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Software is good at automating repeatable processes, but that doesn’t make them the right processes. Doing the wrong thing efficiently isn’t the same as doing the right thing. There’s a reason that Peter Drucker wrote about the effective, not the efficient, executive.
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The key finding is that first generation entrepreneurs create a total of 25% of new businesses as an average for the 50 states. The authors pointed out that number exceeds 40% of new businesses in some states.
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SEO sometimes gets a bad rap. It’s too complicated, or it’s too expensive, or it takes too much time to be effective. I’m here to dispel all of those myths. In reality, SEO is a straightforward and cost-effective means of getting your brand out there.
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Walmart took a 75% stake in Flipkart for about $15 billion. Flipkart was recently valued at $11.6 billion in April 2017. Nice premium. Big value of Flipkart: they know how to compete online. Jet.com wasn’t good enough for Walmart. Now it is going abroad. Good thinking. We are all on this planet together.
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My entrepreneurial endeavor is beginning to pay fruits, albeit 15 years after its founding. The path hasn’t been easy nor financially secure and I wouldn’t necessarily recommend it to anyone. But then again, successful entrepreneurs don’t always choose to be entrepreneurs.
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On the other hand, getting people to open up their wallets and pay for a service, especially if they’ve become accustomed to using it for free, is hard. That’s true for pay-only services and it’s also true of the attempt to split the difference between free and paid: freemium.
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Another retail consultant Steve Dresser is also quoted in the BBC article: “Even if they (Toys R Us) didn’t want to give over their stores to the kinds of hands-on experience that you get in Hamleys or a Lego store, they should have done more to keep customers happy, been less functional, more on-trend.
More ”… Think of value generation and leadership development as the chariot wheels that support a transformation, and the quest as the horse that provides direction and momentum. Alignment of the three is critical if you want to reach your destination.”
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If you find yourself in this situation, reducing price can help to clear existing inventory but it will not solve the fundamental problem of lacking a product that people want. Better to preserve what profits you can and invest them into developing a product that addresses a customer need.
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As Amazon and Wal-Mart continue to dominate e-commerce, Nordstrom has been faced with a unique challenge of growing its own e-commerce presence, and continuing to promote its differentiators against this duopoly.
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