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innovation DAILY

Here we highlight selected innovation related articles from around the world on a daily basis.  These articles related to innovation and funding for innovative companies, and best practices for innovation based economic development.

failureThe top ten reasons for business failure are due to a lack of knowledge, not a lack of money. In fact, the lack of money is itself a failure of knowledge.

Top 10 reasons why businesses fail

1. Lack of an adequate, viable business plan?.

2. Insufficient sales to sustain business

3. Poor marketing plan: unappealing product, poor customer identification, incorrect pricing and lackluster promotion

4. Inadequate capital, misuse of capital and poor cost control

5. Poor management skills: lack of delegation, leadership and/or control

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There is a big difference between doing and knowing what to do. The difference separates the winners from the losers.

A lot of people and organizations are using social media because everyone is “doing it”. But doing it and knowing what to do with it are two totally different things.

If you do what other people do it becomes one big copy movement. Copying is repeating something somebody or everybody else does and then getting what everybody else gets, really nothing new.

You can repeat what someone else says yet not fully understanding the value of what they said. You can mimic what others do but it doesn’t mean you are mimicking what they know. Knowing something is reflected by how well you do that which you know. Doing something you don’t know is reflected by the poor results of what you do. All this being said do you follow what people do or what people know?

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It’s hard balancing a blog with your small business. Even though you know the importance of having fresh content, sometimes life gets in the way. Things get busy at work, you go away to a conference, you have a new baby in the house, or the unimaginable happens and you actually take a vacation. What happens to your blog when you don’t have time to update it? How do you take a blog vacation without it ruining all the momentum you’ve created?
Here are a few suggestions.

Schedule posts in advance: One way to get around going quiet during busy times is to write post ahead of time and schedule them to go live while you’re away. This allows you to continue to publish new content and not give off to customers or readers that you may be away from your computer or busily working away in your store. And because you’re the one writing the content, you don’t have to worry about any changes in voice or bringing in a guest blogger that may take more liberties than you’re comfortable with. The downside to this method, of course, is that you have to make time to pre-write content. Not always the easiest thing to do. :)

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At long last, the doodling daydreamer is getting some respect.

In the past, daydreaming was often considered a failure of mental discipline, or worse. Freud labeled it infantile and neurotic. Psychology textbooks warned it could lead to psychosis. Neuroscientists complained that the rogue bursts of activity on brain scans kept interfering with their studies of more important mental functions.

But now that researchers have been analyzing those stray thoughts, they’ve found daydreaming to be remarkably common — and often quite useful. A wandering mind can protect you from immediate perils and keep you on course toward long-term goals. Sometimes daydreaming is counterproductive, but sometimes it fosters creativity and helps you solve problems.

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Landon Donovan GoalI recently overheard someone reply, when asked about her holiday weekend, "It was successful. My New Year's resolution is to overeat on every major holiday. I figure I'm going to do it anyway; why not make it a goal I can actually keep?"

I had to laugh. It made me think about the goals we create in our lives and in our businesses.

Many fall into one of two major categories. The first category is goals we set that we have a 95 percent chance of accomplishing--mostly because we have done it before, so the likelihood is high that we'll succeed.

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Most people think of innovation as a “Eureka!” moment – or something that comes from hours upon hours of tinkering. But Josh Makower, CEO of ExploraMed, argues that innovation is a skill that can be taught in this Entrepreneur Thought Leader lecture given at Stanford University. By studying what propels innovation, he says, people can develop their own skills and break new ground.


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killer whales live past menopause like humans doMost mammals don't live long past their reproductive years, failing to serve much evolutionary purpose after they can stop passing on their genes to offspring.

Only three long-lived social mammalian species are known break that mold. Killer whales (Orcinus orca), pilot whales (Globicephala macrorhynchus) and humans (as well as possibly some other great apes) all have females that generally live for decades after they cease being able to bear young. So what might we have in common with these cetaceans?

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CREDIT: THINKSTOCKThe ocean is a dynamic and rapidly evolving environment, a long-appreciated truth which becomes increasingly apparent as we observe it ever more carefully. Some of the transformations that we see are ones we are causing, and some are new to us only because we are looking in greater detail and with more sophisticated tools. This special issue contains a series of Reviews and News pieces that highlight some of the ways in which we see our oceans changing. Lozier (p. 1507) discusses how recent studies have challenged our view of large-scale ocean circulation as a simple conveyor belt, by revealing a more complex and nuanced system that reflects the effects of ocean eddies and surface atmospheric winds on the structure and variability of the ocean's overturning. Next, Doney (p. 1512) reviews how the chemistry of the oceans is changing, mostly due to human fossil fuel combustion, fertilizer use, and industrial activity. Nicholls and Cazenave (p. 1517) present an overview of recent sea-level rise, its impacts on coastal regions, and how adaptation may lessen those impacts. Two pieces examine how climate change is affecting marine biological systems: Schofield et al. (p. 1520) illustrate and discuss the role of ocean-observation techniques in documenting how marine ecosystems in the West Antarctic Peninsula region are evolving, and Hoegh-Guldberg and Bruno (p. 1523) present a more global view of the ways in which marine ecosystems are being affected by rapid anthropogenic variations.

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altIt doesn’t matter if you read it old school style (paperback), on your Kindle or iPad, listen to it, or maybe even watch and read with something like Vook. The funny thing, is of the over 150 innovators, authors and forward-thinkers I’ve interviewed on RISE since 2008, almost every one reads. Is it a coincidence that they are also super successful? The best books seem to do a few things really well:

1. Inspire thinking: A “Huh…..I never saw it that way” moment. Or a new way of looking of things.
2. Cause change: I can trace back certain books that caused a change in how I looked at things or influenced me to edit something in my business or life. I bet you can to.
3. Create hunger: A call to action. Something worth talking about and doing.

Obviously, there are many types of books out there. Personal memoirs with takeaways you can use. How-to books offering a step-by-step guide. Inspirational stories and many more.

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20 Phrases That Kill Ideas and InnovationWhen it comes to innovation and sharing our creative ideas at work, we all know to be wary of negative bosses and co-workers who shoot down every idea. These people can be a deterrent to change and innovation, but if we’re persistent we learn how to go around them to get things done.

The real people to be wary of are the ones who seem like they’re open to new ideas, but always have some reason the idea won’t work or shouldn’t be implemented yet. They are masters of “killer phrases” that masquerade as knowledge or experience, but many times are not justified and simply stand in the way of progress.

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joker debt burning fireIf entrepreneurs could recover all the time and money they waste, our GNP would soar.

I can't prove that scientifically--researching the topic would be, well, a waste of time and money--but I've seen it often enough, in business plans, on income statements (including my own), during bankruptcy proceedings and just looking around.

To win the startup game, you need to be a miser with your money. You need to spend it on things that will make you a success, not on what will simply make you feel or look like one. You need to pander to what your customers need, not to what you need.

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LAS VEGAS, July 2 /PRNewswire/ -- "Give us your fired, your underfunded start-ups, your huddled masses of innovative entrepreneurs yearning for access to capital. The wretched refuse of your economically broken shores. Send us the Twitters, the LinkedIn and Facebook tempest-tossed pioneers fighting to claim their piece of the American dream and let them stake a claim on the Startups Across America map, so we can all walk through the golden door."

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