Remove 2016 Remove Customer Remove Entrepreneur Remove Metrics
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7 Key Entrepreneur Habits Highlight Execution Ability

Startup Professionals Musings

As a small business and startup advisor, I find that entrepreneurs often love to talk about their latest idea, but not their execution. For example, Elon Musk is recognized as a visionary entrepreneur, but his fortune and his impact has come from the great companies he has built, including SpaceX, Tesla Motors, and PayPal.

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Traction Metrics Seed Real Startup Funding And Growth

Startup Professionals Musings

Almost every entrepreneur looking for outside investors has heard the annoying rejection, “You are just too early – come back when you have more traction.” That should make you wonder - how do you measure traction in a metric? Customers and investors alike measure traction by your formal advisors.

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8 Initiatives To Make Your Customers Loyal Advocates

Startup Professionals Musings

If you can’t provide a memorable customer experience, your startup won’t survive very long these days. You now need more than loyalty from your customers -- they need to be your best advocates. The bar is being raised, so every entrepreneur needs new initiatives just to stay in the ballgame. Culture growth follows the leader.

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When Did Profit Become A Bad Word For Entrepreneurs?

Startup Professionals Musings

As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. Of course, I understand and don’t condone bad actors who get greedy, and exploit ways to unjustly squeeze customers and employees. Solve a painful problem for customers who have money to spend.

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How To Get New Customers By Targeting New Markets

Startup Professionals Musings

Many entrepreneurs assume that everyone will love their solution as much as they do, so they tune their marketing focus based on their own needs and wants. That’s the right place to start, but real growth and scale requires attracting customers who are not like you. Update your technology to reach new customer segments.

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5 Engagement Principles Now Drive Business Leadership

Startup Professionals Musings

With interactive social media and video everywhere, everyone needs to feel they have a relationship with their leaders, and every brand needs leader personification for customers to relate. Here is my adaptation of his engagement principles for all the aspiring entrepreneurs I advise: Learn to adopt an outsider’s perspective.

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How To Move From An Entrepreneur To Manager Or Fail

Startup Professionals Musings

As a business advisor, I have too often seen technical entrepreneurs get a product or service off the ground with ease, but then struggle mightily when their business reaches a couple of million in annual sales, or the employee count grows beyond a handful. True entrepreneurs love the tactical and problem solving challenges.