Entrepreneurship Archives

Safi Bahcall: How to Encourage Innovation

How can companies encourage innovative thinking? What can you, as a leader, do to inspire creative ideation that translates into a useful innovation? According to Safi Bahcall, the author of Loonshots, companies focused on innovation should separate innovators from implementers. This is because innovation tends to occur in a climate that’s highly unstructured. Successful implementation, however, needs order and structure. Here’s how to encourage innovation in your organization.

The 5S Implementation Plan: A Step-by-Step Approach

Where does Toyota’s cleanup process begin? What is the 5S implementation plan? In The Toyota Way, Jeffrey Liker says that the heart of Toyota’s approach to efficiency is the concept of kaizen, or continuous improvement. To begin kaizen, you have to start with the 5S implementation plan to reduce waste. Let’s go through the steps of the 5S implementation plan in detail.

How to Make Money as an Artist: 7 Ways to Sell Art

Are you struggling to earn income as an artist? What are some ways to sell your art? In Show Your Work!, artist Austin Kleon emphasizes there’s nothing wrong with making money off your work. He provides three methods of earning income from your art so you can make it into a career. Read below to learn how to make money as an artist.

Loonshots: Meaning and Key Characteristics

What is the meaning of “loonshots”? What are some examples of loonshot ideas? Loonshots are ideas that are so original and ambitious that they and their creators are initially dismissed as crazy (e.g. radar, insulin, computer animation). Loonshots begin as flawed, incredibly fragile ideas that almost don’t make it, which is why they require special care. Here’s why loonshots are so fragile as well as why organizations tend to leave loonshots behind as they grow.

Benefits of Scrum: How Scrum Leads to Happy Teams

What are the main benefits of Scrum? Can the Scrum method really lead to happier teams? Scrum is a framework created by Jeff Sutherland made to help people and organizations efficiently solve complex problems with creative solutions. The Scrum method is also designed to create happy, productive, and creative teams. Here’s a look at the benefits of the Scrum method.

How to Use a Tactical Business Plan to Reach Goals

What is a tactical business plan? How can a tactical plan help you turn your business goals into reality? Identifying your business goals is important, but it doesn’t mean anything if you don’t have a plan to execute those goals. In their book Execution, business leaders Larry Bossidy and Ram Charan teach you how to make a tactical plan to bring your business goals to fruition. Here’s how to create a tactical business plan.

Toyota Company History: The Start of Toyota’s Success

What is Toyota’s company history? How did lean manufacturing become popular? In The Toyota Way, Jeffrey Liker recounts Toyota’s history as a car manufacturing company. He explains the beginning of the Toyota Production System, better known as lean manufacturing. Continue reading to learn more about the history of Toyota.

Tips for Finding and Retaining Top Talent

Does it feel like many of your applicants are underqualified? How can you find and retain talent at your company? With such a competitive job market, there’s an abundance of applicants to sift through. The problem is that it’s difficult to tell which of those applicants would be a good fit for your company. Additionally, once you’ve chosen to hire someone, it can be just as challenging to keep them. Here are some tips on finding and retaining talent from the book Execution.

The 3 Company Virtues Every Business Should Have

Do people in your organization feel free to air their concerns? Do they trust each other? In What You Do Is Who You Are, Ben Horowitz draws lessons from samurai warriors on how to develop your organizational virtues. While he believes that you should choose virtues that are customized to your company, he argues that all organizations should have these three virtues: trust, freedom to speak freely, and loyalty. Here are the details on these three essential company virtues.

The Benefits of Working in Small Teams

Are small teams more or less effective than larger teams? What are the benefits of working in small teams? Management expert and creator of the Scrum method, Jeff Sutherland, says that working in small teams is more efficient than in large teams—he says that the ideal team size is five to nine people. Small teams promote communication, expand roles, and increase efficiency. Here’s a look at the benefits of small teams.