Neil Blumenthal: How to Grow a Billion-Dollar Company Without Taking Huge Risks

Successful entrepreneurs are often seen as impulsive gamblers. Neil Blumenthal says he used a different strategy to grow billion-dollar eyewear brand Warby Parker: minimizing risk.

According to Blumenthal, building your  business strategy around risk minimization can save money and help your company scale to meet demand. Warby Parker‘s first retail store was a showroom built into its New York City-based office–followed by pop-up stores and, eventually, a brick-and-mortar storefront. Each experience allowed Blumenthal’s team to learn what parts of the shopping experience did and didn’t work for consumers.

“We didn’t come in with any assumptions on what the right thing to do was,” says Blumenthal. “It was ‘Let’s learn, get better, and evolve.'” 

The key to minimizing risk is threefold: Be flexible, take small steps, and make informed decisions. That’s one of the biggest takeaways from this week’s episode of Inc.‘s What I Know podcast, featuring Blumenthal. 

Read more

How to source on the lesser known sites!! Youteam.io!!

Youteam.IO is a site where you can hire off shore or remote developers. Fortunately, they also

provide a very robust profile and make it easy to find and contact these developers. YouTeam.IO is a

little-known site and few have tried to source in it. Well to do this without worry you need go no

further than into your bag of tricks and pull out an old tried and true tool, called x-raying.

 

So, to source within YouTeam.io you simply need to create an x-ray string, like the one below.

 

site:youteam.io/ java

 

If you run the strings above in google you will get the results below.

All you need to do is click on any URL and you will see some great info; all you need to do is put on your Social detective hat and away you go.

 

If you need more info on X-raying see my blog post http://www.recruitingblogs.com/profiles/blogs/seeing-what-is-really-there-aRead more

How to Use Your Privilege for Better Business

We all have privileges

If you are reading this now, you are privileged in many ways. Some of these advantages you have been born with, while others you fought to receive. Some, as we are reminded by today’s “Strike for Black Lives,” have been won through collective action. 

While I am a minority, I understand I have privileges that Black people don’t. In 1965, an Immigration Act was passed that enabled Indian Americans, especially those with specialized professional skills, to enter into this country. If you were proficient, smart, and skilled, America welcomed you–a starkly different invitation compared to how Black slaves were brought into the country.

Yet, when 9/11 occurred, I sat in my middle school classroom suddenly wanting more than anything to be White. While we watched the news blaring from the TV, I didn’t want any of my classmates to turn around and see

Read more

Major Benefits of Continuous Feedback

Continuous feedback enhances employee experience in an organization, which is vital in this experience economy. As per a Harvard Business Review article, continuous feedback was born when a company named Colorcon, in 2002, switched from an annual feedback system to an instant feedback process. The modern performance management system that leverages technology emphasizes on the benefits of continuous feedback methods and encourages the users to use it frequently in their work.

Here are 4 benefits of continuous feedback.

Thus, implement continuous feedback in your organization to reap its complete benefits.

Source link Read more

Five Practices to Help You Avoid and Bounce Back From Crashes

One of the characteristics that every good investor looks for in an aspiring entrepreneur is resilience, or the ability to learn from and bounce back after a failure.

You don’t have to have previous startup problems to show resilience – everyone should have a story of tackling a tough challenge with minimal success, but using the failure to move on and achieve an objective.

With startups, almost every entrepreneur I know has failed at least once, often several times, but never gave up, and ultimately achieved their goal. Evan Williams, for example, before co-founding Twitter, started a podcasting platform named Odeo. The platform couldn’t compete with Apple’s podcast section of iTunes, so he recast his efforts into microblogging, and the rest is history.

The challenge is how you can enhance your own ability to bounce back, and highlight that attribute to your team and outside constituents, including investors

Read more