HBR – Larry Cheng, a partner at Fidelity Ventures, emphasizes that great entrepreneurs possess passion, perseverance, and meticulous attention to detail. Successful venture investments align with personal interests and prioritize value creation beyond capital. Cheng advises founders to focus on clear priorities to avoid diluting their efforts and underscores the role of luck in entrepreneurial success. Failure, he notes, is an essential learning experience.
Empathy and Proactivity: Unconventional Approaches to New Boss Challenges
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Executive coach Sharmin Banu suggests practicing empathy with new bosses making rushed decisions. By understanding their pressures and stress, employees can better navigate challenges. This unconventional approach of “putting yourself in your boss’s shoes” can help mid-sized companies maintain stability during leadership transitions.
Organizational psychologist André Martin advises asking new bosses two key questions: “What do you need?” and “How can I help?” This proactive approach helps employees build trust and influence decision-making. For mid-sized companies, this strategy can foster better communication and reduce conflicts caused by hasty leadership decisions.
By Rebecca Knight | SEP 11, 2024
Read the original article at HBR
Outsmarting Giants: Unique Strategies from Warby Parker and Dollar Shave Club
1. Warby Parker, a small eyewear company, challenged industry giants by selling directly to consumers online, cutting out middlemen. This approach allowed them to offer high-quality products at lower prices, gaining a loyal customer base and forcing larger competitors to reconsider their own strategies.
2. Dollar Shave Club, a small startup, took on big razor brands by offering affordable subscription services and using humor in marketing. Their unconventional branding and direct-to-consumer model disrupted the market, leading to their acquisition by Unilever for $1 billion.
By Amanda Breen | AUG 14, 2024
Read the original article at ENTREPRENEUR
Boosting Value and Gaining Trust: How The Humphrey Group Outpaced Competitors
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1. The Humphrey Group discovered that raising prices for executive training made the service more valuable in clients’ eyes. Instead of cutting prices, they focused on quality, which attracted high-paying clients and set them apart from competitors.
2. The Humphrey Group used referrals from satisfied clients to gain new business. By mentioning a trusted name, they built immediate credibility, making it easier to win over potential clients and outmaneuver larger firms.
By Judith Humphrey | AUG 12, 2024
Read the original article at FAST COMPANY