Berkonomics

MARCH 18, 2021

Sometimes, you can reduce your personal risk by taking in other people’s money in various ways, perhaps starting with a consulting contract with a customer, purchasing a going business where profit or loss is known, or spinning off an existing revenue-generating portion of an existing business. Here’s the ultimate thing about entrepreneurism.

Entrepreneur 156

Entrepreneur Resource Statistics Customer 156

Berkonomics

NOVEMBER 12, 2020

Can you create a product in a vacuum? Creating a new product in a relative vacuum is an exercise in complete trust that you know what’s best for the customer, perhaps even without interaction with such a customer. The first step : Involve potential customers early. Involve your customers early.

Product 156

Product Customer Custom Ideas 156

Startup Professionals Musings

DECEMBER 13, 2020

Having the best solution is a good start these days, but a solution alone is no longer enough to keep customer attention and loyalty. The most memorable businesses, like Starbucks and Apple, no longer sell products, they sell ‘experiences’ with a product at the center. Tie customer experience to all compensation and recognition.

Customer 168

Customer Custom Services Startup 168

Startup Professionals Musings

NOVEMBER 14, 2021

Yet every business and every entrepreneur I know struggles with this challenge, focused on hiring the right people and implementing the right process. I was happy to see my own view reinforced in the classic book, “ Innovation Thinking Methods for the Modern Entrepreneur ,” by long-time entrepreneur and innovation expert Osama A.

Entrepreneur 158

Entrepreneur Startup Outsource Development Design 158

socalTECH

MARCH 14, 2018

As part of our sponsor relationship with the conference, we're running a series of interviews with speakers from the conference about their experience in the area of recurring revenues, customer service, and similar topics. What's the biggest lesson you've learned about retaining and keeping your customers using the subscription model?

Customer 166

Customer Custom Conference Social Media 166

Startup Professionals Musings

AUGUST 22, 2020

Entrepreneurs have always believed that their product or service must show real value to customers, but today the smart ones are even able to make their marketing valuable. The days are gone when marketing was all “pushing product.” Customers don’t even see this as advertising. The key is consistency.

Customer 127

Customer Custom Marketing Content 127

Startup Professionals Musings

FEBRUARY 5, 2023

According to most definitions, an entrepreneur is one who envisions a new and different business, meaning one that is not a copy of an existing business model. Many entrepreneurs have a passion and an idea, or even invent a new product, but are never able to execute to the point of creating a startup. Funding and rollout stage.

Entrepreneur 108

Entrepreneur Startup Ideas Satisfaction 108

Startup Professionals Musings

OCTOBER 30, 2022

Today’s customers are much more in control of their buying decision, as they have more choices and more information than ever before. Bloom’s classic book, “ The New Experts: Win Today's Newly Empowered Customers.” This is a key moment where your customer acquisition costs go way down, and your profits go way up.

Customer 146

Customer Custom Startup Course 146

Startup Professionals Musings

SEPTEMBER 18, 2023

How many entrepreneurs do you know that “almost” made it big? Surveys show that entrepreneurs are among the happiest people in the world, despite the challenges. As an advisor to many entrepreneurs and startups, I’m always looking for early signs that usually lead to an “almost” success, but I have found them hard to pin down.

Entrepreneur 95

Entrepreneur Startup Customer Custom 95

Startup Professionals Musings

APRIL 2, 2022

Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. High-technology product startups, without customers, don’t make a business. During today’s dynamic customer journey, consumers often find themselves at a point of indecision.

Customer 122

Customer Custom Social Media Technical Review 122

Startup Professionals Musings

MAY 18, 2022

Here are some key insights that I and others have collected for mature company leaders, as well as serial entrepreneurs. Unfortunately, in this new age of rapid market change and harder-to-satisfy customers, you can’t assume that what worked yesterday will work tomorrow. If you like it, so will all your potential customers.

Entrepreneur 144

Entrepreneur Artificial Inteligence Social Media Commerce 144

Startup Professionals Musings

AUGUST 25, 2021

In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. Most importantly, you have to deal with customers, and understand their wants and needs.

Entrepreneur 158

Entrepreneur Satisfaction Ideas Social Media 158

Startup Professionals Musings

DECEMBER 19, 2022

As a startup advisor, I see many aspiring entrepreneurs whose primary motivation seems to be to work part time, or get rich quick, or avoid anyone else telling them what to do. Yet, for those with more realistic expectations and the right motivation, the entrepreneur lifestyle can be the dream life you envisioned.

Entrepreneur 110

Entrepreneur Organization Customer Custom 110

Both Sides of the Table

DECEMBER 7, 2014

I spend a lot of time with startups and thus hear many companies talk about their approach to sales and their interactions with customers. From these meetings you can really tell the leaders that care deeply about their customers and those the look down on them. You’d be very wrong.

Customer 341

Customer Custom Venture Capital Software Review 341

Startup Professionals Musings

SEPTEMBER 19, 2021

In fact, only 100 of the 10,000 multimillion-dollar consumer companies around the world can claim to be an “apostle brand” – one that inspires enduring trust, loyalty, and endorsement. The challenge of every startup is finding that balance between solving a real problem today, and giving customers the courage to make a leap forward.

Company 152

Company Companies Startup Customer 152

Startup Professionals Musings

DECEMBER 16, 2019

Every entrepreneur believes that their product or service is memorable, and that every customer will quickly see the advantage over competitors. Yet true product differentiation in the eye of the customer is rarely achieved. Quantify the difference for your customers.

Product 124

Product Customer Custom Examples 124

Startup Professionals Musings

AUGUST 27, 2022

Most entrepreneurs believe they are “different,” but they can’t quite understand how. The classic book, “ Hunting in a Farmer's World: Celebrating the Mind of an Entrepreneur ,” by serial entrepreneur and business coach John F. Dini makes the case that entrepreneurs are hunters, while the rest of us (large majority) are farmers.

Entrepreneur 124

Entrepreneur Marketing News Slides 124

Startup Professionals Musings

JUNE 26, 2020

As an advisor to new hardware entrepreneurs, I often hear the myth that a business plan is no longer required to find an investor, if your idea is good enough. What you don’t realize is these famous investors only deal with entrepreneurs who sold their last company for a $100M dollars or more.

Product 169

Product Summary Startup Examples 169

Startup Professionals Musings

JANUARY 8, 2022

With the cost of entry at an all-time low, and the odds of success equally low, more and more entrepreneurs are starting multiple companies concurrently. Other prolific entrepreneurs, like Richard Branson and Elon Musk , simply have several startups on the table at any given moment. Optimize your advisers and investors.

Entrepreneur 145

Entrepreneur Startup Resource Course 145

Startup Professionals Musings

JUNE 24, 2023

Customers buy from people, not companies. As an entrepreneur, you need relationships to succeed. That means relationships with team members, investors, customers, and vendors. Think back on your own recent experiences as a customer or contractor. Investors invest in people, not ideas. Show your admiration.

Customer 90

Customer Custom Outsource Development Entrepreneur 90

Startup Professionals Musings

FEBRUARY 4, 2022

It’s a special mix of entrepreneur and company, regular in every respect except for having the courage and foresight to make an idea happen that was supposed to be impossible. As an entrepreneur in a startup, how do you know if you have this potential, and what are the steps to get from an innovation to a revolution?

Entrepreneur 136

Entrepreneur Technology Examples Ideas 136

Startup Professionals Musings

MAY 31, 2020

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan.

Entrepreneur 124

Entrepreneur Startup Summary Product 124

Startup Professionals Musings

AUGUST 4, 2017

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Now all we hear about is providing the best “customer experience.” Entrepreneur of the Year” finalist. Exploit your product and service differences.

Customer 85

Customer Custom Product Marketing 85

Startup Professionals Musings

JANUARY 2, 2023

Whether you are an entrepreneur managing a startup, or a corporate executive with thousands of employees, it’s hard to ignore the evidence of big value from happy employees. The challenge is to find the best way to keep everyone on your team happy and productive. In a similar vein, don’t confuse people presence with productivity.

Product 110

Product News Activity Startup 110

TechCrunch LA

MARCH 17, 2021

The Los Angeles-based company has a new residential solar plus energy storage program for homeowners in Queens that’s going to be rolled out in partnership with ConEd. It’s a project that will create solar-powered home batteries for eligible ConEd customers.

Southern California 237

Southern California Company Companies Glendale 237

Startup Professionals Musings

APRIL 1, 2020

Attracting the right customers is the key to success in business, whether you have a new startup or a mature enterprise. For example, Xerox tried to broaden the use of "xerox" as the standard term for "photocopying" to extend their existing customer segment into office automation and all kinds of computing.

Customer 123

Customer Custom Technical Review Examples 123

Startup Professionals Musings

DECEMBER 24, 2022

I’m convinced that’s why most mature companies are slowing down or buying their innovation through acquisition, rather than building it. True entrepreneurs, like backpackers, are ready to explore new terrain, more open to new possibilities, and don’t get stuck in yesterday’s practices. Reverse the learning role with new team members.

Competition 102

Competition Company Companies Startup 102

Startup Professionals Musings

SEPTEMBER 6, 2020

In my experience in large businesses as well as years of advising startups, I see far too much focus on product skills, and too little on people and process skills. His focus is on sales, but I see the same skills needed for entrepreneurs. Diagnosing and understanding the customer problem. It’s up to you to clear the way.

Entrepreneur 134

Entrepreneur Startup Sales Customer 134

Startup Professionals Musings

MARCH 13, 2021

Once you are able to achieve some real “traction” with your business (paying customers, revenue stream), it may seem the time to relax a bit, but in fact this is the point where many founders start to flounder. The key is to make decisions from data and feedback, once your business has real customers and real products.

Entrepreneur 169

Entrepreneur Startup Coach Mentor 169

Startup Professionals Musings

MAY 5, 2023

Technology is so key to every business these days that experienced business-smart but non-tech entrepreneurs are feeling deeper and deeper in the hole. Only one component of running a business is managing technology, but it is a critical component, so no entrepreneur can afford to ignore it or totally delegate it.

Entrepreneur 104

Entrepreneur Technology High Tech Startup 104

Startup Professionals Musings

AUGUST 18, 2014

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan.

Product 101

Product Entrepreneur Summary Activity 101

Startup Professionals Musings

AUGUST 23, 2020

Entrepreneurs who experience success with their first startup are often amazed to realize that the risks and fears of doing it right the second time go up, rather than down. Encores are tough, especially in the high-risk world of startups, yet every entrepreneur I know can’t wait to start over and do it again. Eat your own dog food.

Entrepreneur 129

Entrepreneur Startup Technical Review Ideas 129

InfoChachkie

JULY 7, 2016

The entrepreneur cannot wait to show me their product via a demo. Most entrepreneurs seem confused by my reaction and often say something like: “VCs love demos. You’re the first one I’ve met who didn’t want to see our product.” Note: I invest almost exclusively in b-to-b software companies. Don’t Demo Me Bro.

Venture Capital 176

Venture Capital Product Software Review Technical Review 176

Startup Professionals Musings

OCTOBER 17, 2020

Entrepreneurs who search for real pain points, and build solutions around them, have the best chance of changing the world. So why do I see some many funding requests for products along these lines? As an alternative, if you are an entrepreneur looking for the next big thing, where should you look? Existing infrastructure.

Customer 167

Customer Custom Startup Outsource Development 167

Startup Professionals Musings

JANUARY 10, 2022

As a long-time mentor and advisor to new business owners, I can attest to both the need for mentoring, and the satisfaction that comes from watching an aspiring but tentative entrepreneur grow into someone capable of changing the world. It’s a win-win situation for everyone in this new age of the entrepreneur. Marty Zwilling.

Mentor 154

Mentor Entrepreneur Satisfaction Summary 154

Startup Professionals Musings

FEBRUARY 6, 2023

Every business professional I know, or have met in my consulting role, has given serious thought to the alternative of switching to the entrepreneur lifestyle , pursuing a long-standing dream, and controlling their own destiny. To survive, you need to find a product-market fit. Product-market fit (PMF) is all about value creation.

Entrepreneur 124

Entrepreneur Ideas Satisfaction Customer 124

Startup Professionals Musings

JANUARY 11, 2020

In my experience working with entrepreneurs, once they feel they have a winning formula for their business, they are often hesitant to change or update it. They forget that adapting their company and themselves as their customers evolve is the key to long-term survival. Remember when you were a startup?

Customer 143

Customer Custom Examples IBM 143