ENTRYPLUS BLOG


Title: How to overcome the risks for your startups ( the biggest risk is not taking risk)

Publish Date: 2020-06-20 04:14:44

A Good Read about the article from Founders Institute..

3 Steps that lead to risks that many startups fail..

1. Ensuring the validity of customers problems / assumptions..

2. Ensuring these problems represent a monitizable pain.

3. Ensure that you have the path or can build a path to the customers channels.

4. Gain the business knowledge expertise  ..


I liked the final thoughts of discussion that many of us dont want to leave our comfort zone and take any risk..

Biggest risk for a startup to fail is not willing to take any risk-- Quote from Mark Zukerburg  -  

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“Risk comes from not knowing what you're doing.” - Warren Buffett

There are a multitude of risks that come along with launching a tech startup. When you take your first step on the path of entrepreneurship, not only do you have to invest your own personal funds in the venture, but you must sacrifice your family, social, and work life to build your dream company. This is a lot to put on the line for something that may fail before even getting off the ground.

While there is no surefire way to found a successful risk-free startup, there are plenty of ways to help you identify and remove many of the risks that face your company. Taken from top industry experts, this blog post is full of startup tips and tricks to help give you peace of mind as you launch your venture.

What Are Your Business Assumptions?

The first step to identifying and eliminating the risks your startup faces is to lay out your business assumptions, which will serve as the foundation of your business plan. According to Inc.com, “An assumption is a statement that is presumed to be true without concrete evidence to support it. In the business world, assumptions are used in a wide variety of situations to enable companies to plan and make decisions in the face of uncertainty.”

While it may be easy to gloss over the importance of carefully listing out your assumptions, taking the time to do so will greatly affect the future of your startup. In the Ivey Business Journal article, “Strategic Assumptions: The Essential (and Missing) Element of Your Strategic Plan,” Mark Hollingworth posits that assumptions reflect the vision, strategic map, and performance targets of a business, and are vital to the success of your company.

Your company’s business model should be comprised of nine basic building blocks, which are listed out below:

  • Your Customer Segments. Tabulate all of the people and/or organizations for whom you are providing value.
  • Your Value Proposition for each segment. Describe your product and its features that will create value for your customers.

  • The Channels to reach your customers. List out the means by which you interact with and deliver value to your customers.

  • The Customer Relationships you establish. Describe what type of connection or exchange you plan to establish with your customers.

  • The Revenue Streams you generate. Detail how your company will capture value and the pricing methods you will employ.

  • The Key Activities you require to create value. Illustrate the essential actions your company needs to make to perform well.

  • The Key Resources you require to create value. Tabulate the necessary assets for your infrastructure to create, deliver, and capture value.

  • The Key Partnerships. List out who can help you leverage your business model since you most likely do not have easy access to all of your key resources, nor will you be able to perform all of your Key Activities on your own.

  • The Cost Structure of the model. Once you clearly understand your business model’s infrastructure, you should then have an idea of its cost structure.

Each of these elements must be accounted for, which means that you have to clearly describe your hypothesis, or assumption, for every aspect of your business model which will then be tested later on.

To help you organize your business assumptions, here is the Business Model Canvas created by Alex Osterwalder, speaker, author, and co-founder of Strategyzer:


Rank Your Assumptions

Now that you’ve thoroughly organized your business assumptions, you must prioritize them based on their risk factor. In the LeanStack article, “How to Identify Your Riskiest Business Model Assumptions”, Ash Maurya, author of Running Lean: Iterate from Plan A to a Plan That Works, states that regardless of how amazing your company is, you should continuously strive to eliminate the risks that face your company. If you neglect to take the time to accurately rank your riskiest assumptions, no amount of experimenting and iterating will increase your chances of mitigating the obstacles that face your startup, and you will fail to rise above what Maurya refers to as the “ceiling of achievement.”

It makes sense that the riskiest assumptions require the most attention, yet you cannot simply rely on your own intuition and expertise correctly prioritize your company’s risks, regardless of how business-savvy you are. Luckily, Mayra has provided a couple of ways for you to get started.

Start with the 3 Universal Risks

If you’re not sure which types of risks will demand the most scrutiny, begin by taking a look at the universal risks that apply to almost every product. These are:

  • Ensuring your customer/problem assumptions are valid.
  • Ensuring these problems represent a monetizable pain (revenue stream).
  • Ensuring that you have a path or can build a path to customers (channels).

Talk to Domain Experts

Take the time to meet with experts and advisors with experience in the industry you’re working in. Assuming you’re meeting with knowledgeable authorities, this can be a valuable means of discovering the potential risks  that your startup faces. However, keep in mind that you may receive conflicting views on the risk factors of your company, and that what worked for someone else may not necessarily work for you.

Diana Kander, author of the New York Times bestseller All In Startup, outlined a systematic approach to prioritizing business assumptions in her blog post, “How to Diagnose Your Riskiest Assumptions”. According to Kander’s method, each assumption you’ve written down must be ranked according to two criteria:

  • Possibility of assumption being wrong

  • Level of impact if assumption is wrong

Analyze every one of your assumptions and assign each a score of 1 to 5 on the possibility of it being wrong, and assign each a score of 1 to 10 on how detrimental an incorrect guess of this assumption would be to your startup. Then, multiply the two numbers to determine the overall risk level of each of your assumptions. The assumptions with the highest scores will need the most testing and planning.

Click below for an easy to use Google Spreadsheet template: 

 

Test Your Assumptions

After you’ve thoroughly laid out your assumptions and carefully scrutinized the risk factor of each, then you must test your assumptions and validate your ideas. While it may be tempting to adopt the rebellious mindset so often associated with innovative thinkers, it’s best to avoid risking your livelihood if you can and take the time to ensure that your company will succeed.

In fact, not only is substantiating your hypotheses a vital step in improving your startup’s prospects, it can also be an inexpensive process. In the Growth List blog post, “5 Ways To Validate Your Startup Ideas With $100”, Sean Kimsummarizes several ways that entrepreneurs can test their assumptions with little money.

Build a Landing Page

Aaron Patzer, founder of Mint.com, recommends the following approach:

      Validate The Idea ? Create A Prototype ? Build The Right Team ? Raise Funding

With a landing page, you can bring people to your website, collect the emails of potential users, build your audience, and test the demand of your offering and discover what resonates with your audience.

Launch a Crowdfunding Campaign

With the proliferation of crowdfunding platforms in recent years, entrepreneurs can now introduce their products and generate sales for it before they have their first prototype finished. If your crowdfunding goals are met, and hopefully even exceeded, you will then have the money you need to build and launch your product, as well as the confirmation that your product has an audience.

Host a Webinar

While not talked about as much as a viable method, hosting a live webinar about your product or service is another effective way to measure the demand for your offering. Be sure to provide an exclusive offer to your audience at the end of your webinar with a link to a checkout page. With enough sales, you can build and launch your product to a waiting customer base.

If you’re the extraverted type, interviewing potential customers in person and hosting survey panels may be more suitable for your needs. In the eFounders blog post, “How to validate a startup idea?”, Thibaud Elziere emphasizes how interviewing customers brings a quantitative aspect to a usually very qualitative process, and outlines several methods for getting the most out of meeting people in person.

  • Interview at least 20 people who you think represent your target market and ask them about their current needs and how those needs are currently met.

  • Next, ask these people questions the price of their currently solution, its quality, its performance, and its convenience. Each of these qualities may vary depending on the product or service, so be sure to establish the proper context for your questions. Here are examples of context for each of these qualities to help guide you:

    • Price: purchase fee, setup, fee, subscription fee, license fee

    • Quality: relevance of results, infrastructure availability, customer service quality

    • Performance: response time, delivery time, travel speed, quantity of items, number of results

    • Convenience: easy to use, easy to carry on, easy to park, easy to access, easy to order.

Final Thoughts

Risks are what make life worth living. Without taking the occasional risk, we may never get out of our comfort zone, learn new lessons, or experience the thrill of doing something most people never do. However, before you go diving into a potentially dangerous adventure (i.e. launching a tech startup), taking the time to carefully analyze the troubles that you may encounter along the way will help you determine if that risk is worth taking.

"The biggest risk is not taking any risk... In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” - Mark Zuckerberg

*  *  *

Graduates of the Founder Institute are creating some of the world's fastest growing startups, having raised over $950M in funding, and building products people love across over 185 cities worldwide. 

See the most recent news from our Grads at FI.co/news, or learn more about their stories at FI.co/journey



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Title: A. P. J. Abdul Kalam

Publish Date: 2020-06-11 16:52:54

Avul Pakir Jainulabdeen Abdul Kalam 15 October 1931 – 27 July 2015) was an Indian aerospace scientist and politician who served as the 11th President of India from 2002 to 2007. He was born and raised in RameswaramTamil Nadu and studied physics and aerospace engineering. He spent the next four decades as a scientist and science administrator, mainly at the Defence Research and Development Organisation (DRDO) and Indian Space Research Organisation (ISRO) and was intimately involved in India's civilian space programme and military missile development efforts. He thus came to be known as the Missile Man of India for his work on the development of ballistic missile and launch vehicle technology. He also played a pivotal organisational, technical, and political role in India's Pokhran-II nuclear tests in 1998, the first since the original nuclear test by India in 1974.

Kalam was elected as the 11th President of India in 2002 with the support of both the ruling Bharatiya Janata Party and the then-opposition Indian National Congress. Widely referred to as the "People's President", he returned to his civilian life of education, writing and public service after a single term. He was a recipient of several prestigious awards, including the Bharat Ratna, India's highest civilian honour.
While delivering a lecture at the Indian Institute of Management Shillong, Kalam collapsed and died from an apparent cardiac arrest on 27 July 2015, aged 83. Thousands, including national-level dignitaries, attended the funeral ceremony held in his hometown of Rameshwaram, where he was buried with full state honours.


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gst 2020-06-11 16:53:09(32 day ago)
Great

Title: Behavior health management Market glimpse

Publish Date: 2020-06-04 16:05:11

The global behavioral health care software and services market size was valued at USD 2.1 billion in 2019 and is expected to expand at a CAGR of 11.1% over the forecast period. The adoption of management software by healthcare providers is likely to improve the treatment for mental health issues. The adoption of integrated electronic health records (EHRs) can help behavioral health practices in effective practice management and cost saving. Tele-mental health involves coordinating with patients at distant locations via video conferencing.\r\n\r\nThe simplified communication between patients and care providers and overcoming barriers such as information sharing and confidentiality, especially in the substance use cases and mental health information, is facilitated by real-time monitoring system. Around 21.5 million people in U.S. were reported to be suffering from disorders related to substance abuse in 2014. Of those, only 2.5 million people received the necessary treatment. According to the Department of Health and Human Services, the U.S. president\'s budget granted USD 5.5 billion for the Substance Abuse and Mental Health Services Administration (SAMHSA) for the fiscal year 2020. Although more than 74% of medical professionals have installed EHR systems, only 29% have the capability to share data with other payers and care providers. The proportion of primary care providers who completely lack the ability to share data is around 31% due to a lack of awareness regarding the benefits of implementation of behavioral health software.

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gst 2020-06-09 17:55:48(34 day ago)
hi

gst 2020-06-09 16:44:57(34 day ago)
good

Title: Quit Smoking through CBT

Publish Date: 2020-06-04 16:04:03

Cognitive Behavioral Therapy (CBT) for smoking cessation is an evidence-based treatment that is clinically proven by numerous scientific studies, and is the treatment of choice for quitting smoking. Unlike 12 step groups for other addictions, CBT treatment does not support the idea that addiction is a lifelong disease. Instead, addictions are viewed as over-learned behaviors that serve important functions. The goal of Cognitive behavioral treatment is learning new more effective behaviors to take the place of the addiction behaviors. \r\nCognitive behavioral therapy for quitting smoking focuses on changing people’s reactions to their urges to smoke. This occurs through changing thoughts and behaviors. Changing thoughts occurs by examining unhelpful thought patterns that lead to smoking, and then learning more effective patterns. Learning alternate behaviors involves identifying the functions that smoking serves, and replacing the smoking with other behaviors that serve the same function. Additionally, behavioral training in mindfulness and emotion regulations skills can be helpful in coping with particularly strong urges.\r\n\r\nCBT for quitting smoking may include:\r\n\r\nCognitive restructuring\r\n\r\nMindfulness training\r\n\r\nStimulus control\r\n\r\nSelf-monitoring\r\n\r\nFunctional analysis\r\n\r\nImpulse tolerance training\r\n\r\nEmotion regulation training\r\n\r\nClick for more information about What CBT is and How it Works \r\nhttp://cogbtherapy.com/contact-us\r\n\r\nSCHEDULE AN APPOINTMENT : \r\n\r\n

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Title: Hello From Sree..

Publish Date: 2020-06-04 16:03:12

This is my Blog Page.. Hello World..

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Title: Morning

Publish Date: 2020-06-04 11:29:06

Good morning

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Title: Managing behavioral health cri

Publish Date: 2020-06-03 21:25:18

This is the article about how to prevent suicide, substance or drug usage, chain smoking, depression and what is the help and support available during the crisis. What are the available care types and programs to rehabilitate the patients in their addiction period? what are the best practices to be followed during such crisis. Helplines needed.. The National Guidelines for Crisis Care – A Best Practice Toolkit advances national guidelines in crisis care within a toolkit that supports program design, development, implementation and continuous quality improvement efforts. It is intended to help mental health authorities, agency administrators, service providers, state and local leaders think through and develop the structure of crisis systems. The toolkit includes distinct sections for: ? Defining national guidelines in crisis care; ? Implementing care that aligns with national guidelines; and ? Evaluating alignment of systems to national guidelines. Given the ever-expanding inclusion of the term “crisis” by entities describing service offerings that do not truly function as no-wrong-door safety net services, we start by defining what crisis services are and what they are not. Crisis services are for anyone, anywhere and anytime. Crisis services include (1) crisis lines accepting all calls and dispatching support based on the assessed need of the caller, (2) mobile crisis teams dispatched to wherever the need is in the community (not hospital emergency departments) and (3) crisis receiving and stabilization facilities that serve everyone that comes through their doors from all referral sources. These services are for anyone, anywhere and anytime. With non-existent or inadequate crisis care, costs escalate due to an overdependence on restrictive, longer-term hospital stays, hospital readmissions, overuse of law enforcement and human tragedies that result from a lack of access to care. Extremely valuable psychiatric inpatient assets are over-burdened with referrals that might be best-supported with less intrusive, less expensive services and supports. In too many communities, the “crisis system” has been unofficially handed over to law enforcement; sometimes with devastating outcomes. The current approach to crisis care is patchwork and delivers minimal treatment for some people while others, often those who have not been engaged in care, fall through the cracks; resulting in multiple hospital readmissions, life in the criminal justice system, homelessness, early death and even suicide. A comprehensive and integrated crisis network is the first line of defense in preventing tragedies of public and patient safety, civil rights, extraordinary and unacceptable loss of lives, and the waste of resources. There is a better way. Effective crisis care that saves lives and dollars requires a systemic approach. This toolkit will delineate how to estimate the crisis system resource needs of a community, the number of individuals who can be served within the system, the cost of crisis services, the workforce demands of implementing crisis care and the community-changing impact that can be seen when services are delivered in a manner that aligns with this Best Practice Toolkit. Readers will also learn how this approach harnesses data and technology, draws on the expertise of those with lived experience, and incorporates evidence-based suicide prevention practices.

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Title: THE GREAT SAINT TECHNOLOGIES

Publish Date: 2020-06-03 16:01:26

System, Security, infrastructure, Networking, DR, maintenance solutions & Business continuity solutions for enterprise and personal customers.

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gst 2020-06-03 16:02:20(40 day ago)
Nice

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Title: ENTRYPLUS

Publish Date: 2020-06-03 15:59:55

Creative web applications made easy with us. We expertise at Health management, System management solutions and business consulting for digital transformation and data democratization.

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gst 2020-06-03 18:36:49(40 day ago)
looks nice

entry 2020-06-03 16:02:10(40 day ago)
Good