Startup Professionals Musings

JANUARY 8, 2021

Most leaders agree that poor customer service is a business killer today, in terms of lost customers, reduced profits, and low morale. Young entrepreneurs and startups, in particular, often remain naively unfocused, despite their passion, of what it takes to provide the high-quality service expected. Train and coach continuously.

Startup 154

Startup Training Customer Custom 154

Startup Professionals Musings

JUNE 23, 2021

For example, I commonly see metrics to keep track of revenue per employee, overtime, and absenteeism, but I don’t often see measures of overall customer satisfaction with individual employees. Incentives should be a combination of metrics and recognition to highlight results. Incent and reward employees who delight customers.

Customer 147

Customer Custom Technical Review Metrics 147

Startup Professionals Musings

MAY 30, 2022

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. According to one study a decade ago, only 45% of founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics.

Sales 147

Sales Metrics Guide Startup 147

Berkonomics

MAY 20, 2021

Enterprise time, as opposed to personal time management, is the sum total of resources available to a company expressed in terms of time – time to develop, to debug, to produce, to deploy, to respond to issues, and to make changes in plans that are not working. But first, identify what those critical resources are in your company.

Resource 156

Resource Outsource Development Metrics Customer 156

Startup Professionals Musings

JUNE 21, 2013

Most leaders agree that poor customer service is a business killer today, in terms of lost customers, reduced profits, and low morale. Young entrepreneurs and startups, in particular, often remain naively unfocused, despite their passion, of what it takes to provide the high-quality service expected. Train and coach continuously.

Customer 92

Customer Custom Startup Services 92

Startup Professionals Musings

JUNE 20, 2022

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 111

eBook Metrics Examples Startup 111

Startup Professionals Musings

JUNE 18, 2023

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entree for the first time – you need a recipe, even though it may look simple. You need a good cook, good marketing, and first-class service. Have you set the right price for your entree, and correctly included all costs?

Startup 112

Startup Coach Metrics Marketing 112

Both Sides of the Table

MAY 27, 2016

I was speaking recently to the team at NuOrder , an LA-based company we’re an investor in about “realism in startups” — an impromptu talk I have given to any of our portfolio companies who ask. I work with two companies that aim to change education but both are indirectly aiming to do so. Innovator’s Dilemma. Early stage.

Invest 254

Invest Writing Pricing Metrics 254

Startup Professionals Musings

JULY 26, 2021

For larger and mature companies, the hard part seems to be giving up the familiar space that isn’t working so well anymore, so that you can focus on a new segment or opportunity. It’s a tough world even for big-company generalists, who take on the complexities of product diversification. Well-articulated goals and metrics.

Startup 154

Startup Resource Entrepreneur Metrics 154

Startup Professionals Musings

DECEMBER 27, 2019

Incorporate AI-powered data and metrics systems. Their pricing algorithm crawls the Web daily, and adjusts prices to always match the lowest price found anywhere, offline or online. Make your company a ground-breaking invention machine. They help hiring managers raise the bar for every interview.

Marketing 123

Marketing Technical Review Customer Custom 123

Startup Professionals Musings

SEPTEMBER 21, 2020

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entrée for the first time – you need a recipe, even though it may look simple. You need a good cook, good marketing, and first-class service. Have you set the right price for your entree, and correctly included all costs?

Startup 156

Startup Coach Metrics Marketing 156

Startup Professionals Musings

OCTOBER 20, 2023

Networking to build and maintain positive relationships with the right people outside your company is something you can’t forget in the rush to get your new business going. For example, consider Whole Foods , whose focus on healthy foods and a sustainable environment is legendary, even though their prices are often a bit higher.

Marketing 116

Marketing Resource Training Startup 116

Both Sides of the Table

NOVEMBER 14, 2017

An alternate outcome that I also unfortunately observe in some cases are companies who had extreme early success with an initial product adoption but failed in key areas that limited the growth and therefore the ultimate financial outcomes. How profitable is my product or service?

Startup 286

Startup Technical Review Customer Custom 286

Startup Professionals Musings

SEPTEMBER 20, 2019

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

Entrepreneur 93

Entrepreneur eBook Metrics Examples 93

Both Sides of the Table

NOVEMBER 2, 2010

Some objections are real and they end up becoming changes to your product, your service plan or your pricing / bundling. As a founder, when you’ve been dealing with these kinds of objections for a couple of years it becomes natural and you easily handle objections on price, product & competition without much thought.

Sales 289

Sales Startup Training Pricing 289

Startup Professionals Musings

JUNE 2, 2021

As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today. Features, availability, and brand are just the price of entry. Create a team culture for personalized service. You need to be part of a larger ecosystem.

Competition 142

Competition Software Review Social Media Customer 142

Startup Professionals Musings

SEPTEMBER 1, 2019

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. According to one study a while back, only 45% of founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics.

Startup 97

Startup Sales Metrics Guide 97

Berkonomics

NOVEMBER 6, 2014

Enterprise time, as opposed to personal time management, is defined as the sum total of resources available to a company expressed in terms of time – time to develop, to debug, to produce, to deploy, to respond to issues, and to make changes in plans that are not working. Extending the Runway book available at www.berkus.com.

Resource 176

Resource Outsource Development Metrics Customer 176

Both Sides of the Table

OCTOBER 10, 2011

Netflix as a service has always prided itself on movie recommendations that are tailored specifically to you plus user ratings on the quality of films. The big price increase : 5 out of 5 stars. Some customer segments value the DVD business and these may be more price sensitive. They are potentially different business models.

Netflix 287

Netflix Customer Custom Pricing 287

Startup Professionals Musings

AUGUST 7, 2020

In the short term you need customers to find you at any price, and in the longer term you need revenue, profit, and return loyalty. Even a million users on your social media site won’t pay the bills until you sell some advertising or a premium service. Cote, former Chairman and CEO of Honeywell.

Technical Review 124

Technical Review Layoffs Social Media Metrics 124

Startup Professionals Musings

MARCH 4, 2019

These days, a fun shopping experience, or no-question returns, often tips the scales over extra product features or a lower price. Stepping aside from pure lifetime value concerns, customer retention is also the best way to measure how successfully your company is providing its solution.

Customer 85

Customer Custom Product Metrics 85

Tech Zulu Event

JANUARY 30, 2012

Months of submissions and the amazing help from our judges , the Spotlight is shinning down on awesome companies that were born right out of Southern California. And now without further ado I present the Spotlight: LA Tech Winter Companies: Spotlight Companies. Bill serves on the boards of directors of numerous companies.

CalTech 91

CalTech Company Companies Idealab 91

Both Sides of the Table

MAY 2, 2015

What I love about my job is getting to see teams of super-early-stage companies develop ideas that while raw have potential to make an impact on the market. Clearly the founders and senior executives of a company are the most valuable resources and their time should be maximized on the most valuable tasks. Budgeting & Planning.

Outsource Development 150

Outsource Development Metrics Startup Sales 150

Startup Professionals Musings

DECEMBER 31, 2012

Most then add customer service at the rollout, but very few really understand what it means to be truly customer centric, and even fewer really achieve it. Customer centricity is far more than providing excellent customer service, although that’s a step in the right direction.

Customer 90

Customer Custom Startup Pricing 90

Startup Professionals Musings

MARCH 18, 2015

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

Entrepreneur 106

Entrepreneur eBook Metrics Startup 106

Startup Professionals Musings

FEBRUARY 4, 2015

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. According to one study a while back, only 45% of founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics.

Startup 108

Startup Sales Metrics Entrepreneur 108

Startup Professionals Musings

DECEMBER 8, 2018

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entrée for the first time – you need a recipe, even though it may look simple. You need a good cook, good marketing, and first-class service. Have you set the right price for your entrée, and correctly included all costs?

Startup 81

Startup Coach Metrics Marketing 81

Both Sides of the Table

MARCH 25, 2016

It turns out that to build a successful company you ultimately need this strange thing called “revenue” that people don’t just hand you: You need to earn it. Most of this advice boils down to an argument in favor of basic planning before starting a company or raising money. MakeSpace provides physical storage.

Startup 150

Startup Marketing Study SEO 150

Startup Professionals Musings

DECEMBER 15, 2013

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 95

eBook Metrics Startup Examples 95

Startup Professionals Musings

OCTOBER 8, 2017

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 52

eBook Metrics Examples Startup 52

Startup Professionals Musings

SEPTEMBER 13, 2017

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. According to one study a while back, only 45% of founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics.

Startup 56

Startup Sales Metrics Guide 56

Startup Professionals Musings

NOVEMBER 4, 2016

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entrée for the first time – you need a recipe, even though it may look simple. You need a good cook, good marketing, and first-class service. Have you set the right price for your entrée, and correctly included all costs?

Entrepreneur 93

Entrepreneur Startup Coach Metrics 93

Startup Professionals Musings

NOVEMBER 3, 2013

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. According to one study , only 45% of Founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics.

Sales 96

Sales Metrics Startup Entrepreneur 96

Startup Professionals Musings

JANUARY 25, 2016

The days of pushing new and marginal performers into customer service are gone. A mission of superior customer service is more than words in the board room or words in front of customers. It must be written down, with measurable team objectives, validated by metrics and compared against competition.

Customer 55

Customer Custom Startup Coach 55

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. Exploit your product and service differences. You must be able to highlight these differences between your products and services, and those of your competitors.

Customer 85

Customer Custom Product Marketing 85

Both Sides of the Table

SEPTEMBER 27, 2010

We need venture debt, factoring companies and public markets. You have an open source stack, cloud services for storage, processing & management and APIs for just about anything you want. You have an open source stack, cloud services for storage, processing & management and APIs for just about anything you want.

Venture Capital 308

Venture Capital Training Startup Entrepreneur 308

Both Sides of the Table

JULY 16, 2013

The minute you try to monetize now they have metrics with which to beat you up and say you’re business has limitations.” The company with no revenue and a $150k burn rate that raised $2.5 And I only know one reason companies go out of business – they run out of money. You’re out of money.

Venture Capital 412

Venture Capital Startup Funding Snapchat 412