These days it seems like everyone "drives" around in a different way, whether it's by traditional means, ridesharing, car sharing, or even scootering! These industry disruptors began as startups and quickly changed the way we get around major cities and sometimes even small towns. They're called industry disruptors because of they tend to impact other industries, the way Lyft and Uber changed how taxis operate. Lately, these new modes of transportation have impacted three key industries: public transportation, taxi and limbo services, and of course, the automotive industry.
In the following visual, we break down startups and their impact as an industry disruptor and transportation startup. And while some industries may not survive these innovative periods that change how people view transportation, others turn to investing into it. For example, looking at Toyota, they adapted to the rideshare industry by investing in Uber and Grab, both of which received billions in funding overall. This is one takeaway we can grasp from these startups: if you can't beat 'em, join 'em!
Books are investments. Many times books consume a large part of our time and can take days, weeks, or even months to finish. This time investment should not be taken lightly. How then, can we choose which books to invest our time in?
We can solicit our friends and families for recommendations of good books but sometimes those closest to us do not share all of our interests. This is why we must look to influencers in our industry for the best book recommendations.
It’s interesting how some of the most successful people in the world seem to share a common thread, they all have voracious appetites for books. The best part is, there are books on nearly every subject imaginable that can help you master your chosen craft.
In this piece from CleverTap, world-class entrepreneurs, investors, and marketers share their book recommendations. Read these books to not only become a better entrepreneur and marketer, but a better investor in your time.
Infographic by CleverTap
Risk-taking and owning a business are synonymous as most major business decisions involve some type of risk. However, risk-taking in business can be daunting, especially if you have a group of employees or a partner that relies on you. Consider calculated risk-taking – a method that weighs all possible outcomes before jumping into the unknown. By creating a plan or strategy, you’ll be better equipped if something doesn’t go accordingly. You can anticipate potential drawbacks, minimize negative outcomes, and better succeed. The infographic by Valpak below covers the steps to follow, a helpful formula to calculate risks, and successful company examples like Pinterest, Whole Foods and Charmin.
A cognitive bias is an error in thinking or reasoning that affects our memory, judgement, and ability to make decisions. There are over 188 of them in existence, and all of them can wreak havoc on our finances. When left unchecked, cognitive biases can keep us from spending wisely or saving diligently. They can even damage credit and cause us to make unwise investment decisions. As Benjamin Graham, an investor and economist once said, “The investor’s chief problem — and even his worst enemy — is likely to be himself.”
With so many opportunities to slip up, it’s no wonder that seven in ten Americans have admitted to postponing major financial decisions. Fear of regret can be paralyzing — especially since only 17% of people say they have no financial decisions they regret.
The good news is that some of the most common cognitive biases are also some of the most easily correctable. Once you start recognizing your own biases, you can work to avoid them in the future and maximize your financial health by establishing the right mindset. This infographic from Self Lender shows you how.
The Zebra, hailed as the Kayak of auto insurance, has broken down the most common types of rideshare drivers and broken down easy tips on how to handle riding with them.
It’s no secret that rideshare services like Uber and Lyft are taking the world by storm. Uber has quickly become the largest tech startup, if you can even call it that now, surpassing AirBnB by over $30 billion. Uber’s success, and the success of other rideshare services, are due in large part to younger generations that are foregoing car payments and instead using rideshare apps to commute to work and run daily errands. Those who travel for business or pleasure are also skipping the hassle of renting a car for the ease of hailing an Uber or Lyft to get around the places they visit.
Unless you’ve been living under a rock, you’ve probably used a rideshare service before. So you may know, for all its benefits, using a rideshare service can be a bit of a guessing game. You have to ride in a complete stranger’s car and being forced to make conversation — or worse, forced to sit in silence — for the duration of the ride. Sometimes you get lucky and the person is a great conversationalist, has snacks and lets you pick the music. But more often that not, rideshare drivers make things awkward one way or another.
So, check out this infographic below to see how to deal with the most common types of rideshare drivers. My personal favorites are Family Man Frank and Oversharer Olivia.
One of the greatest concerns for any small company or startup is money. Where do you get the money to start your company, and where do you get money to keep your company going? The three most common sources of startup capital are 1) personal savings, 2) cash flows from the business, and 3) credit cards, as seen below in a great sketch by the Kauffman foundation.
Given these numbers it may make sense to answer the question – how do we legally self-finance our business? The most obvious answer is that we can fund the company when we purchase our ownership percentage in the company. This initial ownership purchase, however, may not yield substantial funds or does not meet your company’s financial needs. Two common legal self-funding methods are a promissory note (loan) and a convertible promissory note (loan + conversion feature). We will only cover a promissory note here but we will briefly touch on a convertible note.
A promissory note is a loan agreement that allows the company and individual (be it a founder or other individual) to record the loan and the terms under which it will be governed (interest rate, payment terms, maturity date, etc.). Below is a step-by-step explanation for how to enter into a promissory note with someone loaning money to the company. We will also discuss some potential options for the individual and company once the money has been loaned. Preliminary Steps
Self Lender developed this infographic with a fascinating look at problems that might be solved by billionaires. Self Lender is a venture-backed startup that helps people build credit and savings.
5 Most Popular Daily Online Activities of Baby Boomers
The stereotypes about baby boomers and technology are pervasive, but are they true? It is true older adults have adopted technology a little late when compared to the general public, but today this age group is more tech-savvy than ever before.
The infographic you'll see below was crafted by medalerthelp.org team to avoid misconceptions and give a real insight into how seniors 'get along' with technology.
Baby Boomers and Technology
66% of people aged 65+ uses the Internet while 63% of older adults aged between 60 and 65 own a laptop. Therefore, saying that our grandpas and grandmas are all at sea when it comes to using electronic devices or gadgets is nothing but an exaggeration.
One of the main reasons behind improved rates of technology adoption among the elderly is the increased awareness of the usefulness of the Internet, and just like us, they are using the Net for many different activities.
According to the infographic below, the most popular activity of people aged 60+ is checking email. 91% of Internet users among this age group login into their inbox daily. Interestingly, the majority of older adults don't use their laptops or desktop computers but rather check for new mail on their smartphones.
Next on the list of popular Internet activities for seniors is finding information on search engines (70%) while checking weather forecasts comes at the third place (61%). Today, many baby boomers prefer to get news online (51%), which is their fourth most popular online activity. Ranked at fifth place is any banking-related activity. It seems that baby boomers have now finally warmed up to online banking and prefer it more than visiting banks.
Why Do Some Seniors Stay Digitally Disconnected?
While there’s irrefutable proof that the increasing number of elderly is embracing technology, many among them still choose to stay digitally disconnected. One of the reasons for this is physical disability or poor health, which prevents 2 in 5 older adults from using technology. Another reason is a negative attitude toward technology, with 22% of seniors feeling they are not missing out by not using the Internet.
That said, it is hearting to learn that the number of baby boomers using the Internet is steadily increasing. To learn more about the elderly and the World Wide Web, check out the infographic below.
If you had the ability to discern the needs of your customers, you would be much more successful businessman. Of course, targeting your ad campaigns towards your customers’ needs will increase the probability of conversion manifold.
This is easily achievable through email marketing, as most of the modern email automation tools have excellent segmentation tools.
Previously, you may have sent a broadcast email out to your entire client base. In that email, everyone gets the same message. This method has a few names to identify, with scattergun emailing and spray and pray emailing being on top of my personal list.
Both methods have some success but generally fail as the majority of the recipients feel alienated and indifferent toward the generic content mass mails. There’s a much better method to email your client base. It is called email segmentation and yields much higher open rates, response rates and revenue, among other things.
But how does email segmentation work? In a nutshell, it puts the entrants on your email list into appropriate categories that determine the type of emails they are going to receive in the future.
The good news is there are email marketing tools that are ready-made for segmentation. MailChimp, AWeber, and Drip are just a few names that can help in that regard. When your clients want to opt-in as an email subscriber, these email tools allow them to set the category of emails they prefer to receive.
One client might not be ready to purchase a product or service from you but are still interested to receive information. Other clients will have a much keener interest in what you have to offer and may choose a different and more frequent category.
Other settings are based on how often your client has purchased from you or are only interested in one particular brand or item.
How does email segmentation help keep your client base healthy? It will help you weed out recipients who don’t respond or have a negative reaction toward certain type of content.
However, don’t go all crazy and start categorizing everything. It would make sense to see how successful businesses are doing it and follow their methods. Two case studies show a twenty percent increase in open rates by SHEFinds and a 40% increase in open rates by SwayChic.
Check out even more compelling facts and working tactics in the infographic below and take your email marketing efforts to the next level.