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What is the Right Burn Rate at a Startup Company?

Both Sides of the Table

But what IS the right amount of burn for a company? Gross Burn vs. Net Burn. Burn rate in case you don’t know is the amount of money a company is either spending (gross) or losing (net) per month. (it Net burn is the amount of money you are losing per month. Let’s set up a framework.

Startup 383
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8 New Ways To Focus On Customers For Trust And Profit

Startup Professionals Musings

As an advisor to entrepreneurs, I find that I often have to remind them that the world of customers has changed since they started their last business. Pushing yourself on customers by touting features and price doesn’t work anymore. Use analytics to see why customers are buying, as well as what.

Customer 133
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If you’re lucky enough: Celebrate your exit!

Berkonomics

How might you view your successful exit from the company you have spent so much effort to build? You no longer need to worry over daily cash or threats to your net worth. To celebrate with your customers, who worry over continuity and look to you for assurances that the transition will not negatively affect them. Write a book.

Writing 156
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New Doors

Eric Greenspan

As I write this, the articles and comments about my company’s demise continue. Thankfully, for every angry investor or customer, there is someone amazing who says something supportive and kind. Someone called my company a scam today. We built an amazing company, full of amazing people, doing amazing things.

IBM 191
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5 Tips For New Entrepreneurs Needing Investor Funding

Startup Professionals Musings

In a two-minute video clip, you can introduce yourself, show your passion and the engaging personality you need to win over customers, partners, and employees. Net out the problem and your solution in the first 30 seconds. Pitch your company, not your product. Executive summary glossy. Written business plan.

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5 Unique Elements Make A Winning Selling Proposition

Startup Professionals Musings

If you are looking for funding and customers for your new business, you need to identify your “unique selling proposition” (USP) right up front, in 30 seconds or less, to differentiate yourself in today’s information overload. Investor and customer attention spans are short, and both will write you off quickly.

.Net 73
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5 Ways To Engage The Right People In Your New Venture

Startup Professionals Musings

Whether you are looking for partners, investors, or future customers, you need to show a level of professionalism and leadership very early that will draw people to your idea. Be sure to net out the opportunity and the solution in the first thirty seconds. Make it light, but factual. Think of it as an infomercial.

Ideas 126