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6 Key Rules To Stay Competitive In The Digital World

Startup Professionals Musings

In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global. 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.

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Search Engine Ranking Can Make Or Break Your Business

Startup Professionals Musings

Probably every one of you who has a business and a website have been approached through email or personal contact, and asked to spend money on paid search results (appear on the first page of search results, despite low SEO rank). If you sell widgets, and a user is searching for widgets, your ad will appear on the first page.

PPC 154
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5 Tips For Startups Looking For A Great Solution Idea

Startup Professionals Musings

Equally often, I see startups who are on the road to implementing an idea, but haven’t figured out what problem it solves – the business plan waxes on eloquently for 20 pages about how great this product and technology is, but never gets around to defining the problem (investors call this the “solution looking for a problem” syndrome).

Ideas 145
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Real Sustainable Competitive Advantages are Rare

Startup Professionals Musings

One of the most important questions you will be asked by potential investors is how your solutions beats the competition, not just today, but over the three to five year life of their investment. The concept is called “sustainable competitive advantage.” That implies competitive now, and the potential to stay in the lead.

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10 Quotes You Should Never Use Around A Business Plan

Startup Professionals Musings

The first page of the business plan better be an executive summary which gives the investor a taste of the financials, as well as opportunity, competition, and key executives. “I Investors are buying part of the business, not the product or service. Too much detail at first contact is just as much of a turnoff as no information.

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I Haven’t Seen A Startup Yet Thrive Without Marketing

Startup Professionals Musings

The founder explains that the product or service is so “buzz-worthy” that the merits will spread rapidly through word-of-mouth only, meaning people loving it and recommending it to their friends. It usually implies an opportunity to win big, like a lottery, or experience something sensational, like an incredible video or free product.

Marketing 139
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4 Keys To A Successful Integrity Check With Investors

Startup Professionals Musings

Here investors are looking for feature problems or quality issues on the current product. A hard look will be taken at the technology maturity, the current development progress, and customer satisfaction with early product shipments. Status of the solution. In addition, manufacturing and inventory levels will be reviewed.