Startup Professionals Musings

DECEMBER 27, 2019

Every new business dreams of growing from a startup to a global market leader in a few years, like Amazon.com, but that goal is elusive. Incorporate AI-powered data and metrics systems. Their pricing algorithm crawls the Web daily, and adjusts prices to always match the lowest price found anywhere, offline or online.

Marketing 123

Marketing Technical Review Customer Custom 123

Startup Professionals Musings

NOVEMBER 14, 2012

What I’m talking about here is a level of discipline and skill necessary to collect and analyze the relevant business data, known as metrics. Here is my selection of ten key metrics that every six-sigma joint like GE tracks without thinking, but too many small businesses only monitor haphazardly, if at all: Sales revenue.

Metrics 106

Metrics Startup Sales Statistics 106

InfoChachkie

NOVEMBER 5, 2012

However, many people are not aware that prior to entering academia, Steve was a wily and creative marketing entrepreneur. As the VP of Marketing, Steve inherited a department of 14people that was burning $4M annually. Despite these abundant resources, the team's ineffectiveness was reflected by the company's dismal 11% market share.

Marketing 271

Marketing Startup Sales Customer 271

Startup Professionals Musings

SEPTEMBER 11, 2021

Traction is evidence that your product or service has started that “hockey- stick” adoption rate which implies a large market, a valid business model, and sustainable growth. Market penetration. Let me try to clarify the rules, and what it takes to win at this game. First of all, a definition. Customer acquisition cost.

Startup 121

Startup Metrics Customer Custom 121

Startup Professionals Musings

JUNE 18, 2023

For a new business, you can provide unique ingredients, but the preparation steps in your business plan must follow a tried and true recipe for startup success: Identify a market with a real need. You need a good cook, good marketing, and first-class service. time-to-market is critical) Viable financial model.

Startup 112

Startup Coach Metrics Marketing 112

Startup Professionals Musings

NOVEMBER 2, 2022

If the customer need is obvious and large, the calculated risk is in the quality of your solution, your team, and marketing. Risk is more manageable with subscriptions and even freemium pricing. Even non-profits need revenue to cover their costs, and continue to provide services. Find a strategic partner to accelerate growth.

Resource 121

Resource Metrics Entrepreneur Customer 121

Startup Professionals Musings

MAY 30, 2022

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. Managing business growth is more than metrics. You can hire the best salespeople, have great products and define good metrics, but without decisive and innovative managers, the sales organization will not reach its full potential.

Sales 147

Sales Metrics Guide Startup 147

Startup Professionals Musings

JUNE 23, 2021

As a consumer, I rarely pay attention to your marketing pitch, but I certainly always remember a exceptionally positive total experience with your team, based on a memorable set of interactions from first contact to discussions with friends. Incentives should be a combination of metrics and recognition to highlight results.

Customer 147

Customer Custom Technical Review Metrics 147

Startup Professionals Musings

MARCH 10, 2023

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. For progress and success assessment, each of these needs some metrics defined, a training plan, and responsibility assignments within your team.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

JUNE 20, 2022

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 111

eBook Metrics Examples Startup 111

Berkonomics

MAY 20, 2021

Most often it is the time of the chief architect of the product or service you provide, or of the best developers of that product. Finally, enterprise time equates to available runway, or remaining cash and resources that you can call upon to gain market share and increase corporate value. There are many ways to fall into this trap.

Resource 156

Resource Outsource Development Metrics Customer 156

Startup Professionals Musings

SEPTEMBER 21, 2020

For a new business, you can provide unique ingredients, but the preparation steps in your business plan must follow a tried and true recipe for startup success: Identify a market with a real need. You need a good cook, good marketing, and first-class service. time-to-market is critical) Viable financial model.

Startup 156

Startup Coach Metrics Marketing 156

Startup Professionals Musings

AUGUST 4, 2017

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Exactly what is that customer experience that every modern marketer is talking about, and how do you measure it? Exploit your product and service differences.

Customer 85

Customer Custom Product Marketing 85

Startup Professionals Musings

NOVEMBER 7, 2011

Most then add customer service at the rollout, but very few really understand what it means to be truly customer centric, and even fewer really achieve it. Customer centricity is far more than providing excellent customer service, although that’s a step in the right direction. Focus on individual customer value.

Customer 90

Customer Custom Services Pricing 90

Startup Professionals Musings

OCTOBER 17, 2018

According to most investors I know, traction is some clear evidence that the “dogs are eating the dog food” – usually meaning that you have at least one customer paying full price for your solution. If your phone app or service is free, then the number of users or downloads better be impressive and growing exponentially.

Tips 79

Tips Metrics Technical Review Customer 79

Startup Professionals Musings

MARCH 6, 2021

I’m sure all you accountants will agree that fixing the mistakes listed here does not require rocket science, but I’ve seen them so often that to be forewarned is to be forearmed: Failing to factor in fixed costs when pricing. Always use a break-even analysis to measure what volume and price are required to offset total costs.

Technical Review 151

Technical Review Startup Summary Pricing 151

Startup Professionals Musings

JANUARY 6, 2021

Fight the urge do more things, to attract more customers in a broader market. In reality, too many choices actually dilutes customer interest in your existing market, and makes your job of production, marketing, and support much more complex. The company has since gone public, and is still a market leader.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

Startup Professionals Musings

AUGUST 10, 2022

Thus, in my mentoring of potential technical entrepreneurs who have a real passion for their technology, I often recommend that they find a co-founder who can manage the marketing and execution elements of the new venture. If tracking the market and reality checking are not your thing, you may need a partner who can fill that gap.

Mentor 133

Mentor Startup Customer Custom 133

Startup Professionals Musings

APRIL 7, 2021

The best are ones quickest and most willing to do the realignment on a continuous basis these days, as the market changes, customer interests change, and you learn from experience. Make sure the inspiration that launched your vision isn’t lost in the course of a pivot or market change. Revisit your startup vision and values.

Social Media 143

Social Media Startup Framework Course 143

Startup Professionals Musings

JULY 26, 2021

Intuitively, many entrepreneurs and businesses believe that the key to faster growth and success is more products, features, and markets. Later, after that initial success builds resources, and your penetration of the target market approaches 30 percent, it’s time to expand your horizons and make anticipatory changes to your focus.

Startup 154

Startup Resource Entrepreneur Metrics 154

Startup Professionals Musings

FEBRUARY 8, 2020

If the customer need is obvious and large, the calculated risk is in the quality of your solution, your team, and marketing. Risk is more manageable with subscriptions and even freemium pricing. Even non-profits need revenue to cover their costs, and continue to provide services. Find a strategic partner to accelerate growth.

Entrepreneur 129

Entrepreneur Resource Metrics Customer 129

Both Sides of the Table

NOVEMBER 14, 2017

How profitable is my product or service? What sized team can I afford in order to sell, market & provide service to these customers? But expanding beyond our core customers was going to take more effort than simply launching in new markets. How long does it take me to pay back my original customer acquisition costs?

Startup 286

Startup Technical Review Customer Custom 286

Both Sides of the Table

MAY 27, 2016

I spend hours thinking about the products, competitors, market opportunities, recruiting and financing of these businesses. I love businesses that aim to massively reduce the costs of products or services in a way that makes a product or service vastly more accessibility and in which incumbents would have a hard time competing.

Invest 254

Invest Writing Pricing Metrics 254

Startup Professionals Musings

APRIL 28, 2021

If you are the hot-shot technical innovator that invented your solution, make sure you have an equally adept business and marketing expert to complement your skills. “If Pivot early, as required, to tune your features and marketing to meet the market and technical realities. The market is unpredictable and changes fast.

Technical Review 131

Technical Review Case Study Mentor Software Review 131

Startup Professionals Musings

JUNE 7, 2020

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. For progress and success assessment, each of these needs some metrics defined, a training plan, and responsibility assignments within your team.

Entrepreneur 131

Entrepreneur Outsource Development Startup Competition 131

Startup Professionals Musings

JUNE 5, 2019

With the advent of instant communication and social media, customer service starts at the first hint of interest by you, and never ends for repeat customers. For example, the days are gone when simply replacing a purchase or giving your money back was considered premium service. Technology enhances experience, not impedes it.

Customer 84

Customer Custom Company Companies 84

SoCal CTO

MARCH 13, 2007

skip to main | skip to sidebar SoCal CTO Tuesday, March 13, 2007 8 Ways the Internet has Changed Software Marketing Great post - 8 Ways The Internet Changed Software Marketing - is an interesting take on how different it is these days to market software. Early Stage Marketing and Branding – Farida Fotouh.

CTO Coach 150

CTO Coach Southern California CTO Hire Software 150

Startup Professionals Musings

JUNE 2, 2021

Features, availability, and brand are just the price of entry. Manual tracking and occasional surveys won’t keep you competitive in today’s high volume and rapidly changing market. You need a platform that is comfortable with the global scope of today’s market, with it’s wide range of social and economic cultures, trends, and needs.

Competition 142

Competition Software Review Social Media Customer 142

Startup Professionals Musings

FEBRUARY 5, 2020

Yet, in the interest of full disclosure, and an honest intent to save future entrepreneurs some grief and money, I would remind you that starting any business has key dependencies on at least five major elements, including product design and delivery, the right people on the team, adequate funding, a sizable market opportunity, and marketing.

Startup 131

Startup Entrepreneur Examples Customer 131

Both Sides of the Table

OCTOBER 10, 2011

Netflix as a service has always prided itself on movie recommendations that are tailored specifically to you plus user ratings on the quality of films. The big price increase : 5 out of 5 stars. Some customer segments value the DVD business and these may be more price sensitive. They are potentially different business models.

Netflix 287

Netflix Customer Custom Pricing 287

Startup Professionals Musings

SEPTEMBER 1, 2019

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. Managing business growth is more than metrics. You can hire the best salespeople, have great products and define good metrics, but without decisive and innovative managers, the sales organization will not reach its full potential.

Startup 97

Startup Sales Metrics Guide 97

Startup Professionals Musings

SEPTEMBER 20, 2019

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

Entrepreneur 93

Entrepreneur eBook Metrics Examples 93

Both Sides of the Table

NOVEMBER 2, 2010

This is part of a series on sales & marketing. Some objections are real and they end up becoming changes to your product, your service plan or your pricing / bundling. Prices are too high – Inexperienced sales reps will try to convince you they need to lower price to win deals.

Sales 289

Sales Startup Training Pricing 289

Both Sides of the Table

MARCH 25, 2016

Lately I’ve been having to say things I thought I’d never have to remind people, like, “getting to positive gross margin in several territories is a very low bar to claim success” or “profitable excluding marketing costs” is not actually a real thing. Market Size. MakeSpace provides physical storage.

Startup 150

Startup Marketing Study SEO 150

Startup Professionals Musings

AUGUST 7, 2020

In the short term you need customers to find you at any price, and in the longer term you need revenue, profit, and return loyalty. Even a million users on your social media site won’t pay the bills until you sell some advertising or a premium service. Separate serious business threats from daily crises.

Technical Review 124

Technical Review Layoffs Social Media Metrics 124

Startup Professionals Musings

FEBRUARY 24, 2017

Most of the guidance you see for entrepreneurs is aimed at those who are selling a product (Apple, Tesla, Xiaomi), or selling a service (Uber, Airbnb, Snapchat). The challenges for making money and survival in these professional services worlds are different, maybe even tougher. Set pricing to assure both revenue and profit.

Social Media 56

Social Media Pricing Technical Review Demand 56

Startup Professionals Musings

SEPTEMBER 28, 2015

A large and growing market opportunity. Investors look for startups which can address large markets, meaning those larger than a billion dollars and growing at double-digit rates. Small markets tend to change more rapidly with the economy, and may be more easily influenced by fads and competitors with recognized brand names.

Pricing 100

Pricing Technical Review Entrepreneur Startup 100