Berkonomics

NOVEMBER 25, 2021

Of course, there are external risks that cannot be controlled or predicted but can be planned for as well – natural disasters, sudden political or economic events that rattle the entire economy, and more. Market risk is constant and should be of greatest concern to any executive or entrepreneur. Fourth is competitive risk.

Competition 156

Competition Marketing Class Product 156

Startup Professionals Musings

FEBRUARY 14, 2021

In their passion and excitement about a new product or service, entrepreneurs tend to continually narrow the scope of potential competitors, and often claim to have no direct competitors. Competition for your new hydrogen fuel auto engine is not limited to other hydrogen auto engine offerings, or even other autos.

Competition 166

Competition Funding Startup Patents 166

Startup Professionals Musings

AUGUST 14, 2014

In their passion and excitement about a new product or service, entrepreneurs tend to continually narrow the scope of potential competitors, and often claim to have no direct competitors. Competition for your new hydrogen fuel auto engine is not limited to other hydrogen auto engine offerings, or even other autos.

Competition 93

Competition Startup Patents Slides 93

Startup Professionals Musings

SEPTEMBER 4, 2019

It really is possible for an introvert to succeed as an entrepreneur, even though you can’t expect to start and build a business alone. You need to build business relationships with partners, team members, investors, and of course customers. Actively expand your business networking activities.

Entrepreneur 104

Entrepreneur Mentor Activity Startup 104

Startup Professionals Musings

JULY 30, 2021

The recent pandemic was a strong signal for change, and I see most of you entrepreneurs and business owners responding to the business changes required and new opportunities presented. Here are some key strategies that I recommend to prompt you when changes to your business may be required: Look for a changing customer sense of value.

Marketing 162

Marketing Social Media Metrics Customer 162

Startup Professionals Musings

JULY 2, 2022

Serious entrepreneurs know that, but too many “wannabes” still fall for that elusive get-rich-quick scheme with no risk. As an active angel investor, I still hear entrepreneurs asserting large opportunities with minimal risk and no competition. Outside of dreams, there is no real business opportunity without risk.

Entrepreneur 153

Entrepreneur Marketing Customer Custom 153

Startup Professionals Musings

MAY 16, 2020

Many experts are certain that successful entrepreneurs are the ones with the most inspiration (passion and dream), while others will assert that it’s about more perspiration (working harder). Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer. In my experience, both are always required in heavy doses.

Satisfaction 174

Satisfaction Customer Custom Outsource 174

Startup Professionals Musings

OCTOBER 3, 2021

The biggest challenge for every entrepreneur and every startup today is to get noticed and remembered in today’s information overload. The number of entrepreneurs worldwide is huge, starting an estimated 50 million new businesses per year, or 137,000 per day. Stories relay events, and these events have to happen somewhere.

Startup 125

Startup Technical Review Entrepreneur Customer 125

Startup Professionals Musings

JULY 24, 2023

We all face pressure in our lives, but there’s nothing like that of an entrepreneur facing customer crises and the competitive challenges of a new business. Thus, here is my own reframing of the authors generalized rules into some specifics for an entrepreneur or business leader: Reframe competitive threats to opportunities.

Entrepreneur 82

Entrepreneur Competition Press Commerce 82

Startup Professionals Musings

JULY 19, 2021

To build a startup, entrepreneurs need a laser focus on providing an innovative solution to a real problem. Most entrepreneurs dream of achieving the exponential expansion of a Google or Amazon, but few investor pitches I see outline any strategy beyond simple marketing to make this happen. Incent friendly competition with prizes.

Search Engine Optimization 158

Search Engine Optimization Artificial Inteligence Organization Social Media 158

Berkonomics

AUGUST 3, 2023

Some businesses require very little capital and the founder can self-finance the enterprise and retain 100% of its ownership and control from ignition through liquidity event (startup through sale). And even with the significant cost of credit card debt, many entrepreneurs aggressively use existing cards to finance a startup.

Venture Capital 295

Venture Capital Startup Class Invest 295

Berkonomics

OCTOBER 28, 2021

This insight is like a Hans Christian Anderson parable, but aimed at you and your business… There are big fish and small fish, potential customers, all swimming in the sea that is your potential marketplace. Is this a problem or an opportunity? You, the lonely fisherman, must weave a net to catch your fish. TAM, SAM & SOM?

.Net 156

.Net Statistics Marketing Research 156

Startup Professionals Musings

JANUARY 13, 2014

So what can you do to expedite this event, or even improve the odds that it will happen at all? Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure the rate of sales ramps up quickly enough to keep the business alive and growing. That should be you. Marty Zwilling.

Sales 99

Sales Customer Custom Entrepreneur 99

Startup Professionals Musings

FEBRUARY 10, 2023

Struggling entrepreneurs are often so happy to get a funding offer that they neglect the recommended reverse due diligence on the investors. Investor due diligence on a startup is not a mysterious black art, but is nothing more than a final integrity check on all aspects of your business model, team, product, customers, and plan.

Technical Review 138

Technical Review Startup Innocal Offshore 138

Startup Professionals Musings

AUGUST 30, 2015

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 101

Customer Custom Startup Course 101

Startup Professionals Musings

SEPTEMBER 20, 2019

New unmet consumer or customer needs. Broad disruptive events. Look hard for unanticipated consequences of events like new government regulations on financial processes, changes in environmental patterns, or sociological changes in other countries. Probing the possible issues to fully understand what is happening.

Entrepreneur 93

Entrepreneur eBook Metrics Examples 93

Startup Professionals Musings

MARCH 30, 2015

Serious entrepreneurs know that, but too many “wannabes” still fall for that elusive get-rich-quick scheme with no risk. As an active Angel investor, I still hear entrepreneurs asserting large opportunities with minimal risk and no competition. Outside of dreams, there is no real business opportunity without risk.

Entrepreneur 103

Entrepreneur Startup Marketing Customer 103

Startup Professionals Musings

NOVEMBER 7, 2020

We all face pressure in our lives, but there’s nothing like that of an entrepreneur facing customer crises and the competitive challenges of a new business. Thus, here is my own reframing of the authors generalized rules into some specifics for an entrepreneur or business leader: Reframe competitive threats to opportunities.

Startup 134

Startup Entrepreneur Competition Press 134

Startup Professionals Musings

FEBRUARY 12, 2018

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 52

Customer Custom Startup Course 52

Startup Professionals Musings

MARCH 3, 2021

Based on my own years of experience in startups and big business, and more recently as an angel investor, I often cringe when I see one of you entrepreneurs missing a cue that I have seen work for many before you. A passionate entrepreneur I met a while back had found that a certain algae could be grown cheaply, and could end world hunger.

Entrepreneur 162

Entrepreneur Social Media Examples Metrics 162

Startup Professionals Musings

JUNE 18, 2022

A popular approach for aspiring entrepreneurs these days seems to be to corner anyone who will listen, with a pitch on their current “million dollar idea.” The result is that ideas are no longer in short supply, and no longer a differentiator in competition. But not every entrepreneur has to be a visionary. Radiate charisma.

Ideas 149

Ideas Startup Entrepreneur Resource 149

Startup Professionals Musings

OCTOBER 28, 2011

Most of the entrepreneurs I know realize they have some bad habits, like maybe procrastination or not listening well, so they focus on dropping these. I recommend the following six techniques for solidifying good habits from “ The Compound Effect ,” by successful entrepreneur and writer Darren Hardy: Set yourself up to succeed.

Entrepreneur 105

Entrepreneur Competition Examples Study 105

Tech Zulu Event

APRIL 23, 2013

amSTATZ is an online community that brings fitness professionals, athletes and fitness events together into one place. Founded in the summer of 2011 and their first product out a few weeks ago amSTATS wants to help users to follow fitness events and programs near them and find a great fitness trainer to help them stay fit.

Social Network 92

Social Network Networking Training Summary 92

Both Sides of the Table

OCTOBER 26, 2020

leadership, mentorship, competitiveness, communications, relationship-building?—?and So mostly we just had to listen to customer feedback from founders, VCs and LPs. Marketing, recruiting, building data products & tools, event management, analyzing the portfolio, etc. And all the platform stuff. I’m only 52!

Venture Capital 361

Venture Capital Startup Invest CitySearch 361

Startup Professionals Musings

DECEMBER 15, 2021

As a long-time business advisor and mentor to entrepreneurs, I’ve always been impressed with the few who seem to always come out ahead, no matter what the challenge. Whether you are a professional in a team role, or an entrepreneur looking for a new startup, you never get anywhere unless you take a chance.

Education 148

Education Mentor Customer Custom 148

Startup Professionals Musings

NOVEMBER 23, 2012

So what can you do to expedite this event, or even improve the odds that it will happen at all? Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing. Sell what you have, not what you dream.

Sales 96

Sales Customer Custom Pricing 96

Startup Professionals Musings

APRIL 12, 2020

As an entrepreneur mentor and startup investor, I see with sadness the 50 to 90 percent that fail. This fallacy, often called historical myopia, essentially involves extrapolating only from recent positive events, and ignoring the reality that markets saturate or evaporate. Extrapolating you as the target customer.

Startup 124

Startup Netflix Social Media Customer 124

Startup Professionals Musings

OCTOBER 1, 2017

A popular approach for aspiring entrepreneurs these days seems to be to corner anyone who will listen, with a pitch on their current “million dollar idea.” The result is that ideas are no longer in short supply, and no longer a differentiator in competition. But not every entrepreneur has to be a visionary. Radiate charisma.

Entrepreneur 67

Entrepreneur Ideas Startup Resource 67

Startup Professionals Musings

DECEMBER 14, 2014

Most entrepreneurs struggle with many startup Founders dilemmas in building their business, and these key dilemmas are probably the biggest source of pain and failure for the entrepreneur lifestyle. Not facing these dilemmas squarely and honestly is one of the biggest pitfalls facing every entrepreneur. Marty Zwilling.

Entrepreneur 107

Entrepreneur Statistics Equity Satisfaction 107

Startup Professionals Musings

JUNE 9, 2023

Many business owners and professionals I know claim they are too busy in their jobs and not interested in taking part in any networking events. For example, if you are an entrepreneur seeking investment or a cofounder, there is no substitute for networking at industry and startup conferences in your area.

Networking 104

Networking Mentor Conference Summary 104

Startup Professionals Musings

MAY 15, 2020

What I want to hear is an innovative marketing and growth strategy that will set you apart in the minds of investors, as well as customers. Today’s customer is especially attracted to companies like TOMS , who donates a pair of shoes for every pair they sell, or Patagonia, with its support for grassroots environmental groups.

Marketing 170

Marketing Startup Examples Customer 170

Startup Professionals Musings

JANUARY 11, 2014

The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. How good are you and everyone on your team at proactively scanning the environment for opportunities, emerging trends, and customer feedback?

Entrepreneur 110

Entrepreneur Startup Training Statistics 110

Startup Professionals Musings

AUGUST 29, 2011

Other writers, like Guy Kawasaki, have irreverently called some of these “entrepreneur lies,” but I prefer to think of them as innocent over-enthusiasm or over-confidence that can kill your deal. It always amazes me how an entrepreneur can define his market opportunity so broadly, then assess his competition so narrowly in the next breath.

Entrepreneur 108

Entrepreneur Funding Innocal Competition 108

Startup Professionals Musings

MARCH 2, 2016

To build a startup, entrepreneurs need a laser focus on providing an innovative solution to a real problem. Most entrepreneurs dream of achieving the exponential expansion of a Google or Amazon, but few investor pitches I see outline any strategy beyond simple marketing to make this happen. Incent friendly competition with prizes.

Entrepreneur 55

Entrepreneur Search Engine Optimization Artificial Inteligence Organization 55

Startup Professionals Musings

SEPTEMBER 4, 2011

So what can you do to expedite this event, or even improve the odds that it will happen at all? Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing. Sell what you have, not what you dream.

Sales 97

Sales Customer Custom Pricing 97

Startup Professionals Musings

MARCH 18, 2015

New unmet consumer or customer needs. Broad disruptive events. Look hard for unanticipated consequences of events like new government regulations on financial processes, changes in environmental patterns, or sociological changes in other countries. business entrepreneurs Loc de Brabandere startup weak signals'

Entrepreneur 106

Entrepreneur eBook Metrics Startup 106

Startup Professionals Musings

SEPTEMBER 30, 2013

Every investor expects to see some business traction, both before and after a funding event. I hear a lot of entrepreneurs contemplating their great “idea” for several years with little discernable progress, and looking for money to start. Get a real customer and real revenue. Traction means forward progress.

Funding 112

Funding Entrepreneur Startup CTO Hire 112