Each day, Inc.'s reporters scour the Web for the most important and interesting news to entrepreneurs. Here's what we found today:
Why not everyone can be like Zuck. Despite the successes of prodigies like Mark Zuckerberg, today's Wall Street Journal reports that 20-something entrepreneurs are still finding it difficult to be "the boss." One 23-year-old business owner tells the Journal it was his shaggy hair that prevented employees from taking him seriously, and even now that he's cut it short, he says some employees still call him "the boy." Another admits to being carded at a business lunch after ordering a beer with clients. Still, these challenges aren't keeping young entrepreneurs from dreaming big. According to the Kauffman Foundation, 40 percent of youths surveyed between the ages of eight and 21 said they hope to start their own businesses at some point. They could do worse than follow in the footsteps of Inc.'s 30 Under 30 honorees.
Google Instant and you. Yesterday Google rolled out its latest search feature called Google Instant, which updates queries in real time as you type them. Some are already hailing the feature as an industry game changer, but what does it mean for your business? John Paul Titlow of ReadWriteWeb speculates that users will quickly learn to refine their search terms on the fly, adding value to the top three search rankings. Google Instant will also likely result in a boost in the number of impressions for any search query, as the number of times a given site appears is bound to go up (seems promising for advertisers). One not-so-promising result for advertisers, however, may be how it will affect searches for specific, "long tail" keywords. As John Ellis of Search Engine Land writes, advertisers will be less inclined to bid on longer, cheaper searches like "Las Vegas 5-star Hotel" when users will likely only type "Las Vegas" in the query box to see what they are looking for. For more, check out our guide on How to Use Google to Improve Your SEO.
A tablet for the college set. Mention the word "tablet" today, and iPad is the first name to come to mind. But a company called Kno is hoping to change that for college students. The company, which is making a dual-screen tablet geared toward the higher ed market, has raised a $46 million round in equity and debt financing, reports VentureBeat. "The company is building an all-in-one tablet...that combines digital textbooks, course materials, e-mail, and the web," VentureBeat writes. CEO Osman Rashid, who co-founded textbook rental giant Chegg, says the tablet will come in at less than $1000. It better if it's to appeal to any group besides wealthy first-adopter students.
Hate writing checks? You're not the only one. Bruce Buschel, writing for the New York Times, opens his heart - and his checkbook - for readers in a piece today about the painful costs of building and opening his seafood restaurant. From trench drains to security alarms, Buschel laments the process of writing checks to the seemingly endless list of vendors. "I am sick of spending money and convincing myself that these are 'investments' and not expenditures," he says. And, after spending nearly $80,000 on glasses, dishes, pots, and kitchen equipment in August alone, I think we can feel his pain. To read more about opening a restaurant, check out this article on Larry Leith and the birth of his restaurant chain Tokyo Joe's.
RIP to a billionaire entrepreneur and TV pioneer. John Kluge, a German immigrant who turned a $15,000 investment in an AM radio station into the largest independent television business in the U.S., passed away yesterday at the age of 95. A pioneer in the television industry, Kluge competed with the major networks by re-running old sitcoms, such as M*A*S*H, and low-budget movies. By the mid-1980's Kluge sold his networks to Rupert Murdoch for more than $2 billion, an acquisition Murdoch used as the basis for News Corp.'s Fox network. Raised in a poor Detroit neighborhood, Kluge managed to earn a full scholarship to Columbia University, which he repaid by donating more than half a billion dollars to the university, specifically to be used for scholarships for underprivileged students. Kluge tended to avoid the media spotlight, but in a 1990 Forbes magazine interview, he had this advice for entrepreneurs: "Young entrepreneurs should spend an awful lot of time thinking about what they want to go into. The last thing you want to do, unless it's a very unusual situation, is to invest money. You should have a fund of knowledge of something and out of that you make up your mind. Money is not a fund of knowledge."
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