Tag Archives: innovation

It’s not disruption, it’s punctuated equilibrium


No need to disrupt – just evolve

As a biology student turned venture investor, I view the ecosystem of startups a little differently than most. The “Series A Crunch” is a standard carrying capacity problem, blue ocean markets are little more than keen takes on speciation, and predation, parasitism, and mutualism run rampant.

The greatest founders have a high biological (busiological?) fitness and often have strong offspring. But just like the weaker male gorillas, less brute force and more cunning tactics can yield children as well. For the most part, I think people see these parallels. Yet there is one concept in the startup ecosystem that has this student of Darwin cringing from the implications: disruption.

I take issue with the notion of “disruption,” particularly in the field of education, where real futures of real student minds are on the line. I don’t want the process disrupted, because that means the old system must die by failure and abandonment. In the case of education, that’s an entire generation.

I’d like to propose instead we view evolution in the business world the same way it is seen in the natural world — through a combination of gradualism and punctuated equilibrium. Gradualism (otherwise known as “incremental innovation”) is the process of small change over time, and we see evidence for it in the geologic record. But sometimes there are big jumps, large changes that lead to a new species, or new abilities. This is known as punctuated equilibrium.

Evolution is a combination of small changes over time and large changes when the time is right

Consider the classic example of Darwin’s Finches. They all started the same, and as they were isolated on different islands, each adapted to the specific needs of the niche (“peripatric isolation”). Some got longer beaks to reach in flowers, some thicker to break hard nuts.

The internet is like the galapagos, made up of islands with niches. The mainland had its species — it’s books, pens, and way of life. Now it’s time to reach a new equilibrium, many little equilibriums, according to the world around us. Eventually, people will take boats to see the pretty new birds.

No need to disrupt — just to evolve.

Written by

Educator, hiking leader, improvisational analyst. Works @nsvf. Generally pumped on the world.

Published December 1, 2013

 

How did the idea come up?


True story regarding my new startup idea

 

It Seemed Like a Good Idea at the Time
It Seemed Like a Good Idea at the Time (Photo credit: Wikipedia)

 

Entrepreneurship is drug

 

I quit. I stopped everything I was doing to launch something, to launch my thing. I love to think ‘back in the game baby’. The excitation, the true feelings, the adrenaline are so complex to explain, it’s like being a junkie for years, stopping for a while and one day, falling back in the beloved addiction. The game / drug I’m talking about is one of the best I’ve ever known: entrepreneurship (love could be the other one). And now that I’m launching a new startup I (re)discover some common questions asked by others. One of them pops up frequently: ‘how did you come up with this idea’? Sometimes I wonder wether it’s the right question or the exact thing people want to know because some of them go one step further by asking next ‘how did you know this one was THE idea’. Argh if I want to be honest I’d say ‘question too hard, sorry, next one’ or use the simpler (and more cliche) answer like ‘well it’s like orgasm you’ll know when you’ll experience it’.

 

Because I feel that the more I tell the story the more it can become confused, even in my own mind, I want to put it here. Let’s start with the easiest part of the question ‘how did the idea come up?’.

 

The right mindset

 

The starting point is the summer 2012. Back then I’ve decided with my former partners to stop my (officially speaking) first venture. The key thing at that time was my deep willingness and desire to stay an entrepreneur for my entire life. Trust me it is worth to take it into account. I was so desperate to stop my startup and to work for someone else that my mind instantaneously thought about tons of new business ideas. I uber think now that the mindset is really important, I spent the last year with the kinda mindset which reminds you every single day ‘launch something as soon as possible my friend — you’re wasting your time these days’. If there should be one golden rule, it’d be this one. Cause this specific mindset turns every complaint into an opportunity, every book, every remark, every discussion with people into another opportunity.

 

read more -> https://medium.com/design-startups/24ec0a0b9f24

 

 

 

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Startups, do your homework


Or at least have someone to do that for you.

 

When you think about innovation the first image that comes to mind is a light bulb.

Some guy went outside in the rain with a kite, received an electric discharge, came back inside his house and melted glass, put a filament inside and innovation happened: Light bulb!

Ok! I know that the guy who flew a kite in a storm was one person and 128 years later another guy put a filament inside a vacuum glass bulb.

When you see entrepreneurs trying to innovate, they struggle to do their homework: Everything that exists… doesn’t matter. Every experience before that… doesn’t matter.

And they use Steve Jobs as an example: “He didn’t listen to anyone. He didn’t believe on market research”. But if you pay close attention, you will see that Steve Jobs did exactly the opposite.

Apple’s secret was to be the first to feel the gaps, what features were missing on products that already exist in the market.

Image representing Steve Jobs as depicted in C...
Image via CrunchBase

It is hard to carry all the music that you love: iPod.
Why do I have to carry my iPod and a phone?: iPhone.
It is hard to read in a small screen: iPad.
It is hard to hold a large device: iPad mini.
It is still heavy: iPad air.

Steve Jobs didn’t think: “you know what? Forget about this Graham Bell guy. I will reinvent what already exists”.

Source

Read more: https://medium.com/what-i-learned-building/3e08e07ff3f6

 

 

 

FEAR OF FAILURE IS NOT AN OPTION


Ed Harris as Gene Kranz 1by Tom Lemanski

From the SMART Leadership Archives

With the aid of the film, Apollo 13, let’s briefly consider the concept of failure and its role in innovation, problem solving and decision-making.

The Apollo 13 movie documents the heroic efforts of the NASA flight team in successfully returning their crew of three astronauts to earth in their ill-fated, aborted, mission to land on the moon. There’s a compelling scene where the flight engineers discuss the crippled space craft’s desperate power situation that concludes with Flight Director Gene Kranz’s (portrayed by Ed Harris as pictured at left) determined declaration:

“Failure is not an option.”

Continue reading

WHAT MAKES IT GOOD


Techweek Part 4 –

Two Points T

by storied business consultant, Joe Perogi,

as told to John Jonelis –

Been hearin’ complaints ‘n’ controversy about Techweek this year. People gripe so you figure there’s gotta be a good reason, right? Yeah, I hear you. Yer sayin’, where there’s smoke there’s fire. But all them critics completely miss THE HIDDEN ROOM that you and me stumple upon—the hidden room that makes this thing truly amazing. Now the dust is settled, lemme take you on a tour o’ what I seen. Continue reading

How to Brand a %22Useless%22 Degree

How to Brand a “Useless” Degree


How to Brand a %22Useless%22 Degree

Graduation season is upon us — and that means approximately 700,000 U.S. students will be receiving master’s degrees and another 150,000 or so will be getting their doctorates. For some, the path forward is clear: the math experts will be snapped up by hedge funds, the software engineers will have their pick of start-ups, and elite investment banks and consultancies will duke it out for the top MBAs. But a significant number of those students will fling off their mortarboards only to find themselves bereft of job prospects.

Fourteen years ago, that was me. I was graduating with a master’s degree in theological studies; aiming for a career in academia, I had been utterly unconcerned about the practical applicability of my degree. But when I was turned down by every doctoral program I applied to, I suddenly needed a plan to earn a living. That led to a variety of professional adventures, ranging from journalism to documentary film-making to nonprofit management to serving as a presidential campaign spokesperson.

But one of the hardest parts of the journey was the initial step — entering the workforce after two years of rigorous graduate studies and explaining my degree (no, I wasn’t training to become a minister) and, even more critically, its value in the marketplace. If you’ve earned a graduate degree that puts you on a less-than-certain professional trajectory — one that naysayers may even declare “useless” — here are a few strategies that have worked for me.

The truth is, your subject matter knowledge may be irrelevant to anything going on in the business world today. Expert in ancient Roman politics? Biblical exegesis? South American literature? Anyone will want you at their dinner party — but maybe not working at their company. That’s why you need to emphasize your skills, not your content expertise. In college (studying philosophy) and in divinity school, I learned to read abstruse texts with careful comprehension, and fashion tight, logical arguments. That’s an applicable business skill, even if witty badinage about the writings of Thomas Aquinas is not.

Next, you’ll want to position yourself as a potential fount of innovation. How so? Check out the writings of thinkers like Frans Johansson, who argues in The Medici Effect that the best ideas arise from interdisciplinary intersections. You’re never going to win the argument that you’re better qualified than someone who has studied a relevant business discipline — or who has worked in the field for years. So don’t even try. You’re differently qualified, and your unique perspective may be just what the company needs to move to the next level.

You’ll also want to cite your work experience. Many graduate students serve as research assistants, teaching fellows, or writing-center tutors — and you may even have had internships in your field. Those provide valuable “real-world” credentials that will likely be more impressive to potential employers than your degree itself. Can you lead and inspire those in your charge (i.e., a classroom full of twenty skeptical undergrads)? Bridge cultural divides by enabling non-native English speakers to better express themselves? Solve difficult research challenges and unearth crucial facts? Those are abilities that any workplace would covet.

Finally, I’ve found that my theology degree serves another, unexpected purpose: it allows me to make meaningful connections with the people around me. Some could care less, of course. But others have a personal interest in religion or theology; when they find out about my studies, they’re eager to talk and share their own stories. I’ve seen personal sides of colleagues that never would have come out otherwise — their longing to find a calling, or their own faith journey. In a world where business is driven by personal connections, it’s been a powerful vehicle to engage deeply with others. Many people have strong feelings about, or interest in, religion. But even if it’s a shared interest in geography, or urban planning, or British literature, it can be a powerful way to cement a relationship.

In practical terms, my theology degree wasn’t relevant to my subsequent professional life (though I did finally make it into academia, teaching at business schools in addition to my work as a strategy consultant). But it was very relevant to my development as a human being. Grad school may or may not be worth it, depending on your individual goals and circumstances. But if you’ve taken the plunge and are now entering the work world, you owe it to yourself to make the best case possible in explaining its value to others.

(VIA. Harvard Business Review)

chicago-clean-energy-alliance-logo

WHAT’S CLEAN


Impact Engine – Part 6

John Jonelis

~ VERBATIM from a special correspondent ~

PortaPure WaterChildLoop Lonagan here. I’m at a place where my natural greed ‘n’ avarice can do some good fer dis poor worn-out world. This is the Chicago CleanTech Competition—what you might call a race between high-tech global janitorial services. Ten distinguished judges will pick the best o’ da best—companies that’re really doin’ somethin’ to deal with the mess we’re makin’ outa our little corner o’ God’s creation. What we got here is da last ten finalists in our great city and tonight that gets cut down to five.

Every one o’ these companies is a specialist with a different slant on how to get the job Chicago Clean Energy Alliance logodone. You know as well as I do—the only company that succeeds in this world is the one that makes good business sense. But are those the ones that’ll win? Probably not. But we’ll see.

The MC makes sure we know today is Earth Day, which gets a shrug all around. Then he explains how the winners move on to the big international GCCA event and compete with companies from Europe ‘n’ Asia. You heard all about that organization, right? If you didn’t, see the link and the video at da bottom. I got no time to explain.

.GCCA

A Strange Encounter

Lemme give you summa da local color. Things is movin’ along real nice when I hear this harsh voice all the way from the other side o’ the room. He’s yellin’ at an elderly gentleman for nodding off during the meeting. Then he turns his foghorn on me: “Hey Lonagan, are you going to be writing this up? Because I’m going to call you every hour on the hour till you do!”

Sheesh, I ain’t kiddin’. The guy blares that out right in the middle o’ da meeting in fronta all these gentle souls. I’m wonderin’ if any of them clean tech folks ever ran into anybody like Rong Mayhem before.

I know that Rong singled me out ‘cause of a simple misunderstanding. He thinks I’m some kinda reporter. Well, this ain’t no newspaper and nobody sticks me with no deadline. I’m lookin’ for companies to invest in. So’s I keep takin’ notes.

Then he howls. “Lonagan, what the hell are you doing?”

This time I answer. “Just writin’ down what you say, Rong.”

But he’s got a come-back to that: “You know what you are? You’re a legend in your own mind!” Then he repeats it a couple times.

Impact EngineAfter that, things quiet down for a while. And I’m smiling to myself, thinking about the poor MC tryin’ to control the meeting. So I glance over the program and get a jolt. Outa these ten companies, I see two graduates from Northwestern University’s Impact Engine. Lemme tell you about one o’ them:

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Portapure

Portapure George PageGeorge Page is the founder of Portapure and he’s da keynote speaker tonight. He’s also one o’ da judges, so maybe things’ll work out all right after all. He’s a chemical engineer that worked in Chicago water projects so he’s a practical guy. And he’s on a mission. He wants to make clean water available to anybody, anywhere, anytime. To do that, he makes water filtration affordable for the developing world.

Portapure won this event last year and ended up among the top 30 in the world. I first seen him at BNC Venture Capital when he invented a pocket size water purifier. I’ll tell you about that one first:

.

Pocket Pure

Picture this: Say yer goin’ into the jungles of Haiti to do disaster relief. Yer gonna be

Dirty water
Dirty water

there for weeks and the water is mostly muddy streams and swamps. This is da 3rd World. There ain’t no EPA out there to slap people with fines fer makin’ a mess. Still, you gotta get yer butt out there no matter what the conditions. So whaddaya do? Pack in lotsa fresh water, right? Think again. Got any idea how many pounds a few gallons o’ water weighs? It’s impossible to lug all that with you. Airdrop it, maybe? Not a practical solution.

As it turns out, you don’t even need to carry a canteen. Instead, you take along a little pocket-size device called PocketPure. It weighs next to nothin’. Any time you get thirsty, you stop at a convenient swamp and make yerself some clean drinking water—one cup at a time. You can stay in the field as long as you want ‘n’ you never run outa water.

Gathering water in a swamp

Up till now, all anybody had was water purification tablets. Those take half an hour to work and you still gotta filter out the dirt somehow. But technology moves forward and you might as well take advantage of it. As you might’ve guessed, Portapure is sellin’ these things to NGOs by the boxful.

Drinking water is in short supply across the world. Lotsa people in all kindsa places die of E. coli and such. Kids even. That brings me to Portapure’s next product:

.

Pure Lives

Purtapure Purelives
Purtapure Purelives

This one’s on a bigger scale. It’s a three-phase filter with a 5-gallon capacity—just right for yer typical grass hut. Hey—people in the developing world want clean water for their families, too.

This thing filters both bacteria and viruses outa real filthy water. I’m talking real nasty critters like cholera, typhoid, amoebic dysentery, E. coli, coliform bacteria, cryptosporidium, streptococcus, salmonella, giardia, and of course, yer ordinary dirt ‘n’ sediment—it’s enough t’ make yer flesh crawl. This device filters out 99.99% o’ that muck—the definition of clean water according to the World Health Organization. And the filter lasts for maybe 10,000 gallons! This thing was tested in an NSF certified lab and reduced the E. coli count from 5490 to less than 1.

Muddy waters
Muddy waters

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Da Business

This keeps getting better. He sells these things to NGOs, but there’s another angle. Clean water’s at a real premium. It’s like liquid gold in some places. And folks livin’ there wanna make a living just like anybody else. That gives Portapure a natural distribution network and a sustainable solution that pays for itself. At the same time, they’re putting people to work and boosting the economy in these far-flung places.

.PortaPure WaterChild

Da Awards

This company’s got its share of ‘em:

  • Impact Engine graduate
  • GCCA Global Top 30 company
  • Chicago Innovation Awards 2011 Up & Comer
  • Office of the Treasurer Small 2012 Business Plan finalist
  • Tech Cocktail 2011 Finalist

Here’s a good video on Portapure:


I wanna tell you ‘bout the other companies and who won. But I ain’t got room to do it justice here, so I’ll be back with more.

.
LOOK FOR PART 7 – COMING SOON
Go back to Part 1

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Meanwhile, here’s a video that explains the whole international competition:

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Da Contacts

Portapurewww.portapure.com

Contact – Info@PortAPure.com – 773 251 5779

1507 E 53rd. St, Suite 218PortaPure logo

Chicago, IL. 60615

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Portapure on 5 NBC Chicago

PortAPure’s George Page is Saving the World

http://www.nbcchicago.com/blogs/inc-well/Portapures-George-Page-is-Saving-the-World-132243943.html

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Portapure on Crain’s Chicago Business

http://www.chicagobusiness.com/article/20120823/BLOGS06/120829905/seeing-promise-in-water-purification

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Impact EngineImpact Engine

www.theimpactengine.com

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Chicago Clean Energy Alliance

www.theccea.org

.Chicago Clean Energy Alliance logo

GCCA—Global Cleantech Cluster Association

Their ten 2011 winners raised $462 Million.GCCA

www.globalcleantech.org/

Images and video courtesy Portapure, CCEA, GCCA, Impact Engine, and AP.

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2013 John Jonelis – All Rights Reserved

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An employee cleans an advertisement plate at an Apple dealership on eve of iPhone 5's release, in Wuhan

Apple’s dimming luster roils suppliers, investors


(Reuters) – Apple Inc marketing chief Phil Schiller let slip during last August’s courtroom battle with Samsung that when setting forecasts for new iPhones, the inside joke was that people should assume sales would equal all previous versions combined.

That quip, uttered in front of Samsung Electronics Co Ltd’s trial lawyers and the media, no longer rings true as Apple appears to be losing a once vice-like grip on its supply chain and Wall Street.

An employee cleans an advertisement plate at an Apple dealership on eve of iPhone 5's release, in Wuhan

Suppliers and investors are struggling to gauge demand for the iconic smartphone as Samsung and up-and-coming rivals grab market share. Indications of reduced shipments now send shares in Apple and its component-makers into a tailspin. And criticism that innovation has stalled after the death of its legendary co-founder Steve Jobs 18 months ago is hurting sentiment in a stock that closed the week below $400 for the first time since December 2011.

Sources at several Asian suppliers, which for years basked in the glow of Apple’s success and enjoyed stock gains even on rumors they might be among the select group of companies to sell components to Apple, told Reuters this week about ever-moving deadlines and said they were trying to reduce their reliance on the company.

An Apple supply chain source in Japan said those in the industry often jokingly refer to the company as “Poison Apple” because of its hard-to-meet high standards and low price expectations.

“‘Apple can do no wrong’ can only work until Apple does wrong,” said Roger Kay, president of researcher and consultancy Endpoint Technologies Associates. “It’s like the rubber band effect. The more you stretch it, the more snap you get coming back.”

Apple reports quarterly results on Tuesday and declined to comment for this story. It has consistently said it focuses on making the best products – its iPhones remain the industry gold standard – and avoids discussing product strategy.

CEO Tim Cook stressed on the last quarterly earnings conference call that it’s difficult to paint a complete picture of its production process from “a few data points”.

Supplier sources in Japan and Taiwan, home to dozens of Apple suppliers, said they initially expected mass-production of the next iPhone to begin in June.

That date may have begun to slip beyond June, the sources said. The phone, widely referred to as the iPhone 5S, is expected to include new features such as a fingerprint sensor. A supply chain source in Taiwan said Apple was trying to find a coating material that did not interfere with the fingerprint sensor, and this may be causing a delay.

In addition to the 5S, suppliers say Apple is also developing a cheaper model, which can appeal to lower-income buyers in growth markets such as China and India. A supplier source in Japan told Reuters small-scale production of display panels will begin in May, ramping up to mass production in June.

Both phones will use the same 4-inch screen, but the cheaper version will probably not include the new fingerprint technology and sport a cheaper plastic casing, the sources said.

SPECULATE AT WILL

Wild rumors plague every new iPhone launch. But this year much of the blogger and industry speculation has centered on whether demand for the iPhone is waning as an increasing number of consumers choose alternatives, including phones from Samsung – now the world’s biggest seller of cell phones – and those produced by other adopters of Google Inc’s Android software.

Apple, the former darling of Main and Wall Street, rode a seven-fold increase in its stock price in the four years to September 2012. So Apple fans watched with increasing consternation as the shares fell 44 percent since then, shedding some $280 billion in market value along the way.

That fall was mirrored in the smartphone arena. In 2012, Samsung became No.1 in the global market with a 30.3 percent share, knocking off Apple – which had a 19.1 percent share – partly by flooding the market with cheaper devices. For the fourth quarter, Apple’s share of the global smartphone market fell to 21.8 percent from 23 percent a year earlier, according to research firm IDC.

The erosion of Apple’s industry and market supremacy over the past year may embolden carrier partners and suppliers, analysts say. That could mean tougher negotiations over component costs and the subsidies carriers pay to stock iPhones.

To be sure, Apple had a record 2012 in sales and profit. Its iPads lead the tablet market, and its Mac computers continue to outperform in a shrinking PC market. Analysts also say slowing growth is inevitable for a company its size.

But its recent stock-market descent has unnerved many investors struggling to get a read on what Apple’s numbers could look like on Tuesday – just days away from when Samsung begins selling a new Galaxy S4 smartphone with a sharper screen and plethora of software-enhanced features.

Look no further than Cirrus Logic Inc. The chipmaker, with just $700 million in revenue, precipitated an 8 percent drop in Apple’s share price over Wednesday and Thursday when it warned of reduced forecasts from one customer, widely assumed to be Apple. The warning spooked investors because Cirrus Logic relies on Apple for more than 90 percent of its sales.

Shares in Apple suppliers across the globe, including chipmaker Qualcomm, South Korea’s LG Display Co Ltd and Japan’s Toshiba Corp, declined as a result.

On Tuesday, Apple is expected to report a mere 8 percent increase in revenue in its fiscal second quarter, among the weakest showings in years, according to average analysts’ estimates. And net earnings are expected to inch up just 2 percent as the intensifying competition compresses its margins.

Some say Apple’s current market malaise is a re-balancing from the years when the stock was celebrated as a sure-fire bet.

The market became “irrational” about Apple with some analysts floating a $1,000 target price a year ago, said one hedge fund manager focused on the technology sector. Investors should have taken note when Apple missed revenue expectations in each of the past three quarters, said the manager, who declined to be identified.

“The market is not being irrational with Apple today,” he said. “The market was being irrational with Apple last year, when they kept taking the stock price higher.”

(Additional reporting by Mari Saito in Tokyo and Poornima Gupta in San Francisco; Editing by Edwin Chan and Emily Kaiser)

(VIA. Reuters)

11878039-the-secrets-to-hiring-recent-college-graduates

Why Should You Stop Learning After College?


This is a post written by a staff member at http://www.SoshITech.com which is noted by the logo on the far left. SoshITech is dedicated to bringing readers the most intrinsic material on the web, whether it be career tips, Search Engine Optimization advice, Entrepreneurial Studies, social media news or any other topic an educated reader will be able to put to good use. Enjoy!

A trend is starting to emerge in the world of college graduates who would rather compare their financial salary to their peers rather than the lessons they have set out to learn. Soon to be graduates are using their time to learn the proper way to invest, the financial woes of the stock market and bail bonds rather than investing their time in books to focus on building their education and improving their lives.

Graduates forget the importance of investing in themselves and let the short term cash flow blind them from the bigger picture. By focusing on an individual’s soft assets in life, not only will you make more money in the scheme of things but you will also make yourself a much happier person.

Rather than asking yourself “which career plan will make me the most money?” Instead ask yourself “which path will offer you the most experience?” or “which path will you be able to learn the most from? “

By following your passion rather than your financial goals, you will find yourself with more energy to do the things you love to do. As you look toward the future nothing will stop you from achieving your goals.

Obviously, as a college graduate money will be important and in order to find the right job to take care of the things you want to do in life will mean you need to make a few sacrifices. However keep in mind this does not mean you should sacrifice your potential to learn and grow as a human being to chase your short term infatuation with a steady cash flow.

21__follow_your_heart_by_ilovestrawberries2

The Pros & Cons To Follow Your Heart


This is an article written by a staff member at http://www.SoshITech.com which is noted by the logo on the far left. SoshITech is dedicated to bringing readers the most intrinsic material on the web, whether it be career tips, Search Engine Optimization advice, Entrepreneurial Studies, social media news or any other topic an educated reader will be able to put to good use. Enjoy!

The fact of the matter is from an early age you have probably been told to follow your heart or better yet maybe you have heard the old saying “find something you love to do and you will never work another day for the rest of your life.” If you are passionate about something in life, more than likely it will be easier for you to focus on, have more fun and stay open to new ideas.

Planning your future with a passionate career path in mind will keep you ahead of the person who is just out to make a quick buck. The person who is just after the wealth will find himself working for no real cause or purpose in life while your passion will continue to burn inside you and keep you running as times begin to get tough.

However, let us say you do decide to follow your passion and plan out the next twenty years of your life, accordingly, without the thought of ‘failing’ in mind. You might run into a few road blocks along the way, hit a few speed bumps and climb a few mountains before you realize getting from point A to point B is starting to look harder than you once thought.

A few years go by and you see the once steady job market begin to alter as your network of close knit professionals turn against one another. Your friends become your enemies, your competitors team up against you and you find a new group of allies to share your innovative ideas with. Not a pretty picture is it?

A few more years pass and you begin to second guess yourself “is this truly my passion?” and “Why does this idea matter in the scheme of things?”

But you hold it together and overcome the obstacles because if you choose to believe than you will succeed.

It has now been a few more years and you are ecstatic at your ability to persevere through some of the most difficult challenges you have ever encountered in your life. You stop to see all your hard work pay off but realize no one will pay you for what you have to offer – where does this leave you? Disappointed and scared.

You now must make a choice 1.) Follow your heart or 2.) Follow the money – which is most important to you?

The answer should be both as a successful entrepreneur will adapt to the market while also following his heart in the process.