StartUp: Who Is Your Competition? | Carson City Nevada News – Carson Now

 

While this strategy does not seem novel, the large majority of start-ups never complete this simple but powerful exercise. Simply talking with people, surveying potential customers, or getting feedback from customers of your competition will provide a wealth of information and value. The key is to be open and unbiased with the responses you receive — it is better to find out there isn’t a need for your product or service than to sink all your savings and time into a business that is destined to fail.

 

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IdeaSpark! — The Craft of Great Business Ideas | Carson City Nevada News – Carson Now

 

Pet Rocks, 1-800-Flowers, Facebook–we’ve all heard of a widely successful company with a product or service that is so simple, we think, “I could have come up with that.” But could you? The answer is “yes.” There is no magical, proven standard or formula for coming up with the next great idea for a business. When it comes to innovative , the “ah-ha” moment can best be realized by utilizing a few simple, but very powerful and effective techniques to you come up with the next big thing…

First of all, the best ideas are those that stem from your life; be it work, hobbies, or general everyday experiences. If the idea directly impacts your life, you will be able to better determine if it is a truly great idea. Great ideas are also simple to explain. If you can’t explain your idea to a stranger in a minute or two and have them understand it, it is likely not a great idea.

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Start Up: Succeed by Failing | Carson City Nevada News – Carson Now

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The fear of failing stops many people from pursuing what could be amazingly successful opportunities. After all, who likes to fail? When you are talking about a business, failure can be a humiliating experience, as well as costly.

Have you ever heard of the Detroit Automobile Company? Probably not, because it went bankrupt in 1901. But you probably know its founder, Henry Ford. His second car company also failed. Even after going bust twice, Ford managed to attract enough investor dollars to get the Ford Motor Company off the ground.

Walt Disney was fired from his job as a newspaper cartoonist because he “lacked imagination and had no good ideas.” Imagine if he had quit after that failure?

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Start Up: Faster, Better, Cheaper… | Carson City Nevada News – Carson Now

 

In business, we often hear about companies that seem to come out of nowhere to become a big success. We see it locally in companies like Bentley Systems or Click Bond. We also see the Facebook’s and Alibaba’s of the world that seem to defy the laws of traditional business growth to become the mega-companies that rival 100 year old economic stalwarts like AT&T and GM.

 

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Start Up: What’s the real difference between Small Business Owners and Entrepreneurs? | Carson City Nevada News – Carson Now

If you would like to know the between entrepreneurs and small business owners, click on the link to read this great article by Dr. Robert Whitcomb.

In my Introduction to Business class at Western Nevada College, we’ve recently completed our module on Entrepreneurship. Every time I cover this topic, the same question arises: Aren’t entrepreneurs and small business owners the same? The truth is, though most entrepreneurial ventures begin as small businesses, not all small business owners are entrepreneurs.

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Start-Up: Avoid common legal pitfalls for start-up companies | Carson City Nevada News – Carson Now

 

No one wants to think about the “worst case scenario” in the heady days of a new business venture. But, before your start-up company does its first day of business, there are basic legal issues you should address to avoid complications down the road.

 

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