All posts by bowersm1

The Race to $1 billion – How Startups Glossier, Casper, Rent the Runway and Away Became Retails Unicorns

In the business world, a “unicorn” is a startup valued at at least $1 billion. 2019 is the year for unicorn spotting as the major success of Glossier, Casper, Rent the runway and Away pushed them to unicorn status within the first half of the year. Their journeys diverged in many ways but each of these startups used VC funding very carefully, as well as learned the power of personalized and simplistic products.These 2019 retail unicorns are here to stay thanks to their innovative products and retail strategies. Read More >> 

New Startup-Focused Bank Gets More than $100 Million From Investors

A New York based bank opened up for in May 2019, after raising over $100 Million from investors. Indeed, Grasshopper Bancrop Inc entered the business world targetting startups. It is an excpetional investment as new banks are rare in the US because of low interests rate and domincane of giant lenders. Grasshopper is known as a venture bank, meankng that, it typically will take deposits from startups that have raised money from investors and firms. This bank aims to lend more established companies investing into startups. But, CEO Judit erwin believes that many barriers are falling down for new banking companies. Read More >>

How Much Does Innovation Drive Economic Growth ?

Since the 1800s, productivity is increasing in the US with no clear reason of why it is happening, with different flux for certain years as well as up and downs for some industries. Professor of finance Dimitri Papanikolaou has thought on the question and believes, as many, that innovation and technology boosts the productivity differences over time. But, how can we measure innovation ? Papanikolaou and his collaborators created a novel measure of innovation relying on the quality of patentand how different it is from earlier ones in its field, but not all innovations were patent especially prior the 1940s, making it impossible for them to be analyzed. Therefore, to measure the innovation, Papanikolaou decided to explore different methods such as analyzing the patent text as a quality test, predicting the productivity based on the quality of the patent and lastly drew conclusions on the future of patents and innovation, proving that innovation and technical progress correlated with productivity. Read More >>

5 Ways to Know Your Customers Better than Your Competitors Do

To develop an efficient marketing strategy, it is important to understand what the customers want and how the company can create value into their product better than the competition. The goal is to a better sense of what the customers want than your competition, and even the customers themselves: this is customer insight. To achieve superior customer insight, five different simple steps are recommended. These are: interacting personally with the end user, spend “quantity time” with the customer more than your competitor, watch customers buy your product, watch customers use your product and lastly engage end users as product designers. Read More >> 

4 Qualities Venture Capitalists Look for in an Entrepreneur

Rick Desai, venture capitalist argues that a successful business can come down to the individual you are more than to your great idea. Some have it innately and others have to learn how to work it out. Through his experience, Desai shares with Kellogg Insight 4 qualities he looks for when deciding to support entrepreneurs. These are: demonstrate a drive that inspires belief, do not wait for the money, understand the importance of thinking small and mitigate risk. Read More >>

The Decelerator : How Do You Shut Down Your Startup ?

What do you do when your startup doesn’t take off ? According to Harvard Business School, 30 to 40% of all startups fail. The number goes as high as 80% if you measure failure by if the startup achieved its projected returned investment. Abigail Edgecliffe-Johnson is the Founder of The Shut Down, an open source project trying to build a road map for people who are trying to wind down their startup. Edgecliffe-Johnson’s goal is to build a guide for anyone trying to shut down their startup through a detailed customized checklist and hopefully, make this process less painful for the entrepreneurs. Like this, she hopes it would be easier for them to move forward in building more businesses. Read More >> 

A Surprising Simple Way to Encourage Customers to Take Risk

Marketing researchers have explored many factors that influence the customer’s decisions while choosing a product over another. Some such as personality traits or how ads frame a question are a bigger focus than others, such as how your surroundings affect your decisions. Indeed, in Ati Jami, research assistant professor of marketing at the Kellogg school stipulates that things in our surroundings that seem irrelevant to the decision can still influence our choices. New studies focused on viewing images reveals that high elevation can push people to take more risk, suggesting that high elevation make us feel more in control. But these images are not suitable for every situation and marketers should test different viewing images to gauge the customer’s reaction. Read More >>

HOW INTROVERTS CAN LEARN TO LOVE NETWORKING

Networking events can be complicated to navigate for introverts. But according to Holly Raider, a clinical professor of management at the Kellogg School of Management, introverts can be just as skilled as extroverts in networking and with some help, they are able to transform this trait into a real networking superpower. She offers four different tips for introverts looking to thrive in the networking experience and enabling them to enjoy it. These are : prepare a repertoire of questions, maintain a curious mindset, focus on relationships, not business cards and know when to move on. Read More >> 

STARTUPS AIMS TO WIRELESSLY CHARGE INDUSTRIAL DRONES

Global Energy Transmission’s new drone recharging technology has a lot of value for the energy and infrastructure inspection industries. Indeed, the company’s new technology uses electromagnetic field to charge drones in flight. With a max power transfer rate of 12kW within a charging area of 8m, the Get Air system claims to have a transmission efficiency up to 80%. Leonid Plekhanov, founder of the firm believes that the wireless charging technology would be ideal for inspecting oil, gas pipeline infrastructures. The company is currently under a series of temporary waivers from the FCC and hopes to be approved to sell it to customers. Read More >>

Take 5: Fine-tuning Your Powers of Persuasion

Kellogg company is sharing five tips to get people to agree with your idea and jump on board. Firstly, you need to persuade people that your idea is a good idea. This is achievable through strategies such as letting the audience know what they are missing, let them experience the benefits and win a critical mass that will influence the surroundings. Secondly, it is important to understand power dynamics to persuade people to agree with your idea. Indeed, to persuade highlighting your competence or appearing warm depend on your audience and how equally powerful they feel in the situation. The better the power balance between communicators is the higher the chances are to persuade your audience. Thirdly, the use of communication tools for complex idea such as visuals, storytelling, and stressing audience participation can help others in buying into your product. The fourth tip shared by the Kellogg company is on ads. Customers consider some marketing tactics to be more trustworthy than others, therefore it is helpful to know which ones to adopt. Lastly, to persuade your audience, you should study how room lighting shapes decisions as research shows that dim lighting can influence us to pick what we want rather than what we think is approved by the others. Read More >>