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Richard Branson’s Tip on Being an Entrepreneur

Richard Branson is probably one of the most well known and successful entrepreneurs after establishing more than 400 companies under Virgin Group.  Of these companies, Branson has had tremendous experience, which has given birth to several great insights.  One of which being learning to delegate.

Branson claims that his success comes from the people around him.  In the article Richard Branson on Learning to Delegate on entrepreneur.com, Branson was quoted saying, ” the answer is Jack and people like him, because they had skills that I did not. In some areas they knew better than I did how to make my vision a reality.”  This is a very unique perspective and is honestly very true.  My dad has started his own company and often quoted something similar in that he always hires people who are smarter than him.

One thing most entrepreneurs fail to realize is delegation.  It is easy to become full fetched in your idea or business in pursuit of perfection.  Even if you end up doing the best work, at the end of the day it is not as time efficient as having someone or multiple people for that matter focus on the project.  At that point, the work you have completed has lost its value given the time it took to complete.

When I first thought of delegation, I had really only thought of it in a traditional business sense.  My vision was a manager in an office, asking his employees to complete a various task.  Through certain technological advancements, delegation has expanded into various internet businesses.  Whether it is delegating a project via email or using a collaborative website such as Basecamp, the possibilities are endless.  Again, it is just getting the mindset of trusting others to help you along the way accomplish your vision.

 

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The All Natural Subscription Box

Subscription boxes have been an ongoing trend recently and another company decided to take advantage of that trend along with natural foods.  That company is called NatureBox.  NatureBox provides customers with its in-house all-natural snacks.

The company offers over 100 different snacks, of which the customer selects 5 different snack options to be delivered per month.  These snacks have no hydrogenated oils, no artificial colors, sweeteners, or flavors, and no added sulfites.  They have even focused on the Vegan and Gluten Free market, by offering just over 60 snack options.  All of these snacks are backed by a 100% guarantee.

NatureBox first started in 2012 and has been extremely successful.  In three years the company has shipped 1 million boxes, most of which coming in the Midwest due to the lack of Whole Foods stores in that geographic area.  One of the keys to success for NatureBox has been their increased online presence.  They have generated a lot of traffic from their personal blog and have used FaceBook to accumulate a large following.  In fact they have reached 931K followers, and are now focusing on other social media sites such as Twitter, Instagram, and Pinterest.

This company has seen an exuberant amount of growth in the past three years and has proven to have started another successful subscription box service.  What a great success story.

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Watch Out Angie’s List

Gone could be the days in which people verify certain home services on websites similar to Angie’s List.  A new internet company has emerged, Handy.  Handy allows customers to not only look up services such as cleaning, painting, assembly, etc. but allows customers to book appointments right on the site.  So instead of going on Angie’s List and looking up a verified business and calling them, Handy allows you to schedule right there without even picking up your phone.

Upon hearing about this site, I immediately thought of OpenTable.  For those who are not familiar with OpenTable, it allows users to book reservations on their smartphone without calling the restaurant.  An emerging trend in today’s world has been the fear of actually calling people.  Yes this does exist and has emerged through the growth of digital communication.

Handy has taken full advantage of this emerging trend and has since been a rather profitable company.  It is reported that they take 20% of the bookings in which the site averages 10,000 bookings a week.  This company is a great demonstration of apply current trends to currently existing ideas to create a brand new business idea.

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Want to Learn New Skills

skillshare-

For those with a creative nature, a new internet company has recently been formed to help others learn new skills.  The name of this site is Skillshare and they have created a community of people who are both teachers and students.  Here is how it works as a teacher.

To be a teacher on this website there are no prior requirements like other teaching positions.  Thus you do not need to be a teacher or have a Ph. D.  All they ask is that you understand the item you are teaching and follow their publishing guidelines.  From here the teachers are compensated based on royalties as well as for bringing new users to the site.  Items that can be taught include Crafts, Culinary, Design, DIY, Entrepreneurship, Film, Fashion, Gaming, Music, Photography, Technology, Writing, and Creativity.

Students who have an interest in any of these subjects then have the ability to sign up for a monthly membership that provides access to all of their online classes.  Once a member they click on class that interests them and they view the online videos demonstrating what they will be learning.  There are even interactive activities that go along with the video lesson to further enhance the learning process.  If you run into any issues there is also a community of which you can chat with online.  Upon completion of one of your projects, you can even post it to the community for others to view and comment.

This is a neat business approach and really puts an emphasis on affordable learning.  I personally find this neat because there have been plenty of times where I have wanted to explore and learn more about certain design software but did not want to spend an arm and a leg.  Skillshare has solved that problem by creating a way to compensate those creative experts to teach their skill-sets to others.

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Amazon Changing e-Commerce Again

For those who are unaware, Amazon recently announced a new service called Prime Now.  This service gives customers with Prime living in select Baltimore and Miami zip codes the ability to order packages and receive them within a few hours.  Prime members who want their package delivered in one hour can pay $7.99, while two hours is free.  In order for this process to work, the products they deliver will be limited, consisting mainly of those daily essentials.

With this new delivery system, comes the question of what will happen to the traditional brick and mortar stores?  How can these traditional stores compete, when customers don’t have to leave the comforts of their own home?  I can see this posing a significant issue and even creating increased competition, especially in urban areas.  I personally wouldn’t leave my house, knowing I can order whatever I want from my phone.

This is a very unique technology and could change the way people shop.  Who knows what this is capable of and what other industries will utilize this concept.  Please leave any comments or thoughts you might have on the matter.

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