So it’s an equal playing field after all. Companies in mature industries can be just as creative as startups, according to a new study conducted by professors from Boston University and Harvard Business School.
In “How Does Innovative Activity Change as Industries Mature,” Boston’s Anita M. McGahan and Harvard’s Brian Silverman analyzed the patent applications of publicly traded U.S. companies from the early 1980s to the mid-1990s.
They found innovation doesn’t decline with age. Using algorithms, the study identified an average of 75,000 to 100,000 patents per year per industry, which includes manufacturing, agriculture, transportation, retail, financial services, entertainment, and business services. This doesn’t change when you throw in “emerging industries.”
“The results surprised us a great deal at first because conventional wisdom has us believing that new companies are more creative while older companies don’t have the incentive to be as innovative,” McGahan says. The study also found that industry leaders can be “displaced” no matter how many patents they hold.
The two professors reason that while young companies often rely on a great new product automatically attracting market attention, they don’t understand how tough it is to attract customers to that product, no matter how great. But established firms are often much better at marketing. “And they have the advantage of established brand names, distribution channels, and marketing programs,” says McGahan. Startups may only be left with the patent.
Working for yourself, from employee to entrepreneur is the end goal of a new career. But the transition from employee to entrepreneur is like climbing over a wall.
Got the Guts To Be an Entrepreneur?
Remember the Berlin Wall? During the Cold War when East and West were separated by that infamous wall, many freedom-seekers risked being shot by border guards while attempting to climb over that wall.
If you choose the parallel career way to be an entrepreneur, you are as brave as those freedom-seekers. You are willing to take risks (calculated ones though), make changes and set goals for your future.
It has been a whirlwind couple of weeks … first it was spent celebrating my brother’s wedding in the gorgeous Tuscan countryside then heading to Florence for a few days on our own (promise to share next week). We’ve now been back in London a week and I’ve been so sick that I’ve been locked up at home. There was a brief Canadian thanksgiving celebrating over the weekend. I couldn’t completely indulge in seconds and thirds as I would have liked, but it was fabulous.
Looks a little like my last week…
I have been writing an interior blog about Scandinavian style and what inspires me since June and in October I opened a webshop with products from new and upcoming designers from the Nordic countries. One of our recent additions are the beautiful prints by Ylva Skarp.
If you want to make real money online, spread your brand and build trust with your audience, you need a product.
No matter how small your operation might be, creating your own product is the best way to gain clients and customers, spread your message and, let’s face it – make money!
My friend is now taking GMAT classes and applying to an MBA program and all she talks is how every small business is missing the boat because they are afraid to create their own product. I understand this fear. For us, entrepreneurs, product creation can be intimidating the first time, which is why she and I got your back with a free MBA inspired report.
When you download your copy of this free report (see bottom), I’ll show you how to simplify the process of product creation and roll out your first money maker in one weekend.
That’s right, starting Friday night, you can be selling by Monday morning, with plenty of time to play in between. And if you think yourself about getting an MBA degree check this website for MBA courses that don’t require the GMAT.
HERE’S WHAT’S INSIDE
ALL SUCCESSFUL PEOPLE AGREE THAT THEY WERE SUCCESSFUL BECAUSE THEY WANTED TO DO SOMETHING WITH THEIR LIFE. THEY WANTED THEIR LIFE TO MEAN SOMETHING BEFORE THEY LEFT THIS WORLD. THEY THEN SET ABOUT ACHIEVING THOSE GOALS AND AS A RESULT, THEY GOT RICH. SEVERAL OF THE PEOPLE INTERVIEWED BY RICHARD ST. JOHN, HIMSELF VERY SUCCESSFUL SAID THEY WOULD HAPPILY PAY SOMEONE TO DO WHAT THEY WERE NOW DOING THEY ENJOYED IT THAT MUCH.
So ask yourself this question, “What do I want my life to mean?”
Then write down your dream life as if it has happened, really see it in your minds eye, write down what you will have to give up to achieve that, write a plan to start you on the path to success, lastly write down one simple thing you will do each day to get there.
I’m super excited, after almost 3 months of hard work of my colleagues and I, our free GED online classes are ready for students. The GED (General Education Development) program is aimed at helping adults improve their career options and giving them a chance to access higher education if they pass the GED exam. In the US there are around 40 million adults who do not have a high school diploma or equivalent.
More than 500,000 people complete the GED exam every year. The new GED exam now consists of four sections: Language Arts (reading and writing combined), Mathematics, Science and Social Studies. Our GED prep classes allow online preparation and are free of charge, they consist of online lessons with audio and questions that check your comprehension of the topic that was mentioned in the lesson.
We also work on extensive guidelines for students about effective studying. I thought this subject can be also interested for you so here is a summary. Do you want to check your knowledge? Try our new practice test to get all set for the GED, I can assure you it’s not that easy.
How much money would it take for you to sue your entire family? What if 100 million dollars was at stake? Would you sue your mother? Stop talking to your children? I know, it sounds absurd, but people do it. And I’m not sure if I should judge them until I’ve been in their shoes. Let me explain.
In case you’ve been living under a rock, or don’t read my blog, you’ll probably know that on Monday I started my new job as manager of a lovely little Spar just down the road from my house. Since Monday I don’t think that my feet have hit the ground at all. I’ve been off for one day, and even then I ended up in the shop so that I could transfer stock down to my old shop to get rid of it.
It’s been an eye opener. It’s a fantastic little shop and the sheer volume of customers and sales is shockingly high. I can’t believe so much stock can move of the shelves that quickly. It’s certainly going to be a challenge improving on what’s already a fantastic little store, but I’m sure I will manage it.
Last year when I submitted my college applications, I remember wondering often if I was sure enough of where I wanted to go to school. Now, my girlfriend is beginning to apply to schools, and she’s feeling anxious because she’s really not sure where she wants to go still.
Obviously, before turning in college applications, you have a nice variety of colleges to choose from. But once application due dates start hitting, your options will become much narrower. This can be a good thing, or it can be a bad thing, depending on how you want to look at it. But whichever way, it’s important to feel at least some level of certainty with the schools you chose to apply to.
You want each school you send an application to be a potential choice for you, not just some school you choose for the sake of choosing. Unless you have enough money to apply to schools simply for bragging rights, applying to schools on a whim is going to cost a lot of money (and time).
Here are some ways of helping to feel good about your choices:
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