The Path to Find Your Next Big Ideas

bright ideaI recently had the opportunity to chat with Peter Sims, the author of “Little Bets,” at the Social Good Summit. Peter is also a co-founder of Fuse Corps, a social enterprise that partner up with government, mayors, etc. to help tackle the nation’s most pressing problems. This is part of his little bets.

Little bets are a way to explore and develop new possibilities. The idea is to start small experiment to discover big things. You have to go through the process to discover bigger and better ideas. There is no shortcut for that.

For example, comedian Chris Rock would practice (read: experiment) with his lines at small comedy clubs around where he lives – before he uses those lines (that worked) for the big stage.

The same is true with VCs, how they would invest in a number of different companies. Not all companies would succeed (if it works out 100% success ratio, it would be a dream!), however, from the companies they invest one of two would grow big and give multiple times payback to investors.

So before you dive in to the conversation, here are some the things you can learn from this conversation:

  • where Peter finds his inspiration
  • that it’s okay to fail

Continue reading “The Path to Find Your Next Big Ideas”

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Think like a Startup. Visualize Your Business Model.. in 15 Minutes

“Ordinary people believe only in the possible. Extraordinary people visualize not what is possible or probable, but rather what is impossible. And by visualizing the impossible, they begin to see it as possible.”

~ Cherie Carter-Scott

This is the challenge for most entrepreneurs is that we often get caught up so much in daily things that we failed to see the big picture, focus on that and put it to work.

“Ordinary people believe only in the possible. Extraordinary people visualize not what is possible or probable, but rather what is impossible. And by visualizing the impossible, they begin to see it as possible.”

~ Cherie Carter-Scott

This is the challenge for most entrepreneurs is that we often get caught up so much in daily things that we failed to see the big picture, focus on that and put it to work.

The startup business framework created by Tom Hulme, IDEO’s Design Director at their London’s office, is simple enough for anyone to use. Whether you just have this idea that you think is very interesting, to large companies.

Continue reading “Think like a Startup. Visualize Your Business Model.. in 15 Minutes”

Chart of the Day: External Drivers of Change

According to the findings of “Leaders of Change” survey by EIU (Economist Intelligence Unit), gathered from 288 respondents (senior executives) “the focus of change management have shifted from cost conscious to more emphasis on growing market share and preparing for the future.

According to the findings of “Leaders of Change” survey by EIU (Economist Intelligence Unit), gathered from 288 respondents (senior executives) “the focus of change management have shifted from cost conscious to more emphasis on growing market share and preparing for the future.

Sales and marketing also get more attention.

As the chart shows below, the external drivers of change varies from industry to industry. For example, for consumer goods company, competitiveness is top on the list (56%), follows with customer demand (44%) and desire to increase market share (51%). Continue reading “Chart of the Day: External Drivers of Change”

The Top 10 Clean Energy States

Clean Edge just released their first annual U.S. clean energy leadership index, that ranks the top 10 states for clean energy based on certain methodologies they use, i.e. technology, policy and investment. The company tracks more than 4,000 public and private data points across all 50 states. 

You’ll see from the map that East and West coast are dominant in this case. However, a few states outside the coastal states, also play a role. 

Top_10_clean_energy_states

Most of the top 10 states are blue states. Coincidentally, Ernst & Young came up with similar blue states conclusion. 

  1. California, 
  2. Oregon, 
  3. Massachusetts, 
  4. Washington, 
  5. Colorado, 
  6. New York, 
  7. Illinois, 
  8. Connecticut, 
  9. Minnesota and 
  10. New Jersey. 

What that means is that these states are probably the first states in the U.S. that will come out of recession. With the rest of the world venturing into low-carbon economy, these states will stay competitive. For wannabe entrepreneurs: this kind of economic environment is definitely good for business. 

Take that, Congress! Hmm, more specifically the close-mindedanti-progress group. 

 

5 Global Forces that Will Shape The Future of Your Business

Reasons for rethinking business as we go forward to 2011 and beyond. According to McKinsey Quarterly, there are five global forces that will shape the future of business and society that represents both opportunities and challenges. 

“These trends are important because each of them can create, reshape, or extinguish entire industries,” says Patrick Vigueri of McKinsey’s. (emphasis added)

1. The rise of emerging market as the center of consumerism and innovation.

2. The imperative to improve developed-market productivity.

3. Ever-expanding (and interconnected) global networks.

4. The tension between rapidly rising resource consumption and sustainability.

5. The increasingly larger role of the state as a business partner and regulator.

Watch the video. 

http://www.mckinseyquarterly.com/App_Themes/v2.0/swf/external_player.swf

For transcript, here.

The Social Business and Customer Service

Businesses got to love change. Not just change, but sustained change. That’s the message from Frank Eliason. If that hasn’t sunk in your business culture yet, listen to this interview on social business and customer service. Brian Solis interviewed Frank, who Brian says is “one of the fathers of modern customer service.” At Comcast he started using Twitter to interact and communicate directly with their customers. He was the guy behind @ComcastCares. Speaking about career development, Frank Eliason is now the Senior VP of Social Media at Citibank.

The money quote:

“One day, customer service will be marketing.”

10 Principles of Strong Brands

In today’s marketplace, “corporations need to be aware more than ever before of the many underlying forces that impact a brand’s ongoing strength,” according to Interbrand. The rule of relationships between business and customers is changing. In the 24/7 news cycle, business can lose their brand value in a matter of minutes. Customers are more vocal. They would let you know what they feel online via Twitter, Facebook, blog comments, etc. Responding to a crisis to maintain perceived brand image is more important than before. Ask BP about it

To stay true to your brand’s promise, business needs to humanize its customer relationships, via Interbrand. 

It is clear that the rules are changing, but in a landscape fraught with contradictions, and vocal customers scrutinizing your every move, it is difficult to know how best to proceed. Yet some brands are already adapting – embracing transparency and a higher level of customer engagement at every touchpoint, while staying true to their brand promise both internally and externally. Brands like Coca Cola, Ford and Santander are guiding the way forward, showing the world that it is possible to win in this marketplace, and build trust and loyalty that influence customer demand, despite many risks. (emphasis added)

COCA COLA: 124-year old brand still relevant in today’s market. 

FORD: using customer feedback to make a comeback.

SANTANDER: transparency, honesty and respect for its clients. 

According to Interbrand’s Brand Strength Score, here is the 10 components that make up in a brand’s ability to generate value.

  1. Commitment
  2. Protection
  3. Clarity
  4. Responsiveness
  5. Authenticity
  6. Relevance
  7. Understanding
  8. Consistency
  9. Presence
  10. Differentiation

Number 9 has something to do with how social media can elevate the presence of brands.

You can dig in deeper via the definitive guide to the most valuable global brands of 2010, here or below.