Salespersons always want to get their word out. Author and sought-after speaker Rob Jolles says words are important, but they’re a bit overrated. He says we need to focus on some other pieces of communication because it’s not what we say, but how and why we’re saying it. Rob talks about selling, the ethical impacts of persuasion and influence, and how you can build credibility from the inside out.

 

Having been an entrepreneur since starting his first business while in graduate school in 1984, Tom Duening has been teaching entrepreneurship for many years, a responsibility he takes very seriously. He says you have to be ultimately responsible as an educator to nudge people into this very challenging career path because it’s a hard path and it’s not for everybody. Tom speaks on the subject of entrepreneurial thinking, hiring people, and balancing an open mindset with critical thinking.
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Entrepreneur Startup Terminology

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Entrepreneurs have created their own vocabulary.  The Wall Street Journal recently posted some important terms that every startup professional should know: Continue reading “Entrepreneur Startup Terminology”

Famous Entrepreneurs Provide Inspiration

There are plenty of examples of entrepreneurs who failed before they became successful.  Some of them even explain that failure has taught them their most valuable lessons.  While this may be true, many prospective entrepreneurs fear failure.  One way to avoid problems is to learn from those who have experienced negative issues and still managed to succeed.

Entrepreneur.com recently published the article 10 Inspirational Leaders Who Turned Around Their Companies.  In this article, author Stephanie Vozza explained, “From Apple’s Steve Jobs’ demanding personality to Marvel’s Isaac Perlmutter’s frugal methods, these sometimes-controversial CEOs weren’t always popular with employees, but they earned the respect of shareholders.”

For some unusual entrepreneurial examples, check out the VentureVillage article The Top Ten Startup Founder Blogs Every Entrepreneur Should Follow.  These entrepreneurs offer a different perspective and update their blogs on a regular basis.

For more information for how to be a successful entrepreneur check out:

Top Business and Career Trends for 2013

 

Potential entrepreneurs often look for the next big idea.  With changing technology, it is important to have foresight.  It is not always necessary to be the first company to offer a product or idea.  Facebook is an excellent example of this. Sometimes an idea can be improved upon or tweaked.

Once an entrepreneur comes up with an idea, they must create a feasibility study.  After creating a viable plan, there are some unique ways entrepreneurs may obtain financing.  Crowdfunding and microlending are just one of the latest trends.  Check out the Top 7 Ways for Entrepreneurs to Obtain Funding.

Some experts have tried to predict the next big areas for innovation. There are even sites like Trendhunter that offer trend reports to help with predictions. For those interested in getting ahead of the game, check out some of the top articles on business and career trends for 2013:

  1. Top 4 Career Trends for 2013
  2. Consumer Trends for 2013
  3. Top HR Trends for 2013
  4. 2013 Trend Customers Will Be In Your Face
  5. Mobile Payments Trends for 2013
  6. Mobile Trends 2013
  7. 2013 Trends Affecting Businesses
  8. Biggest Trends in Business 2013
  9. Lean Start-Ups and Connected Economy Trends 2013
  10. 5 Business Trends to Ignore in 2013

The last article is an interesting one, because sometimes people look at trends as positive things.  That may not always be true.  An important point was made in that article.  Bringing value to customers should be a primary goal.

Related Articles:

Top Entrepreneurial Topics and Value of SBA

 

Are entrepreneurs made or born?  That is just one of the topics addressed in The Wall Street Journal’s report about Entrepreneurs and the Small Business Administration.  The Small Business Administration is one of the first sources my entrepreneurial students consider when asked where they would obtain funds for their venture. Check out some very interesting debates about six small-business issues:

The article about whether entrepreneurs are made or born is something that is discussed in several of my courses.  The above graphic demonstrates some of the characteristics of successful entrepreneurs.  This discussion creates an interesting debate considering some very talented entrepreneurs dropped out of school.  However, as noted in this article, there is a lot to be gained from education as well as from real life experience.

For more comprehensive information about how to be a successful entrepreneur, check out:  Top 30 Links for the Successful Entrepreneur.

Related Articles

Top 30 Links for the Successful Entrepreneur

 

The following list contains the most popular articles used as supplements in my entrepreneurial courses.  Click on the title name to be directed to the article.

  1. Ten Entrepreneurs Who Hit It Big Before Turning 35
  2. Top 10 Companies Code of Ethics and Conduct
  3. Top 10 Company Mission Statements
  4. Famous Entrepreneurs Who Hit it Big With Humble Beginnings
  5. Researching Apple: Top 10 Most Useful Links
  6. Value of Top Companies   
  7. The Top 10 Most Misunderstood Entrepreneurial Terms
  8. Top Five Things to Know to be a Successful Entrepreneur
  9. 50 Famous People Who Failed Before They Became Successful
  10. Top 50 Venture Funded Companies   
  11. Top 5 Networking Tips for Small Businesses
  12. Time for a New Career? Change the Daily Grind to a Job of Your Dreams
  13. 50 Excellent Lectures for the Small Business Owner
  14. An Entrepreneur’s Startup Business Model Checklist
  15. Importance of Being Proactive vs. Reactive
  16. Important Terminology for Entrepreneurs
  17. Chief Officer Acronyms Explained
  18. Top 20 TED Talks Not to be Missed
  19. Companies Rewarding Employees for Entrepreneurial Ideas
  20. Increasing Motivation:  Right Brain vs. Left Brain
  21. Women Becoming Successful Entrepreneurs
  22. Most Inspiring Entrepreneurial Women
  23. Capitalizing on Manic Depression
  24. What Happens When Genius Leaders Pass the Torch
  25. New Businesses Not Getting Loan Approval
  26. Serial Entrepreneurs Share Words of Wisdom
  27. 10 Famous Product Failures
  28. Microlending:  Funds for Small Businesses
  29. Brand Awareness:  The Importance of Facebook
  30. Top 25 Links to Change Your Body, Career and More

50 Excellent Lectures for the Small Business Owner

Many are now just completing their MBA or considering starting their own small business. There is a great article from BSchool that includes 50 excellent lectures about entrepreneurship, practical tips, innovation, leadership, technology and the economy.  The courses come from sources like the University of California through UCTV.  The one I first watched was an hour long and had four accomplished entrepreneurs discuss the excitement and challenges of starting a business. It offered an insight into what to expect as a new entrepreneur and pitfalls to avoid.

These are excellent lectures. To see the complete article, go to BSchool’s link by clicking here.  Bschool.com is an online resource for MBA programs and top
online business schools. They provide thorough information on MBA subjects, specialty MBAs and business school rankings.

To see the the types of lectures, I have included an excerpt from the  bschool.com article:

Entrepreneurship

These lectures tackle topics in entrepreneurship, from appealing to the consumer to making great pitches.

  1. Entrepreneurs: Four entrepreneurs share their journeys to open a new business, and the talks inspire passion and excitement.
  2. Entrepreneurship and Society: This talk from UCTV is led by Tom Kemp, President and CEO of Centrify Corporation. He talks about what new ventures need in order to effectively appeal to the modern-day consumer.
  3. Women Entrepreneurs: Consider the differences between men and women as business leaders and owners.
  4. Presidential Summit on Entrepreneurship: President Obama gives a talk to an international audience on entrepreneurship and realizing the American dream.
  5. Entrepreneurs: Then and Now: Guy Kawasaki compares the foundation of entrepreneurial strategy during the late 1990s and what’s popular and effective now.
  6. Leadership and Entrepreneurship: This lecture from MIT World features three business leaders from completely different fields but who have relied on their instincts and bold ideas to get their ideas off the ground.
  7. Whatever it Takes to Stay in Business: Frank Levinson encourages entrepreneurs to lose their pride, just like a baby, in order to please their customers and stay in business, whatever it takes.
  8. New Media Entrepreneurship: This talk is from 2008 but still has valuable tips on developing a good, emotional, factual pitch and going for the gold in order to move up in business.
  9. Behaviors of Successful Business Owners: Ron Finkelstein from Akris, LLC shares how entrepreneurs can make more money and develop productive employees, all with an efficient use of time.
  10. David S. Rose on pitching to VCs: In this TED lecture, serial entrepreneur David S. Rose helps you to pitch and prove yourself to venture capitalists.

Practical Education

From management to marketing, here are lectures that give you new ideas to help you build your business.

  1. John Gerzema: The post-crisis consumer: Learn how to appeal to the post-recession consumer here.
  2. Team Process Leadership: James Seferis’ innovative philosophy on business leadership and success involves active participation from all team members.
  3. Finding Gold: Hiring the Best and the Brightest: Watch this lecture from UWTV to build an invaluable team that’s focused, motivated and cooperative.
  4. Customer Relationship Management: Former Amazon.com executive Bill Price weighs in on customer relationship management.
  5. Marketing a Start-up: Learn how to develop a smart marketing strategy before attempting to sell anything.
  6. The Case for Sustainability: Sustainability isn’t really an option for new business owners in today’s society: it’s a necessity. Here you’ll learn how to develop a sustainable, environmentally conscious business that’s also attractive to consumers.
  7. The Naked Corporation: Learn how to be a more transparent and honest business owner, in an age when positivity is just as important as profitability.
  8. Talk to an Angel: Crucial Connections to Early Stage Capital: This group from MIT helps entrepreneurs find the right investors when they’re first starting out.
  9. Joseph Pine on what customers want: Writer and consultant Joseph Pine gives tips on selling authenticity to modern consumers.
  10. Choosing people — the ultimate talent?: Look over the transcript from this lecture given at Gresham College to choose the right senior people so that you have less managing to do later.
  11. Challenges of Managing: Firing People: Gajus Worthington is a proponent of firing employees in order to produce a healthy, successful business. This 22-part lecture series offers tips for firing and recruiting.
  12. Business Ethics: These lectures given by top business executives and professors will clue you into integrity, corporate responsibility, and ethical leadership culture in the business world.
  13. No Sweat Speaking: Whether you need to work on giving pitches or improving upon your networking skills, this public speaking lecture will teach you how to tell a good story, make use of the audience, and relax before speaking.
  14. Chinese Business Culture for Business Travelers: If you plan on doing business in the East or recruiting from China, watch this lecture.

Innovation and Leadership

Learn how to effect change and inspire your workers here.

  1. Leadership in an Age of Uncertainty: James Parker and Barbara Stocking discuss strategies for energizing and motivating all employees of an organization, from the top down.
  2. Bringing Creativity into an Organization: Ignore the classic MBA management strategies if you want to really cultivate creativity in your workplace, argues Robert I. Sutton.
  3. Building the Next Generation Company: Innovation, Talent, Excellence: Lecturer John Chambers came out of the last recession with big profits, and in this speech, he explains how you can beat the recession, too.
  4. Seth Godin on standing out: Don’t bury your creative ideas because they seem outrageous: those are the ones worth nurturing.
  5. Howard Rheingold on collaboration: Learn how to work with team members around the world with technology, new media and open culture.
  6. Richard Branson’s life at 30,000 feet: Notable entrepreneur Richard Branson is interviewed about his larger than life ideas, his major struggles, and his motivations.
  7. A Policy on Leadership: If your business is struggling — or you want to prevent a fallout — watch this lecture to learn how to create a fact-based analytical organization and good management teams.
  8. Values-Based Leadership: Strive to be a leader with character, and you’ll end up inspiring your employees to work just as hard as you do.
  9. Innovative Leadership during Economic Crisis: Let this lecture help you to think outside the box, no matter what kind of crisis is getting in your way. You’ll learn how to be innovative in three areas: with customers, people, and products.
  10. How great leaders inspire action: Simon Sinek’s TED speech uses examples like Martin Luther King, Apple and the Wright brothers to explain how the mark of a great leader is his or her ability to inspire action and change.
  11. Composing a Career and Life: Get inspired to take a nonlinear path when obstacles are tossed into your plan.
  12. Derek Sivers: How to start a movement: Don’t settle for selling goods or services. Learn how to start a movement.
  13. The case for collaborative consumption: Rachel Botsman’s lecture focuses on our natural desire to share, and how collaborative consumption is a powerful economic force.
  14. Gerd Leonhard: Find out why ego doesn’t have a place in business anymore, and what that means for your business plan.
  15. Video Player The Power of Competition: How to Focus the World’s Brains on your Innovation Challenges: Conversely, Fiona Murray believes competition is healthy, too, and asks business owners to embrace it in order to add a jolt of energy to the enterprises.
  16. Nurturing a Vibrant Culture to Drive Innovation: Here’s another lecture on inspiring innovation in order to nurture a talented, unique team that drives your business.

Technology

Become a smarter user of technology so that social media and other tools end up working for you.

  1. Technology and the Recession: how new technology is changing the way we do business: Consider technology’s new role in business.
  2. Craig Mod: Publisher and developer Craig Mod discusses the changes coming for the book publishing industry, but as one commenter notes, the questions raised are relevant to all business ventures.
  3. Why social network mess can benefit your business: Euan Semple’s talk should convince you to get involved in social media, even though it’s always changing.

The Economy

Discover how to work with the economy, even in bad times.

  1. Shaped by Booms and Busts: How the Economy Impacts CEO Management Style: On your way to becoming a CEO, find out how to make room for economic changes.
  2. Video Player The Economic Meltdown: What Have We Learned, if Anything?: Paul Krugman delivers this lecture to MIT to help us learn from our mistakes.
  3. Alex Tabarrok on how ideas trump crises: Consider the notion that free trade has opened us to global collaboration and an idea-sharing culture.
  4. Hanna Rosin: New data on the rise of women: Get statistics on the rise of women in the workforce, and their newly appreciated value in the economy.
  5. The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage: Here you’ll learn why it’s important to organize your company so that it can withstand catastrophe, from an economic downturn to an event like 9/11.
  6. Making Globazliation Work for All: Watch this lecture to learn how to make use of globalization without succumbing to immoral practices, like using sweatshops.
  7. Business, Knowledge and Global Growth: You’ll learn about the true impact that MBAs and business schools have had on the economy.