5 Critical Tips for Start-ups

1. Strong business model and good technology 

Green Business of 2011

Startups must have a strong business model and core fundamentals, in addition to great technology. It is only when all three are put into place that a business could consider itself sustainable, robust and resilient.

Let’s take all those dot-com businesses. How many of them made it through to their third, fifth or tenth year? They might have had the technology and knowledge how to operate it but only those with good business model and strong vision for the future are still on the market.

For example, eBay, Netflix and Shutterfly are still in the news when you open the newspaper, although they have to compete with far more popular Facebook or GroupOn. The reason for this is that they did not only fulfilled a real need but also because they took a long-term view of their business and did not pursued "short-term profits" is key to longevity.

Top money mistakes made by young entrepreneurs

Have you been there?

Being young entrepreneur is attractive and exciting if you are smart and creative. It could be quite glamorous as well. But there are times when it looks as a daunting task.

What are the top money mistakes made by young entrepreneurs and how to avoid them? Amber Cameron, Young Entrepreneur of the Year at the 2011 Moose Jaw Business Excellence Awards shares her experience.

Firstly, who is she?

Ms. Cameron opened the Radiant Skin Clinic in Moose Jaw in March of last year treating 300 clients by the end of the first year. The clinic offers several treatments, ranging from chemical peels to hair removal to Botox. Now its customers have topped the 1,000 mark.

While Radiant Skin is a success, Ms. Cameron knows all about the financial mistakes young entrepreneurs can make. And her opinion is shared by a number of experts.

1. ‘However much money you think you need, you need more than that.’ Undercapitalizing your business is a big issue.” 

Old? No, That's Not Me!

What’s the trend?
Actually, retro is so in right now.

Act your age?
Hardly.


The changes that we see in consumer behaviour have made demographic segmentation based on age almost useless. Any assumptions associated with age can pretty much be thrown out the window.
Today’s seniors are living and working longer than any before them, while looking like much their younger colleagues and associates. The Boomer generation has refused to let go the trend of young-as-cool and by doing so it has changed the market in two key ways:

• They redefined what getting older means or doesn’t mean.

• They brought up the next generation as free-thinkers, who act as adults before even being able to vote and never actually growing up. 

In a nutshell, be aware that modern consumers have become simultaneously more diverse, more open and less bound by convention – especially age.