Berkonomics

Trending Sources

The lion and the ant: A managerial lesson

Berkonomics

The boss, a lion, was surprised to see that the ant was working without supervision. He also needed a secretary to help him write and type his reports.

Hire for talent. Rent for experience.

Berkonomics

Want the best way to create your core competency quickly and inexpensively?   There are obvious advantages to this. 

Work–life balance is now a cliché

Berkonomics

Dave’s Note:  Our special guest author this week is Kelly Graham from Decision Toolbox, Inc. Work–Life Balance is dead. Where is the balance?

A simple test: “Are we managing like jerks?”

Berkonomics

Are we who issue orders to associates or employees ever acting as jerks?  We’d never like to think so, or we wouldn’t do it in the first place.

Work on your three levels of leadership

Berkonomics

Another leadership development bit?  But if you have no time or are impatient, here are the three levels:  visionary, strategic and tactical.  Growth!

Hire on ability. Fire on fit.

Berkonomics

This is not necessarily the way we intend to behave as managers, but our headline reflects the reality of most experiences when viewed in retrospect.

Coach 11

The seven attributes of a highly successful start–up CEO

Berkonomics

By David Friedman. I met Kirsten Mangers several years ago after she successfully sold her startup, Webvisible.   Culture Maven. Chief Recruiter.

Ideas 17

Big data: Information is NOT knowledge

Berkonomics

Say that you have a log file of every contact to your website. You can accurately state that you have big data at your fingertips.  Growth!

Tool 18

Premature scaling kills businesses.

Berkonomics

But beware. Many, many companies accepting venture capital lost it all following this instruction.  Angel investors are more tolerant of this than VCs.  

Double down!

Berkonomics

This piece of wisdom came from Jeff Bezos, founder & CEO of Amazon, during a board meeting for one of the companies where he sits as board member.

The “drop dead” question for a customer survey

Berkonomics

If more than forty percent of the respondents say they would be “very disappointed,” the product should go viral and be a great success. Growth!

Nail it; then scale it.

Berkonomics

So your business has begun to take off. Don’t be alarmed by this next statement. That’s relatively easy. The second crisis is organizational. Growth

Class 21

Drive your recurring revenues.

Berkonomics

This week, our guest post is by   David Steakley, a past President of the Houston Angel Network, and a reformed management consultant. Growth

Fire yourself. Rehire a new you.

Berkonomics

We may run out of fresh ideas after a time; most of us do.  Growth! Surrounding yourself with talent

Ideas 21

You are watched more closely than you think.

Berkonomics

Ever had a manager above you who said one thing and did another?  At least once?  Or in a pattern of repeats?  Well, you’re not alone. 

Reward success and failure. Punish only inaction.

Berkonomics

Reward failure?  That may be a difficult concept for an executive. And there are limits of course. What if those failures are commonplace?  

Sell when growth is high, even if cash flow is low.

Berkonomics

By John Huston. There are only two types of companies -those which have achieved positive cash flow and those which have not. 

Angels and VCs: Don’t be greedy even if you can.

Berkonomics

Sometimes the end game or sale of the company is not a happy event for the early investors, including the entrepreneur or the founders. 

Sales 17

Three things you need to have when raising money.

Berkonomics

Here’s more advice from professional investors for aspiring entrepreneurs.  Come to think of it, these are good for challenging any business plan.

Hugh opportunities do NOT command amazing pre-money valuations.

Berkonomics

Dave’s note: Popular Bill Payne returns this week with a thoughtful take on valuations. By Bill Payne. million. It doesn’t seem right, huh?

The “inciting incident:” Movie scripts tell us how and when to look for investment.

Berkonomics

By David Steakley. Companies also need an inciting incident, because, more often than not, you often will depend upon selling your story to someone.  

Both sides must be fair in a term sheet negotiation.

Berkonomics

By Basil Peters. good example was during the negotiation of a term sheet. Email readers, continue here.]  Raising money

The three legged stool of marketing excellence

Berkonomics

Marketing is a science devised to help drive customers to your door. This is considered to be the producer-oriented model. Oh boy. Decrease costs.

Exit timing and price: WHEN to sell? How long does it take?

Berkonomics

We are pleased to host Basil Peters,  perhaps the best known name in the world of early stage company exits.  By   Basil Peters.

Are you an old school customer marketer?

Berkonomics

“Broadcast the message and they will come!”  “Segment my broadcast and I will have better response.”  She bought again. Old school or new school.

Timing your exit – Don’t ride it over the top.

Berkonomics

By Basil Peters. Most entrepreneurs wait too long to start thinking about their exit.  They were mostly victims of their own human nature.

Be an Adaptive Business Leader.

Berkonomics

Unlike other groups, ABL members all belong to either healthcare or technology industry-focused roundtables.  facing their industry.

The five tactical skills of a great executive

Berkonomics

While we are on the subject of great leadership, let’s list the five principal tactical skills of a great leader.  Skill number one: delegate. Genera

Three qualities of a great leader

Berkonomics

By Dave Berkus. There are lots of ways to measure a great leader.  The first quality in a great leader is to have laser focus. 

Create a ten percent profit model.

Berkonomics

Most entrepreneurs, when starting to model their business operations using a spreadsheet, start with expected revenue by month. General

Fish in the giant ocean – not in a shallow creek.

Berkonomics

You, the lonely fisherman, have to weave a net to catch your fish.  The size of your market may well define the ultimate size of your dream.  Growth

.Net 15

Is ‘servant leadership’ too soft for today’s workforce?

Berkonomics

It’s a term rooted in ancient philosophy.  Robert Greenleaf may have been the first to resurrect the concept in his book published in 1970. 

White-label it: Make it ‘YOU’ inside.

Berkonomics

By David Steakley. This week’s insight comes from David Steakley, who has contributed several great posts to Berkonomics this year. Growth

The five kinds of risk in building your business

Berkonomics

If you could predict a crisis within your business before its occurrence, wouldn’t you move to prevent or reduce its impact?  Third is finance risk. 

Two reasons to attack critical issues first.

Berkonomics

There are two reasons to consider reordering your priorities to attack your most critical issues first, before the easiest ones to knock off the list.

Sales 16

Project cash flow – not just profit – during start-up.

Berkonomics

Cash is everything to a new business.  How many times do we have to say this?  General

Email 20

Protect your outlier innovators.

Berkonomics

Email readers, continue here…]  That’s one scenario. Your best creative thinkers will leave you, looking for more challenges than you can offer. 

Are you too emotionally involved in the decision?

Berkonomics

Negotiating an agreement, especially one that involves personal gain, is tough for the person personally involved.  Think of buying a car, for example.

Include your labor value in your plan.

Berkonomics

That amount is almost always higher, much higher, than the amount budgeted for the entrepreneur. Berkus.com. Growth! Ignition! Starting up

Don’t get hung up on valuation.

Berkonomics

There is always another attractive deal at the ready, and most have reasonable expectations of valuation. Let me tell you two stories that are linked.