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Entrepreneurship

Healthcare is one of those sectors which will require major innovations to set correct. Presently costs are soaring and alternatives are required to ensure universal health coverage. Three entrepreneurs in particular have come close to it through their transformative business innovations. The first of them is Kuppuswamy Chandrashekhar who started Forus Health with specific focus on eyecare. Then there is Dr. Vishal Rao also from India who invented AUM which is an affordable voice prosthesis device. It helps in restoring speech to throat cancer victims. And finally, there is Dinesh Seemakurty to complete the Indian trio. He founded Stasis Labs. Among other things, it invented a device to monitor the vital signs of a patient. All these innovators could have taken up comfortable high-paying jobs, but their passion towards their trade ensured that they took the additional steps to make affordable healthcare a reality.

Source:https://hbr.org/2018/07/3-entrepreneurs-who-made-it-their-mission-to-lower-health-care-costs?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM9475

Uploaded Date:18 July 2018

Conventional wisdom as adopted by Venture Capitalists (VC) is that two-member founder teams are more effective that solo ones. Famous examples such as – Jobs and Woz, Larry and Sergey – point out to this trend. No one person can ever be adept at all aspects of business. Founding teams tend to have greater access to capital, stronger networks and better access to talent recruitment sources. Yet, some studies have suggested that the truth may be otherwise. Taking cues from solid examples such as Jeff Bezos, Oprah Winfrey and Sara Blakely, solo entrepreneurs have been proven to be more successful. A study was conducted using data provided by Kickstarter to assess who are doing better. Solo founders were 2.6 times more likely to own an existing for-profit venture. There were fewer early exits. VCs must study this trend and invest accordingly in the future.

Source:http://mitsloan.mit.edu/newsroom/articles/2-founders-are-not-always-better-than-1/?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=solo

Uploaded Date:04 July 2018

Entrepreneurship is not just needed at start-ups but also at established large firms. It is termed as intrapreneurship. This intrapreneurship is the case of proactively acting like an entrepreneur within the confines of a large firm. This helps organizations to keep pace with nimble-footed start-ups that are digital natives. Business innovations thrive when individuals take up ownership of work and establish newer streams. Google has a “20% time” formula where employees need to spend a fifth of their time on such innovations, while at Facebook several such new ideas emerge out of their hackathons. Such value creation need not be purely by building from scratch or by investing own money. Companies must actively introduce such intrapreneurship. Some such measures could be Idea fairs, Sandbox funds or hackathons. Even large corporations cannot often see beyond their origin. Google for example still earns a huge portion of its revenues from searches. Kodak and Lehman Brothers eventually folded due to the inability to see beyond their traps of origin. That is why such intrapreneurship is crucial.

Source:http://mitsloan.mit.edu/newsroom/articles/a-guide-to-intrapreneurship/?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=intrapreneurship

Uploaded Date:04 July 2018 

Learning must be a lifetime vocation, with real-world experiences always the best instructors to entrepreneurs. Now due to the proliferation of online courses, constant learning is no longer just a buzzword, but a reality. Some such courses have been identified, beginning with Coursera’s “learning how to learn”. An intro to Artificial Intelligence (AI) course is available at Udacity, facilitated by Stanford University, but with a prerequisite of an academic background in related subjects. Udacity also has a programme on learning content-based digital marketing. Google has a specific IT professional certification, while Udemy runs a crowdfunding course for Indiegogo and Kickstarter. There is one workshop on killer business ideas, and another on time management. Future Learn does one on ethics and Lynda.com on critical thinking. A must for anyone working with business analytics is the course on GDPR (General Data Protection Regulation) offered by an arm of the EU. Other courses exist on body language, virtual reality, well-being, crisis management andblockchain.

Source:https://www.entrepreneur.com/article/314617

Uploaded Date:22 June 2018

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