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The basic goal of any website is traffic. Traffic is where the money is and as the vice President of my hospital used to say, without money there is no mission. Traffic is what makes sites valuable which is why Huffington Post makes so much money or why Amazon bought businessinsider.com 100,000 users who are actively engaged is worth about $10 million. Once you get traffic, there are many ways to monetize whether the goal is profit, charity, or votes. You can ask for donations, get sponsorships, run advertisements, run fundraisers, etc. All of these things need traffic because they are eyes on your pitch.Read More →

What is the best market entry strategy? First mover or market follower?

  What is the best market entry strategy? First mover or market follower? When coming up with a new business plan, is it better to be the first mover or a market follower? Contrary to popular belief, it is often times better to be the market follower. It is often said that the first mover has the advantage of being first to market and will therefore capture the majority of that particular market place. Though, in reality, the opposite is often true. Being a market follower allows you to see the mistakes that the first mover makes and is therefore able to adjust to avoidRead More →

How to judge a business idea

    When someone has a new idea, who’s in the best position to predict whether it’ll be a hit: the creator of the idea, or the manager in charge of evaluating the idea? It turns out the answer is “neither,” according to research by Justin Berg, a professor at Stanford Graduate School of Business. https://www.gsb.stanford.edu/insights/managers-are-not-best-judge-creative-ideas You tend to be too positive on your own ideas. Managers tend to be more negative on other people’s ideas because they have a prototype about what a successful model looks like. The group that was much more effective than either people themselves or managers was peers. Consumers wereRead More →

Business ideas creative genius

Enter your information below to get the 29 Ways to Make Money Online Report FREE:     Adam Grant, author of the Originals and Professor at Wharton, states: One of the myths that people carry around is if you want to be original, you will think, “I should do less because I want to perfect my invention or my creation.” But again, the data actually support the opposite story. Dean Simonton, a psychologist states: The best predictors of how much creative productivity you will ultimately achieve, how much you’re regarded as a genius, is about the number of ideas you produce. The more ideas youRead More →

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Is it better to quit your #job to run your #startup? …study says No! from Owerly.com on Vimeo. Is it better to quit your job to run your startup? …study says NO! In a study at the University of Wisconsin, Jasmine Feng and Joseph Raffiee found that Hybrid Entrepreneurs, people that continued to work a paying job after founding their organization, were statistically more successful. (http://www.inc.com/jessica-stillman/should-you-quit-your-day-job-study-says-no.html) Joseph writes: “We examined businesses’ survival times from the date the founder is full-time self-employed (i.e., the date the founder leaves his or her day job), and found that companies initially founded with a hybrid model were 33 percentRead More →

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      What your web browser choice says about your personality. IE vs. Chrome vs. Firefox vs. Safari Evolv, a company that monitors recruitment and workplace data analysed data from over 30,000 employees. They found that those applicants who installed new web browsers on their computers (Firefox or Google Chrome) perform better and stay in their posts for 15% longer, on average, than those who use the default pre-installed browser that came with their machine (Internet Explorer and Safari). (http://www.economist.com/blogs/economist-explains/2013/04/economist-explains-how-browser-affects-job-prospects) One possible explanation is people that use Chrome and Firefox took an extra step to come up with a solution for a better internetRead More →

get-it-now-button

It’s tough to think of the next online business idea that hasn’t been done already. How do you know if an online business is worth investing your time and money into?  Here are 4 types of online business models that you can look into, categorize yourself as or give you your next fresh idea.   Margin Disruption Offer products with a high margin of profit in traditional business at a lower price online by going direct to the consumer.  i.e. Dollar Shave Club Oftentimes, these industries have little competition in the traditional market.   Better match supply and demand Fill a demand for not justRead More →