Posts Tagged "report"

It is always worth paying attention to what is happening in other sectors, as it led to my success.


5 min read

Opinions expressed by Entrepreneur contributors are their own.


One of my major early obstacles as an entrepreneur starting hint was shelf life. In addition to not wanting to add sweeteners, I also did not want to add preservatives to our flavored waters. But, that is what everyone in the “drinks industry” does to get the long shelf life required by the retailers.

Related: Successful Leaders Know They Can Learn From Everyone at Their Company

Though we wanted the sales, ditching the unique selling point of our products wasn’t the answer. After a number of failed experiments, I heard about the flash pasteurization technique used in the juice industry. As we also use fruit, I thought that this process was a possible solution that would allow our products to have a shelf life like many other beverages in order to stay competitive.

This experience taught me that it is always worth paying attention to what’s happening in other sectors. Just like these five businesses that successfully learned from industries outside their own.

1. Bringing design to technology users

Apple has long been associated with bringing design thinking to the computer industry. But, perhaps even more significant is how the company revolutionized the user experience of portable music players. Early MP3 players were like a more functional Walkman. The iPod changed everything. It was beautiful, had an innovative yet intuitive interface and came with stylish headphones.

By introducing a more design-led and user-focused approach to the music player industry, Apple also laid the groundwork for its transformation of the mobile phone market.

2. Using data to predict hits

Which movies or TV shows make it to our screens is often down to the taste of an individual studio executive. Netflix disrupted the entertainment industry by bringing the science of data to artistic decision-making. When offered House of Cards as its first major production, Netflix checked the numbers. They showed that users loved the original BBC series, as well as movies starring Kevin Spacey and directed by David Fincher, suggesting a ready-made audience for the new show.

While creativity is a still an important factor, Netflix’s pioneering use of data in determining where to best invest their production dollars has delivered a string of hits.

Related: Don’t Study the Competition. Study Winners in Other Industries.

3. Finding marketing inspiration at a theme park

Burrow is changing the furniture market with its affordable, high-quality couches. The company maintains low prices by not having expensive real-world retail outlets. You can only buy Burrow products online. Yet people living in cities — a major target audience for the business — love window shopping. When Burrow CEO Stephen Kuhl visited Harry Potter World, the theme park’s interactive window displays inspired a way of filling his company’s marketing gap.

Burrow rented empty New York City storefronts and installed animatronic characters lazing on the company’s sofas. Passers-by could interact with these characters by text, creating a fresh buzz about the brand and reaching new audiences. All it needed was a pinch of theme park magic.

4. Adopting a pit crew approach to health care

Medical teams only have seconds to save the life of a premature baby that needs resuscitation. To ensure they were making the most efficient use of this brief time, some doctors and nurses in the U.K. studied Formula 1 motor-racing. The sport’s best pit crews change all four tires on a car in just two seconds, often the difference between winning and losing a race. The healthcare teams noticed how each individual in the pit crew has a clearly defined role, as well as the importance of working in a dedicated space that doesn’t have unnecessary equipment getting in the way.

Though motor racing and childbirth are unrelated activities, watching a pit crew in action helped these medical teams move faster and save more lives.

Related: 6 Sneaky Ways Your Competitors Are Keeping Ahead of You

5. Letting the clowns take control

Eyewear brand Warby Parker has a successful workplace program that allows the company’s engineers to decide which projects they want to work on. The program creates more engaged and productive employees and leads to the development of ideas that deliver better results. The increase in this kind of employee-led prioritization is often inspired by a research paper on Cirque de Soleil, which showed that circus performers were better than the company’s managers at choosing the most popular new acts.

Perhaps people on the front lines have better insight into what will work with audiences and customers. Or maybe that simply empowering them increases their motivation. Either way, letting the clowns pick your priorities can put a smile on everyone’s face.

Time to re-apply.

My belief in the power of learning from other sectors is strong. My own business has benefited from internal cross-industry inspiration. After seeing what we could do with putting fruit in water in order to make water more enjoyable with hint water, we applied that idea to skincare and recently launched hint sunscreen.

When you’re curious about other industries and keep an open mind, you’ll be surprised at how you can re-apply new ideas and technique to your world.


Source link

If we’re not failing, we are staying too safe. And you won’t grow unless you are constantly making yourself uncomfortable.


2 min read


Brought to you by Lewis Howes

So often we are afraid to go all in. Whether it’s in a relationship, in business or in an investment, the fear of failure keeps us from fully committing. What a mistake.

I’ve had to learn to love failure. I have to consciously tell my brain, “You’re going to fail. And it’s going to be OK.”

Take the leap. Make the commitment. Dare to take a stand.

If we’re not failing, we are staying too safe. And you won’t grow unless you are constantly making yourself uncomfortable.

On today’s episode of The School of Greatness, I dive deep into the idea of going all in when the time is right with one of the most successful investors in the world: Matt Higgins.

Higgins is a proven operator, investor and business builder with a knack for helping founders at pivotal growth moments achieve breakout success. He serves as CEO of RSE Ventures, a private firm that incubates and invests in companies across sports and entertainment, food and lifestyle, media and marketing, and technology.

Higgins co-founded RSE with Miami Dolphins owner Stephen M. Ross, the most prominent private developer in the U.S. and a serial entrepreneur. Together Higgins and Ross have helped build enterprises from scratch, including the largest privately owned soccer tournament in the world (International Champions Cup) and leading brand strategy and communications agency Derris.

Higgins didn’t graduate from high school. He came from a humble beginning but never let that hold him back from getting where he is today.

He says that when you do things your own way and you start with a blank page, it’s going to be a lonely journey. You have to trust yourself and be careful about the advice that you take.

So, get ready to learn what makes Higgins a great investor and why certain businesses are winners on Episode 727.

Subscribe on iTunesStitcher RadioGoogle Play or TuneIn.


Source link

A dinner meeting between President Trump and Chinese President Xi could cause a disruption in economic growth.


4 min read

Opinions expressed by Entrepreneur contributors are their own.


Thanks, China! U.S. stock prices rallied late in the day after Reuters reported that a Chinese trade official said that “consensus is steadily increasing” between U.S. and Chinese trade negotiators.

The Entrepreneur Index™ closed up 0.64 percent after trading within a narrow range for most of the day. The S&P 500 index was up 0.82 percent while the Dow and Nasdaq composite indexes were both up 0.79 percent.

Investors are eagerly awaiting the outcome of a dinner meeting tomorrow between President Trump and Chinese President Xi Jinping at the G20 economic summit in Buenos Aires. The ongoing tariff battles between the two countries are expected to hurt global economic growth. President Trump continues to send mixed signals on the potential for a deal, saying yesterday that the two countries were very close to an agreement, but that he wasn’t sure he wanted to sign it.

The bond market believes an economic slowdown is coming. The yield on the 10-year Treasury bond was down another three basis points to close at 2.995 percent, in part due to comments from Federal Reserve members earlier in the week that expressed concern with global growth and corporate debt levels. The 10-year bond yield hasn’t closed below three percent for more than two months.

With interest rates falling, high dividend-paying real estate investment trust (REIT) stocks posted solid gains on the Entrepreneur Index™. SL Green Realty Corp. (2.77 percent), Kimco Realty Corp. (2.64 percent) and Apartment Investment and Management Co. (2.04 percent) were all up on the day.

The technology sector was relatively quiet again today. Chipmaker NVIDIA Corp. had the biggest gain on the index, rising 3.86 percent. Investors have been worried about demand for the company’s high-end processing chips in part because of the crash of crypto-currency markets. NVIDIA’s chips are popular with crypto-currency miners. The stock lost half its value since early October, but has been trending up for the last week.

Fellow-chipmaker Analog Devices was up 2.68 percent and salesforce.com rose 2.18 percent. Netflix, which has been up sharply in the last three trading sessions was down 0.91 percent.

Tesla shares rose 2.75 percent after an electric vehicle blog site — Electrek — said the company had successfully ramped up production of its mass-market Model three sedan to 1000 cars/day. Most of the cars have been sold for more than the company’s $35,000 target price so far. Earlier this year, CEO Elon Musk said that selling the cars at that price before achieving higher production rates and lower costs could kill the company. Tesla shares are up 13 percent for the year.

Discount retailer Dollar Tree Inc. had one of the larger declines today, falling 1.88 percent after rising more than six percent yesterday. The biggest decline on the Entrepreneur Index™ was posted by O’Reilly Auto Parts, which fell 2.27 percent. Hess Corp. was also down 1.01 percent as the price of oil fell 1.48 percent today. Oil was down 22 percent in November, its worst month in more than ten years.

Other notable declines on the index included Chipotle Mexican Grill (-1.94 percent), retailer L Brands (-1.43 percent) and whiskey-maker B”>Brown-Forman Corp. (-1.2 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.


Source link

Deciding everything from which pay of socks to wear to which candidate to hire is cumulatively exhausting.


8 min read

Opinions expressed by Entrepreneur contributors are their own.


Making decisions, even small, seemly harmless ones, can wear us down over time. Every day we must decide how to spend every waking minute — what we eat and wear, what we work on, what we do with our spare time. By bedtime, the average person has made 35,000 decisions. Every decision requires time and energy, and depletes our willpower.

This is called decision fatigue, and it’s different from physical fatigue. You’re not consciously aware of being tired, but you’re low on mental energy. The more choices you make throughout the day, the harder each one becomes for your brain, and eventually it looks for shortcuts. This may cause you to become reckless in your decision-making, acting impulsively instead of thinking things through. Or you may simply do nothing, which can create bigger problems in the long run.

Luckily, there are plenty of ways you can keep this from happening. Learn you how can combat decision fatigue, replenish your willpower and boost your productivity during a decision-heavy day with these nine simple steps.

1. Make fewer decisions.

The best way to reduce decision fatigue is to reduce the number of decisions you have to make in a given day. Look for ways to streamline your choices. Avoid random decision-making by using lists throughout your day. To-do lists keep us on track. Shopping lists help us avoid walking up and down grocery aisles trying to decide what to buy.

Plan your meals the night before, so you know what you’re having for breakfast, whether or not you’re going to pack a lunch and what you’ll make for dinner. Stop trying on 10 different outfits in the morning; pick out your clothes ahead of time. Find ways to automate certain decisions, such as signing up for automatic bill pay for the regular bills. Instead of thinking through which route to take when driving somewhere, use a GPS to help you navigate where you need to go.

Related: Your Clients Have Decision Fatigue, You Caused It and It’s Killing Sales

2. Delegate decisions.

You can delegate decisions the same way you delegate tasks. By giving responsibility for decision-making to other people, you reduce the number of decisions on your plate. Consider your responsibilities in your home life, work and elsewhere. Are there obligations you can delegate to someone else? This means you’ll need to stop micromanaging those around you and have confidence that others will do their part.

Managers can delegate some decisions to employees. Parents can delegate certain things to children. There are times when we can delegate to friends and family. This could be as simple as asking a friend to put together a playlist for a party or asking the person you’re meeting up with to pick the restaurant for dinner. When done right, delegating can empower people and show them that you trust them.

3. Have a process for making decisions.

When you have to make difficult or important decisions and you have several options to weigh, use a decision matrix to help you make the best determination. A decision matrix helps you analyze your choices by listing the options and the factors you need to consider and then scoring it by the importance of each factor you are weighing. This may sound complicated, but once you get the hang of it, a decision matrix can be extremely helpful.

A decision matrix can clear up confusion and remove emotion when you’re faced with multiple choices and countless variables. Unlike a simple list of pros and cons, a decision matrix allows you to place importance on each factor. Here’s one great example of a decision matrix template you can use.

4. Make big decisions in the morning.

Researchers have found that time of day impacts our judgment and our ability to make the best decisions. It might seem to make sense that morning people make their best decisions in the morning and night owls make their best decisions at night, but researchers have found this just isn’t so. For most of us, the best time of day is in the morning — that’s when we make accurate and thoughtful decisions. By afternoon, most people hit a plateau, and in the evening, we start making riskier snap decisions.

According to the study, people tend to change their decision-making policies throughout the day. In the morning, they tend to be more cautious and meticulous in their choices. But as the day wears on and decision fatigue sets in, they start making riskier decisions. So if you have a have a big decision that requires careful consideration, aim to make it in the morning.

Related: This Entrepreneur Shares Her Surprising Secret to Fighting Decision Fatigue

5. Limit your options.

Having too many choices will stress you out. You become mired in your decision-making and start second-guessing yourself. This often happens when we’re making purchases and are faced with endless options and alternatives. Our decision fatigue is heightened by our desire to “shop around” and get the best deal. It all takes up so much energy and overloads the brain.

Try paring down your options, so you have a limited number of choices. Often, the benefit of spending a great deal of time investigating a wide range of choices is negligible — you might save a few dollars, but you’ll end up feeling anxious and overwhelmed. Instead, pick two or three to compare and don’t spend too much time wading through the pros and cons. Make a decision and stick to it.

6. Set deadlines to space out decisions.

Decision fatigue can often occur toward the end of a long, complex project that you’ve been working on over weeks, months or years. As the end of the project looms, there may be many last-minute decisions to make, which you’ve been putting off until now. This is when people start making snap decisions and bad choices because the length and intensity of the project have worn them down.

The solution is to create micro-deadlines that force you to act early and not keep pondering your choices. Don’t set yourself up to make critical decisions at the eleventh hour. Space out these decisions so you’re truly using your best judgment.

7. Simplify your life.

Constantly needing to make decisions can leave you feeling depleted and eat away at your willpower. That’s why, after a busy, exhausting day, we’re tempted to eat junk food, skip our workout and veg out on the couch. Making healthy choices just seems beyond our self-control. If this is you, it’s time to scale back. Find ways to simplify your life. Cut out things that aren’t important.

Hobbies, activities and volunteering are all great and wonderful things to do, but if you’ve reached the point where you’re overwhelmed, it’s time to drop the excess commitments in your life. Having fewer tasks and activities will lead to fewer decisions and will help you feel restored and in control of the choices you do make.

Related: Why You Should Limit Your Number of Daily Decisions

8. Stop second-guessing yourself.

We often get trapped in the mindset that everything we do needs to be perfect, and this puts a lot of pressure on us to make the “right” choice, because a “wrong” choice could somehow ruin something. The truth is, this is rarely the case. Still, we regret our choices and wallow in uncertainty over the selection we made. It’s time to let go and move on.

Stop second-guessing yourself. Stop going back and pondering your choices to see if you like something else better — that will only make you regret all the time you’ve wasted. And most likely, the choice you made to begin with, the path you picked or the selection you opted for, is just as good as any other option out there. Now you need to focus on making it great.

9. Develop daily routines that put less-important tasks on autopilot.

Establish daily routines that minimize and simplify your choices. By having firm habits and a strict routine, you put certain decisions on autopilot. Set a wake-up time and stick with it. Instead of debating whether you should work out or not, have a routine that establishes what days and at what time you exercise.

Eat a variation of the same healthy breakfast every morning. Pack a simple lunch every day. Instead of agonizing over what to wear every morning, have established outfits that you rotate each week. Many successful people have a handful of go-to outfits. President Barack Obama talked about wearing only gray or blue suits while in office so he didn’t have to give too much thought to what he would wear.

Steve Jobs was known for his black turtlenecks and jeans, and Mark Zuckerberg sports his iconic gray Brunello Cucinelli T-shirt. Whatever your preferences, make it a routine. Doing all this will help you waste less time and create consistency in your life so you know exactly what comes next without a lot of thought. It will also help you conserve your willpower and give you self-control.


Source link

Tech stocks are up big today, and it’s not hard to see why.


3 min read

Opinions expressed by Entrepreneur contributors are their own.


Cyber Monday put a jolt in the stock market today.

Data from Adobe Analytics suggest that America may have had its biggest online shopping day in history, as consumers flocked to take advantage of online deals today.

The equity markets liked the action. With Amazon and technology stocks leading the way, the Entrepreneur Index™ was up 2.25 percent for the day, with 56 of 60 stocks on the index posting gains. The Nasdaq composite index was up 2.06 percent, while the Dow and S&P 500 indexes were up 1.46 percent and 1.55 percent respectively.

Technology stocks, the hardest hit segment of the market in the last two volatile months, posted some of the largest gains on the day. Amazon.com, the biggest online retailer in the world, was up 5.28 percent. Twitter was also up 5.43 percent. None of the 13 tech stocks on the Entrepreneur Index™ were down today.

The biggest gain in the sector was posted by chipmaker NVIDIA Inc., possibly the most volatile stock in the market this year. It was up 5.52 percent after a Credit Suisse analyst initiated coverage with an outperform rating, suggesting that the nearly 50 percent drop in the stock price

over the last two months has created a great buying opportunity for investors.

Related: Tech Stocks Continue to Tumble, With Precious Few Exceptions

Wynn Resorts, another extremely volatile stock this year, was up 6.89 percent today — the biggest gain on the Entrepreneur Index™. The gambling environment in Macau, where Wynn operates three casinos, was once again the reason for the move in the stock price. Brokerage firm Sanford Bernstein increased its forecast for November gambling revenue in Macau to seven percent to eight percent from an earlier estimate of two percent to four percent. Wynn’s shares are still down 34 percent for the year.

Tesla shares were up 6.19 percent today after another unusual interview with CEO Elon Musk aired on HBO yesterday. Musk said that earlier this year Tesla was only weeks away from death due to the rocky production ramp-up of the company’s Model three sedan. He also said he plans to take a trip to Mars when the opportunity presents in the future.

L Brands, makers of Victoria’s Secret lingerie, appeared to be a big winner in the early holiday shopping season. The stock was up 6.74 percent today, though it is still down 47 percent so far this year.

Other major gains on the Entrepreneur Index™ were posted by TripAdvisor Inc. (4.36 percent), Regeneron Pharmaceuticals (3.61 percent), Jefferies Financial Group (3.61 percent) and Under Armour Inc. (3.35 percent).

Only six stocks on the index had declines today. The largest was registered by food-maker J.M Smucker Company, which was down 1.54 percent. Chipotle Mexican Grill was down 1.15 percent, and oil and gas producer Hess Corp. was down 1.03 percent, despite a more than two percent rally in the price of oil today.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.


Source link

Copyright © 2014 - 2021 Intellixa | All Rights Reserved
×