When to Pass on a Great Business Opportunity

When to Pass on a Great Business Opportunity

    One of your better managers comes to you with the idea of setting up an internet bank. Some experts will say that you should invest in a portfolio of new ventures as part of what McKinsey calls the third horizon. Using this logic, both Prudential and Mannesmann should have a go. Other experts […]

How You Know You Have a Winning Business Idea

How You Know You Have a Winning Business Idea

      Do you have an idea for a new business? While you may find it easy to generate many new business ideas, it isn’t as easy to identify which ones are truly stellar. How do you know when you’ve come up with a fabulous business idea? We asked successful business owners what key […]

The 11 Cities With The Most Opportunity Right Now

The 11 Cities With The Most Opportunity Right Now

      PricewaterhouseCoopers (PwC) has a comprehensive new ranking of 30 cities in the world that offer the widest opportunities for businesses and the people who live there. PwC’s sixth edition of its “Cities of Opportunity” report examined intellectual capital and innovation; technology readiness; how accessible a city is to the rest of the […]

A Small Brand Tries to Escape the Confusing Shadow of a Big Brand

A Small Brand Tries to Escape the Confusing Shadow of a Big Brand

      Hobby Lobby International makes and sells radio-controlled toys, tools and accessories. What started in 1964 as a shop in a building lobby in Brentwood, Tenn., grew into a thriving mail-order business and, later, an online retailer with $9 million in annual sales. The company was owned by the same family until 2003, […]

Generating Data on What Customers Really Want

Generating Data on What Customers Really Want

    At a fundamental level, the decisions managers make about revenue and profits fall into two categories—those related to growth and those related to cost reduction. Both types are meant to increase margins. But how data are used in each decision-making process is completely different. Cost reduction data are precise. Firms know their cost […]

Million-Dollar One-Person Businesses Multiply

There’s no mistaking it: Million-dollar, one-person businesses are picking up major momentum in the U.S. More of these tiny firms–which have no employees except the owners– are breaking into every category of business above six figures in revenue, according to newly released Census Bureau statistics. That’s exciting news for people who don’t want to work […]

3 Myths That Kill Strategic Planning

3 Myths That Kill Strategic Planning

    In its simplest form, strategic thinking is about deciding on which opportunities to focus your time, people, and money, and which opportunities to starve.  One of history’s greatest strategic thinkers, Napoleon Bonaparte summed it up this way: “In order to concentrate superior strength in one place, economy of force must be exercised in […]

Privacy Is a Business Opportunity

Privacy Is a Business Opportunity

    Technology innovation and the power of data analytics present tremendous value, but also new challenges. Instead, privacy protection should be a practice as fundamental to the business as customer service. Privacy is an essential element of being a good business partner. It may take time for this idea to sink in at the […]