Uncategorized

Forbes-Roundup Analytics,Big Data,BI, IOT

IOTExcellent article in Forbes on big data, analytics, and business intelligence. You can see my comments (top comments section)  and the Forbes article at http://www.forbes.com/sites/louiscolumbus/2015/05/25/roundup-of-analytics-big-data-business-intelligence-forecasts-and-market-estimates-2015/

One of the best roundup articles showing forecasts and outlook in these explosive growth markets. All businesses and providers must recognize the challenges that must be met and how all must adapt to secure real value from these trends.

Summary:

Summary of my recommendations in posted comments here – view big data/analytics/IOT as ‘technology enablers’, enabling you to improve and streamline business processes. The winning strategy- get past what I call the ‘gee-whiz’ factor, recognize IOT, analytics, and other technologies are a “means to the end,” driving new business processes to reduce costs, increase revenue, and improve strategic position.

Forbes article is highly recommended reading for all interested in big data, analytics, and IOT.

 

Paul B. Silverman is Managing Partner of The Gemini Business Group, LLC, a new venture development firm dedicated to helping global entrepreneurs succeed (www.geminibusinessgroup.com) . He is the former CEO of a predictive analytics company and writes and speaks about entrepreneurship, healthcare, analytics, and strategy management and is the author of “8 Building Blocks To Launch, Manage, And Grow A Successful Business.” See more at Paul B. Silverman Blog.

 

 

Tagged , , , , , , ,

Global Logistics Report:IOT /Analytics Impact

cargo shipsExcellent global logistics report by Colliers – check out last several sections on “Last Mile Innovations” in U.S., Europe, EMEA, and Asia Pacific

Further reinforces the outlook I and many others share – significant opportunity ahead for innovative integrated analytics and IOT applications that change business processes to lower costs, increase revenue, and improve strategic position. Look at the case studies here for Amazon, PeaPod, others and you see some examples of best practices in using technology to re-engineer and streamline processes, and create new business models. We are only at the beginning here based on the entrepreneurial opportunities I see emerging addressing these applications.

You can get a copy of the report at the Colliers website at  http://www.colliers.com/-/media/files/marketresearch/global/global-logistics-2015.pdf?la=en-us

 

Tagged , , , , ,

Seeking Healthcare Analytics Ventures

4I am working with a New York City-based colleague and several major investors seeking investment opportunities in the healthcare analytics sector. Any level of investment will be considered.

If you have any questions or want to discuss a specific opportunity, drop me a note or give me a call. Thanks.

Paul B. Silverman

 

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 , , ,

Comments on Forbes Article – Millennials Want To Be Entrepreneurs, So Why Aren’t They Starting Businesses?

Posted comments today on Forbes article by Jared Meyer on why millenials are not pursuing their “entrepreneurial dreams” and reinforced the same points I am making in other forums:

— 50% of new ventures fail within five years- we need to educate entrepreneurs, provide tools and ‘best practices’ to create more ‘Survivor’ entrepreneurs

— We do a poor job of offering entrepreneurial education curriculum that really addresses the skills needed to develop winning entrepreneurial management strategies and improve the probability of success

You can see a copy of the Forbes article and comments at http://tinyurl.com/nb9qmzk– here is a copy of my posted comments:

Jared:

Thanks for insightful article- good discussion. Glad to share four perspectives on entrepreneurship based on my experience and publications.

First, serving as an Adjunct Professor at 3 leading universities since 2002 teaching mostly Capstone courses, at the first class I always ask for a show of hands on the question “How many of you would like to be an entrepreneur?” after graduation. My survey results shows 50 percent or less answer yes, and sometimes much less. While they see upside, most also understand the challenges here and life’s realities on the need for a steady income, and I am sure this drives these numbers much lower.

Sec1ondly, entrepreneurs must invest time, resources, maybe take a second mortgage on a home, max credit card debt, and if really fortunate, may attract some investors and capture customers. But statistics show half of these new ventures are doomed to fail within five years. Looking deeper, SBA statistics show what drives all business failures: Management Competence (46%), Lack of Managerial Experience (30%), and Lack of Market Sector Experience (11%). Summary- entrepreneur commitment and risks are high, the probability of success are modest.

Third, in my view we are failing in educating entrepreneurs to meet today’s new venture challenges.

Today’s market, technology, and competition challenges are tougher than ever and savvy investors know that. New players emerge and are attacked by newer players using even newer technology. Teaching entrepreneurs how to start and manage a new venture really is the easy part – from business idea, business plan, resources, and launch – the skills needed here can be learned. In a recent book (8 Building Blocks To Launch, Manage, And Grow A Successful Business), I defined these “SYOB” (“Start Your Own Business”) skills as Entrepreneurial Management 1.0, and these skills are not sufficient to meet today’s challenges

Finally, simply put, yesterday’s skills do not meet today’s entrepreneur’s needs. Recognize that Fortune 500 companies develop new ventures using some SYOB techniques, but before committing resources to pursue new ventures, major firms do more- they look at strategic issues; identify value chain metrics; identify peer group competitors; assess market attractiveness using Five Forces Models; identify alliances and global strategies; assess how venture metrics impact overall ROI given 3 to 5,000 other products and services, and so on. And these new skills are the foundation for what I call Entrepreneurial Management 2.0, a new entrepreneurial management discipline I developed building on SYOB tools, drawing upon Fortune 500 firm techniques for launching and managing new ventures, and my experiences working with many early stage companies. Entrepreneurial Management 2.0 is a portfolio of new entrepreneurial management skills organized into 8 Building Blocks to meet today’s business challenges to help manage and grow new ventures. (see “Half of All New Ventures Fail Within 5 Years- What Is Driving This Sobering SBA Statistic?”) The objective here- help entrepreneurs launch, manage, and grow successful ventures and reduce new venture failure rates.

I share your view on the role entrepreneurship plays in driving economic growth and working on several proposed programs to meet this need (national and regional level), and also exploring a new venture development fund. In 2009, I developed and managed a new Step Up Program to bridge the academic and business community and help educate entrepreneurs- more info and press interview at George Mason University Step Up Program and Paul B. Silverman – Press Interview. This is a representative direction I foresee, coupled with creative new venture financing options.

Summarizing, we can be doing much more to educate and motivate entrepreneurs, jumpstart and grow our entrepreneurship sector- these actions will also drive positive economic growth

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 , , ,

Half of All New Ventures Fail Within 5 Years- What Is Driving This Sobering SBA Statistic?

A new press release was issued today announcing the publication of “8 Building Blocks to Launch, Manager and Grow a Successful Business”  and availability on Amazon (Print and Kindle).

8b3_copy(4)Here is a copy of the press release…

‘8 Building Blocks To Launch, Manage, And Grow A Successful Business’ Now Available On Amazon

Half of all new businesses fail within five years. SBA statistics show what drives all business failures: Management Competence (46%), Lack of Managerial Experience (30%), and Lack of Market Sector Experience (11%)-new book offers success solutions

July 15, 2015RESTON, Va.8 Building Blocks to Launch, Manage, and Grow a Successful Business” is now available on Amazon (US and global markets)- print and Kindle editions. Targeted to entrepreneurs, the book walks readers through the many steps needed to not only launch a business, but stay in business and succeed. The new book received positive pre-publication reviews from invited senior level reviewers

“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. “Understanding the challenges, and helping you develop winning strategies and succeed in today’s explosive and exciting entrepreneurial arena is why this book is written,” said Silverman.

“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, understand and use Fortune 500 new venture ‘best practices’, 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 create winning strategies.“8 Building Blocks to Launch, Manage, and Grow a Successful Business” .…. 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 What Readers are Saying

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    paulbsilverman.com/blog/

Media Kit for Press at  Media Kit -8 Building Blocks-071515

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 , , , ,

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 Forbes Article – “Don’t Rube Goldberg Your IOT”

12Commented on Forbes Article – “Don’t Rube Goldberg Your IoT”

To successfully develop IOT solutions, we need to recognize IoT is a technology and learn from lessons from past revolutions such as e-commerce, EDI, and others. We need to also understand the role analytics will play in the IoT revolution which I also emphasized in my comments.

Here is a copy of my comments:

Thanks for the insightful IOT article and how you can avoid a ‘Rube Goldberg’ technology solution.

I have concerns about today’s IOT revolution based on my experience, working through other ‘revolutions’ such as e-commerce, EDI, cloud computing, analytics, and others. We are making progress on technology, security, interworking and similar challenges but I see lessons learned from other revolutions we must address.

Here are the 3 top critical success factors needed to create a mass market IOT:

1. Standards must move from ‘corporate’ internetworking to ‘market’ internetworking
We learned in the e-commerce/EDI revolution that spending the time and effort to develop standards for internetworking between suppliers, distributors, and customers provided the measurable benefits needed to ensure success. My experience addressing this challenge in the pharmaceutical/global distributor sectors confirmed this point. We need IOT standards for key sectors to provide the framework for growth.

2. Business strategy and process optimization must drive IOT, not technology

IOT is a technology – developing optimum, sustainable IOT solutions demand an experienced, multi-dimensional staff with strategy, financial, analytics, process analysis, and technology skills. The CIO will play a key role but … READ MORE AT Forbes Article- Dont Rube Goldberg Your IoT July 6

—————————————————————————————————————–

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 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 , , , , , , , , , , , , ,

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 , , , , , , , , , , , , ,