Entrepreneurship | wealthymatters

Making Your Business Saleable

February 10, 2013 1 Comment

wealthymatters

Even if you are not the sort of person to build a business to take it public or sell it to a strategic buyer,it makes sense to build a business you can sell. After all there might be a day when you can no longer work and your business might be one of your major assets;An asset you can no longer manage or your children might not take to business or perhaps a particular business despite all your efforts to groom them etc.So who knows when you might find yourself using BizBuySell or something else along the lines?

With the day-to-day demands of running businesses, most owners put off getting a valuation until a sale is imminent. But its a good idea to start treating the valuation of businesses as an integral part of running them. If you like to think you’re building something that you can sell someday and don’t focus on valuations, you don’t know if you really are. BizEquity and uValue, an iPhone app developed by Aswath Damodaran, a valuations expert at the Stern School of Business at New York University, might be places to begin. Read more of this post

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Coping With Change

February 10, 2013 2 Comments

Cope with change by staying calm, adaptable and open to support.

Here is some excellent advice from Alex :

Life is always changing, often those changes can be unexpected and those things that we tend to take for granted can be lost to us.

Change in life is rarely rainbows and happy smiles, more likely unexpected shocks that are challenging and sometimes traumatic. Change presents challenges and uncertainties that change relationships.

The first rule in dealing with change is to stay calm. If you lose your head you are going to make mistakes and cause more problems for yourself.

The second rule is to adapt to the change. No point fighting to oppose and control change. Better to flow with the change.

The third rule is call in support, a friend or ally to help you cope with the change.

Filed under Entrepreneurship, Tool Kit Tagged with adapt to change, challenges, coping with change, postaday, stay clam, support system, uncertainities

The Chobani Story

February 10, 2013 2 Comments

wealthymatters Chobani is a brand of Greek yogurt.Five years ago,the brand had next to no revenue.This year the revenue will be more than $1 billion.The brand grew more than 2662% in the last three years and has made its sole owner,Hamdi Ulukya,a billionaire.

Hamdi grew up milking sheep at his family’s dairy in Eastern Turkey. He ate the thick, tangy yogurt of his homeland day and night. He claims that his mother made the most amazing yogurt and that he and his five brothers fought over who would get the scrim of cream on the surface.

After studying political science in Ankara University,he came to New York City in 1994 to learn English. Uncomfortable in the city, Hamdi moved upstate, where he found farm work while attending classes at State University of New York at Albany. Read more of this post

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Lifebuoy Campaign At The Kumbha Mela

February 8, 2013 4 Comments

At the Kumbh Mela, the largest congregation on earth, a lot of businesses are vying to sell their wares and boost their brands.The Maha Kumbh provides a unique opportunity to communicate messages to a large, predominantly small-town and rural population.An interesting promotion that stands out at this year’s Mela is Hindustan Unilever’s ‘Roti Reminder’ for its Lifebuoy soap brand.The campaign started on February 1.

For this promotion,HUL, the country’s largest consumer products firm, along with creative agency Ogilvy, has partnered more than 100 dhabas and hotels at the Mela site to serve rotis that are stamped with “Lifebuoy se haath dhoye kya?” (Have you washed your hand with Lifebuoy?). The company has made special heat stamps to make an impression of its message on rotis and hired 100 promoters to stand in 100 kitchens across the Mela. Read more of this post

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The Genesis Of AirBnB

February 3, 2013 5 Comments

Joe Gebbia and Brian Chesky were friends from Rhode Island School of Design.In 2006,Joe asked Brian to move to San Francisco to start something.Unfortunately by October 2007,even as the duo had nearly run through their meagre savings,their landlord hiked the rent by 25%.Their situation was bad.They had no money to pay the next month’s rent.They did not even have an idea for a business.

The Industrial Design Society of America holds a specialized conference around the world once in 20 years.They picked San Francisco in 2007.The week Joe read the landlords missive with a sense of impending doom,San Francisco was abuzz with an acute shortage of hotel rooms for the IDSA conference.They rented out space in their living room that weekend.Joe coded and put up a small website advertising their living room.For $80,a person got a room,airport pickup and breakfast.As Brian and Joe pulled out three airbeds from storage to accommodate their guests, they named their service AirBnB. Read more of this post