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The Five Characteristics of Successful Innovators

There is not much agreement about what makes an idea innovative, and what makes an innovative idea valuable. For example, discussions on whether the internet is a better invention than the wheel are more likely to reveal personal preferences than logical argumentation. Likewise, experts disagree on the type and level of innovation that is most beneficial for organizations. Somestudiessuggest that radical innovation (which does sound sexy) confers sustainable competitive advantages, butothersshow that “mild” innovation – think iPhone 5 rather than the original iPhone – is generally more effective, not least because it reduces market uncertainty. There is also inconclusive evidence on whether we should pay attention to consumers’ views, with somestudiesshowing that a customer focus is detrimental for innovation because it equates to playing catch-up, butothersarguing for it. Even Henry Ford’s famous quote on the subject – “if I had asked people what they wanted, they would have said fast…

How Do You Bring Investors Into Your Business? Very Carefully.

As part of his tax and legal tips video series, Entrepreneur Network partner Mark Kohler today talks about techniques to get investors onboard when starting your business. He say that it's paramount that you understand the terms you're using when you're bringing others into the mix and using their money to get started. 
Watch the video to learn the subtle differences between lenders, investors (silent partners especially) and partners before you approach them with your game plan, and check out Kohler's new book, The Tax and Legal Playbook, at Entrepreneur's online bookstore. 

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