Archive for February, 2011

February 22, 2011

The IDEAL Business Model

I always say, “Great ideas are abundant; great execution is rare.” To have a chance at great execution, your business (or business idea) must have IDEAL conditions. That’s my acronym for the ingredients of a successful business model that can sustain itself and grow.

More of the details later, but for now I’ll just introduce you to the components of the acronym IDEAL:

  • I = Initiative
  • D = Differentiation
  • E = Economics
  • A = Advantage
  • L = Loyalty

Stay tuned! I’ll write more about each letter, in future posts.

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February 10, 2011

What to Learn from the Super Bowl

Enough time has passed since Christina Aguilera flubbed a line in her rendition of the Star Spangled Banner at the start of last Sunday’s Super Bowl. Tens of thousands of opinions ranging from snarky to sheer outrage were expressed over the next few days. But Aguilera has moved on, as she should, issuing a short statement about it all.

A columnist/blogger for The Daily Beast, Clark Merrefield, asked himself the next logical question in his blog entry today. He wondered how many of those critics, or Americans in general for that matter, know the anthem and could do better? His purely random sample while standing on the streets of Portland, Oregon, yielded a surprising (or perhaps not so) result.

Of the 73 adults he asked, only 8 of them (less than 11%) could recite the Star Spangled Banner correctly. And that was just performing in front of him, an audience of one, never mind the hundreds of millions of people who were watching Aguilera.

What’s the takeaway? You’re going to make mistakes, though hopefully not in front of a hundred million people or more. But if it happens, just move on. Most of the vocal critics probably couldn’t do any better than you did, and likely would do a lot worse.

February 6, 2011

Uncovering New Ideas

I do a lot of skim-reading at a number of different newspapers’ online sites, for papers in New York, Chicago, Denver, San Francisco, Boston, D.C., etc. It’s part of my morning ritual. The national and world stories are all about the same, so I try to catch the special-interest or topic-oriented stories that catch my eye. One of those stories this morning gave me a new way of looking at a possible business opportunity, in a way that I had not thought of before.

This is one of my keys to discovering new ideas.

February 5, 2011

Spreading the Word?

Just a quick blog entry to see if the new connections with my Twitter and Facebook accounts are up and running…

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February 3, 2011

The Most Valuable Gift of All Time

This is what I believe is “The Most Valuable Gift of All Time”, as expressed in a movie that I wrote and produced.