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8 Strategies For Sustaining Momentum In Your Startup

Startup Professionals Musings

Unfortunately, with limited resources, this isn’t possible, and it frustrates customers and the team. It’s important to define your growth strategy, document it, communicate it to your team, and align metrics and employee rewards to target goals. Utilize outside expertise and mentoring.

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5 Keys To An Unbeatable Solution For Your New Startup

Startup Professionals Musings

In my role as advisor and mentor to many new entrepreneurs, I often find myself suggesting that they think bigger. For example, I’m not sure the world needs one more social media niche site, or another dating site, or yet another flavored drink alternative. Use your passion to get there, not to set the goals.

Startup 162
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6 Marketing Accelerators For Boosting Business Growth

Startup Professionals Musings

For example, many investors I know tell me they look for business plans that allocate the largest portion of a requested investment to marketing, but most often see the top “ use of funds ” to be further product or service development. Allocate resources to handle bumps along the way.

Marketing 133
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7 Strategies To Solve Your Business Problems Faster

Startup Professionals Musings

In my own business career, many years as a business advisor, and mentor to aspiring entrepreneurs, I have validated the following strategies to practice and guide you. For example, your quality problem may well have both design as well as manufacturing elements. Search for the multiple dimensions of a problem.

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6 Ways To Improve Your Odds Of New Business Success

Startup Professionals Musings

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. For example, I believe Bill Gates would have failed without his partners Steve Ballmer and Paul Allen.

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5 Keys To A Viable Spending Rate And Cash Management

Startup Professionals Musings

Cash flow is a basic survival metric for every startup. As a mentor to many entrepreneurs and startups, here are my best recommendations for keeping the burn rate low, planning ahead and maintaining credibility with investors: Manage cash flow personally every day. Buffer your projected resource requirements.

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6 Hard Questions That Every Entrepreneur Must Answer

Startup Professionals Musings

As a mentor to many aspiring entrepreneurs, I challenge them to think beyond what I call linear extensions to a current trend, such as another “easier-to-use” app for smartphones, a new dating site for pets, or another niche social network. Examples I have seen include atomic battery technology, or how marine algae could help feed the world.