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Things Every Tech Startup Needs to Know about Business Models

By Bruce M Firestone, B Eng (Civil), M Eng-Sci, PhD Abstract The Business Model is supplanting the Business Plan in many organizations. It not only describes the complete business ecosystem, it is a mechanism to discover profitable new relationships amongst stakeholder groups. The Business Model is more resilient than a plan and harder for competitors [...]

Looking Back to Look Forward

To find out if your startup is really going to be of any real use, take a few moments to perform an Einsteinian thought experiment. Ask: If my product or service had been around ever since Jan 27, 1756 (Mozart’s DOB), what would it be worth today? Imagine YouTube, for a moment, having been around [...]

CV Writing (Part 2)

Writing a CV is not as easy as you might think. As the saying goes, the shorter the resumé, the more important the person. It’s all part of building your personal brand which is incredibly important to entrepreneurs, intrapreneurs and artpreneurs. Marketing (i.e., writing/creating your CV) creates a personal brand (for you) which creates trust [...]

IOE, Institute of Entrepreneurs

IOE5100, Advanced Business Models Exploriem.org’s Institute of Entrepreneurs presents IOE5100, Advanced Business Models for Entrepreneurs, Intrapreneurs and Artpreneurs, an MBA level course (For available dates and times as well as more information, please contact: Ms. Theresia Scholtes, tscholtes @ exploriem.org or @tclsholtes) Come study with Prof Bruce, a leader in designing and building business models [...]

Internet Pioneer Morphs Business Model to Include Kiosk Stores

(Portions of this article originally appeared in Ottawa Business Journal, March 5, 2012: http://www.obj.ca/Opinion/Bruce-Firestone-5444.) Rob Hall was into the Internet before there was one. In high school in the 1980s, he dabbled in web technology and was ready for the Internet revolution circa the early 1990s. I met him when he was a young man [...]

Can You Bootstrap a Chain of Specialized, Cash-Only Restaurants?

I recently had a chance to ask one of the founders of Toronto-based vegan ‘fast food’ restaurant The Hogtown Vegan (http://www.facebook.com/TheHogtownVegan), Madeleine Foote, six questions about her startup. There are some terrific entrepreneurial lessons here—like KISS (Keep It Simple), be authentic, have a sense of humour about yourself, deliver a lot of value to customers, [...]

70 Ways to Raise Bootstrap Capital

There are certainly hundreds or even thousands of clever techniques entrepreneurs and intrapreneurs are using to raise cheap/free capital, aka bootstrap capital. No list is ever going to be complete. But here is our summary of what people are doing these days to self-capitalize their new products/services/enterprises. If you would like to add to our [...]

Bootstrapping Your Own ETA Business

(Executive Travel Apartments Are Not Subject to RTA, Residential Tenancy Agreement) (Reducing Capital Requirements for Startups) A former student recently introduced me a new form of Bootstrap Capital, or at least, one I hadn’t considered before. It seems obvious to me now but I think it takes some creativity to apply it to any business [...]

Raising Capital by ‘Issuing’ Script

(Plus Tapping Sponsors/Co-Branders/Strategic Investors and Partners for Free Capital) There’s nothing new about raising money by issuing script. The Reynolds Brothers ran a sawmill (established in 1870 by Orson L. Reynolds) in the Adirondacks that in addition to central logging and operating their mill also ran a company store and developed other sources of income [...]

How Do I Beat The Competition

Professor Carlisle Adams at the University of Ottawa’s Faculty of Engineering challenged me to train his second year class on how they can build world class enterprises in a tough competitive world and then sustain them. In an hour and a half no less. Case studies I use include: Rick Hunter’s Mont Cascade and Pro [...]

Entrepreneurs Handbook II: Foreword

(Here is the Foreword to Entrepreneurs Handbook II, coming out in March 2012. Stay tuned.) Do you want to learn how to create significant value for yourself and your family in an enterprise that you own and control—value that can provide you the freedom and security to realize your lifetime goals? Then read this Handbook [...]

Lost Knowledge

Are we losing the skills of the greatest generation ever? Recently I had the chance to interview Len Anderson, young dynamic founder and CEO of Ottawa-based Renaissance Repair and Supply (http://www.renrns.com). You can hear his interview on the FirestoneClarkReport.org (http://www.blogtalkradio.com/firestoneclarkreport/2012/01/25/len-anderson–ceo-renaissance-repair-supply). Len bootstrapped this business to $10m per year in sales in three years starting with [...]