Berkonomics

SEPTEMBER 13, 2018

This is one of my favorite insights, since I lived this one in a positive exit from my computer business. Types of business buyers expanded. Most people will tell you that there are two kinds of eventual buyers for your business: financial and strategic. A financial buyer will analyze your numbers, past and forecast, to the n’th degree, and calculate the price based upon the result, after carefully comparing your numbers with those of others in the same and similar industries.

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Berkonomics

JUNE 17, 2021

There are lots of ways to measure a great leader. Here are three that should resonate with you as leader and with those who follow you.

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Berkonomics

NOVEMBER 1, 2018

So, you are close to selling your company, and counting the profits a bit early. Well, that’s human nature. Here’s a thought for you to recall later when and if the event happens. Remember those who got you there. And for tax reasons, remember them before the closing of the deal, so that you can do so by sharing a bit of your proceeds without paying personal income tax upon those amounts. Formal option plans for some.

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Berkonomics

JUNE 10, 2021

Reorder your priorities for maximum impact. There are two reasons to consider reordering your priorities to attack your most critical issues first, before the easiest ones to knock off the list.

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Advertiser: Aggregage

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

Company

Berkonomics

JUNE 3, 2021

How easily it happens…. Sometimes it is easy for someone to make a statement that, in the enthusiasm of the moment or to make a point, crosses the line between fact and fiction. Sometimes it seems to you to be just an unimportant little stretch of the facts.

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Berkonomics

MARCH 4, 2021

My stories of missing the context of the times. Over the years, as I managed my several computer companies as CEO or executive chairman, I made the decision to go to market with a brand-new product that had never before been exposed to my customer’s marketplace.

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Berkonomics

MAY 20, 2021

Enterprise time as a measurable commodity. Let’s examine the challenges to a CEO in making use of enterprise time, one of your most valuable and often misused assets.

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Berkonomics

MAY 13, 2021

Several years ago, I wrote a book entitled, Extending the Runway , using parallels to piloting a plane to equate to the process of creating and building a small company, making maximum use of resources to get to and beyond breakeven. It is worth revisiting the most.

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Berkonomics

MAY 6, 2021

It’s a big issue within any company. . With easy access to Internet shopping, games, social networks and more, employees can find many ways to focus on personal issues while at work, detracting from productivity and demonstrating a disrespect for the time paid for by their employer.

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Berkonomics

NOVEMBER 19, 2020

Remember when? Back when we were all trying to figure out the real value of traffic on the web, investors – and acquiring companies – got a bit crazy with metrics used to value acquisitions and investments.

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Berkonomics

APRIL 29, 2021

Especially for social media-based businesses, we all need to recalibrate our thinking about who is the teacher and who is the student. There is nothing wrong with a manager slowing a conversation to ask for more background when speaking to an often-younger and more involved associate.

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Berkonomics

APRIL 22, 2021

How we usually do this in our businesses. The best managers we all know are the ones who take the time to praise good work in public, before an employee’s peers. Most of us have a monthly award for the top person in a group of employees.

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Berkonomics

APRIL 15, 2021

A story of a CEO attuned to creating great company culture. A CEO friend of mine who managed her one-hundred-person remote workforce as a virtual company told me her story of how she welcomed new employees as she grew her firm. Strike that. She over-welcomed her new employees.

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Berkonomics

MARCH 11, 2021

Here’s the question: Sean Ellis, the marketing guru behind DropBox and other successes, advises clients that “The most important question on a survey is , ‘How would you feel if you could no longer use this product?’” He goes on to quantify the response.

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Berkonomics

APRIL 8, 2021

It doesn’t happen by accident. Not every new game-related site is a Steam, and surely not every social network is a Facebook. And not every texting application is a Twitter. A story of an app from nowhere to near dominance.

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Berkonomics

APRIL 1, 2021

Plans do not often work as devised. . We are not always smart about the market or the product. We may miss the context of the times and come to market too soon or too late. We might not have researched the market diligently or used a focus group or other market research.

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Berkonomics

MARCH 25, 2021

We know that one of the ways we hold onto our customers is if there are high switching costs to move away to a competitor. But how about the other side of the coin? Do you have an estimate of the cost for a potential customer to switch to your side?

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Berkonomics

MARCH 18, 2021

Well, of course it is. So, let’s dig a bit deeper.

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Berkonomics

JANUARY 7, 2021

It starts with sharing the opportunity and upside. Think of startups and early stage businesses whose entrepreneurs you know.

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Berkonomics

FEBRUARY 25, 2021

Focus upon you as marketing genius. Let’s focus not upon the process of marketing and positioning, but on you. How should you become the best marketer you can be, even if you are a first-time entrepreneur or a seasoned CEO? There’s an answer for that.

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Marketing Metrics Education Resource 156

Berkonomics

FEBRUARY 18, 2021

First, let’s recall the four “P’s” of marketing. Marketing is a science devised to help drive customers to your door. There are lots of ways to define how to market well, including the four P’s of marketing (1): product, price, promotion and place.

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Berkonomics

FEBRUARY 11, 2021

How planning is done today. Most entrepreneurs and managers, when modeling their business operations using a spreadsheet, start with expected revenue by month. Then they calculate cost of sales, and then project their expenses, to find the bottom-line profit or loss each projected month.

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Berkonomics

FEBRUARY 4, 2021

When meeting with investors or even your board, during the period devoted to feedback after your presentation, you will hear comments and recommendations that don’t resonate with you. Some will be from a misunderstanding of your explanation. Some listeners will challenge your assumptions.

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Berkonomics

JANUARY 28, 2021

Here’s the “what.”. I can’t tell you how many times I’ve walked away from deals where the entrepreneur insists on a start-up pre-money valuation that is so high, no angel could expect to make a return upon the investment, even with a reasonable sales price for the company down the road.

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Berkonomics

JANUARY 21, 2021

Ask the important question first. When making a presentation to a new audience, the smart thing to do, if there is an opportunity, is to ask your audience by show of hands, if they have some knowledge of your industry or space.

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Berkonomics

JANUARY 14, 2021

Increasing your chances of success.

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Berkonomics

DECEMBER 31, 2020

First, an example of grant-based financing . I was chairman of a company that, for twelve years never took a dollar of outside investment. The company was funded entirely by grants from the National Institute of Health, amounting to millions of non-dilutive dollars in all.

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Berkonomics

DECEMBER 24, 2020

Use creative fundraising instead of equity or debt? By Dave Berkus. First, my story as an example. Let me tell you the story of how I raised $100,000 to fill a gap needed to purchase a new home for my young family years ago.

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Berkonomics

DECEMBER 17, 2020

Let’s take a few minutes to examine the kind of equity financing available to small or early stage businesses. In most cases, these applicants for equity funding must be rooted in technology to apply to this limited discussion. Friends and family investors.

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Berkonomics

DECEMBER 10, 2020

Some professional advice . Here’s more advice from professional investors for aspiring entrepreneurs. Each of us has a list of things we look for early on when identifying whether we want to go to the next step in analyzing a plan.

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Berkonomics

APRIL 16, 2020

Most of us are affected by this current crisis. Many businesses threatened with closure forever. Small businesses are the most vulnerable, even though most have furloughed employees. Rent and other fixed costs continue, even when revenues have dried up – a fatal combination.

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Layoffs Sales News Competition 197

Berkonomics

DECEMBER 3, 2020

Most innovations come from responding to a customer’s needs, or finding a niche where products need improvement or extension. It is rare to innovate using a blank sheet of paper in a room with bare walls and no other contributors. A thought exercise.

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Berkonomics

NOVEMBER 27, 2020

Mike Tyson: brilliant business savant. Everybody’s got a plan – until they are punched in the face,” famously stated boxer Mike Tyson.

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Berkonomics

NOVEMBER 12, 2020

Can you create a product in a vacuum? Creating a new product in a relative vacuum is an exercise in complete trust that you know what’s best for the customer, perhaps even without interaction with such a customer.

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Berkonomics

AUGUST 20, 2020

So, you’ve found the buyer, received a letter of interest, signed it, and exclusively tied your company up for a period to complete the deal. Everyone on the board is anxious to close this. You’ve committed time to do whatever is needed.

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Berkonomics

NOVEMBER 5, 2020

You’ve surely heard the variations on this theme. Ready, fire aim” was popular in the 1990’s, accredited to any of several authors.

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Berkonomics

OCTOBER 22, 2020

My dad was a smart businessman, even if not formally trained. He occasionally gave me advice that turned out to be more than wise, looking back at subsequent experience and events.

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Berkonomics

OCTOBER 15, 2020

Investors love it when entrepreneurs draw little or no money from their startups. It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven. What are you worth to the business?

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Equity Journal Email Research 156

Berkonomics

APRIL 30, 2020

So, you’ve been at this for years through thick and thin, great days and days in which you’ve had better times. Much of your job has become routine. But it feels good to see your “baby” grow and others buy into your vision. That daily routine.

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Berkonomics

OCTOBER 8, 2020

The biggest error in planning may not be spreadsheet calculation error. Or cost estimation. It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you’ve researched, or selected, or even just guessed at to create your plan.

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Berkonomics

OCTOBER 1, 2020

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Berkonomics

JULY 2, 2020

At the MIT Center of Collective Intelligence, professors and graduate students are wrestling with an important opportunity – and gaining ground. With new collaborative tools available for use in the cloud, people are no longer isolated in their creative endeavors.

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