Predictability is one of the most important attributes of any business. Owners, investors, and acquirers all want to be able to see a reliable stream of profits well into the future.
But almost by definition, predictability can be boring. Those same owners, investors, and acquirers want to see growth, which comes from selling new products and services and/or winning new customers.
So can you be predictable and innovative at the same time?
I put the question to Toronto-based Jeremy Gutsche, author of Exploiting Chaos and founder of TrendHunter.com, a business that tracks emerging trends for customers like Google, Pepsi, and Cadbury.
Based on my conversation with Gutsche, here are five ways to make sure your company doesn’t become boring on the journey to becoming valuable:
1. Set up a gambling fund.
Put aside some money to gamble on new ideas. When the BBC, the U.K.’s national broadcaster, was stuck in a programming rut, it set up a gambling fund for ideas that failed the usual new-program screening process. Producers could apply for gambling funds if their idea was cut, which is how The Office, one of the BBC’s most successful programs of all time, was funded.
2. Think like a portfolio manager.
Like a money manager, envision your business as a portfolio of investments balanced to generate the best risk-adjusted reward over the long term. Gutsche recommends having some areas of your business that are reliable and predictable while reserving part of your portfolio for trying new things.
3. Reward sound decisions.
Most companies pay their employees based on results and outcomes, which means the best employees want to work in the mature area of the business that is most likely to generate good results in a predictable way. It also means your best employees stop taking risks. Instead, Gutsche recommends you reward good decisions rather than outcomes. If you reward based on decisions, you can still incent employees to try things that may be risky as long as their decision-making is sound.
4. If you’re small, act big; if you’re big, act small.
Small companies often have lots of ideas, but customers can be hesitant to be the first one to try them. Gutsche recommends small companies merchandise their client list and media hits to build credibility. Gutsche himself projects a larger-than-life image. If you go to TrendHunter.com, you’ll see a “who’s who” list of marketers, from eBay to Microsoft, which Gutsche says gives visitors confidence to take a flyer on his business that’s only been around since 2006.
Likewise, Gutsche suggests the big guys act small by carving off new products into separate companies. Similar to the way RBC and BMO launched their credit card processing joint venture under the Moneris moniker, have a separate brand and stand-alone workspace to give your new business units an entrepreneurial feel.
5. Give your employees playtime.
Set aside some company time each week or month for employees to use to work on pet projects. 3M, of Post-It note fame, popularized this technique, which has since been adopted by companies like Google and Amazon, who give their engineers time to tinker.
By following Gutsche’s advice, you may just be able to create a predictable-growth company, which is the most valuable company of all.
John Warrillow is a writer, speaker, and angel investor in a number of start-up companies. He writes a blog about building a sellable company at http://www.BuiltToSell.com/blog. You can also follow him on Twitter at @JohnWarrillow.
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eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
Predictability is one of the most important attributes of any business. Owners, investors, and acquirers all want to be able to see a reliable stream of profits well into the future.
But almost by definition, predictability can be boring. Those same owners, investors, and acquirers want to see growth, which comes from selling new products and services and/or winning new customers.
So can you be predictable and innovative at the same time?
I put the question to Toronto-based Jeremy Gutsche, author of Exploiting Chaos and founder of TrendHunter.com, a business that tracks emerging trends for customers like Google, Pepsi, and Cadbury.
Based on my conversation with Gutsche, here are five ways to make sure your company doesn’t become boring on the journey to becoming valuable:
1. Set up a gambling fund.
Put aside some money to gamble on new ideas. When the BBC, the U.K.’s national broadcaster, was stuck in a programming rut, it set up a gambling fund for ideas that failed the usual new-program screening process. Producers could apply for gambling funds if their idea was cut, which is how The Office, one of the BBC’s most successful programs of all time, was funded.
2. Think like a portfolio manager.
Like a money manager, envision your business as a portfolio of investments balanced to generate the best risk-adjusted reward over the long term. Gutsche recommends having some areas of your business that are reliable and predictable while reserving part of your portfolio for trying new things.
3. Reward sound decisions.
Most companies pay their employees based on results and outcomes, which means the best employees want to work in the mature area of the business that is most likely to generate good results in a predictable way. It also means your best employees stop taking risks. Instead, Gutsche recommends you reward good decisions rather than outcomes. If you reward based on decisions, you can still incent employees to try things that may be risky as long as their decision-making is sound.
4. If you’re small, act big; if you’re big, act small.
Small companies often have lots of ideas, but customers can be hesitant to be the first one to try them. Gutsche recommends small companies merchandise their client list and media hits to build credibility. Gutsche himself projects a larger-than-life image. If you go to TrendHunter.com, you’ll see a “who’s who” list of marketers, from eBay to Microsoft, which Gutsche says gives visitors confidence to take a flyer on his business that’s only been around since 2006.
Likewise, Gutsche suggests the big guys act small by carving off new products into separate companies. Similar to the way RBC and BMO launched their credit card processing joint venture under the Moneris moniker, have a separate brand and stand-alone workspace to give your new business units an entrepreneurial feel.
5. Give your employees playtime.
Set aside some company time each week or month for employees to use to work on pet projects. 3M, of Post-It note fame, popularized this technique, which has since been adopted by companies like Google and Amazon, who give their engineers time to tinker.
By following Gutsche’s advice, you may just be able to create a predictable-growth company, which is the most valuable company of all.
John Warrillow is a writer, speaker, and angel investor in a number of start-up companies. He writes a blog about building a sellable company at http://www.BuiltToSell.com/blog. You can also follow him on Twitter at @JohnWarrillow.
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Deadpool: Secret Invasion HC is one of those titles that was printed pretty much to order before the recent boom... - How To Make Money Fast In Comics by Rich Johnston #2: Yellow Rage There are lots of Yellow Rings as part of the Blackest Night promotion available. Those who couldn’t get one because their shop wouldn’t order...
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The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
Predictability is one of the most important attributes of any business. Owners, investors, and acquirers all want to be able to see a reliable stream of profits well into the future.
But almost by definition, predictability can be boring. Those same owners, investors, and acquirers want to see growth, which comes from selling new products and services and/or winning new customers.
So can you be predictable and innovative at the same time?
I put the question to Toronto-based Jeremy Gutsche, author of Exploiting Chaos and founder of TrendHunter.com, a business that tracks emerging trends for customers like Google, Pepsi, and Cadbury.
Based on my conversation with Gutsche, here are five ways to make sure your company doesn’t become boring on the journey to becoming valuable:
1. Set up a gambling fund.
Put aside some money to gamble on new ideas. When the BBC, the U.K.’s national broadcaster, was stuck in a programming rut, it set up a gambling fund for ideas that failed the usual new-program screening process. Producers could apply for gambling funds if their idea was cut, which is how The Office, one of the BBC’s most successful programs of all time, was funded.
2. Think like a portfolio manager.
Like a money manager, envision your business as a portfolio of investments balanced to generate the best risk-adjusted reward over the long term. Gutsche recommends having some areas of your business that are reliable and predictable while reserving part of your portfolio for trying new things.
3. Reward sound decisions.
Most companies pay their employees based on results and outcomes, which means the best employees want to work in the mature area of the business that is most likely to generate good results in a predictable way. It also means your best employees stop taking risks. Instead, Gutsche recommends you reward good decisions rather than outcomes. If you reward based on decisions, you can still incent employees to try things that may be risky as long as their decision-making is sound.
4. If you’re small, act big; if you’re big, act small.
Small companies often have lots of ideas, but customers can be hesitant to be the first one to try them. Gutsche recommends small companies merchandise their client list and media hits to build credibility. Gutsche himself projects a larger-than-life image. If you go to TrendHunter.com, you’ll see a “who’s who” list of marketers, from eBay to Microsoft, which Gutsche says gives visitors confidence to take a flyer on his business that’s only been around since 2006.
Likewise, Gutsche suggests the big guys act small by carving off new products into separate companies. Similar to the way RBC and BMO launched their credit card processing joint venture under the Moneris moniker, have a separate brand and stand-alone workspace to give your new business units an entrepreneurial feel.
5. Give your employees playtime.
Set aside some company time each week or month for employees to use to work on pet projects. 3M, of Post-It note fame, popularized this technique, which has since been adopted by companies like Google and Amazon, who give their engineers time to tinker.
By following Gutsche’s advice, you may just be able to create a predictable-growth company, which is the most valuable company of all.
John Warrillow is a writer, speaker, and angel investor in a number of start-up companies. He writes a blog about building a sellable company at http://www.BuiltToSell.com/blog. You can also follow him on Twitter at @JohnWarrillow.
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Well, what with everyone getting a credited column on this site, I thought I might as well have a go. And yes I know... - Make Money Fast – Buy Deadpool Secret Invasion HC Now Okay, here’s a possible opportunity.
Deadpool: Secret Invasion HC is one of those titles that was printed pretty much to order before the recent boom... - How To Make Money Fast In Comics by Rich Johnston #2: Yellow Rage There are lots of Yellow Rings as part of the Blackest Night promotion available. Those who couldn’t get one because their shop wouldn’t order...
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger eric seiger
eric seiger
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
big seminar 14
Let's take a pair of brand new True Religion jeans to use as our example for this article on how to double your money on eBay - and how to keep making money to buy more products! You can do this with any hot selling item - I am going to use a few different things to show you how this can easily be done, and how to make money, not loose money when selling on eBay.
So say you find a pair of jeans, True Religion - a great name brand that's almost guaranteed to sell on eBay for half of what they're worth, say $100. (They're worth more than this, I know - but I'm going to use some even numbers to keep this as simple as possible for you to read.) So you buy the jeans on sale for say $50 - you can try to double your money by just doing a Buy It Now price, or just start them at the $50 you originally bought them for - and see how much money you can pull in. Sometimes, auctions bring in more money if there is a bidding war. Now, we're going to say that these True Religion jeans sell for $90.00. With all the eBay fees and PayPal fees deducted by using a free eBay Fee Calculator I found online, you're profiting about $30.
Now, we're going to look at it this way, you buy five pairs of those jeans at $50 each ($50 X 5 = $250 of your own money) and sell them all at an average of the same stated monies above. You profit $30 a pair, ($30.00 X 5 = $150 profit), plus all the money back you originally used to buy the fives pairs. Putting out a small investment can generate consistent income if you follow something along these lines. It's just all about consistency. So if you take your $400 you have now, (the $250 you made back from the jeans plus the $150 profit you made from them), you reinvest that $400 into more jeans - with $400 you could buy 8 pairs now. ($400 / $50 = 8) Keep using this technique - and be careful to keep your money aside to just keep buying new inventory, in order to make new money. After a month or two of following this technique to double your money on eBay, you will soon have enough capital to just keep buying, and use your extra profit money for yourself, bills, entertainment, etc.
This doubling technique can even be done with $100 - it's basically a way of flipping items on eBay, and can be used with any product you think or know will sell, you just must do your research ahead of time or have some experience to know what will sell and what won't. Some items you can fully double your money on when it comes to selling on eBay - it's just matter of how cheap you can buy the item in order to double your money. Ever here of "Buy Low, Sell High?" My point exactly, the lower you can get it - the more your profit off of what you sell on eBay will be. The more chances you have of making 50-100% your money back.
This technique can also be done with selling smaller, cheaper products. The trick is to buying them wholesale or in bulk. My favorite place to buy these items are actually on eBay.com itself. I find all kinds of stuff for cheap, just type in "Wholesale" or "Resell" or "bulk" and see what comes up - and buy what you think might sell. It is a lot about trial and error - but remember, it can't hurt to try, and you won't know until you try it. So say you run into Hello Kitty phone charms, 20 pieces for $10. From what I know, phone charms, especially Hello Kitty ones are quite expensive around me, about $5.95 for one. If you bought them at the 20 pieces for $10 - you'd be getting each phone charm for 50 cents, your final cost, you just have to do the math before you buy to see how cheap you're really getting the item for. Then, it is time to decide how much you want to sell your phone charms, or whatever it may be, on eBay. If you sell the Charms for $2 each, ($2 X $20 = $40) you just made a $30 profit on the phone charms - more than doubling that $10 you put out to sell them on eBay! See how easy it is? It's all about finding the right product, at the right price, at the right time! Good luck doubling your money on eBay!
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/5 - Arrowhead Pride
Good morning! Almost there. Here's your Kansas City Chiefs news. Enjoy.
Fox <b>News</b> Ratings on Election Night Beat Networks - NYTimes.com
The Fox News Channel's midterm election coverage attracted more viewers than any of the broadcast networks' coverage, according to the Nielsen Company.
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
eric seiger
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