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4 Key Components Of Every New Business Financial Plan

Startup Professionals Musings

External investors will demand a financial forecast, but it’s equally valuable to you, even if bootstrapping. Projecting financials is a natural extension of the homework every entrepreneur needs to do on customer opportunity size, product costs, pricing, competition and customer value. Forecast sales-volume expectations.

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4 Simple Steps Will Get Startup Financial Projections

Startup Professionals Musings

External investors will demand a financial forecast, but it’s equally valuable to you, even if bootstrapping. There is no black magic involved in predicting the future, if you use these four simple steps, with my basic rules of thumb to keep you on the right track: Determine your margin on sales. Forecast sales-volume expectations.

Startup 147
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Should Startups Focus on Profitability or Not?

Both Sides of the Table

The most obvious way to explain this is with sales people. If you hire 6 sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business for 4-6 months. “COGS” represents the amount that each sale costs you.

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Interview with Robin Richards, CareerArc

socalTECH

I think, to be a great entrepreneur, you have to look at what is missing in the category that you will be playing in the industry, and figure what you can deploy with a little bit of strategy and technology to bring a better service and price. People were not just going to Google, they were looking all over the place.

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Understanding How The Innovator’s Dilemma Affects You

Both Sides of the Table

This is important because the customers they serve (the red line) demand a product that meets their complex requirements. First, over time Salesforce.com’s technology got better and better yet the price didn’t shoot up dramatically relative to Siebel. They are radically lower in price. So what did happen?

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Entrepreneur Business Forecasts Are Not Black Magic

Startup Professionals Musings

External investors will demand a financial forecast, but it’s equally valuable to you, even if bootstrapping. There is no black magic involved in predicting the future, if you use these four simple steps, with my basic rules of thumb to keep you on the right track: Determine your margin on sales. Forecast sales-volume expectations.

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The Fallacy of Channels: Startups Beware

Both Sides of the Table

This is part of my ongoing series on startup advice but also filed under my sales & marketing posts. The only problem is that you can’t afford all of these expensive direct sales reps to go and sell it. Sort of amortizing the costs of their sales reps over more products. You decide to go out and hire a sales rep.

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