The Next Big Thing: Jeff Bussgang breaks down some insider tips on understanding venture capital funding rates as quoted by Don Dodge in his June 25th blog entry, Why VCs say no 99% of the time. Bussgang says, "As one wise old VC once told me, 'the trick in this business is to spend very little time on a lot of deals, and then a lot of time on very few deals.' In other words, see everything to be a better investor, but exert a very tough first filter so that you only spend time on very, very few deals.  In my experience, a typical VC has the bandwidth to actively 'spend time' or actively work on only one to two deals at any given time and perhaps 10-20 in a year -- as compared to those 300-500 they get exposed to." Find out why this formula works magic, and not only for venture capitalist, by reading the rest of Dodge's piece at the above link.

Innovate On Purpose: It's not surprising that some companies get bogged down in the comfort of measurable, dependable methods and results but they might not realize that this very mindset is keeping them from innovation and big leaps forward. Jeffrey Phillips shares his thoughts on the trouble that focusing on predictable results can get your entrepreneurial venture in: "[I[ndividuals measured on operational excellence want consistency, a clearly defined process that people follow closely, the elimination of failures and mistakes, the elimination of variance. These are GOOD things for an organization once it has determined the appropriate mix of products and services customers want. To be able to deliver the products and services at the highest quality and lowest cost is valuable." However, it is this same way of viewing a company's goals and aspirations that get in the way of the "Eureka!' moments necessary to propel things forward in large steps as opposed to measured, and paced baby steps. Be sure to read Phillips' Operational Excellence - once an enemy, now a friend to innovation? for an insightful look at the changing face of how to drive business outcomes.

HBS - Innovation Insights: How can Google go from young, impish startup with lots of zest and plenty of time for rogue engineers to innovate freely to a mature, innovative megacorp with a successful and varied product base on which to sustain its huge market presence? Scott Anthony has three things that he offers to the Googlers that might help them make it through the current economic crisis to the other side where lollipops and sugar canes wait by the bushelful. Anthony writes, "First, set and communicate clear criteria for how you make funding decisions. Make sure those criteria include quantitative elements (how big could the market be) and qualitative elements (how passionate are we about this). Second, create an 'ideal' innovation portfolio that blends core improvements and new growth businesses. Finally, consciously seek ideas that provide 'unique' diversification by using a new channel, reaching a new customer, or creating a new revenue stream." If that trio isn't enough information on one expert's views on helping Google bridge the gap to "adulthood," just click on through and read the remainder of Google grows up for your very own self.

Springwise.com: And I used to be impressed at the clever origami-like pop-up structures that spring up at music fests and outdoor events, but this is something much more interesting for the potential franchise owner: a pop-up restaurant that is both highly transportable and earth-friendly at the same time. Here's some details to whet your appetite for this killer idea: "Müvbox features a fully functional kitchen with enough space for four members of staff and a wood-fired pizza oven. The walls of the container collapse to create a covered patio with enough room to serve 28 people, half of whom can be seated at small bistro tables. The concept has some laudable eco features, too: the structure is a reused container and little construction is needed to install it. Müvbox's floor is made from recycled tires and its roof contains solar panels to provide up to 40% of required energy. And it's easily shipped by land or sea. The food is mostly local, too, serving lobster rolls, seafood pizza and other local lobster dishes." The cost isn't astronomical at ~$150K and it's totally customizable for your particular application. Read Foldout restaurant has solar panels, will travel for more on this most excellent concept.

BusinessWeek.com: In an attempt to maximize marketing dollars, and to better compete with Staples and other similar operations, business supply giant OfficeMax hired a firm to find out the things women want in their desks at work, and it appears that a sense of flair is one of them. Jessie Scanlon's How to Kick Off an Innovation Project explains this successful effort: "OfficeMax needed to innovate, but how? The first step was to understand the problem and the opportunities. A standard customer survey commissioned by the company in 2006 provided a starting point, revealing a split in how men and women thought about office supplies. Knowing too that women had spent $44.5 billion on office supplies the previous year, OfficeMax wondered if a focus on female shoppers might be an opportunity to differentiate itself. Ultimately the new strategy, and the innovations that followed, influenced everything from product development and marketing to store design and hiring." Slogging through the study's data revealed a number of key places that OfficeMax could focus on and steal market share away from its competitors, including more fashionable designs and some specially-created items that addressed a number of problems that female shoppers were experiencing. Can you think of an area that you're business can improve to capture more customers?

Bonus piece o' the day: NuWire Investor's How To Register A Trademark: A Guide For Acquiring A Trademarkby Clifford D. Hyra.