Posts tagged startups

How a bad haircut inspired Melody McCloskey to found a StyleSeat, an app worth $300 million.

How a bad haircut inspired Melody McCloskey to found a StyleSeat, an app worth $300 million.

3 Things Businesses Do To Make 9 Figures

It’s hard to make a buck, and even harder to make $100 million of them: “72% of all startups stall before they get to $100 million; only 3 percent ever see $1 billion.” So what’s the secret for those that do make it?

  1. They excel at market creation.
  2. They disrupt.
  3. They set new standards.

Via OPENForum.com: "3 Things Businesses Do to Pass the $100M Mark"

BloomThat, a San-Francisco based startup, is changing the model around flower delivery: fast (within 90 minutes), affordable (starting at $35) and easy. It’s also very committed to a brand of customer service that’s winning it fans right and left.

A poor review on Yelp is viewed not as an insult to be ignored but as an opportunity to turn an angry customer into an evangelist. Schwab recalls a one-star review by a customer whose flowers arrived a mere 30 minutes late. “We dropped the ball, and we went above and beyond to make her happy,” he says. “We sent her a free bouquet, gave her another one to send, and called the recipient to tell them it wasn’t the sender’s fault that she had to wait an additional 30 minutes.”

The result: The one-star review became a five-star review.  As Schwab explains, “Part of setting an expectation is living up to the expectation.”

Via OPENForum.com: “BloomThat: The “Uber of Flowers” is Planting Seeds of Disruption

Ever wonder how successful businesses scale? These two professors from Stanford tackle that question in their book, Scaling Up Excellence: Getting to More Without Settling for Less:

To scale faster and better, you need to slow down to take the time and effort to instill the right mindset in people as your project is rolled out. Just running up the numbers as fast as you can is a recipe for disaster. You also need to slow down because scaling requires so much mindfulness—it requires so many changes in organizational structure, tactics and strategies, and so much thinking about how what you’re doing now will set the stage for success later.

Via OPENForum.com: “Scaling Up: Stanford Professors Reveal Surprising Perspective on Success”

Ever wonder how successful businesses scale? These two professors from Stanford tackle that question in their book, Scaling Up Excellence: Getting to More Without Settling for Less:

To scale faster and better, you need to slow down to take the time and effort to instill the right mindset in people as your project is rolled out. Just running up the numbers as fast as you can is a recipe for disaster. You also need to slow down because scaling requires so much mindfulness—it requires so many changes in organizational structure, tactics and strategies, and so much thinking about how what you’re doing now will set the stage for success later.

Via OPENForum.com: “Scaling Up: Stanford Professors Reveal Surprising Perspective on Success

The Shocking Discovery That Led to Disruption For This Entrepreneur

“We found out that a $60 T-shirt from any upscale brand cost about $8 to make. We thought, ‘Holy crap! That doesn’t sound right.’” everlane founder Michael Preysman

Via OPENForum.com: “Everlane: How a Shocking Discovery About Luxury Goods Led to Disruption

What advice can you offer entrepreneurs just starting out?
Ask yourself why you are starting a company. If you are starting it because you are trying to solve a problem and create efficiency and you are so obsessed that you need to create a solution, then you are doing the right thing. I see too many people start companies just for the sake of being an entrepreneur. Make sure you are doing it for the right reasons and that your level of passion is almost irrational. 

Via OPENForum.com: “Sean Rad Of Tinder: Can This Hot App Solve One Of Dating’s Biggest Problems?”

What advice can you offer entrepreneurs just starting out?

Ask yourself why you are starting a company. If you are starting it because you are trying to solve a problem and create efficiency and you are so obsessed that you need to create a solution, then you are doing the right thing. I see too many people start companies just for the sake of being an entrepreneur. Make sure you are doing it for the right reasons and that your level of passion is almost irrational. 

Via OPENForum.com: “Sean Rad Of Tinder: Can This Hot App Solve One Of Dating’s Biggest Problems?

newyorker:

Matthew Hutson on the link between accomplishment and informality, and the power of the hoodie-wearing C.E.O.: http://nyr.kr/1fWMX9T
Photograph by Justin Sullivan/Getty.

newyorker:

Matthew Hutson on the link between accomplishment and informality, and the power of the hoodie-wearing C.E.O.: http://nyr.kr/1fWMX9T

Photograph by Justin Sullivan/Getty.

springwise:
We’ve already seen travel recommendations inspired by social media trends in the form of SuggestMe, but now a new app from Sweden’s Stockholm Arlanda Airport — Local’s Guide to Instagram — is using real-time updates by city residents on the photo-sharing platform to enable visitors to discover new locations through a personalized travel guide.

springwise:

We’ve already seen travel recommendations inspired by social media trends in the form of SuggestMe, but now a new app from Sweden’s Stockholm Arlanda Airport — Local’s Guide to Instagram — is using real-time updates by city residents on the photo-sharing platform to enable visitors to discover new locations through a personalized travel guide.
techcocktail: Momentage Founder Believes He Has a $1.5M Idea