Entrepreneurship

Quote for Entrepreneurs

There is only one corner of the universe you can be certain of improving, and that is your own self. So you have to begin there, not outside, not on other people. That comes afterwards, when you have worked on your own corner.

                                                                                                                         – Aldous Huxley

Tagged , , ,

$9 M Google Ventures Funding… And Shows Future of Digital Publishing

Book Pile   BlogRecommend reading the Fast Company article “The Picture Book That Parents Worldwide—And Google Ventures—Can’t Put Down” http://www.fastcocreate.com/3048158/the-picture-book-that-parents-worldwide-and-google-ventures-cant-put-down

Take a good look here and you see where digital publishing is heading as print-on- demand, analytics, creative software, graphics design, and content creation merge to create what looks like a new market sector.

When we here about personalized children’s books we think about a child’s name inserted into the same story and replicated for others. Here we have a new paradigm using algorithms to create customized stories printed with high quality illustrations.

Here is what #Google Ventures says: “We don’t look at them as a book publishing company,” says Avid Larizadeh Duggan, a London-based general partner at Google Ventures. “It’s a platform for the best personalized content for children’s entertainment on multiple platforms. They’re redefining a category.”

When you read this article, I suggest keep the following points in mind:

  • Automated content creation using algorithms and software is a new frontier- as noted “… there are tens of thousands lines of code for each book delivered”
  • This is a technology not a book publishing startup –when you review the article that is clear
  • The team identified a market opportunity, organized a talented team, and then pursued the business. Market opportunity defined first, then technology solution- that is the way it is done to avoid having a creative technology looking for a market, a problem we often see with early stage companies

So where is this heading? Here are may perspectives:

  • The content creation analytics and software will advance quickly- we can envision more powerful and multi-threaded content creation options emerging- I expect these will be driven by start-up firms
  • We will move beyond the children’s book market- what I call ‘adaptive’ content creation will also address other traditional book publishing markets
  • Adaptive, personalized content creation has other applications in education and training. Customizing content to adapt to readers’ learning styles and disabilities, personalizing training content based on readers’ skill level; developing personalized healthcare education materials which adapts based on staff background, experience, their optimum learning approach are some of the many possibilities here.

Bottom line – like 3D printing, this is another disruptive breakthrough that I believe will open many exciting opportunities to create value. Recommend all stay tuned as this develops.

Paul B. Silverman

Paul B. Silverman writes about entrepreneurship, healthcare, analytics, and strategy management and serves as Advisor, Speaker, Educator, and Managing Partner of the Gemini Business Group, LLC, a new venture development firm, and author of “8 Building Blocks To Launch, Manage, And Grow A Successful Business.” He also serves as Adjunct Professor in the R.H. Smith School of Business at the University of Maryland. See more at Paul B. Silverman Blog and sign up for Entrepreneurship Today! email updates to track latest new venture developments.

Tagged , , , ,

New Book Release: “8 Building Blocks To Launch, Manage, And Grow A Successful Business”

I am pleased to advise publication of “8 Building Blocks to Launch, Manager and Grow a Successful Business”  – book is now available on Amazon (Print and Kindle).

8b3_copy(4)Here is press release…

HALF OF ALL BUSINESSES FAIL WITHIN FIVE YEARS

New book offers solutions for success

Reston, VA, July 3, 2015 – “8 Building Blocks to Launch, Manage, and Grow a Successful Business” is available today on Amazon (US and global markets) and Kindle (July 8th). Targeted to entrepreneurs, the book walks readers through the many steps needed to not only launch a business, but stay in business and succeed.

“SBA and other statistics confirm what I’ve seen so many times,” said author Paul B. Silverman. “You can have a great idea, market need, solid team, funding and maybe a customer or two, and then five years later you’re out of business.”

8 Building Blocks to Launch, Manager and Grow a Successful Business” provides a step-by-step guide to all the key elements an entrepreneur needs to tackle to meet today’s challenges, profitably stay in business, and create value for shareholders. The book delves into the reasons why most businesses fail, how to prevent common pitfalls, and winning strategies…. READ PR AT PRESS RELEASE- 8 BUILDING BLOCKS

Here are some related links:

Reviews – I appreciated the support and comments of the pre-publication reviewers- reviews at http://paulbsilverman.com/books/reviews/

Link to new book page-  Book Page: * Building Blocks To Launch, Manage, And Grow A Successful Business  

 Read Book Excerpts at http://paulbsilverman.com/books/excerpts/

Link to Amazon to order the book  Amazon Link; 8 Building Blocks to Launch, Manage, and Grow A Successful Business

Link to blog a paulbsillverman.com/blog/

Sign up for new Entrepreneurship Today! email updates on areas I am tracking such as crowdfunding, Reg A+, cybersecurity, healthcare, IOT, and analytics . The email updates will cover new venture developments, blog posts highlights, upcoming interviews with leading entrepreneurs, guest posts by investors and entrepreneurs, and new Entrepreneurial Management 2.0 techniques. More info and sign-up page at http://paulbsilverman.com/contact/ 

I am ramping up speaking engagements and plan on doing several interviews related to new venture development and entrepreneurship and glad to address any group where I can contribute and schedules work

If you have any questions or comments, please contact me anytime and I will be glad to help.

All the best,

Paul B. Silverman

Paul B. Silverman writes about entrepreneurship, healthcare, analytics, and strategy management and serves as Advisor, Speaker, Educator, and Managing Partner of the Gemini Business Group, LLC, a new venture development firm, and author of “8 Building Blocks To Launch, Manage, And Grow A Successful Business.” He also serves as Adjunct Professor in the R.H. Smith School of Business at the University of Maryland. See more at Paul B. Silverman Blog and sign up for Entrepreneurship Today! email updates to track latest new venture developments. – See more at: http://paulbsilverman.com/blog/#sthash.FEhMHL25.dpuf

 

Tagged , , ,

Comments On Richard Branson Post TED Talk

Commented on excellent Richard Branson TED talk How To Hack Into Happiness good messages here.

Tagged , , , , , , , , , , ,

NEW FACEBOOK PAGE

New Facebook Page – will focus on #entrepreneurship, #predictive analytics, #new ventures, #healthcare

More to follow. Check out http://tinyurl.com/m8t5z4g
Paul B. Silverman writes about entrepreneurship, healthcare, and strategy management and serves as Advisor, Speaker, Educator, and Managing Partner of the Gemini Business Group, LLC, a new venture development firm, and Adjunct Professor in the R.H. Smith School of Business at the University of Maryland.

Tagged , , , , , , , , , , , , ,

Music Streaming and Analytics-How Spotify is Impacting the Music Business

Excellent New Yorker article about Spotify and how music sector business models are changing- very clear here that the online music market business models are morphing quickly- check out http://tinyurl.com/lw88lkc

The article reinforces my view that analytics, not content, packaging, or other features will be the primary success driver in most of today’s markets, including the music sector. I am looking at analytics-centric healthcare, financial, and business management ventures and clear to me these ventures will reshape current sectors and create new large scale opportunities just as Spotify is doing in online music

To fully understand the possibilities here, consider the following 3 points noted in the article:

  • Note migration from early stage “collaborative filtering” analytics-using what you did before to define what you want in the future – first generation analytics here which provided a competitive edge.
  • Spotify bought Echo Nest-an analytics company and created “Truffle Pig” – result is an artificial music intelligence platform that helps Spotify dissect in detail the music elements (they now look at 50 parameters for all music products) and further tighten ability to meet users’ needs
  • Most significant, Spotify’s analytics are what I call second generation, seeking to use other external personal/ environmental data to improve their ability to meet users’ needs/improve user satisfaction (and of course not switch to iTunes or Pandora). To get a glimpse into what is meant here, check out the following from the article:

Now that the Echo Nest is part of Spotify, its team has access to the enormous amount of data generated by Spotify users which show how they consume music. Spotify knows what time of day users listen to certain songs, and in many cases their location, so programmers can infer what they are probably doing—studying, exercising, driving to work. Brian Whitman, an Echo Nest co-founder, told me that programmers also hope to learn more about listeners by factoring in data such as “what the weather is like, what your relationship status is now on Facebook.”

When I look at how analytics is shaping all market sectors, we see explosive growth of what I call second generation analytics- this will spawn many exciting new ventures, and some of these will be in new market sectors that don’t even exist today. Exciting times lie ahead here
Paul B. Silverman writes about entrepreneurship, healthcare, and strategy management and serves as Advisor, Speaker, Educator, and Managing Partner of the Gemini Business Group, LLC, a new venture development firm, and Adjunct Professor in the R.H. Smith School of Business at the University of Maryland.

Tagged , , , , , , , , , , , , , ,

Comments on Business Models at “For Entrepreneurs”

Excellent summary by David Skok on new business models we now see in the entrepreneurial arena. If you are interested in understanding the variety of business models we now see in the market this is a good place to start. I contributed comments on Data Intensity Models or “DIM” which I am looking at for new ventures- very exciting area using analytics. Check out David Skok’s site and my comments at  http://www.forentrepreneurs.com/business-models/    Copy of my comments below:

David
Excellent summary on business models – good work. Glad to
contribute here. I am focusing on a related models in the new venture arena looking at how companies create value based on their customer and ‘community of interest’ data. The Data Intensity Model (“DIM”) goes beyond lead generation models to increase revenue and looks at the value created by understanding customer needs using analytics. Mint.com is the widely quoted example here but other directions are emerging. Sounds far out but the DIM model may shape how you manage your wardrobe- check out http://paulbsilverman.com/2012… Obvious opportunities in finance arena similar to Mint.com but major opportunity I foresee is in healthcare arena. Check out my post/exchange about new business models on Accenture blog http://paulbsilverman.com/2013…. The excellent contribution you are making to educate entrepreneurs is I am sure appreciated by all.

Paul B. Silverman

Tagged , , , , , , , , , , ,

Comments on WSJ Post- “EMRs: A Huge, Expensive Burden”

Electronic Medical Records (EMRs) provide the foundation to improve healthcare quality and improve cost performance. And standardized EMRs open the door to telehealth and new analytics to improve clinical decision support systems and save lives. But the transition from paper records, as we learned in the e-commerce revolution, will take time and create disruption. I posted comments on a WSJ post to share my view on the benefits we can expect to see. WSJ post and my edited comments at http://tinyurl.com/ksnav8e

Copy of my complete comments as follows:

We need a standardized, full- featured EMR system- this is powerful building block to improve today’s healthcare system. The U.S. lags Australia, the Netherlands, New Zealand, Norway and the U.K., all of which have EMR adoption rates above 90 percent. No surprise these countries have healthcare systems that lead the U.S. based on all patient outcomes/cost performance metrics. Coupled with the ACA’s new core quality measure reporting (‘eCQM’s), we are taking the right steps. But EMR also enables predictive analytics which I see as the Holy Grail here. What lies ahead- new clinical decision support systems improving outcomes; new tools to minimize adverse drug events; improving patient selection for new drug trials; improving surgical outcomes examining chronic issues; and many more. The Social Progress Index report, created by Harvard Business School’s Professor Michael E. Porter’s team, ranked 132 countries using 50 indicators. In the Health and Wellness category the United States ranks poorly at 70th, behind Mali (69th), and Nepal (68th), but, small consolation, ahead of Kuwait (71st). Keep that in mind the next time you hear a pundit say “…our healthcare system works just fine and we don’t need to change it.” These studies are based on metrics/data analysis, not hype or talking points. There will be some disruption, but a standardized EMR system will benefit both the entire healthcare community and the public.

Paul B. Silverman

 

Tagged , , , , , , , , , ,

Failure Is Often A Key Driver for Success: Check out “Failing Forward — 3 Tips for Failing Your Way to Success”

Most entrepreneurs are familiar with the story of Thomas Edison’s invention of the light bulb. To outsiders, looks like a waste of time and effort- we see about 10,000 failures and one success. Thomas Edison saw it differently in his widely quoted views on success and failure: “I have not failed 10,000 times. I have not failed once. I have succeeded in proving that those 10,000 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.”

I agree with Thomas Edison and always define failures as “Learning Experiences” — this works for me.

I recommend checking out “Failing Forward — 3 Tips for Failing Your Way to Success” – an excellent perspective on success and failure from Marshall Graham, Managing Partner at Indian River Advisor, LLC. Excellent insights here for all entrepreneurs.

 

Paul B. Silverman writes about entrepreneurship, healthcare, and strategy management and serves as Advisor, Speaker, Educator, and Managing Partner of the Gemini Business Group, LLC, a consultancy firm, and Adjunct Professor in the R.H. Smith School of Business at the University of Maryland.

Tagged , , , , , , , , , , , , ,

Comments – NPR: Surprise Medical Bills: ER Is In Network, But Doctor Isn’t

Posted comments today on NPR story about ER billing problems using ER services in Texas. Ironic, as noted in my comments,  Texas is one of the states that has pushed back most strongly on ACA efforts to improve our healthcare system. So if you do have an emergency while traveling in Texas, on the way to the ER in the ambulance, I suggest make sure you check that you are covered for both hospital and doctor costs. Looks like “every doctor  for himself” there- what a way to run a healthcare system. We can fix this and I believe with modifications ACA is the vehicle to accomplish this objective.

You can read my comments and the NPR article at http://tinyurl.com/pfd5zwe

Tagged , , , , , , , , , , ,