Roese, a professor of marketing at the Kellogg School who studies the psychology of judgment and decision-making claims that as a company develops its branding they make a transition from purely functional aspects of the product and service to the psychological side, that is critical for the creation of a long sustaining brand. Roese suggests 3 methods that the entrepreneurs can adapt in order to include early-stage branding into their startup plans.
- Define the personality of your brand i.e how it would behave if it was a person and this helps the company to have a vision and set up the guidelines for future growth.
- Develop a brand design Plan, Entrepreneurs will have to find the right balance between specificity and abstraction while defining their branding elements, so that there will be room for improvement keeping the same general theme.
- Having a well-defined brand, This makes the brand easily identifiable and ensures that the customers are familiar with your company even as you scale into new markets. Read More>>
“The lion that is desperate for the meal is going to be a lot more focused and smarter than the one that isn’t worried,” says Gary Hirshberg, founder of Stonyfield Farm. The above statement is a counter-argument to the advantages of the services offered by Epic Entrepreneur House in San Diego, At Epic we can see aspiring entrepreneurs working on ideas that could disrupt industries without being distracted. Here dry-erase boards line all the walls of the house and also an in house chef prepares all the meals. The prearranged social events make it possible that the friends of all those in EPIC visit them regularly. The dangerous road that was once walked alone by founders many years ago is now completely paved and lit up, this includes outsourcing of various supplementary tasks easier and with websites providing info on almost everything an entrepreneur needs such as how to pitch, what to wear and how to find VC’s makes it possible that one can start a bussiness all by himself. However, This is not welcomed by many experienced startup founders. Read More>>
The pitch was held at Doolittle Institute in Niceville, Florida on November 7th,2019. Over 9 startups pitched their products on Hypersonic Flight such as Mach 5 plus capabilities, These included small propulsion units to composite materials that are capable of withstanding very high temperatures and speed. The reason the pitch is so exciting is not just the same day contract of $750,000 that will be awarded to the winner of the pitch by the Airforce but also the opportunity presented by Airforce to the company to partner on the current up-gradation project of their warfighters such as F-35 with Hypersonic grade weapons. The pitch day winner will support the two major Air Force boost-glide hypersonic prototype efforts now underway: the Hypersonic Conventional Strike Weapon and the Air-Launched Rapid Response Weapon (AARW). Read More>>
No one wants to be a quitter, But there comes a point when the founders are struggling with their startup and have to make the big decision in order to keep their reputation and sanity intact. The process of shutting down a startup is always a messy affair because it involves burning down customers,employes and investors. However, there are other ways an entrepreneur can strategically shutdown the company and bounce back from the failure. The key is to know when to give up,Although failure is a slow process and there is no way to measure how well a startup is doing, one should know that when the startup is moving sideways it is time to reflect on the direction the company is heading. It overwhelms any founder when they have to shut down their venture because they do not want let others down and future job prospects is another factor that makes this whole process even harder.Read More>>
Recently when a live-fire exercise was in session between the Australian,US and other troops, a number of highly autonomous drones successfully carried out more than 380 drop missions to the front lines that included blood and other medical supplies to the troops. These drones were designed by a startup called zipline and were part of the Defense Innovation Unit and the Naval Medical Research Center’s Naval Advanced Medical Development who were demonstrating the capabilities of their drone technology that could aid during the war. the zipline drones carried out over 461 sorties throughout the day and night and successfully dropped 381 supply packages with the help of small parachutes. These are not the first of the unmanned vehicles that were used to deliver cargo during a crisis. However, these are very compact and easy to handle compared to the previous unmanned helicopters Kmax which was used until 2015. Read More>>
Lean startup methodology proposes that for a startup to be successful it has to develop a framework that encourages the focus on action. The process begins when the founders of a startup fill out the business canvas model that has nine subsections dealing with concepts such as value proposition, customer relationships, revenue streams, cost structure etc. this enables the founders to answer questions on their business and also helps them put together a testable hypothesis thereby facilitating production of viable products to test the hypothesis, If the test proves wrong the canvas model is adjusted and the iterative process is repeated. Although the lean startup methodology has proven successful in most of the cases it still isn’t completely failproof and causes considerable harm at times. Read More>>
Many times it is mistaken that AI would replace humans in a firm however it rather aids humans with decision making and yields accurate solutions to convoluted problems. AI has grown to a stage where it not only detects cancer, recognises facial patterns or predicts flood, Recently many startups are interfacing AI with humans and this collaboration has brought about a lot of advancements and opened new possibilities in the field of art. But with so much advancements in this field many industries have started to research and even integrate this technology into their business model inorder to add value to their product and services offered, However they have to realise it does not blindly mean they replace humans with programmable bots rather use the AI to make the process efficient, fast, smooth and accurate. Read More>>
Super apps are those platforms that offer all online services in one app for smartphones, they include services like messaging, ordering food, banking, shopping and even booking a taxi. Wechat that’s called the “King of Super Apps” has been dominating the Chinese market and has more than one billion users that use it every month, it has extra features such as gaming and publishing. In Southeast Asia, Singapore-based Grab and Indonesia’s Gojek are competing to mimic Wechat’s model of success. Although these super apps are proven to be a great success in developing economies its intriguing that their presence is not felt in large and well-established economies such as the United States and Europe. Read More>>
Miami based healthcare startup called Papa was started in 2016 by Parker are currently striving to link ageing seniors with college students in order to reduce the problems of loneliness and social isolation that comes with age. It also serves as a major upgrade to the caregiving industry with its idea of bridging the gap between generations that adds enthusiasm, joy and delight, also these acts of empathy make one’s life worth living. Owing to Papa’s success another California-based startup Mon Ami has stepped into the same market and recently announced a $3.4 million seed financing round. Read More>>
Tilt Five was started by Ceo and Ex valve engineer Jeri Ellsworth and a few castAR employees who put together enough funds to buy back assets of their former company castAR in 2017. after 2 years of reworking, they are all set to launch an improved version of their AR glasses that is encased in a sleek polycarbonate shell making it futuristic in design and also comes with a customisable nose piece. They aim to integrate the experience of board games and video games with AR and make tabletop gaming affordable. Read More>>