How Entrepreneurs Can Use Data Aggregation to Grow Their Business

One of the rising tech sectors today is data aggregation with many millennials coming to the forefront of the industry to bundle information and convey it in a summary form.

Aggregating is all around us

To fully understand what data aggregation is, let’s look at this example: Data-collecting companies, like Facebook, gather intelligence such as likes or page-visits users consume. This information is carefully organized to promote ads or document what users see in their feeds. In business using behavior metrics such as the number of transactions, or average age of the consumer, helps the company focus on bestsellers. 

Related: Opportunity For Startups in Manufacturing, Logistics and Supply Chain

What does this mean to the average entrepreneur? Using these kinds of systems can pinpoint and increase productivity to boost sales and growth

Related: [Funding Alert] Healthtech Start-Up Innovate Raises $70 Million

Dollars for data

Vasiliy Fomin is an excellent example of someone currently cashing in by way of running a data aggregator, bundling information from various sources into a single API, and allowing all types of businesses to power their offerings to consumers. He’s been able to build a thriving business earning millions in revenue by selling aggregated vehicle data, arrest record data, and more to a network of qualified resellers. 

For entrepreneurs, research and development are essential in understanding the market behavior so as to provide the best services to their customers. Data aggregators embrace innovations, new ideas and critical questioning by syncing with the industry’s changing trends in various aspects like leading, hiring, retaining and technology.

Related: 4 Ways Businesses and Consumers Can Take Back Their Data

By: Luis Jorge Rios Entrepreneur Leadership Network Contributor

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3 Tips For Deciding If An Investment In Your Business Is The Right One

Most of us have heard the phrase, “It takes money to make money.” It’s often necessary to invest in order to make more. This isn’t always an easy decision, but the question that many entrepreneurs ultimately have to ask themselves is, can you really expect customers to invest with you if you’re not willing to invest in yourself? 

When you consider investing in professional development such as a coach, consultant, mentor or online course, making sure this is worth both the time and financial commitment is strategic. But if the statistics are anything to go by, this strategy can quickly turn into fear for many women in particular.

Research shows that 71% of all assets held by women are in cash, but that 68% of women lose sleep because of money worries. It’s time to stop letting the fear of not having enough stop you from investing to build your wealth. 

These are my top three tips for making smart investments and minimizing money worries.  

Related: Want to Become a Billionaire? Invest in Your Own Business, Not Your 401(k).

Home in on your goals 

The first step is to write down your biggest goal for your business. What is it you really want to achieve? Is it to make six figures in fewer hours, or perhaps to build a big company that you will lead with lots of employees? Getting clear on this will protect you when you come across “shiny objects” — complex websites, funnels or branding that the sales world will try to convince you is absolutely necessary.

We usually succumb to these entreaties when we’re not focused on our end goal; when we procrastinate and look for quick fixes. Deciding what is just a shiny object or a really good investment starts with the question, “Will this investment help me achieve my goal faster?” 

Only when it’s a yes should you consider the investment seriously. 

Work out your boundaries 

Next, you need to decide if the investment is in alignment with what you want to achieve and how you want to get there. Write down what you are and are not willing to do to hit your big goal in your business. For example, will the commitment of the investment mean you’ll have to work 50 hour weeks when you only want to work 10? If so, then it’s probably not a good fit. 

It’s also a good idea to write down your values. Don’t let your feelings or mental blocks get in your way. Take your time so your fear doesn’t interfere. You might think that you don’t want to do sales calls. However, sales are a big part of a successful business. So, is it actually true that you don’t want to sell and thereby help other people, or could it be that you simply don’t want to feel like an old-fashioned salesman cold-selling by knocking on doors? If you were to feel good about selling, would selling be aligned? Most likely it’s a yes. 

Essentially, if your boundaries and values are in line with the investment, you should move forward to the last step. 

Assess the level of support

Investments are a vehicle for getting you from A to B, and it’s up to you to decide how you want to travel. Think of it like an airplane: You can go from London to Paris flying economy, Business or FirstClass. 

If you know that your money is tight and you are willing to have less support on your journey, an online course could be the way. If you know that you are willing to find the funds to get fully supported and get to your goal easier and faster, bespoke one-on-one coaching could be an option. If you want to be around other high-achieving entrepreneurs to push yourself and achieve more, a mastermind could be a great investment. 

This is when you need to ask yourself the question, “Is this investment providing the right level of support that I want?” If that’s a yes, you’re on the right track.

Related: 10 Ways You Should Invest Your Company’s First Profits

The lowdown of Investing 

Overthinking is often a massive pitfall, making you say no to things you really want and ending in you missing out on great opportunities. Investing in something is supposed to make you feel nervous and excited at the same time, and will most likely be a true game-changer in your business. 

When I started out, I had no savings at all, only debt. But I wanted to move fast, and my family couldn’t afford for me to not make money, so I found a way to make it happen. 

I started with “smaller” investments — $500 or $2,000 — which felt just as scary as the six-figure investments I make now. Since then, I have learned from experience that if the investment is not a stretch, I’m not really taking a risk, so the likelihood of me building success momentum is small.

Today, women invest with me at all levels — from $ 1,000 to $ 100,000 — and I celebrate them all for making the commitment financially, mentally and emotionally. Investment is always a risk, and having the tools to help you decide if it’s one worth taking is essential. 

By: Rikke Hundal Entrepreneur Leadership Network Writer

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Phil Town’s Rule #1 Investing

Everything I teach about investing in companies applies to every investment that you could possibly make, and that’s all based on the advice I’ve received over the years. Today, I’m going to give you my 5 best pieces of advice so that you can be a successful investor too. http://bit.ly/2kFiMBa Knowing you will make money comes from buying a wonderful business at an attractive price. Click the link above to learn the Four Ms for Successful Investing! Looking to master investing? Attend one of my 3-Day Transformational Investing Workshops, virtually! Reserve your seat here: https://bit.ly/r1-virtual-workshop _ Learn more: Subscribe to my channel for free stuff, tips and more! YouTube: http://budurl.com/kacp Facebook: https://www.facebook.com/rule1investing Instagram: https://instagram.com/ruleoneinvesting Twitter: https://twitter.com/Rule1_Investing Google+: + PhilTownRule1Investing Pinterest: http://www.pinterest.com/rule1investing LinkedIn: https://www.linkedin.com/company/rule… Blog: http://bit.ly/1YdqVXI Podcast: http://bit.ly/1KYuWb4 Buy my bestselling book Rule #1: https://amzn.to/2R9Gofj

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The Balance Between Your Personal & Work Life Is Simple To Be Successful At Work: Live

The Organization for Economic Cooperation and Development (OECD) conducted a study to determine which countries offered their workers the best balance between personal life and work life . The researchers considered a number of factors including average work hours , personal time, and number of working moms. In the end, the Netherlands took first place with a rating of 9.3 out of 10, while several countries in America ended up presenting a very bad rating.

Not being able to balance work and life can put your health at risk. In fact, many studies have shown that people who work long hours and do not have time for themselves have a 33 percent greater chance of having a heart attack, and a 13 percent greater risk of cardiovascular disease. Fortunately, there are many ways to balance your personal and business life to protect your health .

Put into practice the following tips that will change your life:

1. Get rid of unnecessary activities

Many entrepreneurs work longer hours than they should because they are wasting their time on unnecessary or low-value activities. Find out if this is your problem by recording every minute of your time for a few days. Then review what you wrote down and identify the activities that do not add value.

Eliminate distractions like checking social media or taking personal calls while you work. These activities may not take you more than a couple of minutes, but they add up. You should also analyze if you are wasting a lot of time on activities that someone else could do. For example, if you are wasting time going to the supermarket, maybe you could hire someone to do it or order the supermarket at home.

Getting the most out of every minute of the day is essential to find the balance between work and personal life. By cutting back on non-value-added activities like distractions and errands, you can work fewer hours and take care of your health.

2. Schedule social activities on a recurring basis

Studies have shown that having an active social life is important for health. People who isolate themselves from others increase their chances of dying sooner by fifty percent. But making time for social activities can be tricky, especially when you’re trying to grow a business. One way to overcome this is by scheduling recurring social activities with your closest friends.

For example, plan to have one dinner a month with a group of friends. Put this activity on your calendar, and now you can organize your work schedule around dinner, and not the other way around. This strategy is effective because it forces you to make time to disconnect and have fun with your friends. Think of this social activity as a meeting with an important client, something you can’t cancel regardless of how busy you are.

3. Learn healthy ways to cope with stress

Being an entrepreneur is stressful. No matter how many activities you cut off your list or how often you see your friends, you can’t escape stress. Chronic stress has a negative impact on your mind and body, which can lead to dangerous health conditions such as cardiovascular disease or high blood pressure. But this does not mean that living under stress will shorten your life expectancy. The key to finding a balance between work and health is learning to manage stress.

Get into the habit of taking a step back from stressful situations, just for a few moments to calm down and collect your thoughts. For example, let’s say a client sends you an email demanding something almost impossible. If you feel like your heart is racing and your blood is starting to spike everywhere, get up from the computer and take a walk, even through your office. If you can go for a walk, do it to calm the thoughts that were accumulating in your head. Going for a walk, even for a few minutes, reduces stress and brings clarity to the head.

Dr. Michael Galitzer, author and physician, recommends entrepreneurs to practice deep breathing to relieve stress. Put one hand on your stomach and one on your chest. Begin to breathe deeply from the abdomen to fill your lungs with air. As you slowly breathe in and out, focus on how your abdomen rises and falls. This will make you focus on something other than what is causing you stress and it will be easier to calm you down. Inhale for a count of four, hold the breath for another four seconds, and then exhale for a count of four. Using one of these methods to deal with stress can calm your mind so that you are better prepared to handle the situation that stressed you out.

As an entrepreneur, you are most likely not used to putting yourself first. But it is important to understand that doing so does not mean putting your business aside. By following these tips, you can find the perfect balance between your work and your health, and be more successful than ever in the business world.

By: Brendan M. Egan Founder & CEO of Simple SEO Group

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Practical Wisdom – Interesting Ideas

In today’s video, we are going to share with you, tips you can use to achieve a balanced life. Whether it’s your work, family or any other area in your life you need a balance in, these tips should help you achieve them. #Work&Living More Videos: 10 Legit Ways To Make Money And Passive Income Online – How To Make Money Online – https://www.youtube.com/watch?v=EAj0Z… 10 Signs You Were Born To Be Rich – https://www.youtube.com/watch?v=N0gtV… HOW THE RICH HIDE THEIR MONEY AND PAY NO TAX – https://www.youtube.com/watch?v=tXou5… 7 Types Of Income Of An Average Millionaire – How To Become Rich – https://www.youtube.com/watch?v=lPNN_… 10 Steps To Financial Freedom – How To Be Good With Money – https://www.youtube.com/watch?v=ihne3… References: http://bit.ly/2PHFMM8 Music: (Dreams) by Bensound.com Practical Wisdom – Interesting Ideas

Billionaire Eric Lefkofsky’s Tempus Raises $200 Million To Bring Personalized Medicine To New Diseases

On the surface, Eric Lefkofsky’s Tempus sounds much like every other AI-powered personalized medicine company. “We try to infuse as much data and technology as we can into the diagnosis itself,” Lefkofsky says, which could be said by the founder of any number of new healthcare companies.. But what makes Tempus different is that it is quickly branching out, moving from a focus on cancer to additional programs including mental health, infectious diseases, cardiology and soon diabetes. “We’re focused on those disease areas that are the most deadly,” Lefkofsky says. 

Now, the billionaire founder has an additional $200 million to reach that goal. The Chicago-based company announced the series G-2 round on Thursday, which includes a massive valuation of $8.1 billion. Lefkofsky, the founder of multiple companies including Groupon, also saw his net worth rise from the financing, from an estimated $3.2 billion to an estimated $4.2 billion.

Tempus is “trying to disrupt a very large industry that is very complex,” Lefkofsky says, “we’ve known it was going to cost a lot of money to see our business model to fruition.” 

In addition to investors Baillie Gifford, Franklin Templeton, Novo Holdings, and funds managed by T. Rowe Price, Lefkofsky, who has invested about $100 million of his own money into the company since inception, also contributed an undisclosed amount to the round. Google also participated as an investor, and Tempus says it will now store its deidentified patient data on Google Cloud. 

PROMOTED Google Cloud BrandVoice | Paid Program How Anthos And Multi-Cloud Are Transforming Enterprise IT UNICEF USA BrandVoice | Paid Program Protecting Children In Venezuela During The Pandemic AWS Infrastructure Solutions BrandVoice | Paid Program Studios Of The Future: A Hybrid Cloud Model For Media & Entertainment

“We are particularly attracted to companies that aim to solve fundamental and complex challenges within life sciences,” says Robert Ghenchev, a senior partner at Novo Holdings. “Tempus is, in many respects, the poster child for the kind of companies we like to support.” 

MORE FOR YOUTony Hsieh’s American Tragedy: The Self-Destructive Last Months Of The Zappos VisionaryWhy 40 North Ventures Bought GE Ventures’ Stakes In 11 Industrial StartupsAt-Home Health Testing Company Everlywell Raises $175 Million Series D Round At A $1.3 Billion Valuation

Tempus, founded by Lefkofsky in 2015, is one of a new breed of personalized cancer diagnostic companies like Foundation Medicine and Guardant Health. The company’s main source of revenue comes from sequencing the genome of cancer patients’ tumors in order to help doctors decide which treatments would be most effective. “We generate a lot of molecular data about you as a patient,” Lefkofsky says. He estimates that Tempus has the data of about 1 in 3 cancer patients in the United States. 

But billing insurance companies for sequencing isn’t the only way the company makes money. Tempus also offers a service that matches eligible patients to clinical trials, and it licenses  de-identified patient data to other players in the oncology industry. That patient data, which includes images and clinical information, is “super important and valuable,” says Lefkofsky, who adds that such data sharing only occurs if patients consent. 

At first glance, precision oncology seems like a crowded market, but analysts say there is still plenty of room for companies to grow. “We’re just getting started in this market,” says Puneet Souda, a senior research analyst at SVB Leerink, “[and] what comes next is even larger.” Souda estimates that as the personalized oncology market expands from diagnostics to screening, another $30 billion or more will be available for companies to snatch up. And Tempus is already thinking ahead by moving into new therapeutic areas. 

While it’s not leaving cancer behind, Tempus has branched into other areas of precision medicine over the last year, including cardiology and mental health. The company now offers a service for psychiatrists to use a patient’s genetic information to determine the best treatments for major depressive disorder. 

In May, Lefkofsky also pushed the company to use its expertise to fight the coronavirus pandemic. The company now offers PCR tests for Covid-19, and has run over 1 million so far. The company also sequences other respiratory pathogens, such as the flu and soon pneumonia. As with cancer, Tempus will continue to make patient data accessible for others in the field— for a price. “Because we have one of the largest repositories of data in the world,” says Lefkofsky, “[it is imperative] that we make it available to anyone.” 

Lefkofsky plans to use capital from the latest funding round to continue Tempus’ expansion and grow its team. The company has hired about 700 since the start of the pandemic, he says, and currently has about 1,800 employees. He wouldn’t comment on exact figures, but while the company is not yet profitable he says Tempus has reached “significant scale in terms of revenue.” 

And why is he so sure that his company’s massive valuation isn’t over-inflated? “We benefit from two really exciting financial sector trends,” he says: complex genomic profiling and AI-driven health data. Right now, Lefkofsky estimates, about one-third of cancer patients have their tumors sequenced in three years. Soon, he says, that number will increase to two-thirds of patients getting their tumors sequenced multiple times a year. “The space itself is very exciting,” he says, “we think it will grow dramatically.” Follow me on Twitter. Send me a secure tip

Leah Rosenbaum

Leah Rosenbaum

I am the assistant editor of healthcare and science at Forbes. I graduated from UC Berkeley with a Master’s of Journalism and a Master’s of Public Health, with a specialty in infectious disease. Before that, I was at Johns Hopkins University where I double-majored in writing and public health. I’ve written articles for STAT, Vice, Science News, HealthNewsReview and other publications. At Forbes, I cover all aspects of health, from disease outbreaks to biotech startups.

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Eric Lefkofsky

To impact the nearly 1.7 million Americans who will be newly diagnosed with cancer this year, Eric Lefkofsky, co-founder and CEO of Tempus, discusses with Matter CEO Steven Collens how he is applying his disruptive-technology expertise to create an operating system to battle cancer. (November 29, 2016)

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This London Tycoon Harbors A Surprisingly Shady Past

Tej Kohli’s name is up in lights in Paris, flashing on the walls in giant, bold type inside the new high-ceilinged headquarters of French e-sports Team Vitality, a 20-minute walk from the city’s Gare du Nord train station. Some of Europe’s top video game players, influencers, journalists and sponsors have arrived on this November day to buoyantly pay tribute to Kohli, a U.K.-based, Indian-born entrepreneur, now heralded as the lead investor in the e-sports team. Team Vitality has raised at least $37 million and scored partnership deals with Adidas, Renault, telecom firm Orange and Red Bull, with a stated goal to become the top team in European competitive gaming.

E-sports, Kohli proudly tells Forbes, “encompasses the entire spectrum of business … [and is] not very different from other things we do in technology.” His wavy mane of dark hair stands out in the room like a beacon, as he beams amid the buzz and recognition.

London is home to 55 billionaires, with more on the outskirts, and they generally fall into two camps: those who completely shun publicity, and those, like Richard Branson and James Dyson, who enthusiastically embrace it. Kohli, who lives in a multimillion-dollar mansion in leafy Henley-on-Thames, aspires aggressively to the latter. In April, Kohli told the FT’s How To Spend It supplement that, “Sometimes in business it’s important to show you can sell yourself by way of your lifestyle.” His website describes him as “Investor, Entrepreneur, Visionary, Philanthropist,” with photos of an apparent property portfolio, with about half a dozen apartment buildings in Berlin, one in India and an office tower in Abu Dhabi. He claims to be a member of two exclusive London private clubs, 5 Hertford Street and Annabels, and publicly gives tips on “foie gras … roast chicken” and places where “the steaks are huge.”

Kohli has employed a large coterie of PR consultants and actively courts the media, pushing grand visions that back up this image. In a 2013 article he wrote for The Guardian, he offers advice on how to get a job in the tech industry (“Learn to code”). In 2016 he told a Forbes contributor: “The one mission that every entrepreneur has, as a person rather than as an entrepreneur, is to extend human life.” And his Tej Kohli Foundation Twitter bio brags that “We are humanitarian technologists developing solutions to major global health challenges whilst also making direct interventions that transform lives worldwide.” A press release issued in mid December boasted of more than 5,700 of the world’s poorest receiving “the gift of sight” in 2019 at Kohli’s cornea institute in Hyderabad, India.


Kohli also aspires to be validated as a billionaire. Over the past two years, his representatives have twice reached out to Forbes to try to get Kohli included on our billionaires list, the first time saying he was worth $6 billion—more than Branson or Dyson—and neither time following up with requested details of his assets. (Kohli’s attorneys now claim that “as a longstanding matter of policy,” Kohli “does not, and has never commented on his net worth,” suggesting that his representatives were pushing for his billionaire status without his authorization.)

There may be good reason for his reticence. It turns out that Kohli—who in a July press release describes himself as “a London-based billionaire who made his fortune during the dotcom boom selling e-commerce payments software”—has a complicated past. Born in New Delhi in 1958, Kohli was convicted of fraud in California in 1994 for his central role convincing homeowners to sell their homes to what turned out to be sham buyers and bilking banks out of millions of dollars in loans. For that he served five years in prison.

Kohli then turned up in Costa Rica, where he found his way into the world of online gambling during its Wild West era in the early 2000s. He ran online casinos, at least one sports betting site, and online bingo offerings, taking payments from U.S. gamblers even after U.S. laws prohibited it, according to seven former employees. He was a demanding, sometimes angry boss, according to several of these employees.

A spokesman for Kohli confirmed that he ran an online payments company, Grafix Softech, which provided services to the online gambling industry, between 1999 and 2006—and that he acquired several distressed or foreclosed online gaming businesses as a limited part of the company’s portfolio. “At no point was any such business operated in breach of the law,” Kohli’s representative said in a statement.                   

Though his representative claims that Kohli has had nothing to do with Grafix since 2006, Forbes found more than a dozen online posts or references (some deleted, some still live and some on Kohli’s own website) between 2010 and 2016 that identify Kohli as the chief executive or leader of Grafix Softech—including the opinion piece that Kohli wrote for The Guardian in 2013.                        

Even in a world of preening tycoons, this juxtaposition—the strutting thought leader who actively gives business advice while he just as actively tries to stifle or downplay any sustained look into his business past—proves eye-opening.

According to Kohli’s back story, he grew up in New Delhi, India, and he has told the British media that he’s the son of middle-class parents. Per his alumni profile for the Indian Institute of Technology, Kanpur (about 300 miles southeast of New Delhi), Kohli completed a bachelor’s degree in electrical engineering in 1980 and developed “a deep passion for technology and ethical and sustainable innovation.”

At some point, he wound up in California, and set up a “domestic stock” business called La Zibel in downtown Los Angeles. Kohli still uses the Zibel name for his real estate operations today. By the end of the 1980s, Kohli was presenting himself as a wealthy real estate investor who purchased residential properties in southern California to resell for profit. The truth, according to U.S. District Court documents, was that from March 1989 through the early 1990s Kohli, then reportedly living in Malibu, had assembled a team of document forgers and “straw buyers” to pull off a sophisticated real estate fraud.

Source: This London Tycoon Harbors A Surprisingly Shady Past

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