I have been asked several times to recommend books for start-ups that will help them grow and manage their new enterprises. While there are a few good ones out there (e-mail me for the list), I believe that the Internet can provide start-ups with the ability to create their own books, customized to their particular needs.
If used properly, the Internet can be used as a virtual university for start-ups. The key is the curriculum - knowing where to look for the proper content. This is where Enable comes in. For the next few weeks, we will be providing you with sites that pride themselves on having didactic business content. Enable will sift through the content for you and provide highlights of only that content which is directly related to growing and managing a high-tech start-up. You will then be able to pick and choose the specific content you need for your particular start-up. Sort of like choosing the classes at a university.
Knowledge@Wharton
Knowledge@Wharton is an online resource that offers the latest business insights, information and research from a variety of sources. These include analysis of current business trends, interviews with industry leaders and Wharton faculty, articles based on the most recent business research, book reviews, conference and seminar reports, links to other web sites and so on. The web site presents information in layers so users can pursue their interests to whatever depth they wish. An in-depth searchable database of related articles and research abstracts allows access to information through simple mouse clicks.
Start-up 101
Enable has gone through the entire site very carefully and has come up with the following content specifically related to growing and managing a start-up company.
On the front page of the latest edition of Knowledge@Wharton, you will find -- Creating Internet Strategies for Competitive Advantage. This is an excellent piece for start-ups because it deals with the crucial issue of business models and stresses that companies must approach entrepreneurial opportunities on the Internet seriously-and with a view to turning profits. The section also contains a conceptual framework to analyze Internet strategies, and looks at business models and examine their components. The authors also point out what makes some business models more effective than others.
In the Leadership and Change section you'll find an article entitled, What Does it Take to Lead an E-Commerce Venture? This is very important for Internet Start-ups because it covers the topic of leadership, something every founder of a start-up must deal with in growing his/her company. Issues dealt with include:
- How to be highly confident and self-assertive while also being open and flexible enough to be team-builders
- What skills do leaders of e-commerce ventures need?
- What kind of culture should leaders build for their organizations?
In the marketing section, you will find an article entitled Staying Close, but Not Too Close, to the Customer. This is an interview with Wharton Professor George Day who coined the term "market driven strategy" nearly a decade ago. In the interview, Professor Day explains how market driven companies neither slavishly follow customers nor ignore them. He also explores the capabilities of successful market driven firms that allow them to attract and keep valuable customers.
Also in the marketing section is an article entitled Understanding Today's Global Marketplace. This is important for any start-up because you must have a global attitude toward your market from day one. This article is based on Mastering Marketing, a new book authored by more than 50 leading marketing experts from the Wharton School, the Kellogg School of Management, the London Business School and INSEAD. It looks at some of the forces changing the fundamentals of marketing, the new strategies needed to deal with these changes, and the ways to win and retain customers in today's global economy.
In the strategic management section you will find an article called What's Your Best Offer? This article deals with how to negotiate - something start-ups need to do in a wide variety of circumstances every day. This article offers insights into the negotiation process drawn from academic research as well as practical examples.
The above should provide you with a very good start in your quest for knowledge. Next week we will finish going through the Knowledge@wharton site and move on to the next site in our virtual university for start-ups.
Published by Israel's Business Arena on September 19, 2000.