Having spent a good amount of time in Japan, I became familiar with the concept of HoRenSo, which is basically a way of data or information sharing that synchronizes actions about changing surroundings that occur in and out of an institution or firm. It is effectively practiced in the Japanese business culture. This arrangement is meant to fulfill requirements of those associates/members who expect some handy tool for distribution of information among them in order to attain a common objective.Share:
A variety of factors affect what makes an area appropriate for a startup, and a smart entrepreneur will inspect all the factors prudently before coming to a decision.
Over the last few years, secluded working and operations have become much more common, but one thing still remains unchanged – when we talk about tech-based startups, picking the right ‘home base’ marks all the difference. In this age of virtualisation and globalisation, the topographical area where one chooses to work can still lead to a make-or-break situation for one’s startup business.Share:
The one thing every single entrepreneur can rely upon is change in the marketplace. Every entrepreneur has to compete with forceful competitors looking to expand or disrupt the marketplace.
Creative thinking is hard to act upon, but at the same time highly unique and simple. Most of your answers to toughest business related problems are closer than entrepreneurs think. Original solutions, new methods, and possible explanations aren’t going to come from outsiders. Highly possible, that they’re sitting in an unexploited reserve right under your nose – as your team and workforce.Share:
A number of unicorn companies have been reforming and downscaling research and development efforts. Many huge companies seem interested in investing in and producing new products, instead of counting on smaller startups for innovation and invention that they can purchase or authorize.Share:
GMV or Gross Merchandise Value is the sum total of products and services traded over a particular period of time through a consumer-to-consumer exchange platform.
It is referred to as the amount of the growth of a corporation, or usage of the exchange site to trade merchandise retained by other people; while the Bottom Line denotes a firm’s net remunerations and net earnings per share (EPS). The “bottom” defines the comparative position of the net income amount on a corporation’s revenue statement.Share:
Willingness to pay is known as the maximum agreeable extent a singular person pays for a product or service; it is autonomous to the budget limitation. Later, the customer’s ability to pay comes into play and consumers with a high inclination towards the product may not be able to afford the product or service at the given price.Share:
Even though organizing and running your own business as an entrepreneur sounds very thrilling and might look profitable from the outside but on the inside it is completely different and this is surely the shared notion of many existing Entrepreneurs. The preliminary stages comprise of struggles like company operation, employing personnel, setting up a functional crew & business development, generating timely profits, working in the direction to reach breakeven point and also receiving profit along the way – these tasks are enormously challenging and thought-provoking to arrange and launch.Share:
Back when McDonald’s started it had a skimpy menu. Later, even after witnessing a rise in competition and diminishing sales, they decided to keep a more Operationally Efficient lookout and did not succumb to their temptation to increase menu items. They kept it simple and concentrated on good taste and ensured that quality of food was always cost efficient. Such examples can be useful for many startups that almost always have a lean budget.Share:
A startup is only as good as its team, as all the dreams, visions and missions can be realised only through their skills, sweat and commitment. So, it is imperative for a startup to be able to recruit the right people, as there is very little room for mistakes for a cash-strapped tight ship like a startup.
A lot of times, a startup may not have a separate HR person or be able to afford headhunter fees to look for the right talent. So, mostly it is up to the founder and the core team to do the right thing to recruit the most suitable talent for the startup.Share:
A startup is the culmination of the hopes and dreams of a founder. It is a baby which has to be nurtured and nursed to the dimensions envisioned by the founder. With limited resources and mounting responsibilities, a founder needs just the right kind of help to keep this baby healthy. Since there are not enough financial resources to hire the best expertise from the industry and any bankable relationships, a founder needs a doppelganger to fulfill the demands of running a startup. This doppelganger may be a co-founder or a key team member whose motivation and commitment levels match that of the founder.Share: