American - Businessman | January 31, 1961 -
The strength of brand loyalty begins with how your product makes people feel.
Jay Samit
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Networking is all about connecting with people. But then again, isn't that what life is about? The more time you can find to get out of the office and build true friendships, the farther your startup will go. Entrepreneurs need to remember to spend as much time working on their business as they do in their business.
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There is no better feeling than doing well while you are doing good. If you really want to meet the nicest, most caring people in your field, get involved with charity work. The thankless hours that go into planning charity dinners, running a carnival, and gathering donations for silent auctions are noticed and appreciated.
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There is a huge difference between failing and failure. Failing is trying something that you learn doesn't work. Failure is throwing in the towel and giving up. True success comes from failing repeatedly and as quickly as possible, before your cash or your willpower runs out.
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The very first thing I tell every intern on the first day is that their internship exists solely on their resume. As far as I am concerned, they are a full-time member of my team. For all the negative stereotypes about millennials, you would be astounded by how hard they work when they believe their contribution matters.
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To thrive, all businesses must focus on the art of self-disruption. Rather than wait for the competition to steal your business, every founder and employee needs to be willing to cannibalize their existing revenue streams in order to create new ones. All disruption starts with introspection.
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Never expect that your startup can cover every aspect of the market. The key is knowing what segment will respond to your unique offering. Who your product appeals to is just as important as the product itself.
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As every entrepreneur and investor sifts through year-end data to predict the next trend or opportunity for financial success, there is a much easier way to accurately predict the future: hang out with those who are creating it.
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The greatest challenge to most innovation centers around the world is many nations' punitive attitudes towards failure. In most of the world, if your first business fails, no one will work with you again. But, trial and error is the genesis of innovation.
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State funds, private equity, venture capital, and institutional lending all have their role in the lifecycle of a high tech startup, but angel capital is crucial for first-time entrepreneurs. Angel investors provide more than just cash; they bring years of expertise as both founders of businesses and as seasoned investors.
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The secret to fundraising comes down to three magic words: before, more, and strategic.
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Design is how you make your first impression with your consumers. Make sure it is a lasting one.
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