Startup Professionals Musings

FEBRUARY 14, 2021

First to market, for example, is not normally a sustainable advantage for startups. Startups simply don’t have the resources to keep ahead of large competitors who see initial traction and go after it. Competition for your new hydrogen fuel auto engine is not limited to other hydrogen auto engine offerings, or even other autos.

Competition 166

Competition Funding Startup Patents 166

Berkonomics

AUGUST 17, 2017

Let’s examine the relationship between time, quality and competitiveness. On a larger scale, there are epoch stories of giant companies eating massive losses in a recall of product, often based upon limited testing before release. We have heard the “haste makes waste” ditty since childhood.

Software Review 243

Software Review Examples Competition News 243

Startup Professionals Musings

MAY 5, 2014

You can start a new e-Commerce site on the Internet for as little as $100, with cheap smart phone apps, new technology innovations, or tapping the multitude of opportunities brought by capitalizing on our concern for dwindling natural resources. Mature companies often lose sight of scrap and changeover time in existing systems.

Resource 96

Resource Ideas Startup Commerce 96

Startup Professionals Musings

AUGUST 14, 2014

First to market, for example, is not normally a sustainable advantage for startups. They simply don’t have the resources to keep ahead of large competitors who see initial traction and go after it. Competition for your new hydrogen fuel auto engine is not limited to other hydrogen auto engine offerings, or even other autos.

Competition 93

Competition Startup Patents Slides 93

Startup Professionals Musings

DECEMBER 21, 2013

This initial focus is usually driven by limited financial and people resources, as well as the bandwidth of the executive team. Yet a creative and skilled team will often find that non-organic growth techniques can better leverage these limited resources. Even mergers and acquisitions (M&A) came quickly. Fresh customer base.

Organization 97

Organization Competition Startup Acquisition 97

Startup Professionals Musings

JULY 5, 2021

Today you can start a new web site business for as little as $100, produce cheap smart phone apps, or lead the effort to tap the multitude of opportunities brought by capitalizing on our concern for dwindling natural resources. Mature companies often lose sight of scrap and changeover time in existing systems.

Startup 162

Startup Resource Entrepreneur Social Media 162

Startup Professionals Musings

OCTOBER 20, 2023

Networking to build and maintain positive relationships with the right people outside your company is something you can’t forget in the rush to get your new business going. For example, consider Whole Foods , whose focus on healthy foods and a sustainable environment is legendary, even though their prices are often a bit higher.

Marketing 116

Marketing Resource Training Startup 116

Startup Professionals Musings

FEBRUARY 27, 2023

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Get help with grant funding and incubator resources. They can also connect you to area businesses.

Entrepreneur 110

Entrepreneur Class Startup Resource 110

Berkonomics

OCTOBER 21, 2021

Or concentrate our available resources on just plain money as an attraction? Salaries or hourly wages must be within reasonable limits set by the industry and matched by the competition, both regionally and for the same job classification. Here are several, gleaned from numerous companies and systems of compensation.

Design 156

Design Examples Competition Pricing 156

Startup Professionals Musings

JUNE 30, 2021

By definition, all of you entrepreneurs are leaders, by taking the initiative to start a new company. For example, a couple of years ago, Starbucks' CEO Kevin R. Johnson accepted full company accountability on Twitter for a racial profiling incident at a Starbucks in Philadelphia.

Coach 162

Coach Startup Resource Competition 162

Startup Professionals Musings

JUNE 3, 2023

A few are still trying to make a profitable business out of nurturing startups, but it’s a challenge to make money when your customer startups don’t have many resources to give. I believe their competitive advantage is their top on-site leadership, exclusivity, and connections to investors.

Organization 92

Organization Incubator Startup Resource 92

Startup Professionals Musings

JULY 27, 2022

I call this linear thinking , and it’s a sure way to be ultimately overrun by your competition. For example, BlackBerry was really the first in the smart mobile phone market, but they never thought beyond their tiny physical keyboard as they added new features. Always practice thinking outside the box.

Competition 139

Competition Examples Custom Customer 139

Startup Professionals Musings

AUGUST 13, 2023

He succinctly outlines the key behaviors that I believe every business leader must focus on, to drive innovation without waiting for the next competitive crisis: Avoid the assumption that current gifts will keep on giving. A business that relies on static skill replacement is falling behind, and ripe for the next competitive crisis.

Framework 96

Framework Ideas Competition IBM 96

Startup Professionals Musings

MAY 30, 2020

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Get help with grant funding and incubator resources. They can also connect you to area businesses.

Class 124

Class Startup Resource Mentor 124

Berkonomics

OCTOBER 13, 2016

Yet, there are constant examples of new entrants into a niche that grow, prosper and sometimes even become dominant. In one industry I know well, the dominant player with 22% market share was acquired by one of the largest companies in the technology world. So when do we know which course to take? Quietly abandon a niche?

Resource 120

Resource Competition Examples Custom 120

Startup Professionals Musings

JULY 26, 2021

Since we all have limited resources, and can’t add more hours to the day, the result is usually more things done poorly, rather than a few key things done better than anyone else. Good examples of startup focus before success include Google with their search engine, Facebook with friends networking, and Apple with personal computers.

Startup 154

Startup Resource Entrepreneur Metrics 154

Berkonomics

APRIL 18, 2019

So, here’s one to help you with squeezing the most out of your own available resources. In this new reality in our business world, there is certainly little room for mistakes and no room for bloat within our companies. Now, some of us remember things better when given a catchy phrase or rhyme. Preventing them is our responsibility.

Help 120

Help Resource Product Email 120

Startup Professionals Musings

JANUARY 2, 2021

For example, a couple of years ago, Starbucks' chief executive officer, Kevin R. Johnson , was quick to accept accountability via a company apology on Twitter for a racial profiling incident at a Starbucks in Philadelphia, even though he could have claimed that a fired employee was at fault.

Training 173

Training Examples Startup Social Media 173

Startup Professionals Musings

NOVEMBER 23, 2020

He succinctly outlines the key behaviors that I believe every business leader must focus on, to drive innovation without waiting for the next competitive crisis: Avoid the assumption that current gifts will keep on giving. A business that relies on static skill replacement is falling behind, and ripe for the next competitive crisis.

Tips 160

Tips Framework Ideas Competition 160

Startup Professionals Musings

JULY 26, 2023

For example, we all remember when Blockbuster realized too late that Netflix was stealing customers by offering videos online rather than via DVDs, but even then they were unable to adapt their processes and their thinking. I see this happening in smaller ways often, where there is minimal focus on competition.

Metrics 71

Metrics Training Netflix Resource 71

Startup Professionals Musings

NOVEMBER 18, 2019

The challenge is that too many are confused on what that means for them, and what it takes to make their business competitively agile. These authors, and I agree, define agility in business as the ability to detect and assess changes in the competitive world in real time, and then take decisive and effective action.

Competition 102

Competition Examples Startup Resource 102

Startup Professionals Musings

SEPTEMBER 22, 2021

Unfortunately, most of us don’t have enough resources to bootstrap our own startups, so we are completely dependent on investors to help turn great ideas into great businesses. You need to show you have a “Plan B,” and a never-give-up mindset, in handling any competitive threat or customer reaction.

Ideas 140

Ideas Entrepreneur Equity Resource 140

Startup Professionals Musings

APRIL 29, 2023

With services, scaling the business often implies cloning yourself, since you are the intellectual property and the competitive advantage. For example, both need to provide exemplary customer service, build customer loyalty, and provide real value for a competitive price. Make sure everyone knows your vision and values.

Startup 111

Startup Training Services Writing 111

Startup Professionals Musings

JUNE 25, 2023

For example, many companies are fighting the remote work trend by bringing team members back to the office where they can better focus together on improving customer experience. Predictive – able to anticipate and provide resources. More and more business leaders, including Richard Branson, use this style to great advantage.

Custom 113

Custom Customer Training Tool 113

Startup Professionals Musings

JANUARY 8, 2023

Outsourcing is defined as contracting the work to another company, usually located in a developing country, like India, China, or Eastern Europe. Saving cost won’t help you if you can’t make the daily innovations required to stay competitive. The same applies to manufacturing and almost any process these days.

Software Review 114

Software Review Technical Review Outsource Development Outsource 114

Startup Professionals Musings

SEPTEMBER 23, 2020

In fact, I think the evidence is clear that many entrepreneurs started their journey while still in college, and capitalized on all the resources there, before moving on: Extend your technology focus with business basics. For example, I do business mentoring at nearby Arizona State University and Embry-Riddle Aeronautical University.

Entrepreneur 157

Entrepreneur Mentor Class Resource 157

Startup Professionals Musings

NOVEMBER 23, 2022

Your challenge is to show examples of forward-thinking companies that are ahead by doing things differently. Find other situations that led to success, or explain why the environment, competition, or opportunity has changed to reduce the risk of failure. People perceive that this idea has been tried and failed.

Ideas 116

Ideas Netflix Resource Customer 116

Startup Professionals Musings

AUGUST 3, 2020

With services, scaling the business often implies cloning yourself, since you are the intellectual property and the competitive advantage. For example, both need to provide exemplary customer service, build customer loyalty, and provide real value for a competitive price. Make sure everyone knows your vision and values.

Startup 174

Startup Training Services Writing 174

Startup Professionals Musings

JUNE 5, 2012

Companies today are paranoid, afraid that even their friends will steal their business. Your goal is “ coopetition ” - to find a way to partner with your competitor in such a way that both parties can substantially benefit from the other's resources - without stealing customers or damaging anyone's credibility.

Company 96

Company Companies Startup Examples 96

Startup Professionals Musings

AUGUST 23, 2021

For example, TOMS shoes agreed to donate a pair of shoes to the needy for every pair sold. Do I rely on my own resources of seek investors? Some people like the challenges of building a product and starting a company, then doing it again, while others look forward to scaling the business and driving a world-wide public enterprise.

Startup 159

Startup Satisfaction Entrepreneur Equity 159

Startup Professionals Musings

AUGUST 2, 2015

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.

Startup 118

Startup Competition Patents Resource 118

Startup Professionals Musings

OCTOBER 23, 2021

Some investors seem to focus wholly on the strengths of the management team, or a sustainable competitive advantage, and in reality these are the core attributes for every funding equation. Relevancy for an early-stage company is the discovery and understanding of the real addressable market for a product or service.

Education 151

Education Customer Custom Sales 151

Startup Professionals Musings

DECEMBER 6, 2020

For example, I’ve always been impressed with how improvisational comedy never loses its positive impact, no matter how controversial the subject matter. Elon Musk , as an example, is impressive in his broad knowledge and interest in electric vehicles, getting humans into space, and new energy technologies.

Mentor 122

Mentor Ideas Competition Examples 122

Startup Professionals Musings

MARCH 3, 2021

For example, it’s great to pursue a higher purpose, like feeding the hungry, but don’t forget that running any business is a hungry mouth you have to feed. For example, if you have ever watched the Shark Tank show on TV, they always ask about the cost of customer acquisition. Postulate competitive reactions and your responses.

Entrepreneur 162

Entrepreneur Social Media Examples Metrics 162

Startup Professionals Musings

FEBRUARY 24, 2020

He outlines well the following benefits of outsourcing and freelancing, and I agree: Serving your business well is a competitive priority. With worldwide instant access to skills and alternatives via the Internet, I see a much more competitive and skilled remote workforce than ever before.

Outsource 123

Outsource Startup Technical Review Training 123

Berkonomics

DECEMBER 5, 2013

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. But many decisions were made within my company walls, and surely by competitors, based upon those numbers. Email readers, continue here.]

Metrics 239

Metrics Startup Marketing Demand 239

Startup Professionals Musings

APRIL 20, 2022

Whole Foods , for example, has built their business with a commitment to natural and organic foods, and have a culture of loyal employees and customers, resulting in 500 stores worldwide. Foster collaboration rather than competition. This fosters a positive team culture, and communicates company values that are important for everyone.

Product 109

Product Training Customer Custom 109