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As an entrepreneur your level of success ultimately boils down to your consistent ability to turn problems into profit. Starting a business is simple, but rest assured that there is no such thing as an easy business when it comes to operating day in and day out. Get ready to use these tips below the next time the "fit hits the shan". Via The Learning Factor 
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Frugal innovation is associated with resource-constrained and low-income emerging economies such as those of Africa, India, and China, but we have recently seen the rise of frugal innovation efforts in developed nations including the U.S. and in Europe. These are not primarily cost-cutting measures, a response to financial constraint or a tepid economy. Rather, across the developed world, companies are beginning to use frugal innovation as a growth strategy. They are introducing a larger lineup of new products and services, often with greater economic and social value, at a much lower cost and using fewer natural and financial resources. Their goal is not to create cheap offerings. They want to create more effective offerings that draw people in with their simplicity, while also cutting down on the use of various resources.
It turns out that the four key attributes of frugal innovation — affordability, simplicity, quality, and sustainability — are exactly the qualities that customers in mature markets want most. This makes frugal innovation a viable growth strategy for companies expanding in those markets, not just in emerging economies. Via The Learning Factor
The Learning Factor's curator insight,
November 5, 2015 4:39 PM
Pioneering companies in mature economies are learning from emerging market companies a new way to expand their businesses. The four key attributes of frugal innovation are exactly what customers in mature markets want most. |
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Are you one of the never satisfied strivers?
The type of person who, despite having some obvious successes in life--a solid career, a modicum of financial security, the respect of your peers--just never feels like you've quite made it?
Are you always a little worried you could be accomplishing more?
If so, you probably feel kind of crummy sometimes compared to your more easily contented competitors, but according to new research out of Stanford, all your ambition has a serious upside (hat tip to Science of Us for the pointer). Perpetually feeling like you're a bit unsuccessful, it turns out, is a pretty good sign you're going to go on to achieve even greater things. Via The Learning Factor
The Learning Factor's curator insight,
March 2, 2017 6:01 PM
Feeling like you have something to prove keeps you fighting, new Stanford research shows. 
rodrick rajive lal's curator insight,
March 3, 2017 12:49 AM
Feeling unsuccessful might be good after all! A New Stanford study suggests that it is better to feel unsuccessful at times, rather than feel successful and satiated at times. Complacency and satisfaction might be obstacles to progress. What we need for constant progress is hunger. Hunger is the key to success. Organisations introduce disruption for the very fact that stagnancy and fixed routines might spawn laziness. 
Bryan Worn's curator insight,
March 6, 2017 2:57 PM
Comparisons are debilitating. There is always someone else who appears smarter, dumber, prettier, uglier, faster, slower etc. than us. This study shows once again the best way to fulfilment is through learning to be the best we can be. |
6 tips to overcome adversity and turn problems into profit.