Startup Professionals Musings

SEPTEMBER 11, 2021

Almost every early-stage startup who has approached investors for funding has heard the innocuous sounding rejection “I love your idea, but come back when you have more traction.” As an investor, I would like to see one month of sales, and see how that compares to your projections. Average transaction size and revenue per customer.

Startup 121

Startup Metrics Customer Custom 121

Startup Professionals Musings

OCTOBER 31, 2022

This early stage is often called the idea stage, best populated by people who see the need for change early, or always have a vision for unmet opportunities, or a better way to do things. Idea people often don’t get funded as entrepreneurs, because a new business is all about results, not just ideas.

Activity 108

Activity Satisfaction Metrics Startup 108

Startup Professionals Musings

MARCH 10, 2023

I still see entrepreneurs who spend money and time for months on a new business idea without any separation of personal and business funds, and any formal accounting system for their new business. Productivity and repeatability is the hallmark of a good business, whereas a hobby usually assumes everything is custom built and personal.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

JANUARY 11, 2023

I agree with the classic book by Ros Taylor, “ Creativity at Work: Supercharge Your Brain and Make Your Ideas Stick ,” which outlines some key psychological impediments to creative business thinking and change: Just use the data metrics. Creative ideas are the outliers, and tend to be eliminated first, rather than evaluated fully.

Marketing 119

Marketing Metrics Demand Statistics 119

Startup Professionals Musings

FEBRUARY 13, 2021

I’m convinced that this “me too” or incremental thinking is one of the key reasons that ninety percent of new startups fail, and most of the investors I know won’t sign non-disclosure forms, since they claim to hear the same startup ideas over and over again. Marketing should begin even at the idea stage.

Startup 162

Startup Metrics Ideas Entrepreneur 162

Startup Professionals Musings

MAY 15, 2016

In my experience with entrepreneurs, there seems to a wealth of self-proclaimed “idea people” who aspire to start businesses, but only a few who are willing and able to dig in and get the job done. All the great ideas in the world won’t make a business, if the ideas never get implemented.

Ideas 53

Ideas Startup IBM IBM 53

Both Sides of the Table

JULY 21, 2014

It’s when the noise stops and you can actually get customer attention, press articles and VC meetings. People attending marquee conferences with rock bands, prominent speakers, Gartner Group prognosticators and lots of other happy customers. Your favorite investor told you this was a bad idea. ROI studies were published.

Marketing 354

Marketing Case Study Metrics Sales 354

Startup Professionals Musings

APRIL 18, 2020

I agree with the classic book by Ros Taylor, “ Creativity at Work: Supercharge Your Brain and Make Your Ideas Stick ,” which outlines some key psychological impediments to creative business thinking and change: Just use the data metrics. Creative ideas are the outliers, and tend to be eliminated first, rather than evaluated fully.

Metrics 157

Metrics Demand Statistics Sales 157

Startup Professionals Musings

JULY 22, 2013

Most struggle with the idea and practice of marketing and sales, and see these as a necessary evil, if even required. A great resource for all is a new book by Drew Williams and Jonathan Verney, “ Feed the Startup Beast: A 7-Step Guide to Big, Hairy, Outrageous Sales Growth.” Nurture customers and influencers into real fans.

Sales 105

Sales Startup Metrics Customer 105

Startup Professionals Musings

AUGUST 27, 2023

Everyone in the company must adopt the principles of customer-first focus, agility in responding to change, and constant innovation to improve your processes as well as the solution. Measure progress through metrics on sales, revenue, and penetration. Seek customer feedback on ways to improve value and satisfaction.

Customer 91

Customer Custom Marketing Startup 91

Both Sides of the Table

OCTOBER 10, 2011

The remainder of this article will deal with this decision but it comes down to the different economics of DVD rentals due to “ the first sale doctrine ” which gives Netflix a complete library of films and the fact that the first-sale doctrine doesn’t apply to digital downloads. ” customer segment.

Netflix 287

Netflix Customer Custom Pricing 287

Startup Professionals Musings

JUNE 7, 2020

I still see entrepreneurs who spend money and time for months on a new business idea without any separation of personal and business funds, and any formal accounting system for their new business. Productivity and repeatability is the hallmark of a good business, whereas a hobby usually assumes everything is custom built and personal.

Entrepreneur 131

Entrepreneur Outsource Development Startup Competition 131

Startup Professionals Musings

MAY 28, 2016

I still see entrepreneurs who spend money and time for months on a new business idea without any separation of personal and business funds, and any formal accounting system for their new business. Productivity and repeatability is the hallmark of a good business, whereas a hobby usually assumes everything is custom built and personal.

Ideas 62

Ideas Outsource Development Startup Competition 62

Startup Professionals Musings

OCTOBER 13, 2021

For example, a few years ago, the company Beepi had a vision to build a new market for buying and selling used cars, but became overly focused on fundraising to grow fast, and ignored many customer complaints. While the idea was great, they failed on execution. Obsessive sales – must meet revenue goals.

Metrics 133

Metrics Product Yahoo Examples 133

Startup Professionals Musings

SEPTEMBER 22, 2021

Unfortunately, most of us don’t have enough resources to bootstrap our own startups, so we are completely dependent on investors to help turn great ideas into great businesses. Investors love entrepreneurs who come across as constantly on the lookout for new ideas, and able to grasp the larger implications for market change.

Ideas 140

Ideas Entrepreneur Equity Resource 140

Startup Professionals Musings

OCTOBER 18, 2023

Although many won’t admit it, true entrepreneurs can’t wait to exit their current startup, and build a new and better one with their next great idea. New startup founders keep all the operating metrics they need in their head. Mature your business processes and customer base. Once an entrepreneur, always an entrepreneur.

Startup 99

Startup Entrepreneur Metrics Acquisition 99

Startup Professionals Musings

JUNE 18, 2023

If you can’t identify customer interest, it doesn’t matter how good your product is. investors invest in people, not ideas) Effective and timely go-to-market. Don’t be afraid to test your ultimate entree on customers. Have you projected sales and marketing costs, cash flow, and capital requirements? Don’t stand still.

Startup 112

Startup Coach Metrics Marketing 112

Startup Professionals Musings

SEPTEMBER 30, 2023

As a business advisor, I meet many business professionals and aspiring entrepreneurs who are anxious to be their own boss , or have an innovative idea to start or acquire a new business. He also still gets excited to donate one percent of sales to environmental groups around the world. Document and communicate a solid business plan.

Startup 94

Startup Ideas Metrics Entrepreneur 94

Startup Professionals Musings

AUGUST 13, 2022

I still have to tell some entrepreneurs that even with the best idea, they have to move to Silicon Valley to find the investors they need, or they need to move to the U.S. Having a great idea in the wrong place won’t get you the funding you need, the experienced domain experts you want, or the pilot market results you need for survival.

Technical Review 123

Technical Review Oracle Software Review Ideas 123

Startup Professionals Musings

NOVEMBER 4, 2019

As a new business advisor and occasional investor, I get approached regularly by people who have a dream or a new business idea, and are looking for support and money to make it a reality. Thus, I’m more impressed with entrepreneurs who ask me to review their implementation plan, rather than listen again to their idea.

Ideas 94

Ideas Slides Technical Review Patents 94

Startup Professionals Musings

JUNE 1, 2022

Winning business owners really listen and act on feedback from customers and advisors. Technology, competitors, and customers are changing every day, so the “ tried and trusted ” ways you do things need to be reviewed and updated regularly. Don’t be totally driven by a key customer. Listening to customers also helps.

Technical Review 120

Technical Review Customer Custom Social Media 120

Startup Professionals Musings

JANUARY 9, 2021

Although many won’t admit it, true entrepreneurs can’t wait to exit their current startup, and build a new and better one with their next great idea. New startup founders keep all the operating metrics they need in their head. Mature your business processes and customer base. Once an entrepreneur, always an entrepreneur.

Startup 173

Startup Entrepreneur Metrics Acquisition 173

socalTECH

DECEMBER 20, 2017

In the meantime, we’ll continue publishing thoughts and ideas we’ve learned from great product managers here. At long last, product managers could collect feature ideas from users at scale. At long last, product managers could collect feature ideas from users at scale. from sales to marketing, product, to ops and finance?—?centers

Technical Review 100

Technical Review Metrics Ideas Product 100

Tech Zulu Event

NOVEMBER 28, 2011

And NOT even because they give until death refunds if a customer is ever dissatisfied with a purchase. I am a raving fan of AppSumo because the creator of the brand, Noah Kagan , leads his company focusing on community first and sales second. He says he cares most about “focusing on customers for life”.

Metrics 87

Metrics Email Startup Technical Review 87

Startup Professionals Musings

AUGUST 18, 2018

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Innovative technologies have no value until they are turned into solutions to real customer problems. Idea management. Build and manage a pipeline of ideas.

Entrepreneur 64

Entrepreneur Coach Metrics Competition 64

Startup Professionals Musings

SEPTEMBER 21, 2020

If you can’t identify customer interest, it doesn’t matter how good your product is. investors invest in people, not ideas) Effective and timely go-to-market. Don’t be afraid to test your ultimate entree on customers. Have you projected sales and marketing costs, cash flow, and capital requirements? Don’t stand still.

Startup 156

Startup Coach Metrics Marketing 156

Both Sides of the Table

SEPTEMBER 10, 2021

However, to be a great VC you have to hold two conflicting ideas in your head at the same time. They might be ideas they hatch internally (via a Foundry) or a founder who just left SpaceX and raises money to search for an idea. On the one hand, you’re over paying for every investment and valuations aren’t rational.

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Startup Professionals Musings

FEBRUARY 5, 2020

Funding is depleted before customer sales ramp up. One of the pitfalls of optimism is the expectation for early customer growth, and understating the real costs of design, development, and inventory. Don’t underestimate your own value as customers arrive, establishing a line of credit, and borrowing against inventory.

Startup 131

Startup Entrepreneur Examples Customer 131

Startup Professionals Musings

AUGUST 12, 2015

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Innovative technologies have no value until they are turned into solutions to real customer problems. Idea management. Set milestones and meet them.

Entrepreneur 101

Entrepreneur Startup Coach Metrics 101

InfoChachkie

SEPTEMBER 29, 2014

Sometimes we measure things and see that in the short term they actually hurt sales. But we do it anyway, because we believe that the short-term metrics probably aren''t indicative of the long term.”. Yet, like container shipping tycoon Malcom McLean , Bezos felt that his idea was so “obvious and compelling,” he had to take the leap.

Tips 223

Tips Framework Metrics Cloud Computing 223

InfoChachkie

MARCH 9, 2019

Successful serial entrepreneurs know that their relationships are valuable assets worthy of careful nurturing – employees, investors, customers and suppliers are loyal to entrepreneurs they trust and trust is built on honesty and integrity. Measure What Matters – The McDonald brothers were dogmatic about tracking metrics.

Startup 100

Startup Netflix Entrepreneur Metrics 100

Startup Professionals Musings

APRIL 28, 2021

Almost every entrepreneur and new business owner I mentor is certain that his/her idea has a very high probability of success, and all find it hard to believe that ninety percent of startups ultimately fail. Look for validation from your mainstream customers.

Technical Review 131

Technical Review Case Study Mentor Software Review 131

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. It freed up Ophir to grow out our sales organization, to work more closely with agencies, to innovate on product and to raise capital. A great CFO will help you plan that.

Outsource Development 150

Outsource Development Metrics Startup Sales 150

Startup Professionals Musings

AUGUST 14, 2016

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Innovative technologies have no value until they are turned into solutions to real customer problems. Idea management. Build and manage a pipeline of ideas.

Coach 64

Coach Metrics Competition Ideas 64

Startup Professionals Musings

DECEMBER 27, 2019

My simple answer is that they keep their focus on customers, rather than technology. Jeff Bezos has kept his focus on customers. In my view, every startup in today’s world would do well to adopt a management system with the same key objectives: Start with a customer-obsessed business model.

Marketing 123

Marketing Technical Review Customer Custom 123

Startup Professionals Musings

OCTOBER 8, 2018

As a long-time advisor to entrepreneurs and business owners, I rarely find someone who doesn’t proclaim that the business world is changing rapidly, with new technology, new customer expectations, and new cultures. Others still routinely have phone hold queues for customer contact that can last up to an hour, with no alternative options.

Technical Review 84

Technical Review Customer Custom Startup 84

InfoChachkie

JANUARY 16, 2018

The problem is that stakeholders, like marketing and sales, don’t know what the latest version of the roadmap is. Greathouse: Having run these groups, I know all about the inherent friction between sales and marketing with regard to lead quality, volume, etc., Greathouse: How did you come up with the idea for ProductPlan?

Venture Capital 115

Venture Capital Entrepreneur Santa Barbara SaaS 115