Latest news with #businessdevelopment
Forbes
3 hours ago
- Business
- Forbes
20 Ways Business Leaders Find (And Vet) Their Next Big Development
getty The spark behind a great business initiative can come from anywhere—a customer complaint, an emerging trend or an untapped niche. But inspiration alone isn't enough to move an idea forward. Deciding whether to invest time, money and resources requires asking the right questions about market need. Below, 20 members of Forbes Business Development Council share where they find inspiration for new business ideas—and how they decide whether it's worth turning that spark into action. 1. The 'Common Denominator' Behind Weaknesses Innovative leaders are driven to create more efficient solutions. In grade school, we were taught to find the lowest common denominator in math class. In business, leaders break down and identify root causes, potential gaps and inefficiencies that they deem weaknesses. A true leader will find a common denominator and be inspired to develop strategies to convert those weaknesses into strengths. - Jason Holden , Akkerman 2. The Desire To Solve A 'Big Problem' In The Market My entrepreneurial experience: The inspiration to create new comes from an insatiable urge to solve a big problem. There are five types of big problems (5 Cs): Customer, constraints, convenience-related, commonality-focused and community-centric. The only factor that helps to decide its worthiness to solve is its "order of magnitude impact on the beneficiary" once solved. - Bharath Yadla , Workato 3. Everyday Issues I find inspiration in everyday problems— especially when a customer says, 'I just wish there was an easier way to do this.' That's the spark. One key factor in moving forward? Real interest. If people are excited, willing to use it or even pay for it early on, that's a good sign it's worth building. - Richard Lindhorn , VivoAquatics Inc. 4. Gaps Across Industries We get inspired by spotting gaps in how people make payments in different industries. My go-to test? When businesses face the same payment headache repeatedly and we can fix it once and scale it everywhere. If our solution helps multiple partners, reaches lots of customers and doesn't require reinventing the wheel every time, that's when I know we've got something worth pursuing. - Mohamed Madkour , Mastercard 5. Combined Concepts From Different Industry Sectors I find my inspiration everywhere. It usually starts with asking "why" and "why not," blending ideas from very different industry sectors and working with concepts together like LEGO blocks. Things eventually click into place when the questions have been addressed and solutions worked out. When the risk of moving ahead is small and the risk of not moving ahead is large, then it's worth the move. - Anoma Baste , Space Matrix Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify? 6. Lessons From Top Performers And Other Teams Pain points in business processes or customer experience can be common sources of innovation, but valuable insights also come from learning from other teams or benchmarking top performers. A data-driven, ROI-focused approach helps leaders make informed decisions. Great leaders constantly assess key drivers—not because something is wrong, but because they believe things can always be improved. - Jani Hirvonen , Google 7. 'Rule-Of-Three' Pain Points Customer pain points and unmet needs are the best inspiration for new developments—hear the same pain point from multiple people across organizations, and the need is real and acute. We call it the "rule of three": If three customers have the same need or ask, then it's real! - Aman Rangrass , 8. Crowdsourced Organizational Feedback Consider crowdsourcing ideas from your organization to collect a diverse array of input. Platforms like Featurebase are useful for figuring out which developments to pursue. Key stakeholders can vote on existing feature requests to determine their order of importance, and keep all your ideas organized in one place. - Raviraj Hegde , Donorbox 9. Real Customer Problems Inspiration often starts with a real customer problem—something costing time, money or momentum. The key filter: Does solving it align with our strengths and strategic direction? If it does, scope the opportunity, build fast and validate early. Speed matters, but alignment wins. - Michael Fritsch , SavvyCOO 10. Areas Of Friction I find inspiration by observing friction, especially recurring pain points that slow down execution. I would question myself, "What if this didn't have to be hard?" A key filter is value delta, for example, will this create at least a 4x improvement over the current approach? If it doesn't shift outcomes meaningfully, it's not worth building. - Vipin Thomas , SparrowGenie 11. Solutions That Make Life Easier All developments—whether business or product—are driven by two core factors: will this make our customers' lives easier, and will it push us to keep our solutions on the cutting edge? Only by understanding customers' needs and pain points can we provide the most timely and reliable solutions. Anything less is merely spinning our wheels, no matter how technically impressive the offering. - Susana Cabrera , Parsec Automation 12. High-Potential, Untapped Markets I'm inspired by what others ignore—those quiet gaps where attention is scarce but potential is high, like a niche market with growing demand but little innovation. A key sign to move forward is whether your team can lead the conversation and steer the momentum. If you can, it's likely a risk worth taking. - Bryce Welker , The CPA Exam Guy 13. Insights From Genuine Listening I listen, listen, listen to people's stories and real-world challenges, which inspire new efforts. For example, we started with one shoe reuse brand but saw needs and opportunities in other areas, such as supporting sustainability by listening. So, we created several other brands that target their specific audiences' needs and pain points, which motivated our team to move forward with expansions. - Wayne Elsey , The Funds2Orgs Group 14. Cross-Industry Innovations I find inspiration in customer pain points and cross-industry innovation. The key decision factor is genuine user enthusiasm in early testing—if users can't articulate how the solution improves their lives without prompting, reconsider moving forward. - Vivek Vishal , Honeywell 15. Creation Under Constraints I often find inspiration in constraints, not ideas. Scarcity, regulation and friction reveal inefficiencies others tolerate. One key factor? If solving it strengthens our position and forces competitors to respond, it's worth pursuing. Real development shifts leverage, not just resources. - Alexander Masters, MBA, BIDA , Siemens 16. The Intersection Of Emerging Trends And Unmet Needs I find inspiration at the intersection of unmet needs and emerging trends—where market gaps meet what's next. One key factor in deciding to move forward: strategic fit. If the idea aligns with long-term goals and solves a real problem, it's worth exploring. - Rahul Saluja , Cognizant 17. The Need To Stay Relevant Amidst Change Competitors (both direct and indirect), landscape and customers all change with time, so for you to stay relevant with these changes, innovation in all aspects of your organization is a must. This in itself is a grander reason for you and your teams to find inspiration. If the vision is not to be the best in class for your customers, then there are bigger problems for you to fix than just inspiration. - Mustansir Paliwala , Zomara Group 18. Current Gaps Aligned With Long-Term Vision I draw inspiration from identifying strategic gaps that align with our long-term vision, where market dynamics are evolving, customer needs are unmet or internal capabilities can be leveraged to create new value. I assess each initiative based on its strategic alignment, like whether it differentiates in the market and supports sustainable growth. If yes, it warrants serious consideration. - Salice Thomas , Wipro Limited 19. Ideas From Other Sectors Finding inspiration is always difficult, especially because, in my opinion, the most common mistake is falling in love with your own ideas, idealizing them. In my sector (industrial), it is complex. However, trade fairs are an excellent point of reference: the sectors not close to ours offer applicable ideas and improvements. In many cases, innovation comes from the contamination. - Davide Sartini , SpA 20. What Emerges When You Step Back Inspiration often comes when we stop forcing ideas. Step back, question assumptions and drop ego. The best ideas emerge when you stay open-minded, critical and self-aware. Here's a good litmus test: If the idea still stands after tough, honest evaluation—without forcing a narrative—it may be worth building on. True innovation needs space to breathe. - Anna Jankowska , RTB House
Forbes
9 hours ago
- Business
- Forbes
5 Ways ChatGPT Is Redefining LinkedIn Networking For Entrepreneurs
Entrepreneur building LinkedIn network According to the Global Entrepreneurship Monitor 2023-2024 report, 24% of young entrepreneurs are actively engaged in starting or running businesses, yet many struggle with time management while balancing growth activities on LinkedIn and other platforms. Teen and young adult entrepreneurs face additional challenges, including building credibility while competing against more established professionals on LinkedIn. LinkedIn has become essential for business development, but traditional LinkedIn networking approaches consume hours without guaranteed returns. This time crunch hits younger entrepreneurs particularly hard as they juggle business building with school, family commitments, and limited resources. Young entrepreneurs face a choice: spend significant time crafting individual LinkedIn messages and content or risk appearing generic in a crowded LinkedIn marketplace. ChatGPT offers entrepreneurs of all ages a middle path—maintaining personalization while scaling LinkedIn networking efforts efficiently. For younger business owners, AI tools level the playing field by helping them create professional content and outreach that competes with seasoned entrepreneurs. Here's how smart business owners are using AI to build meaningful professional relationships on LinkedIn. Writing individual connection requests and follow-up messages can consume several hours each week. Most entrepreneurs either send generic messages or spend too much time personalizing each one. ChatGPT helps you find the middle ground. Use this prompt: "I want to connect with [specific role/industry] professionals on LinkedIn. Help me create a connection message template that I can customize with specific details about each person. The message should be professional, specific, and under 200 characters." For LinkedIn follow-up messages, try: "I recently connected with someone on LinkedIn who [specific background detail] The key is using ChatGPT for structure while adding personal details about each LinkedIn contact. A message that mentions their recent article or company milestone performs far better than AI-generated content alone. Most entrepreneur profiles read like resumes rather than marketing tools. They list past jobs instead of showcasing current value and future potential. ChatGPT can help reframe your LinkedIn profile around client needs. Use this prompt: "I'm an entrepreneur in [industry] who helps [target client] achieve [specific outcome]. Help me write a LinkedIn headline and summary that attracts potential clients, partners, and investors. Focus on results I deliver rather than credentials I have." Your LinkedIn headline should answer this question: "What problem do you solve for whom?" Instead of "Startup Founder," try "Helping Restaurants Increase Revenue 30% Through Data-Driven Marketing | SaaS Entrepreneur | Foodtech Innovator." Young entrepreneurs can add credibility by highlighting specific results rather than relying solely on years of experience. For your LinkedIn summary, lead with client outcomes, include a brief origin story, and end with a clear call to action. It's all about developing and sharing your personal brand. Teen entrepreneurs should focus on passion, problem-solving abilities, and early wins rather than traditional credentials. People connect with entrepreneurs who can help them, regardless of age. Consistent posting on LinkedIn helps build visibility, but many entrepreneurs struggle with creating engaging content. They either share random thoughts or spend hours crafting posts that few people engage with. ChatGPT can generate LinkedIn content ideas aligned with your business goals. Try this prompt: "I'm building a [type of business] and want to attract [specific audience] on LinkedIn. Generate 10 post ideas that position me as an expert while providing value to potential clients. Include questions that encourage engagement." The most effective LinkedIn content for entrepreneurs combines industry insights with personal experiences. Share lessons from specific client projects, predictions based on your expertise, or frameworks you've developed. People follow entrepreneurs who offer practical wisdom, not generic business advice. Post consistently on LinkedIn rather than perfectly. Two valuable posts a week are better than one brilliant post quarterly. Random networking wastes time. Successful entrepreneurs connect strategically on LinkedIn with potential clients, partners, investors, and mentors who align with their business goals. ChatGPT can help you identify ideal LinkedIn connections. Use this prompt: "I'm building [business description] and need to connect with [specific types of people] on LinkedIn. What LinkedIn search terms should I use? What mutual interests or challenges might we share? How should I position myself when reaching out?" Create LinkedIn connection campaigns around specific business objectives. If you're raising funding, target angel investors in your particular industry or sector. If you need strategic partnerships, focus on complementary service providers. Quality beats quantity in LinkedIn entrepreneurial networking. Research LinkedIn prospects before connecting. Check their recent posts, company news, or mutual connections. A reference to their latest achievement or shared connection dramatically increases response rates. Networking isn't about collecting LinkedIn connections—it's about building relationships that create mutual value. Many entrepreneurs connect and then disappear, missing opportunities to develop partnerships. ChatGPT can help you maintain consistent LinkedIn engagement. Try this prompt: "I want to stay connected with my LinkedIn network without being pushy. Help me create a system for engaging with others' content, sharing valuable resources, and maintaining relationships over time." Engage with others' LinkedIn content before promoting your own. Comment thoughtfully on posts from potential clients or partners. Share relevant articles with specific LinkedIn connections who might find them helpful. Make introductions between contacts who could benefit from knowing each other. Use ChatGPT to draft LinkedIn comments that add value rather than just praise. Instead of "Great post!" try something like "This reminds me of a similar challenge we faced at [company]. We found that [specific insight] was particularly helpful. Thanks for sharing your perspective." ChatGPT makes LinkedIn networking more efficient, but successful entrepreneurs still invest time in building genuine relationships on LinkedIn. Use AI to handle structure, templates, and initial drafts, then add personal touches that reflect authentic interest in others. The entrepreneurs who succeed on LinkedIn provide value before asking for anything—regardless of their age or experience level. They share insights, make connections, and solve problems for others. ChatGPT makes these LinkedIn activities more scalable, giving younger entrepreneurs the tools to compete professionally. For teen and young entrepreneurs, start with one area—perhaps optimizing your LinkedIn profile or planning your next month of LinkedIn content. As you see results, expand your use of AI tools to other LinkedIn networking activities. The key advantage younger entrepreneurs have is adaptability and a willingness to embrace new tools, such as AI.
Yahoo
10 hours ago
- Business
- Yahoo
Orion Group announces $100M in new Marine and Concrete awards
Orion Group (ORN) announced new Marine and Concrete awards for a total value of approximately $100M. 'We are proud to be recognized with new contract awards that reflect the trust our partners place in us. These achievements are a testament to the strength of our team, our commitment to the highest safety standards, and the progress we are making in expanding our business development pipeline. Our strong delivery and consistent execution have enabled us to successfully expand our client relationships and Port Tampa Bay is a good example. For many years, we have been their longstanding partner for maintenance dredging and new construction projects. We are pleased to play a role in their expansion initiatives aimed at enhancing the port's capacity and efficiency. In our Concrete business, we continue to see strong demand, supported by the next phase of a large data center project and several projects in our home state. With our strong reputation and robust pipeline, we are well positioned for continued growth,' said Travis Boone, Chief Executive Officer of Orion Group. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on ORN: Disclaimer & DisclosureReport an Issue Orion Group management to meet virtually with B. Riley Orion Group management to meet virtually with Craig-Hallum U.S.-China talks continue, IBM making large-scale quantum computer: Morning Buzz Orion Group price target raised to $11.50 from $9 at B. Riley Orion Group Holdings Appoints New CFO Alison Vasquez Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
2 days ago
- Business
- Associated Press
The Swarovski family owners reach a unified agreement to create an integrated Crystal Group
The shareholders of Swarovski decide unanimously to create an integrated Crystal Group by incorporating its Wattens-based business, as basis for the next phase of successful business development. All legal disputes have been settled. With this agreement, the Swarovski, Weis, and Frey families lay the foundation to develop independently their companies, which include Tyrolit and Swarovski Optik in addition to the Crystal Business, and to create for each new unique opportunities for dynamic growth. The Crystal Business development over the past four years confirms the turnaround progress. The creation of an integrated Crystal Group will enable an accelerated profitable growth forward, including the modernization of the Wattens site and its further development as Swarovski's global innovation hub. Founded 130 years ago by Daniel Swarovski (1862-1956), Swarovski Crystal is one of Europe's largest family-owned luxury companies. The Swarovski Group is now owned by family shareholders of the fourth, fifth, and sixth generations.
Zawya
3 days ago
- Business
- Zawya
Oman: Dialogue highlights SMEs role in boosting the economy
MUSCAT: In a move to strengthen collaboration and integration with key stakeholders, the Authority for Small and Medium Enterprises Development (ASMED) held its 15th dialogue session focused on enhancing opportunities for SMEs in the retail, construction and manufacturing sectors. The session, attended by Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, brought together SMEs owners and stakeholders from across these sectors. It aligns with ASMED's ongoing efforts to improve the business environment and make it more conducive and attractive to SMEs. The discussion aimed to amplify SMEs contributions by encouraging innovation, improving operational efficiency, fostering public-private partnerships and promoting awareness about SMEs as a vital pillar of the national economy. The minister noted, 'Omani companies should not only focus on the local market. We encourage expansion beyond Oman. The ministry supports entrepreneurs through structured, evidence-based decision-making. Moreover, the Ministry of Labour's mandate to employ Omanis excludes those holding entrepreneurship cards.' Key topics addressed included policies, legislation, licensing and support mechanisms that help SMEs develop creative solutions and form strategic partnerships. The session also opened the floor for questions, enabling business owners to share challenges and suggest viable solutions. Oman is working towards a robust industrial future in line with national aspirations. In the past five years, significant milestones have been achieved in the industrial sector. The government is now focused on enhancing the competitiveness of national products, both locally and internationally. Emphasising the importance of local content, the dialogue reinforced its role in developing economic infrastructure and improving the business ecosystem. This drives productivity, boosts sector efficiency and fosters innovation, contributing to long-term economic and financial stability while promoting balanced and sustainable growth. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
