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Xiaomi Inc., headquartered in Beijing, China, may not be the most easily recognizable brand in the US, but it is the world's 3rd largest smartphone OEM aftter Apple and Samsung, and the biggest in China, having recently surpassed Samsung in that market. For the uninitiated, Xiaomi designs, develops and sells not only smartphones, but mobile apps, accessories and smart consumer electronics. It was only last year, that they ventured out of their home base in China and immediately proved to be a big hitin other Asian markets most notably, in India. Last December, Xiaomi became the world’s most valuable technology start-up after it received US$1.1 billion funding from investors, making it a $46 billion company. US-China investment firm GGV Capital has also invested in three different Xiaomi-backed companies since and is actively funding Xiaomi-backed firms as part of its Internet-of-Things bet.

However, Xiaomi has no plans to sit on its laurels and plans to move full steam ahead in its quest to become what their CEO Lei Jun calls an “ecosystem empire”. But even though they’ve grown exponentially over the past few years, they are increasingly facing challenges on their home turf from domestic technology companies like LeTV, that are betting big in the smart devices business.

Earlier this week, when Xiaomi backed robotics company Ninebot who acquired Segway in an acquisition, it was a big step for Xiaomi because it marked the first time one of their group companies had bought a globally recognized brand. Talking about that acquisition and his plans for Xiaomi going forward, the company CEO Mr. Lei Jun, while interacting with reporters, said that Xiaomi wasn’t concerned about challenges coming from their hardware competitors. Its strategy, he said, is to grow the company into an “ecosystem empire” with the focus being on software that can link up anything, anywhere. The company already offers smart products including, but not limited to smart bulbs, smart air purifiers, smart televisions etc. Now with new-found financial muscle, Xiaomi can radically increase its already burgeoning product portfolio simply by investing in new partners in all corners of the Internet-of-Things industry. With a view to achieving those goals, Xiaomi he says, has already invested in more than 20 startups and plans to invest in a hundred more and help them achieve growth, said Mr. Lei Jun.

By Kishalaya KunduIntern Writer

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Rather than the typical client/vendor relationship I'm used to, Growthink has been more like a strategic partner and trusted advisor. Not only did they provide me with a dynamic business plan but they have given me invaluable advice and feedback along the way. They have exceeded my expectations in every way possible during this exciting but uncertain time of starting & ultimately growing my business.  
- Jerry D. Erickson, President/CEO

Via Marc Kneepkens

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“I’ve probably revised this investor pitch deck 200 times,” a founder told me recently. She’d met with more than 50 potential investors before closing a seed round last month. This might sound excessive to some, but her experience is not unusual.

Entrepreneurs often spend hundreds of hours raising funds from angel and venture capital investors. While these activities are clearly important, analysis of new data on startups suggests that founders should also dedicate significant time to something that many people overlook: recruiting great mentors. This simple strategy can increase a company’s odds of success more than almost anything else.

Discovering the secrets of the best founders

Our team studied thousands of tech businesses last year. We looked specifically at companies in New York City’s tech sector, which was the fastest-growing tech sector from 2003-2013 and is now the second largest tech hub in the world. The goal of this research was to investigate how local tech firms had become so successful.

Our analysts combined data from CrunchBase, AngelList and LinkedIn, and interviewed nearly 700 founders. (In total, New York tech founders dedicated more than a month of time to this project.) These sources enabled us to create the world’s largest database of a single entrepreneurship community.

We found that a number of characteristics that are often highlighted as predictors of success for startups – such as starting a company while in college – don’t actually make much of a difference. While these conclusions on traditional startup myths were interesting, we uncovered several other intriguing findings by examining the habits of the best firms and founders. Read more here: http://snip.ly/Y1Xg

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With Growthink on your side, you are in a win-win situation. They placed themselves in my situation and analyzed my business as if it were their own business. I could never recommend any firm but Growthink to provide business planning services at this level of quality. 
 Prem K. Kapani, CEO

Via Marc Kneepkens

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Success requires the confidence to begin and the humilty to listen when trustworthy people tell you what isn't working.

No one is born equipped with the skills to start and run a business. It takes hundreds of misses and trials in order to get to somewhere close to the initial idea that you have envisioned. Understanding the “why” of your idea is necessary and the “how” to go about it is penultimate. Keeping that in mind, here is a little cheat-sheet on five things that you should absolutely consider while you start a company.

1. Write a business plan.

Your business plan is a formal document that lays the foundation of who, what and why your company is. It is a step-by-step guide that will include your company goals, business model, product cycle and the marketing strategies you will use to achieve traction. It is also a window through which your business is shown to investors and financial institutions to raise funds.

However, an overlooked benefit of developing a business plan is that it gives ‘you’: clarity of thought and vision, more than anyone. Before convincing others, you have to convince yourself about the validity of your company and its raison d'être. Only then can you hope to encourage people to help you, work with you and fund you.

Once you have a well thought out business plan it is time to… Read more: http://snip.ly/3Zk0

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"The team at Growthink delivered exceptional quality service in every aspect of their client services. Their staff of professionals were extremely instrumental in fine tuning my creative vision into a well developed business plan."
  James E. Spence, Jr, Founder & CEO
At Bread Boutique

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