Does your new business idea fit cultural norms?

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

An Italian family opened a package from the US that was sent by an aunt who had immigrated there. Inside the package was a jar of dark powder. The mother thought it was an exotic spice and made a pasta sauce with the powder. The family ate the meal and enjoyed the flavour of the powder. But they were horrified some time afterwards when they received the letter from the aunt explaining that they should expect the uncle’s cremated remains soon.

Perhaps a tall story? But it does illustrate how cultural norms or cultural filters allow people to even see a jar of cremated ashes as a jar of delicious spices.

Cultural filters determine how we view even the most simple of objects. How have you been led to make decisions because of cultural norms? Have you considered cultural moms or filters when trying to introduce a new product or service? Continue reading “Does your new business idea fit cultural norms?”

How do you pick yourself up after failing in your startup?

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

One thing that isn’t spoken about a lot in entrepreneur circles is getting up after your falls. An entrepreneur and Shark Tank investor Barbara Corcoran told Associated Press recently that she had learnt that the most important trait you need as an entrepreneur is when you take a hit to not feel sorry for yourself.

Barbara at age 65 should know. Her career included being the founder of a New York real estate brokerage. Now she is reinventing herself as an author and TV personality after selling her company. She says that the best entrepreneurs when they take a hit bounce back and say, “hit me again.” Continue reading “How do you pick yourself up after failing in your startup?”

5 ways to juice up your start-up idea

 Credit: Wikimedia Commons / Public Domain
Credit: Wikimedia Commons / Public Domain

A London cabbie driver was given two tickets to a West End show. He found out a bit about the show and realised it wasn’t for him. He thought that someone else might enjoy the show much more than he would so he left the two tickets on the back seat of his taxi. At the end of his working day, he took a look at his back seat to see if the tickets were gone. What he found was two tickets for the same show placed together with the ones that he had left on his back seat.

This may be another tall story but it highlights the need to come up with things that people really want. A West End show is much a product or entertainment solution as any product you may buy from your local supermarket or from an online retail store.

New business ideas for a start-up or boot-strapped business need to count. A bad idea that is the basis for a new product or service simply isn’t going to make money. But what’s a bad idea? Let’s rather flip that into a more positive statement: what makes a good idea? Continue reading “5 ways to juice up your start-up idea”

Are you an explorer, artist, judge and warrior for new ideas?

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

For the beginner, the person just starting out looking for entrepreneurial ideas you may not know where to start. If ideas don’t come to you easily perhaps what could help is a framework for the different roles that entrepreneurs take on when generating, evaluating and implementing ideas.

Roger von Oech in his book “A Wack on the Side of the Head and A Kick in the Seat of the Pants” suggested four specific roles for entrepreneurs who want to come up with ideas, evaluate the best ones and then put them into action. The four roles are: Continue reading “Are you an explorer, artist, judge and warrior for new ideas?”

A danger that lurks inside some small businesses

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

A woman in her 30s pleaded guilty some time back to stealing more than one million from a small business to fund her lavish lifestyle. At the time that she stole from the small business the woman was employed as the manager of the firm.

A fatal flaw was that this person held the passwords to the owner’s bank accounts. This enabled her to make electronic transfers from both accounts. She siphoned off the money before she was caught out. Continue reading “A danger that lurks inside some small businesses”

How would you describe your character type as an entrepreneur?

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

A study some time back looked at the characteristics of an entrepreneur. What the researchers found was that entrepreneurs tend to be highly creative, daring decision-makers, visionary, usually the first-hand born child, imaginative and have a high need for achievement.

Yet the study also show the shadow or dark side of the entrepreneurial character including that they may be stubborn and resist change, typically not be the best manager, and although imaginative may be rigid. The researchers also noted that the entrepreneur may have had massive psychic upheavals as a child. Continue reading “How would you describe your character type as an entrepreneur?”

If you can’t make it onto Shark Tank or Dragon’s Den, what questions would you ask about your start-up?

Cape Fur Seal, Kalk Bay Harbour. (Copyright © 2014 by Chesney Bradshaw, all rights reserved)
Cape Fur Seal, Kalk Bay Harbour. (Copyright © 2014 by Chesney Bradshaw, all rights reserved)

Only a handful of entrepreneurs and start-up founders make it to entrepreneurial TV shows like Shark Tank or Dragon’s Den. That’s mainly a function of limited time and availability of strong start up ideas. If you can’t get onto the shows, what questions could you ask yourself about your small business idea?

You may be the main investor in your own start-up business and to increase your chances of success, it may be a good thing to ask yourself some of the hard-nosed questions that are asked on these shows. But you may also seek funding from crowdfunding organisations that are starting to grow all over the world. Just recently I saw that a coffee shop chain in China that is trying to raise US100 million. The experts say that equity crowdfunding, a growing fundraising model for entrepreneurial projects, is set to grow in China and could dwarf those of the United States or United Kingdom. Continue reading “If you can’t make it onto Shark Tank or Dragon’s Den, what questions would you ask about your start-up?”

If you don’t have this ingredient in your small business, you could be repelling many potential customers

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

While visiting a small town in the heart of the citrus growing district of the Gamtoos Valley we had to drive about 10 km from the farm to the nearest supermarket. Although this was a country Spar supermarket it was a pleasure to go shopping there because of the friendly, helpful service. Being in a store with an unfamiliar layout, we were pleased that even the cashiers would get up and go show us where the products were located. We were surprised that they enquired where we were from and how we were enjoying our stay in the village of Patensie.

Friendly, efficient and fast service goes down well no matter whether you are buying goods in the city or the countryside. It makes you want to come back. You also have your identity reaffirmed because you feel less of a number. But the most compelling reason for superior customer service is the impact that it makes on your small businesses bottom line. Continue reading “If you don’t have this ingredient in your small business, you could be repelling many potential customers”

Have you modernised your thinking in entrepreneurship?

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

A commentator in a Himalayan publication was saying that we have modernised today not only with technologies but with our thoughts too. The commentator gave several examples where thinking had changed including in education and the workplace.

How have you modernised your thinking when it comes to entrepreneurship, start-ups and small business?

Are you using the same style of thinking that you used several years ago? Continue reading “Have you modernised your thinking in entrepreneurship?”

An early warning system for your business before it hits the danger zone

(Copyright © 2014 by Chesney Bradshaw, all rights reserved)
(Copyright © 2014 by Chesney Bradshaw, all rights reserved)

I was travelling from Cradock through to Aliwal North in the Eastern Cape when the radiator warning light came on. Unfortunately there was no water in the radiator water reservoir. After stopping, we’ve filled the radiator with water from fresh drinking water bottles and were able to resume our journey.

Just imagine the drama and inconvenience if the car didn’t have an early warning indicator light on its dashboard to give a heads up that the water had run out. The result would have been that the engine would have overheated and could be seriously damaged. Being many kilometres away from the nearest town would have involved hiring a tow truck. The delay to our journey would have also met additional cost for an overnight stay in a bed and breakfast outlet in the nearest town.

All this damage, inconvenience and cost was prevented by an early warning system.

Do you have an early warning system in your small business? Continue reading “An early warning system for your business before it hits the danger zone”