How to Test Your Business Idea

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Passion! Conviction! Tenacity! Without these traits, few entrepreneurs could endure the challenges, the setbacks, the twists in the road that lie between their often path-breaking ideas – opportunities, as they call them – and the fulfillment of their entrepreneurial dreams.

The very best entrepreneurs, however, possess something even more valuable – a willingness to wake up every morning and ask a simple question about their nascent opportunity: ‘Why will this new business work when most will fail?’ Or, to put it more realistically, ‘What’s wrong with my idea, and how can I fix it?’

Overview: The Seven Domains, a Great Tool for Entrepreneurs

At its heart, successful entrepreneurship comprises three crucial elements: markets, industries and the one or more key people who make up the entrepreneurial team.

The seven domains model brings these elements together to offer a new and clearer way to answer the crucial question that every … Read more

Evolution of Business in the United States

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 I. Introduction

The history of modern American economy traces its roots in the 16th century when migrants from Europe came to settle in the country. At that time, the nation was inhabited by Native Americans — indigenous peoples who were recognized according to tribes. Prior to the arrival of European settlers, tribes traded among themselves.

When the Europeans came they established economic interaction with the natives through the barter or trading of commodities. Such interaction increased tremendously over time – thus becoming the cornerstones of commerce and the foundation of a nation. From the early trading systems, business in America progressed to more complicated and more comprehensive levels. Tracing these roots, from the early barter practices through the Industrial Revolution up until the Internet Revolution can help us better appreciate why America is the most powerful economy in the world today.

II. Bartering

The beginnings of business in America … Read more

Practice What You Preach – Business Culture

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Practice before you preach, practice what you preach and practice even after you stop preaching! These adages and their extensions couldn’t be more significant than in these times of personal branding. I can but try and capture the essence of this nebulous or amorphous essence of the word “brand” by saying that, a brand comes into existence when it is associated with a particular image of a person/ product/service, over a period of time and which shows the same qualities consistently which are unique and singular to that person, product or service irrespective of the time, place or situation.

The key operating word here is “consistency”. And consistency brings in credibility which in turn is inextricably associated with integrity, confidence and trust, in a person, product or a service.

That’s the power of a brand!!

I want to emphasise this by quoting Peter Montoya the author of the book, … Read more