Attractive Innovations

1. Well-defined customers
2. Easily measurable benefits
3. Short pay-back period
4. High Benefit/Price ratio
5. Sustainable competitive advantages
6. Venture has core competencies
7. Venture has resources

Potential Business Models

1. Design physical products/merchandise
2. Manufacture physical products/merchandise
3. Sell physical products/merchandise
4. Create information/content/data
5. Aggregate or distribute information/content/data
6. Provide personal or business service
7. Provide expert advice/consultation
8. Provide money/financing
9. Provide labor or human resources
10. Transport products/services
11. Provide infrastructure/telecommunications
12. Provide in-person or online marketplace for others to sell goods or services

Questions That Must be Answered in a Business Model

1. Who are the target customers for this business venture?
2. How will this venture create and deliver value for these customers?
3. What, who, where is the primary competition for this venture?
   
4. How is the enterprise different and better than the competition?
5. What are the primary core competencies of this venture?
6. What is the scope of products, processes, and activities of this venture?
7. How is this venture organization structured?
8. How will this venture capture value for profit?
9. How will this venture grow, and over what time period?
   
10. How will this venture attract and retain talent?

Tips for Writing

1. Be ruthless when proofreading ... look for what you can cut.
2. Remember stories have a beginning, a middle, and an end.
3. Use "talking headings" to convey meaning.
4. When in doubt, check for rules of grammar and usage with a handbook.
5. Place the subject and main verb near each other and use strong verb.
6. Avoid the "to be" verb when a stronger verb carriers a more specific meaning.
7. Use the passive voice sparingly (It was decided to change the Company name for the sake of enhancing the effect.) vs. (We changed the company name to make it more powerful.)
8. Make sure the "ing" form is necessary: (We were working on a prototype) vs. (We developed ... ) Note: often a question of verb tense.
9. Make sure words ending in "'ion" are necessary; are they verbs masquerading as nouns? (The decision to acknowledge receipt of the letter was made.) vs. (We acknowledge receipt of the letter.)
10. Make certain the prepositional phrase is helpful ... cut wasted prepositional phrases
11. To tighten: circle the "to be" verbs, the "ing" words, the "ion' words, and prepositions. Then read out loud, and check to see what else you can cut.
12. Put old information first, new information second (OLD >> NEW)
13. Put easy-to-understand information first, complicated material second
14. When building transitions, use repetition of key terms, synonyms for key terms, appropriate pronoun reference, and the appropriate collocation chain
15. Make sure your pronoun usage is clear to the reader
16. Choose the best word, but avoid using thoughtless thesaurus words
17. When quoting, introduce the author, the text, and the concept; then provide the quotation with proper citation format; then provide the reader with your interpretation.
18. Keep your writing simple ... cut to the chase.
19. Avoid cliches and trite phrases.
20. Use strong verbs.
21. Use consistent verb tenses, and find the single most correct word.
22. Always look for what you can throwaway and always make it easier on your audience.

[Thank you, Randy Accetta]

Seven Habits of Highly Effective People

• Habit 1: Be Proactive ... Change starts from within, and highly effective people make the decision to improve their lives through the things that they can influence rather than by simply reacting to external forces.
• Habit 2: Begin with the End in Mind ... Develop a principle-centered personal mission statement. Extend the mission statement into long-term goals based on personal principles.
• Habit 3: Put First Things First ... Spend time doing what fits into your personal mission, observing the proper balance between production and building production capacity. Identify the key roles that you take on in life, and make time for each of them.
• Habit 4: Think Win/Win ... Seek agreements and relationships that are mutually beneficial. In cases where a "win/win" deal cannot be achieved, accept the fact that agreeing to make "no deal" may be the best alternative. In developing an organizational culture, be sure to reward win/win behavior among employees and avoid inadvertantly rewarding win/lose behavior.
• Habit 5: Seek First to Understand, Then to Be Understood ... First seek to understand the other person, and only then try to be understood. Stephen Covey presents this habit as the most important principle of interpersonal relations. Effective listening is not simply echoing what the other person has said through the lens of one's own experience. Rather, it is putting oneself in the perspective of the other person, listening empathically for both feeling and meaning.
• Habit 6: Synergize ... Through trustful communication, find ways to leverage individual differences to create a whole that is greater than the sum of the parts. Through mutual trust and understanding, one often can solve conflicts and find a better solution than would have been obtained through either person's own solution.
• Habit 7: Sharpen the Saw ... Take time out from production to build production capacity through personal renewal of the physical, mental, social/emotional, and spiritual dimensions. Maintain a balance among these dimensions.

[Thank you, Stephen R. Covey and QuickMBA.com]