AI: The New Co-Founder for Small Businesses? My Take
In today’s rapidly evolving business landscape, AI is emerging as a powerful tool for small businesses. A recent New York Times article, “How A.I. Can Help Start Small Businesses“, shed light on how generative AI is empowering entrepreneurs to launch and scale their ventures with unprecedented speed and efficiency. I was particularly intrigued by the stories of individuals like Steven Bright, who leveraged ChatGPT to navigate the complexities of starting his company, Skittenz. But overall, having grown up with both my parents being small business owners, the article’s core message resonated with me – AI has the potential to be a game-changer for small businesses seeking to leverage the power of this technology.
While the potential benefits are undeniable, it’s […]
Understanding AI History Teaches Us to Keep Hype-Cycles in Perspective
As of August 2024, almost two years after AI hit the cultural consciousness, it seems the AI-bubble may be starting to take some hits. Recently, Bloomberg News posted an article highlighting that some tech founders and investors are starting to question/wonder about AI’s profitability, etc. etc.
Well, here is case & point on why it’s so important for business leaders to have some basic understanding of the history of AI (or technology, for that matter).
AI, in particular, has gone through periods of rapid progress followed by an “AI Winter,” which is often caused by a lack of what we could call tech capacity (software, hardware limitations, etc.). We often go through hype cycles, and if the […]
The Data-Driven Blueprint for Successful Online Programs
Launching and sustaining a successful online program takes more than just a great idea. It requires careful planning, a solid understanding of the numbers, and a clear vision for the student experience. Three essential tools – the pro forma, enrollment cascades, and course sequence cascades – offer institutions a multi-faceted lens through which to plan, analyze, and make data-powered decisions when establishing and scaling online programs.
1. The Pro Forma: Your Financial Roadmap
Think of a pro forma as the financial blueprint for your online program. It’s a model that projects your expected multi-year revenue, expenses, and profitability. A well-crafted pro forma helps answer these critical questions:
- Feasibility: Can this program sustain itself financially? When will it break even?
- […]
3 Insights on Why Pursing Innovative Paths Can Fail
Recently, I have been re-reading a classic in business management – The Innovator’s Dilemma by Clayton Christensen. Over 20 years later, this book’s principles continue to be timely words of insight and wisdom.
Rather than let some of these thoughts go, I thought it might be helpful to consolidate a few of my reflections here and share 3 insights on why pursing innovative paths can fail.
1. Innovative paths are often hindered not by failed leadership and management but hindered by highly effective leadership and management. Good management, seeking to serve its existing customers and brand values, is often the reason that top firms fail to exhibit leadership with disruptive innovations. It is a false perception to think that “bad” leadership is the reason for […]
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