Learn By Example from the Startup Playbook

Startup_PlaybookLaunching a startup is a never-ending learning experience of what to do and what not to do when starting a new business venture. Aspiring entrepreneurs will never know what to expect unless they either start from scratch and learn by themselves or look at what others have already done and hope to profit from their experiences.

The “learning from others” approach is the premise behind a book called The Startup Playbook: Secrets of the Fastest Growing Startups from Their Founding Entrepreneurs by David Kidder.

In the Startup Playbook, Kidder, who is an entrepreneur, offers his own success formula for starting a business by relying on the experiences of highly profitable ventures that started from very modest beginnings.

Kidder demonstrates his lesson-learning approach by illustrating famous success stories from entrepreneurs such as Chris Anderson, who became famous through a publishing startup that built an important niche with broad online support; Charles Best, who made money by developing a philanthropic marketplace where people could meet to raise money; and Tom Gardner, who launched Motley Fool to make tons of money by charging a modest flat fee for high quality investment advice.

The Startup Playbook delivers plenty of examples of how to take a product from concept through to full implementation while making money on practical ideas that work. Overall, the book serves as a helpful resource for anyone with a new idea that seeks to commercialize it and reap the benefits of happy customers and large profits.

Source: BlogCritics.org Book Review: The Startup Playbook by David Kidder

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Developing Mental Habits for Business Success

Street_SmartsWhen it comes to starting a business, you always want to follow the proper guidelines to make sure your startup will grow and become a successful venture.

The truth is, there are no set rules to follow, according to Street Smarts: An All-Purpose Tool Kit for Entrepreneurs, a business strategy book written by Norm Brodsky and Bo Burlingham, columnists for Inc. magazine.

Brodsky and Burlingham say there are “mental habits” that can help street-smart entrepreneurs grow their business, resolve problems and pursue opportunities as they arise.

For example, many new business owners start out with the primary goal of growing their company, usually for no other reason than believing that’s what they are supposed to do. However, the book’s authors say, “You don’t have to grow at all if you don’t want to… there’s no rule of business that says you must.”

Street Smarts includes many helpful ideas and concepts for would-be entrepreneurs who are in the process of honing their ideas, and establishing a direction and goals for their own business.

In her review, Palletenterprise.com’s DeAnna Stephens Baker explains how the book does a good job of avoiding abstract ideas. Instead, the authors modify their best advice in the form of a comprehensive guide for managing a variety of businesses.

The book delivers a worthwhile read that’s full of real stories, examples and details that explain how anyone can apply their business ideas in real-life situations.

Brodsky is a veteran entrepreneur who has founded and grown six businesses. Along with Burlingham, he has chronicled his entrepreneurial journey in his column in Inc.com.

Source: PalletEnterprise.com

Examine Your Own Skills to Find Business Ideas

A love affair with fashion inspires a Singapore duo to start a dressmaking business.

Jade Swee and Letitia Phay, dress designers

Are you interested in starting your own company but worried about where to find a viable business idea? You don’t have to look far. Your skill set may be all the inspiration you need. If your talent is something that is marketable, it could be an opportunity.

Many people are inspired by a life experience that ignites their passion to pursue entrepreneurship. An example of this is Singapore dress-makers and designers, Letitia Phay and Jade Swee, who decided they were so much in love with the art of making a dress that they started their own label, Time Taken to Make a Dress (TTMD).

The two met when they were both working in the same bridal studio, and decided to strike out on their own to try their hands at creating their own designs.

While Swee has a design background, Phay was solely motivated by her love for the craft of making a dress to join the industry after she graduated from school.

In the following excerpt from the article, Time Taken to Make a Difference, OnlineToday.com writer Francis Kan describes what motivated Swee to pursue the idea that spawned a successful clothing company.

At age 13, Ms. Jade Swee made her first dress using her grandmother’s sewing machine, a simple flora print affair for a younger sister. The act of creating something by hand inspired in her not only a love affair with fashion, but a devotion to quality craftsmanship.

That initial spark was fanned by her grandmother, from whom she learned traditional Peranakan crafts such as making beaded slippers.

More than a decade later, Ms Swee, 29, parlayed that passion and several years of working experience into Time Taken to Make a Dress (TTMD), a dressmaking business she set up with partner Letitia Phay, 28, in 2010.

“I used to follow my grandmother everywhere, observing her cooking and sewing. She taught me how to draft by drawing a dress on a newspaper. That was a very big part of how I got my skill even before fashion school,” she told TODAY.

The pair noticed a disturbing lack of attention being paid to the technical aspects of the business; the roll-your-sleeves up, backroom grind of putting together a garment that many young designers shied away from.

Read the full article on TodayOnline.com.

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Clothing Company Business Idea

If you’re wondering how to start a clothing company, there are a couple of key questions you need to answer before you get too far into this business.

To get started, you must first decide whether you plan to design and make your own clothing or source your clothes from other designers or wholesalers.

You also must determine whether you plan to operate entirely online, out of a physical retail store, or a combination of both – known as a “brick and click.”

Planning For How to Start a Clothing Company

Most people want to learn how to start a clothing company because they have a passion for fashion and would like to pursue their passion full-time.

Like any other business, learning how to start a clothing company begins with a business plan.

Visit MySmallBiz.com for more details about the business planning and key activities to get your clothing company started.

5 Ways to Hatch Your Next Business Idea

In his book “Maverick Startup,” serial entrepreneur Yanik Silver lays out his “X Factors” for turning your big idea into a profitable business, without taking on debt, partners or even a business plan. In the following excerpt, Silver guides readers through X-Factor No. 1: Developing a big idea.

If you don’t have a big idea, you simply fade into the background like every other “me- too” product or service. It’s not always about having a proprietary product or service. This is really more about positioning and a prospect’s immediate reaction to your product.

That’s one of the key elements of the big idea — gut reaction. With our world being busier than ever, people usually don’t have time to explore absolutely everything about a product or service. We use shortcuts for our decision-making. The more clearly you can distinguish your product or service, the better you’ll do in the crowded marketplace.

Working on your big idea is critical and means the difference between a “base hit” or a “home run” product. What follows are five major things I keep in mind when coming up with a big idea or hook.

See the full story on Entrepreneur.com