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Benno

Inspiring and unleashing a Passion for success

Building new Businesses

Building new Businesses

In today's highly competitive environments, companies that know how to actively identify new business opportunities—and structure a process that maximizes their bottom-line contribution—will have an advantage. 

A recent HBR article (click here) provides insight how you can begin to transform your company, by bridging external needs with internal capabilities and getting ideas from the market before taking them to market. 

Some firms will invest to integrate the strategy into the "way we do things" so they are prepared to find and develop innovations in unfamiliar environments. 

Others will choose to hire an expert business builder to build a new business for them—one that fits, that profitably integrates into the main business, one that will dramatically increase the overall enterprise value.  

1 comment (Add your own)

1. Amir wrote:
this, I would actually argue that our sytsem as it is has a lot of structural factors that *discourage* entrepreneurialism. Consider:- Many people would love to start their own businesses, but are trapped' by their employment benefits. For most people, if they leave their jobs, they lose their health coverage. This can not be glibly dismissed; the majority of bankruptcies in the country are the result of people who have bankrupted by hospital bills. - Banks have stopped lending to small businesses, despite record levels of profits and healthy capitalization. Even those with impeccable credit records and a good business history can not get loans right now.- Small businesses can not offshore the entirety of their LLCs or Corporations earnings and profits to Ireland and other tax havens, nor employ the tactics and high priced tax gurus- that larger corporations leverage to pay minimal to no taxes. - Whenever the government offers large companies a tax holiday to repatriate corporate taxes, they promptly buy back shares. Contrary to popular belief, they do not create new jobs. If they do, it's often in places like Mexico, the Caribbean, China or India (I know I worked as a consultant in the IT industry for years and spent a large portion of my time in New Delhi) This is rational. Wages are cheaper there. I hire VAs and Freelancers, and since I can hire anywhere in the world, I hire where the talent is good, plentiful and cheap. Corporations are obligated to provide profits to the shareholders not create jobs in America. That is capitalism. I wish *everyone* would start looking that reality, and realize that low corporate taxes on really large corporations have zero to minimal impact on the American job market. Small businesses, however tend to be local and hire people locally (except for internet businesses like mine!) If people want to support jobs, small businesses and entrepreneurialism in America they should focus their efforts on tax laws that give small businesses the kinds of breaks large corporations get.- University costs have gone up forcing many to choose between a lifetime of low wage work in sectors like retail, or going to college to get a degree (the statistics are clear that employment and income rise directly with level of education) If you graduate with a ton of debt, who feels secure enough to take a risk on starting their own business? Moreover, education goes hand in hand with being a good entrepreneur. Skills such as writing, communication, management, self-discipline and basic business skills can be learned without a college degree, but are hugely enhanced with higher education.- Lastly tax rates are lower for financial transactions and capital gains and higher for work that actually *produces* something. When I quit my day job, I sold a bunch of stock options (which I literally did NOTHING for) I paid 10% on that income. The income I generate by getting up every day and busting my hump (joyfully) on my small business is taxed at about 32% In this way static wealth' is favored, and production is punished. As an entrepreneur I don't find this encouraging!Finally, a new group of very wealthy people called the 1% has started to support the OWS because, like Warren Buffet, they see that there are disadvantages built into our sytsem that keep it from being a level playing field. There is a reason that in poll after poll, most people are sympathetic to the protestors, even if they don't entirely agree with their platform (which they actually don't have)Something is askew with our sytsem when even Warren Buffet, a paragon of success and prosperity, writes an editorial in the NYTimes on how our tax sytsem favors people with accumulated wealth, and how the super rich are being, to use his words, coddled'.I recently spoke at and attended a conference on small business and entrepreneurialism targeting a demographic that I'm sure would be largely sympathetic to the OWS movement. The conference had sessions on marketing, SEO, production, hiring staff, you name it. It was so inspiring. It was especially exciting to me because it became clear to me that entrepreneurialism and small business is something that really can transcend politics .and I'm so TIRED of politics. I hope that our culture can use this as an opportunity to explore new models for working and living rather than gravitate to the same tired polarized sides of the debate. There are massive structural changes in the world, in society and in our country right now. Something is afoot. I personally think it is exciting. I truly hope that we can all suspend our initial reactions to messages that may seem threatening or not in line with our own views to identify the problem that needs to be solved and the opportunities we are being given a chance to address.

Thu, July 12, 2012 @ 4:40 AM

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