Hieu Trung
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Should I Become an Entrepreneur?
Posted in Entrepreneurship on January 27, 2011
When to become an entrepreneur is a common quandary for many. For whatever reason, this issue has come up a great deal recently (recession-driven workforce dislocation?), so I thought I’d share a few thoughts that might help frame this critical decision.
I have concluded that being an entrepreneur is an irrational state of being. If human beings were purely rational, evaluative, value maximizing individuals (see HBS Prof Michael Jensen’s paper on self-interest and human behavior (link PDF)), they would not start companies. If they sat down and did the expected value calculation by laying out the probability-weighted outcomes of being an entrepreneur as compared to taking a safe job, it would not pencil out. Read the rest of this entry »
SEM/Online Advertising Glossary
Posted in SEO - SEM & Online Advertising on June 30, 2009
Abandonment
When visitors to a web site or callers leave a web site or hang up the phone before completing the call. The abandonment rate is a measure of the efficiency of marketing activities.
Great inspiring quotes from great people
Posted in Life & hobbies on June 5, 2009
“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
- Thomas A Edison
“Yesterday is history, tomorrow is a mystery. And today? Today is a gift. That’s why we call it the present.”
- B. Olatunji
What is business analysis?
Posted in Business Analysis on June 4, 2009
There is no industry standard definition of the term “business analysis” and it can mean different things to different organisations. To some, a business analyst is a person who documents and analyses software requirements, to others the analyst is one who helps the business define and document their business strategy. It could be said that business analysis spans a range of activities that starts with the former and ends with the latter.
How to Write Use Cases – A Tutorial
Posted in Business Analysis on June 2, 2009
What is a Use Case?
A use case is a description of how a system’s behavior in response to a request from a stakeholder known as an actor. The actor could be a person or an external system that interacts with the system being described.
Sharing Ownership of UX (User eXperience)
Posted in Usability Analysis on June 1, 2009
A UX architect, or lead UX designer, is the member of a product team who is primarily responsible for ensuring all aspects of a digital product that users experience directly—including its form, behavior, and content—are learnable, usable, useful, and aesthetically pleasing. Thus, a UX architect has an important role to play from a product’s conception to its launch. But creating truly great products requires an entire product team to place the needs of users foremost when making product decisions—or even better, a user-centered corporate culture. If you find yourself in a less enlightened company or on a product team that just doesn’t get how creating great user experiences contributes to a company’s success, you should take every opportunity to evangelize the value of UX to people in your company—from the executive management team to your peers in other disciplines on product teams. If you need help making the case for UX, have a look at my article on UXmatters, “Why UX Should Matter to Software Companies.”
Tips to Making Money Online for Beginners
Posted in Entrepreneurship on May 23, 2009
The internet has created a whole new world of opportunities for anyone that wants to go out and get them. What I love the most is that anyone with basic computer skills can create their own destiny with the help of the internet and all the great different ways of making money online. To make money online, you’ll obviously need to invest in more than a computer and basic skills, but it certainly isn’t rocket science by any means. Here are some tips to make money by starting your own internet business.
Business Plan Basics – How to Write a Business Plan
Posted in Entrepreneurship on May 23, 2009
You can’t expect to have a successful business of any kind without having a business plan in place. Right now, you’re probably in panic mode, trying to figure out how in the world you’re supposed to come up with a business plan on your own, with no prior experience. And you certainly don’t have hundreds of dollars to pay a professional to help you out. What are you to do? I’ll tell you what you do: you learn the basics of how to write a business plan, and then you create your own to help you stay on track and get lenders and investors on board in no time at all. It’s not difficult to make a business plan if you break it down.
Entrepreneurs – Business Plans Are Not Developed For Your Investors!
Posted in Entrepreneurship on April 28, 2009
Today many entrepreneurs complain that their potential investors do not read their business plans. With an average of over 300 hours of effort required to develop a complete business plan, do they have a point? I say no! The real purpose of a business plan is to properly prepare the entrepreneur, with the appropriate background information to raise money for their start-up and not to educate the investors about their company. This article outlines my reasoning behind this argument.