You Don’t Need a New Idea to Start a Business

Many people who want to start the entrepreneurship journey get stuck at a point where they think that they need a brand new idea to start a business. Good ideas are important, but not mandatory to start a business. Most of the time, we see startups with new ideas being highlighted in the media. Media loves stories of how a simple idea changed everything and such stories have a lot of demand in the market. It installs hope in people that they can also start something – if they just had the right idea. To be honest, having good ideas …

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How to Generate High Quality Converting Leads on a Budget

One of the biggest challenges that business owners face with lead generation is that they are not able to generate high-quality leads at a low cost. When business owners want fresh leads for their business that convert into sales, they usually depend on a Facebook Ads or Google Ads campaign to generate the leads. Business owners complain that Facebook ads give low-cost leads but it does not convert. And some of the leads from Google ads are high quality leads that convert, but the cost of the leads are very high. There is no magic formula to reduce the cost …

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Build Fast and Sell Fast. Don’t be a Perfectionist.

When entrepreneurs build products and services, they need to strike a balance in the level of perfection they can practically achieve and still manage to sell the product. If you ship a product into the market that is sub-standard, people are not going to care. If you try to build the most perfect product, you will never be able to complete building it. Unfortunately, most of the entrepreneurs today live in the extremes. It’s a good thing to create a perfect product, but if you are too much of a perfectionist, your product will never mature to a stage where …

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Collaboration will Always Beat Competition

Competition is a good thing. It pushes businesses to create better products and services at a cheaper cost. But sometimes competition can become unhealthy. In the pursuit of trying to gain the maximum marketshare, businesses cross ethical and moral boundaries for profits. A well known example of such a business is VW. They installed defeat devices in their cars which have lower emissions during test conditions and have higher N2O emissions on the road. Competition can drive corporations to do things that can take the human race backwards. Such activities arise out of the thought process that you can get …

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Entrepreneurship Demands a Healthy Mind and Body

There is a lot of hard work in making a business work. As the business grows, it creates a lot of foundations and assets. Within a few years, a business starts growing roots and becomes more stable. The business depends on many foundations, but the biggest asset of a business will always be its founder. If the founder cannot continue working to grow the business, the business might fail. Very big corporations which seemed to big to fail have shut down in the past when the founder was no longer involved. It is very rare that a founder will choose …

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