Startup Professionals Musings

OCTOBER 21, 2023

Proof of any business model starts with a finished product or solution, sold to a new customer for full price, with high satisfaction for the value received. Decide early where and when money will come from, set some milestones and metrics, and work to a plan, or be caught short. Start selling it before you build it.

Customer 109

Customer Custom Satisfaction Sales 109

Startup Professionals Musings

JANUARY 22, 2021

Proof of any business model starts with a finished product or solution, sold to a new customer for full price, with high satisfaction for the value received. Decide early where and when money will come from, set some milestones and metrics, and work to a plan, or be caught short. Start selling it before you build it.

Sales 165

Sales Customer Custom Social Media 165

Startup Professionals Musings

MAY 1, 2019

With the real data from that surge, you need to take a hard look at business model realities, cost of customer acquisition, inventory costs, and other key metrics. Control costs and adjust prices to maintain your margin. Document processes and metrics for economies of scale.

Metrics 86

Metrics Startup Training Customer 86

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. One bad customer experience will kill not only one customer, but many future ones, who hear the message via social media and friends. The world has changed.

Customer 84

Customer Custom Company Companies 84

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. Attract, train, and reward only the best leaders.

Technical Review 124

Technical Review Layoffs Social Media Metrics 124

Startup Professionals Musings

OCTOBER 8, 2018

You need to communicate quantified and updates goals quarterly, including the metrics to assess progress and success. Make sure your channels are open and responsive, through social media, websites, and easy access to executives. Define stretch goals and challenge your team to deliver. Once gone, customers won’t be back.

Technical Review 84

Technical Review Customer Custom Startup 84

Startup Professionals Musings

JANUARY 26, 2018

I learned this the hard way a few years ago in a startup where customers loved our idea and the free prototype, but we couldn’t sell one for the full price needed to meet our financial projections. We simply hadn’t tested the price sensitivity in the market segment and geography that needed the features we offered.

Customer 59

Customer Custom Pricing Startup 59