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>O2 > Key issues for a Thriving Business

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Image representing Divya Gugnani as depicted i...
Do You Have A Winning Business?
Amex Open Forum
by Divya Gugnani
For many entrepreneurs, there’s a point between starting and growing where you face the tough question of whether to invest more. With both of my businesses, I asked myself, “Is this a winning business?” From my previous experience in venture capital, I knew there were certain criteria I’d look for in a winning business. See if your business passes these tests.
Do you know your customer?
Think about your business: Are you selling to other businesses or consumers? The sales pitch will be different depending on who your customer is. “It’s important to monitor your audiences’ behavior,” says Michelle Madhok, founder of SheFinds.com. “We know that our readers buy a lot of Spanx and Tory Burch, so we endeavor to bring special deals on those brands to our audience.”
Once you know your customers, you’ll know how to satisfy them properly. At Send the Trend, we often create names and profiles for our customers, like this: “Stacy lives in Long Island. She’s pregnant with her second child and she’s a working mom. She’s shifting her spend from herself to her kids. Stacy’s not buying clothes and shoes, because her body is changing with her pregnancy. She’s buying accessories instead.”
We think about where Stacy shops, what TV shows she watches, what magazines she reads. We think about all of the ways to reach her. Stacy is just one of several customer profiles, and there are thousands of customers like her. Knowing your customer is the start of marketing to her.
What is the market you’re pursuing?
You should be going after a large market that’s growing. This may seem like common sense, but I’ve seen too many businesses fumble here. Avoid small markets or businesses that are too niche.
“Ideally, you want a massive potential market that can be broken down into bite-size segments,” said Jordy Leiser, co-founder and CEO of STELLAService, a company that rates the performance of online stores. “For STELLAService, the overall market size includes over one million businesses in nearly every online category. However, in order to successfully launch and attain rapid adoption, it’s important to focus on one segment at a time, which for us was online retail. In the same way Facebook began its quest for global connectedness by initially focusing on college kids at top-tier universities, each high-growth business should nail down an early adoption strategy that positions it to become a market leader in a subgroup first, which then allows it to legitimately go after that larger, multi-billion dollar opportunity.”
Focus on one market, capturing market share and establishing a leadership position. Are you aiming at a large enough market? Think it over. If it turns out you’re not, see if you can tweak your business model to include a more substantial market.
How many revenue streams are you going after?
Chances are, if you have a bunch of revenue streams, you’re not executing your vision properly. If revenue is coming from businesses, consumers, wholesale and retail, you’re probably not focused at all. It’s time to start fresh. Just like you picked one market, pick one revenue stream and execute on it well. Focus on growing your main revenue stream before jumping into others. This is not only simple business savvy, it’s cost-efficient.
As your business grows, you’ll iterate on your model and test different customer groups and markets. “Gilt Groupe initially targeted women who loved designer fashion, and over time the business evolved to include many more categories for both men and women,” says Alexandra Wilkis Wilson, chief merchandising officer of Gilt Groupe. “Today it has become a lifestyle platform for its millions of members.”
Gilt started with one market, women’s fashion, and catered to an urban professional woman. As the company grew and iterated its model, it expanded its offerings. Start simple. Gather traction for your business, and then move into expansion mode.
Do You Have A Winning Business? 

Are you innovating?

The crux of building a long and lasting business is innovation. Focus on being new and being better. If you try to mimic, you’ll always be playing catch-up and never lead the pack. Steve Jobs at Apple has always focused on creativity, design and usability.  His focus on features and functions allows him to create market-disrupting devices.  Don’t try to recreate the wheel (or in this case the iPhone) when it has already been done. Be a leader, not a follower.
So, did you pass the tests? Yes?  That’s great. You have the makings of a winning business.

OPEN Cardmember Divya Gugnani is the CEO of Send the Trend, on online destination for fashion accessories, and is also the CEO of the culinary media brand Behind the Burner. 

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>O2 VISIONS > The Secrets of the first human brain

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Pink-Stain-Brain.jpg(Images: Allen Institute for Brain Science)

 World’s first human brain map unveiled

NEW SCIENTIST

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>O2 VISIONS >> WHY IS THE MOON SHRINKING? (video)

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Dave Scott's space suit on display at the NASM.  

Young Fault Scarps on the Moon

CEPS Contact: Dr. Tom Watters

NASA

Lobate Scarp - Thrust Fault Illustration
Smithsonian Institution Photo
WEB11574-2010

The lobate scarps were formed when the lunar crust was pushed together as the Moon contracted. This causes the near-surface materials to break forming a thrust fault. The thrust fault carries crustal materials up and sometimes over adjacent crustal materials.

Gregory Scarp
Smithsonian Institution Photo
WEB11565-2010

Over recent geologic time, as the lunar interior cooled and contracted the entire Moon shrank by about 100 meters (328 feet). As a result its brittle crust ruptured and thrust faults (compression) formed distinctive landforms known as lobate scarps. In a particularly dramatic example, a thrust fault pushed crustal materials (arrows) up the side of the farside impact crater named Gregory (2.1°N, 128.1°E). By mapping the distribution and determining the size of all lobate scarps, the tectonic and thermal history of the Moon can be reconstructed over the past billion years. Credit: NASA/GSFC/Arizona State University/Smithsonian
The most well known tectonic landforms on the Moon are found in and around the nearside mare basins. Wrinkle ridges, formed by contraction, and rilles or troughs, formed by extension, deform the mare basalt-filled impact basins and the adjacent highlands. The wrinkle ridges and extensional troughs are the result of loading from mare basalts that causes downward flexure of the lunar lithosphere, resulting in contraction in the interior of the basin and extension near the margins.

Tectonic landforms on the Moon not directly associated with the mare basins are lobate scarps. Lobate scarps look like stair-steps in the landscape; they are one-sided and often have lobate fronts. These landforms are the surface express of thrust faults. Thrust faults are a break in the near-surface materials formed when crustal materials are contracted or pushed together. Crustal material is thrust upward along the fault forming a scarp.

Lobate scarps were first found in the highest resolution images and photographs taken by the Lunar Orbiters and the Panoramic Cameras flow on the Apollo 15, 16, and 17 missions. Because these high resolution images and photographs covered only a small area of the surface confined mostly to the lunar equatorial zone, it was not known how widely distributed lobate scarps were on the Moon.

The Lunar Reconnaissance Orbiter, launch in June, 2009, is returning the highest resolution images of the Moon ever obtained from orbit. These images, taken by the Lunar Reconnaissance Orbiter Camera (LROC) Narrow Angle Cameras (NACs), have a resolution of 0.5 to 2 meter per pixel. The new NAC images are being used to search for previously unknown lobate scarps.

Newly discovered lobate scarps are being found in the LROC images. Many of the previously undetected fault scarps are located at high lunar latitudes and some have been found near the lunar poles.1 Lunar scarps found well outside the equatorial zone indicate that they are globally distributed.

Global map of fault scarps
Smithsonian Institution Photo
WEB11575-2010

A plot of the locations of newly detected and previously known lobate scarps shows that the faults are globally distributed. The newly discovered lobate scarps are shown by the white dots and the previously known scarps are shown by black dots. Most of the previously known lobate scarps were found in Apollo Panoramic Camera photographs that covered only part of the lunar equatorial region. The locations of the lobate scarps are plotted on the Lunar Orbiter Laser Altimeter (LOLA) global topographic model of the Moon. Credit: NASA/GSFC/Arizona State University/Smithsonian

The most likely reason for the formation of the lobate scarps is global contraction caused by interior cooling. The loss of heat from the Moon’s interior results in contraction. Although the lobate scarps indicate contraction, the Moon has not contracted by much in the recent past. The total radial contraction or decrease in the Moon’s radius is estimated to be only about 100 meters.

The age of lobate scarps is also being investigated. Examining the crosscutting relations between the fault scarps and small diameter impact craters, their age is estimated to be no more than 1 billion year old. An even younger age for the scarps is suggested by the lack of superimposed, large-diameter impact craters. Also, the scarps are very pristine and undegraded. The young age of the fault scarps indicates that the Moon has contracted very recently.

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>O2 > New Ways to Safeguard your ID

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WASHINGTON - MARCH 26:  U.S. President Barack ...

White House unveils cyber ID proposal

(PhysOrg.com) — The White House unveiled a plan Friday to boost consumer confidence and business online through the creation of a single, secure credential for Internet users.

“By making online transactions more trustworthy and better protecting privacy, we will prevent costly crime, we will give businesses and consumers new confidence, and we will foster growth and untold innovation,” President said in a statement.
“That’s why this initiative is so important for our economy.”
The National Strategy for Trusted Identities in Cyberspace (NSTIC) proposes to create secure and reliable online credentials that would be available to consumers who want to use them.
It would be private-sector driven and participation would be voluntary.
The system would involve using a single credential — unique software on a , a smart card or a token that generates a one-time digital password — and would eliminate the need to remember multiple passwords.
“The consumer can use their single credential to log into any website, with more security than passwords alone provide,” the said.
“Consumers can use their credential to prove their identity when they’re carrying out sensitive transactions, like banking, and can stay anonymous when they are not.”
In making online transactions more secure, the White House said the goal was to give businesses and consumers “more confidence in conducting business online.”
“The Internet has transformed how we communicate and do business, opening up markets, and connecting our society as never before,” Obama said. “But it has also led to new challenges, like online fraud and , that harm consumers and cost billions of dollars each year.”
The proposed “identity ecosystem” would also provide better privacy protections.
“Today, a vast amount of information about consumers is collected as they surf the Internet and conduct transactions,” the White House said. “How organizations handle that information can vary greatly, and more often than not, it is difficult for consumers to understand how their privacy will (or will not) be protected.
“The NSTIC seeks to drive the development of privacy-enhancing policies as well as innovative privacy-enhancing technologies to ensure that the ecosystem provides strong privacy protections for consumers,” it added.

(c) 2011 AFP

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