Category Archives: Entrepreneurship

Entrepreneurs, Eight Tips And Ten Questions To Improve Your Interviewing and Hiring Skills

Most entrepreneurs have little to no training when it comes to interviewing and hiring staff. While this is understandable, it is very important for a startup to be build around a strong team as failure in this domain could be extremely damaging. By following eight simple tips on interviewing and hiring, going from planning ahead to having an interview partner, you will be able to get the best of the best on your ship to success. Read More >> 

Three Questions All Aspiring Entrepreneurs Should Ask Themselves

It takes a lot of hardwork and dedication to be a successful entrepreneur and as appealing as owning your own business sounds, it is not for everyone. Research has shown that the self-efficacy is one crucial key to entrepreneurial success, but how do you scale it for aspiring entrepreneurs? Justin Craig and Leon Schjodt determined three questions people should ask themselves to assess if they are ready to start a business. The goal is to be able to answer yes to all three of them. These questions will help better prepare people on the hardship of entrepreneurship, giving them time to assess whether they could pursue it. Read More >>

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 >> 

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 >> 

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 >> 

A Three-Part Formula on Fueling Startups

While exploring how a new venture can succeed with their paper “Turning Lead into Gold: How Entrepreneurs Mobilize Resources to Exploit Opportunities”, Bala Vasaa and his co-authors were able to come up with a three-step process to mobilize business resources. Step 1 is to search for resources such as financial capital, human capital and social capital. To do so, entrepreneurs need to identify where to find the resources and this task can be tedious as too many entrepreneurs limit their search on the world they already know. Step 2 is to persuade the ones with the appropriate resources to come on board. Entrepreneurs can access resources in many ways from a successful pitch, to convincing potential employees, to alliances and affiliations with other companies for their social network. To successfully acquire the resources, research shows that a compelling narrative of the startup weights a lot on persuading investors. Lastly, step 3 is to deploy the acquired resources. Entrepreneurs may still face brakes from formal contracts, informal agreements or authorities even after acquiring the resources as they depend on the resource holders. This dependence is good because it favorizes transfer of resources but at the same times, makes the founders sometimes vulnerable.  Read More >>

Start Me Up: Where Mobility Investments are Going

What areas of the market have projects that are so huge that multitude of groups of investors must team up to realize the full potential of the project? Research by Daniel Holland-Letz, Matthias Kässer, Benedikt Kloss, and Thibaut Müller of McKinsey and Company indicates that electrification, the Internet of Things, smart mobility, and autonomous technology all represent a significant investment by major players in industry. Many of these technology investments constitute transactions valued at greater than $1 billion. What are trends that you should keep track of going forward and what of note has happened in the mobility investment realm in the past twelve months? Read More>>

The Performance Trick Elite Athletes Use That Every Entrepreneur Should Know

There are an abundance of tropes made in comparison between professional athletes and entrepreneurs that most of us have heard before: “endurance and mental strength are the most important elements of successful entrepreneurship”, “practice makes perfect”, “determination is key”. Nicholas Sonnenberg, the co-founder of the entrepreneurial outsourcing platform Leverage, writes in an Inc.com article that a less talked about tool in the arsenal of some of the greatest athletes could be instrumental to entrepreneurs. What do the Rock and Kobe Bryant have in common and how can you use it to step away from some of your limitations and “show up the way you want to show up” in your job or new business? Read more>>

Richard Branson Says This Emotion Helped Him Start Virgin Atlantic, and It Will Work for You Too

What is going through the minds of some of the most successful business moguls when they land their breakthrough business idea? In an interview with wildly prosperous entrepreneur Richard Branson of Virgin America Inc., reporter Minda Zetlin of Inc.com gets an insight into what the key to the billionaire’s success in his ventures is. Branson isn’t done yet either. He continues to harness the feeling that led him to found Virgin Atlantic in the first place to further diversify his corporation’s portfolio of activities. Read more>>