2013-06-05

A Few Notes On Entrepreneuring

(The following list of notes on entrepreneuring and businesses are in no particular order. I probably could have titled this "Things to know/remember when building your business".)

Difference between a service company and a product company: The first is easily scalable.

Build something that does one thing really well.

Difference between a huge market and the right market.

Experience+knowledge >> knowledge. (Read: Experience and knowledge is much greater than just knowledge.)

"The trend is your friend" when asking for venture capital. Current trends: mobile, cloud, big data, and social.

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Describe your service/product better. Better doesn't mean specific, it means making an impression. Ex: My service is the oracle of big data. The words you should use evolve with time and with usage by others. The best copy now should use just one of the following: comprehensive, genuine, convenient , accessible, prestigious, premier, pioneers, quality, we obsolete .

Other terms should be purposely excluded because they are either overused, not true, or sound templated: innovative, groundbreaking, fresh, leader, unique. It is tough to know which words to stay away from; you don't want to make people doubtful and put their defenses up. One tip is to keep up-to-date with everything investors, businesses, and consumers see.

I have much more to say about this, but it could take up at least two more long blog posts. Here's a small list of currently neutral descriptive words for your business: functional, effectively, revitalizes, the original. "My business is a multinational corporation" could mean that I run a website.)
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Descriptions should appeal to each of the senses. (Copy is very important)

There are always tradeoffs. Know them.

"People who get MBAs learn how to draw timelines."

The ability to communicate effectively is your strongest asset.

When building for businesses, the ultimate goal is to either raise revenue or reduce costs.

"Engineers are not hired to create programs, they are hired to create business value."

Any more quick thoughts? What are your first thoughts? Then what are your second thoughts?
~ Simply Advanced ~



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