Startup Professionals Musings

OCTOBER 23, 2015

If an entrepreneur can’t build a culture of excitement and commitment at a startup, the chances of long-term success are negligible. As a mentor to entrepreneurs, I often get asked what you can do to build the right culture. Customize your organizational structure based on individuals' strengths. Every investor knows this.

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Startup Professionals Musings

JANUARY 21, 2017

Until the recession a few years ago, market research indicated that as many as 90 percent of the roughly 20 million American small business owners were motivated more by lifestyle than growth and money. More recently, the desire for extra income has become the key driver in new startups, according to a 2015 study. Cobb and M.

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Tech.Co

FEBRUARY 19, 2021

In fact, Here's the post in its entirety: We have signed an agreement to be acquired by Amazon and are looking forward to working with them as we continue to build easy-to-use tools for entrepreneurs. Nothing is changing for our customers at this time, and we’ll be in touch with customers as and when we have further updates.

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Startup Professionals Musings

NOVEMBER 30, 2015

Aspiring entrepreneurs often ask me what to do first when starting a business. Instead, entrepreneurs need to focus first on execution disciplines and timing. Your credibility as an entrepreneur is at stake. If your strength is technology, find a co-founder who has a comparable strength in business, finance or marketing.

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Startup Professionals Musings

JUNE 1, 2015

Image via Flickr by Jupiter Labs Many first-time entrepreneurs find themselves unable to bootstrap their startups, and also unable to find early funding at the venture capital level or even with angel investors. Every good entrepreneur needs to invest skin in the game, to show credibility and leadership to others.

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Berkonomics

APRIL 8, 2021

From its start in 2015, the number of registered users has “suddenly” climbed from 45 million in 2017 to a reported 300 million by the end of 2020. It was as much in reaction to my getting blank stares from entrepreneurs when I asked the above question as it was for me to better understand the problem itself. Here is my list.

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Startup Professionals Musings

AUGUST 29, 2011

Other writers, like Guy Kawasaki, have irreverently called some of these “entrepreneur lies,” but I prefer to think of them as innocent over-enthusiasm or over-confidence that can kill your deal. Gartner says our market will be $50 billion in 2015.” All we have to do is get 1% of the market.”

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socalTECH

AUGUST 26, 2019

For this morning's interview with an entrepreneur, we spoke with Thomas Russell , the Ceo and co-founder of ETC Solar (www.etc-solar.com), a Los Angeles startup developing technology to improve the efficiency and cost of solar cells. Afterwards, we heavily engaged with the solar cell community to identify product-market-fit.

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Both Sides of the Table

OCTOBER 26, 2020

So mostly we just had to listen to customer feedback from founders, VCs and LPs. Marketing, recruiting, building data products & tools, event management, analyzing the portfolio, etc. For example, we’re now already well into our third growth fund that we started in 2015 (the first returned 2x cash in 3.5 I’m only 52!

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InfoChachkie

JANUARY 23, 2019

Even Salesforce abandoned it’s silly “No Software” tagline, after the company had to explain in 2015 that it meant, “No legacy software, just cloud software.”. You’re not a SaaS entrepreneur, you’re a software entrepreneur. If the software does not reside on our customers’ servers, we won’t sell it.”.

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Startup Professionals Musings

OCTOBER 19, 2015

That’s why I recommend that they find a co-founder who loves business challenges, including marketing and finance. Thus it’s a waste of time for most entrepreneurs to be looking for investors until they have a product and some customer revenue. Marketing is a necessary evil to mask poor technology.

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Startup Professionals Musings

NOVEMBER 14, 2015

Every entrepreneur is quick to tell friends and potential investors about his or her vision of changing the world, about all the customers who have expressed an interest, and about all the other investors who are lining up to get a piece of the action. Is your customer-acquisition rate accelerating? Margins should be increasing.

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Startup Professionals Musings

AUGUST 7, 2015

When pitching to investors, entrepreneurs always seem to start with a customer pitch, then add a slide or two about the business. Investors are business experts, while the entrepreneur is more likely the product expert. These don’t get funded, nor bought by customers. First to market” is not sustainable by a startup.

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Startup Professionals Musings

SEPTEMBER 21, 2015

As a startup advisor, when I suggest cooperating with competitors, most entrepreneurs initially think I'm crazy or suggesting something illegal. That’s a win-win-win deal, since the ease-of-use attracts more people to the new site, it enhances the Facebook brand, and it simplifies the customer interaction.

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Startup Professionals Musings

AUGUST 24, 2015

Creating a successful startup is all about marketing these days, no matter how compelling your solution. According to Urban Dictionary , hype is “a clever marketing strategy where a product is advertised as the thing everyone must have, to the point where people begin to feel they need to consume it.” Peak of inflated expectations.

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Startup Professionals Musings

OCTOBER 2, 2015

By definition, every startup is predictably unpredictable, since new solutions have no proven track record, startups are usually building a new market, and the world around them is changing faster than ever. Five major elements of every business include your people, product, opportunity, money and marketing.

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Startup Professionals Musings

APRIL 20, 2015

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. So what should an entrepreneur do to convince themselves, as well as potential investors, that they have a viable business model before it is totally proven?

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Both Sides of the Table

JANUARY 6, 2014

And here’s an important point that I think modern entrepreneurs often forget: Investors are “co-owners” of your business. The functions of an early-stage board are pretty obvious and well understood: Providing introductions to customers, biz dev partners, recruits, the press, other investors, etc. Mentorship.

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Startup Professionals Musings

JULY 24, 2015

In this age of relationships, you, the entrepreneur, are a very important element of your new brand, and it’s never too early to start marketing the value of your expertise, insights and ideas. Every entrepreneur should count on at least a couple of adjustments or pivots before they get it right. Start today.

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Startup Professionals Musings

FEBRUARY 28, 2015

In reality, a simple Excel spreadsheet model customized around your assumptions can save you hours and avoid a wasted expense in validating alternative vendor and marketing decisions. The way to start is with a sample financial model, freely available from many sources on the Internet, such as this one from Entrepreneur.

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Startup Professionals Musings

NOVEMBER 9, 2015

A popular myth these days is that successful entrepreneurs must attract investors to get their businesses going, when the reality has been that more than 80 percent of new businesses are started and grown with no outside investment at all. Bootstrapping not only reduces cash needs, but increases commitment. The need to hire staff immediately.

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Startup Professionals Musings

NOVEMBER 21, 2015

Based on my experience advising entrepreneurs, I’m convinced that success is often more a mindset than a specific set of skills or intelligence. A fixed mindset is when entrepreneurs believe their abilities and market are fixed, and the challenge is to make the best of the hand already dealt. Market change is opportunity.

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Startup Professionals Musings

JUNE 26, 2015

As a model, think high-quality marketing collateral, with text and graphics in columns and sidebars, but focused on the value of your business, rather than selling your product. I see too many executive summaries that are simply heavy-duty customer pitches, or lightweight visions of the future. Clearly define your business model.

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Summary Patents Technical Review Competition 101

Startup Professionals Musings

MAY 25, 2015

Every entrepreneur I know is dismayed by the number of friends who approach them with a line such as “I have an even better idea that will change the world, and one of these days I’m going to get around to starting my own business.” In today’s rapidly changing market, perfection is a fleeting and impractical objective.

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InfoChachkie

OCTOBER 20, 2014

Want to be an entrepreneur? In addition, Entrepreneur Magazine recently included UCSB in its Top 50 Schools For VC Backed Entrepreneurs at number 37. This allowed the curriculum to efficiently find its product / market fit. A version of this article previously appeared in Forbes. Don''t go to Wharton or Harvard.

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Santa Barbara Technical Review Startup Venture Capital 258

socalTECH

FEBRUARY 10, 2017

They've solved it at the enterprise paint point, where we are at the mid-market. Our product was built specifically for the mid market, and we've been riding the wave of IT budgets, which are starting to open up, and companies are really quickly signing up because this is a big pain point, from their perspective.

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Startup Professionals Musings

AUGUST 31, 2015

It seems that everyone I know who works in a corporate environment dreams of escaping to become an entrepreneur, and every entrepreneur wishes he or she had the security of a regular paycheck. As someone who has experience on both sides of this fence, I’m convinced that the move from employee to entrepreneur is far more risky.

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InfoChachkie

JANUARY 4, 2016

In November of 2015, Citrix announced that it will spin out the “GoTo” Division, of which GoToMeeting remains the flagship product, as a standalone public company. Many of the tactics we deployed simply do not work in today’s market. I knew that every dollar I spent to acquire a customer resulted in a 4x return.

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Startup Professionals Musings

SEPTEMBER 25, 2015

Many aspiring entrepreneurs are stuck in the idea stage, and only a few have the discipline and the insight to move on to the execution phase. If you strategy and plan are not clear even to you, or constituents don’t seem to get it quickly, you can bet that potential customers also won’t get it.

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Startup Professionals Musings

AUGUST 10, 2015

If you're an aspiring entrepreneur, you need to take a hard look at yourself before leaving that regular paycheck. The good and the bad news is that as an entrepreneur, you won’t have a manager charged with directing your efforts or peers helping you implement, and your new team will be quick to tell you only what you want to hear.

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Startup Professionals Musings

OCTOBER 17, 2015

Customers and opportunities don’t wait. It does mean a proactive and ever-vigilant plan to keep moving forward with the market and stay ahead of competition, even if you must make your own products obsolete. Constantly urge urgency with external market data, competitor announcements and innovative approaches from outside.

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Startup Professionals Musings

AUGUST 14, 2015

Too many entrepreneurs tackle starting a business as a random walk into a business minefield, and they count on their street smarts, thick skin and pure determination to get them to their destinations alive. Maybe more important, you need domain knowledge, relationships and lots of potential customers.

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Startup Professionals Musings

JANUARY 17, 2015

For the elite startups and entrepreneurs who manage to attract the investor they dream of, and survive the term sheet negotiation, there is still one more hurdle before the money is in the bank. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad.

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Technical Review Startup Satisfaction Entrepreneur 108

Startup Professionals Musings

JULY 6, 2015

Every new baby gets a name before it is introduced to the world, and yet some entrepreneurs continue to send me business plans with TBD (to be determined) in place of a business name on the front page. Your business name will have the same impact on potential customers. Tricky spellings send customers to competitors.

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Social Media Customer Custom Startup 103

socalTECH

NOVEMBER 2, 2017

We got really serious after the success of that customer, who wanted to make this technology available for all of its employees across the globe. Anne Fulton: I've always been an organizational psychologist crossed with a serial entrepreneur. I can't help myself in being an entrepreneur. This is like my fifth business.

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Startup Professionals Musings

AUGUST 21, 2015

When starting a new business, an entrepreneur has to take a “hands-on” role. In the context of a startup, there are many “hands-on” attributes that every entrepreneur must demonstrate and enjoy if he or she hopes to succeed in building a new business. Able to adapt or pivot the business to respond to the market.

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Startup Professionals Musings

JUNE 12, 2015

Here is my summary of some major considerations that every entrepreneur needs to evaluate against the cost and effort to attract equity investors: Completing a grant application is real work. Enhance your business plan and marketing with these in mind. The only real funding that counts in startup success comes from customers.

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