Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
Small business lending freeze starting to thaw
“The small business lending market has yet to thaw in the wake of the recession. However, several recent studies suggest the ice may finally be starting to melt. The credit health of small companies across the country improved during the first quarter of 2013, according to a new report by Experian and Moody’s Analytics, surprising analysts, most of whom were expecting either no change or a slight decline over the first few months of the year.” (The Washington Post)
Why the best entrepreneurs search for the questions, not the answers
“I liken the best entrepreneurs to the best inventors. Both types of individual create things that often make our lives better, either in our personal or business life. And the best entrepreneurs approach coming up with ideas in the same way that inventors do – they very rarely think of an idea and then try and think of an application. Instead, they spend their lives looking for ‘pain points’ or problems that need solving.” (The Guardian)
Three sure ways to boost your small business
“Life can be tough as a smaller business. Access to some of the more awe-inspiring weaponry in the marketing arsenal is just tantalisingly out of reach, and it can seem as though larger competitors are always accelerating while you have to fight just to stay in place. There are some digital marketing methods, however, and some of the most effective at that, which can really help your small business to punch above its weight.” (The Globe and Mail)
Forget Sexy, Startups Today Look To Disrupt The Mundane
“To be a successful startup company, you don’t always need to enter the biggest, sexiest industry you can find. Some of the most interesting startups these days are finding ways to disrupt what is old, stodgy and stagnant. Take a look at the most recent TechStars Boston class. Of fourteen companies, about a third of them are targeted towards disrupting old industries rife with inefficiency, old business models and decades-old practices.” (ReadWriteWeb)
Why Is It Tough for Entrepreneurs to Assess the Business Potential of a Revolutionary New Offering?
“Not all innovation is valuable. Some of it might be simply arbitrary and random. Some may be valuable, but might not receive the treatment it deserves. But when you meet entrepreneurs who have an innovative offering, they tend to be so smitten by their creativity that they often misread market signals.” (Money Control)
3 Ways Entrepreneurs Can Fail Smarter
“There is no sure fire way to prevent failure, but one can always fail smarter. Entrepreneurs fail smarter by 1) understanding the basic terms of their term sheet, 2) understanding how much capital is needed, and 3) having an exit plan.” (The Huffington Post)
An Entrepreneurs Handbook To Slaying Goliath
“Every time I’ve started a company, I’ve chosen a category in which multiple, bigger players already exist. And every time I’ve chosen to go this path, I get the same response from friends, family and especially investors. They’ll say, ‘You’re too late to win this game,’ or, ‘Company X just secured $45M on a $275M valuation, has 130 employees and is the darling of the media. They’ll out innovate and out market you!'” (Forbes)
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