February 6, 2013
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Bold Ventures
Midwestern entrepreneurs are finding opportunities outside Silicon Valley
Silicon Valley is still a hotbed of entrepreneurship, but some founders are choosing to launch their startups in the Midwest. The talent pool in the Midwest may be smaller, but entrepreneurs can benefit from the region's tight-knit community. "There's a unique sense of pride and ownership to what we're doing," said Jeff Slobotski, co-founder of a news source known as Silicon Prairie. "You can make a mark and make a change, on a bigger scale." CNBC (2/5)
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Leading the Pack
4 ways to be a more intense boss
Intensity is a powerful tool for any leader, although it's important to ensure that your focus and commitment don't come across as anger or obsession, writes Art Petty. Authenticity is a vital part of that process, Petty adds. "Your commitment to the mission at hand must come through in your every word, action and during every encounter," he writes. ArtPetty.com (2/4)
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Finance & Growth
Why your company needs a business plan
Developing a business plan for your startup can help you to set clear goals, gain insight into the market and avoid making mistakes, writes Robert Moskowitz. "If you take the time to write a business plan, you give yourself opportunities to identify potential problems earlier and work to minimize their impact," he writes. Intuit Small Business Blog (2/4)
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The Whole Entrepreneur
4 tips for handling uncertainty
One of the keys to reducing stress is to eliminate some of the uncertainty that comes with starting a business. It's a good idea to collaborate with others and begin by making small investments in your company. "You still don't know if you'll win, but if you lose, you'll lose very little," said Saras Sarasvathy of the University of Virginia. Entrepreneur online/The Daily Dose blog (2/4)
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Ideas for Innovators
What the most innovative companies have in common
The most innovative companies tend to share a few key characteristics, according to researchers at The Boston Consulting Group. They gather feedback from customers, use data to inform their decisions and understand the trade-offs involved with new initiatives. "They make decisions based on the size of the opportunity that lies ahead," writes Harold L. Sirkin, a senior partner at The Boston Consulting Group. Bloomberg Businessweek/The Management Blog (2/5)
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Fortune from Failure
How Kickstarter success can quickly turn into a headache
Entrepreneurs who successfully raise money on Kickstarter can run into trouble when it comes time to actually delivering the products they have promised. Such was the case for entrepreneurs John Kestner and David Carr, who raised $556,541 on the platform after setting a goal of just $35,000. They were suddenly on the hook to deliver almost 4,000 units of their product, which is called Twine, and they were unable to meet their projected delivery date. However, they learned about manufacturing along the way and were able to make their first shipment about half a year after the original deadline. Fast Company online (2/5)
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SmartQuote
Your team members can sense a lack of authenticity a mile away."
-- Art Petty, writing at ArtPetty.com.
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