entrepreneurship

Like riding a bike - 5 tips to breakthrough to business

Kid riding a bike
Kick off the training wheels

When I was a kid learning to ride a bike, I was convinced that I first needed to figure out how to balance. You know... without moving. Fortunately, my mom saw my predicament and one day just pushed me and my bike off the driveway. To my surprise I didn't fall, and pretty quickly I was cruising around the neighborhood on my own. The lesson?

It's hard to get stability without forward momentum.

Similarly, I often notice a key balancing moment when the enterprises I work with go from being just promising ideas to something tangible. In India - for a new venture that promoted soy protein and nutrition - that moment came when our local team went from just talking about soy protein to actually cooking with it in their neighbors' kitchens… hundreds of them. Those experiences, and what it took to make them happen, changed everything: building an initial set of capabilities, credibility, and consumer relationships that actually pulled the business forward.

It's understandable that with so many details to manage in launching a business, you might instead get stuck in my poverbial driveway. But the key is to concentrate less on what your business will look like once it gets moving, and just figure out what you need to do to get it moving. Focus your efforts on an attainable breakthrough that will change everything.

Looking for Exponential Value - Lessons in Leadership

It should be obvious that there really is a limit to how much one person can do or to how much one person can earn; we should be looking for ways to create exponential value. Remind budding leaders about that every time they think about going it alone. For a developing leader, every "individual" success can be viewed as just reinforcing a bad habit; it blinds you from seeing how much greater your success could have been if you had looked beyond yourself.

Poor People's Knowledge - Handmade in India

A review of the 2nd Chapter of World Bank's "Poor People's Knowledge", about the challenges and opportunities in promoting the knowledge and innovations of the world's poor.

Poor Peoples Knowledge"How can we help poor people to earn more from their knowledge—rather than from their sweat and their muscle? This book is about promoting the innovation, knowledge, and creative skills of poor people in poor countries, and particularly about improving the earnings of poor people from such knowledge and skills."

The World Bank's "Poor People's Knowledge: Promoting Intellectual Property in Developing Countries" is a collection of essays by researchers and practitioners covering the subject of knowledge development and intellectual property in the Base of the Pyramid. The book (available in PDF) is an informative and thought-provoking read. Today we touch on Chapter 2 "Handmade in India" by Maureen Liebl and Tirthankar Roy.

Going Beyond Networking - Launching a Venture in the Base of the Pyramid

"How do I get the resources I need to start my BOP business?"

This question came up in a recent discussion with a colleague from the Univeristy of North Carolina. Dozens of students graduate each year from UNC's Kenan-Flagler Business School with a top-rated MBA degree and a passion to pursue Base of the Pyramid (BOP) opportunities, but few companies are hiring for these types of positions. You can always start your own business, but how does an aspiring entrepreneur from the top of the pyramid attract the resources needed to launch a new business in the BOP?

Just like any other entrepreneurial endeavor, it's all about building credibility.

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