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The ability to evaluate a business idea is a valuable skill that could not only save you time and money, preventing you from starting a non-viable business, but also help you understand how you can grow and scale the business once it's established.
In July 2012, while managing a large Westpac branch, he came across an interview with the founder of a well-known personal budgeting company which claimed they had created a new category in personal finance.
The biggest mistake you can make when pitching your company to a crowdfunding platform is to over-value your company. A good business idea is a powerful thing but without funding it will likely come to nothing. So don’t make the mistake of assuming the idea is worth more than the funding that will make it a reality.
There are no wrongs or rights when it comes to starting out - mistakes are part of learning - but here are four tips on starting a successful business.
Although much can be learnt from failed companies, most teenage entrepreneurs are just starting out, and it can be demoralising to have your very first company fizzle. That is why it is very important that you try to start a business that intrigues you or is in a rapidly changing industry. Here, 18-year-old Aonghus Stevens offers some advice to fellow under-20 business builders and aspiring teenpreneurs.
From Levi Strauss’ canvas pants to the minimalism of Twitter, every invention has its detractors. While Ryan Spanger counts himself among the indignant, he suspects something is amiss in our rush to judgement. When we learn to think beyond our gut reactions, he argues, we learn how to make innovation work for us.