Berkonomics

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After 20 years: Updating the Berkus Method of valuation

Berkonomics

Well, it had to happen. But a lot of time has passed since then. Today, for me, that hurdle number is $20 million. The Method should allow for this.

Startups: What are your odds for success?

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Well, the numbers don’t lie, even if there are several sources of these statistics. Starting a company is HARD – in so many ways. And risky too.

How to think like a growth CEO

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Here is a way to test yourself with a tool useful for any leader seeking to create positive change. We’ll use this loosely to frame our process.

Five ways we are surviving long term

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” He and his company have worked in the video game business since the very earliest generation of games in the early 1980’s. Huge mistake.

The lion and the ant: A managerial lesson

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This story has been making the rounds lately, and I confess that our research cannot find the source. Guess who the lion fired first?

Work on your three levels of leadership

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

Money motivates.

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What a title. Of course money motivates. But there is more to it then this. Email readers, continue here…] First, be rule specific.

The seven attributes of a highly successful start–up CEO

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

Ideas 20

Don’t go on a phishing trip!

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He is a trusted technology and security consultant and public policy advisory to some of America’s most influential people and organizations. .

The best advice startups will never follow

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Let me tell you a few short hair-raising stories of entrepreneurs who have raised money and regretted it later. Ignition! Starting up Raising money

It’s what you ask, not what you know.

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A friend recently told me a story that had nothing to do with business, but unintentionally had a great lesson for all of us.

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How to avoid “death by meeting.”

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Imagine yourself with a calendar requiring you to be in six meetings in a day. Day after day. Slowly in many cases. And expensively.

Email 15

Eye of the needle? Why worry over your bottlenecks.

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Think for a minute whether there is any process or person that could be classed as the eye of the needle in your organization.

How do you focus your team for action?

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How do you get your team to focus and move forward effectively? We all can benefit from this lesson. The lesson is powerful but simple. Growth!

Premature scaling kills businesses.

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It was true for Amazon and other visionary companies that grabbed market share during the early Internet era. But beware. Growth!

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

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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.

Big data: Information is NOT knowledge

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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! Positionin

Tool 18

The “drop dead” question for a customer survey

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He goes on to quantify the response. What a great test. and provide several checkbox answers, including ‘friend or colleague.’ Growth! Positioning

Double down!

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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.

Nail it; then scale it.

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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

Fire yourself. Rehire a new you.

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When a new CEO or manager is hired into a company, for a while lots of energy flows from the top and new ideas seem to be generated daily. Growth!

Ideas 21

You are watched more closely than you think.

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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.

Drive your recurring revenues.

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

Reward success and failure. Punish only inaction.

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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.

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

Three things you need to have when raising money.

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

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

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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

Hugh opportunities do NOT command amazing pre-money valuations.

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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.

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By David Steakley. If you are a screenplay writer, you are familiar with the dogma of the inciting incident. You may not spot it at first. Growth!

Both sides must be fair in a term sheet negotiation.

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

Who cares about customer loyalty?

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Repeat customers, raving fans, angry backlashers, commodity shoppers. Oh boy, what a range of loyalty these represent. Often. That’s habit–shopping.

Hire on ability. Fire on fit.

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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 three legged stool of marketing excellence

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

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

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

Be an Adaptive Business Leader.

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

Are you an old school customer marketer?

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“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.

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By Basil Peters. Most entrepreneurs wait too long to start thinking about their exit. That’s exactly what I did in my first company.

Create a ten percent profit model.

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

The five tactical skills of a great executive

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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. General

Three qualities of a great leader

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By Dave Berkus. There are lots of ways to measure a great leader. Here are three that should resonate with you as leader and with those who follow you.