What Other Businesses Can Learn From Groupon

Groupon, pioneer of group buying and one the fastest growing associates in history, will have its begin on the stock markets today with an preliminary group gift (Ipo) that's values the company at thirteen billion dollars, more double the bn that Google offered for the three year old company last year.

A new company Insider profile of Groupon had some enthralling insights on this unique company and its growth, there's a amount of lessons that most company owners, entrepreneurs and managers can take from this company's dramatic increase and shop leadership regardless of the sector they operate in.

Apply tech to your company Many citizen make the mistake that Groupon is tech startup when it's in fact a sales operation.

Groupon's company model isn't in fact new, what they have done is applied varied web technologies to the directory and voucher shopping industries and come up with a 21st Century way of doing things.

Bringing together distinct contemporary tools like group media, cloud computing, local quest and the mobile web makes businesses more flexible and quick to invent new shop opportunities.

Prepare for quick changes Groupon was born out of someone else company - The Point. As The Point steadily died, Andrew Mason and his mentor Eric Lefkofsky decided to try something distinct and Groupon was born.

This potential to turn focus fast - often called "pivoting" - is requisite in changing markets. In vaporing times like today where today's company conditions can't be taken for granted we have to be ready for rapid changes.

Fortunately the cost and time to changes your company focus has dropped dramatically with digital and online tools, which is someone else fancy to embrace tech.

Get a good company mentor Eric Lefkofsky bought maturity and a perspective to Groupon's young leadership, having a distinct and more experienced view of the company helped it invent and grab the opportunity.

An experienced company mentor can be worth their weight in gold.

Back a good idea In Nicholas Carson's company Insider profile he describes Andrew Mason role at Eric Lefkofski's company before The Point as "an intern, 'kind of squatting in their offices'". Lefkofski was ready to back the geeky kid camping on his premises.

Putting your prejudices and judgements on the shelf to back good ideas, particularly those that don't cost much to execute, is one way to find where the opportunities lie.

Tell your company story Regardless of what you think of Groupon's claims, they tell a very good story which has lead to their remarkable increase and the improvement of the group buying industry.

Being able to tell your story, in your terms, is one of the great advantages the web, local quest and group media deliver. There's no fancy why your company shouldn't be dominating the local shop in whatever field you work in.

Regardless of what your company does, it can advantage from applying the online tools that are available to all of us.

We may not be the next Groupon but the web gives us the opportunity to build our company to take advantage of the 21st Century. It's worthwhile understanding the new tools at our fingertips.

at Yahoo What Other Businesses Can Learn From Groupon at Yahoo