Berkonomics

JANUARY 12, 2023

Some types of businesses generate more and more recurring revenues over time, often growing to a size where recurring revenues pay all of the overhead of the company – an enviable position. There is a phenomenon I have observed time after time with mature companies receiving over 75% of their revenues from recurring sources.

Sales 296

Sales Customer Custom SaaS 296

Berkonomics

JUNE 27, 2019

Especially in your growing company, you are drawn into daily process issues by all of your direct reports, often responding to questions and problems, leaving little time for strategic thought. And that behavior results in leaving little time for outreach to the most critical component in your chain – your key customers. Find the pain.

Customer 120

Customer Custom Course Email 120

Berkonomics

NOVEMBER 21, 2019

Often, we joke together as managers of companies or of people that our goal is “world domination” or “to crush the competition.” How about companies formed to profit and give to charity? Companies living on the edge or losing money often cannot make those vital promises, affecting its reputation, security and equity value.

Company 156

Company Companies .Net Google 156

Startup Professionals Musings

NOVEMBER 25, 2019

The new era of highly connected and interactive technology is changing not only how business employees interact with customers, but also how they interact with each other, and with their company. I am happy to see reports that young companies are leading the way in these trends, on both the customer and the employee side.

Competition 127

Competition Case Study Platform Yahoo 127

Berkonomics

AUGUST 31, 2023

Know your market and competition, or don’t spend a dime on anything else. But wait for the mic drop… [Email readers, continue here…] Here’s where some intelligent market research might have saved the company and my investment. Hotels were installing the system; guests were satisfied, and the company was growing.

Competition 156

Competition Research Summary Pricing 156

Startup Professionals Musings

JULY 20, 2020

Contrary to popular opinion, viral marketing has not eliminated the need for old-fashioned lead generation to bring customers to a startup. His professional background includes having held marketing-executive roles at big companies as well as startups. Email marketing. Display advertising.

Customer 146

Customer Custom Marketing Startup 146

Berkonomics

MAY 16, 2019

There must be at least several companies out there right now positioning to compete with you. And although many positioning efforts cross the lines between these, great companies play to the strength of just one. The five strategies: Picking one to emphasize. So, how do you position yourself to be a stand out? Using price creatively.

Company 120

Company Companies Pricing Competition 120

Berkonomics

JULY 19, 2018

Dell is a great example of emphasis upon fast, creating a customized computer in 48 hours or less, bringing in assemblies and components just-in-time to make the assembly line. However, if Dell quality were poor and returns high, the company surely would not have survived on speed of response alone. More examples of fast above better.

Competition 226

Competition Examples Customer Custom 226

Berkonomics

APRIL 19, 2012

Professional investors laugh when they hear an entrepreneur state, “We have no competition.” Whether the entrepreneur has not been able to find companies doing “something like” the plan, or s/he has not considered the most obvious killer of new ideas – doing nothing, it is a faux pas that should never be allowed to happen.

Competition 189

Competition Slides Sales Ideas 189

Berkonomics

NOVEMBER 24, 2022

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. Everyone, including those connected with the newly acquired dominant player, wondered what changes would affect their company and their personal lives and fortunes.

Resource 156

Resource Competition Examples Customer 156

Berkonomics

MARCH 30, 2017

Email readers, continue here…] You can expect to have the same attitude if a past employee resurfaces after a layoff, resignation or after being fired, with a plan for a competitive business – or as an employee of a competitor. So, here’s the obvious advice to give to departing employees. “No

Company 120

Company Companies Layoffs Competition 120

Berkonomics

DECEMBER 29, 2022

What if we could do it better, do it in a new way, do it to attract new customers, do it to distance ourselves form the competition? Can we rapid prototype this idea into a product and try it out on potential customers? Are we missing something those customers think they need, or want so badly they will wait and later pay?

Design 156

Design Framework Ideas Customer 156

Berkonomics

FEBRUARY 17, 2022

He stated that everything rides upon his credibility when he declares that he can produce a quality product on time, especially when his competition has faltered attempting to do so. Email readers, continue here…] And we all know that once posted, a bad comment or review cannot be erased and remains forever. And your promises?

News 156

News Customer Custom Email 156

Berkonomics

MAY 28, 2020

But for most, the true sign of success and potential for even more is in the landing of a major account, one that validates the pricing, quality and competitive advantages of a company’s offering. For this reason alone, it makes sense for most of us to aim high once we have worked the kinks out of our offering with smaller customers.

.Net 156

.Net Resource Competition Customer 156

Berkonomics

JUNE 3, 2021

An estimate of the number of customers, of the amount of traffic to your website, of the numbers of products sold or hours spent in development – there are thousands of areas where a number sounds better when it is larger. Sometimes it seems to you to be just an unimportant little stretch of the facts. Yes, we’ve seen gray areas.

Customer 156

Customer Custom Examples Email 156

Berkonomics

FEBRUARY 9, 2023

The most striking example was the one hundred million–dollar purchase of one of my companies by a New York private equity investor using only five million of its cash. If there are enough of these, the CEO or founder can announce a valuation as high as double the actual negotiated enterprise value of the company. What power!

Pricing 156

Pricing Sales Examples Tool 156

Berkonomics

JUNE 2, 2022

Email readers, continue here…] Using your attorney or accountant to find who is close to the decision maker sometimes works. Do you have any contacts or friends within the target company? Are you working with or selling to a particularly important competitor to your target customer? Here’s an even better way.

Ideas 156

Ideas Sales Competition Venture Capital 156

Berkonomics

MARCH 10, 2010

Your customers know what they want more than you do. Find one to teach you. This insight came from personal experience and from a good friend who advanced the notion of the “teacher-customer” years ago. Together we would work out solutions in the form of new functions, new controls, new reports, and new safeguards.

Customer 149

Customer Custom Design Conference 149

Both Sides of the Table

MAY 14, 2018

I know that you can use an email system with this to track my open rate, whether I forwarded the email, the IP address where I read it, whether I was on a mobile device or a wired computer and you can tell who else read the document. I would likely open up your deck, read it again and begin contemplating your company again.

Funding 239

Funding Venture Capital IP Email 239

Berkonomics

DECEMBER 29, 2016

Some types of businesses generate more and more recurring revenues over time, often growing to a size where recurring revenues pay all of the overhead of the company – an enviable position. There is a phenomenon I have observed time after time with mature companies receiving over 75% of their revenues from recurring sources.

.Net 226

.Net Sales Customer Custom 226

Berkonomics

NOVEMBER 25, 2021

Whether it is you or a quality control manager, someone must assure that the product or service you send out to the world will not fail to perform at least to the level of customer expectation, if not to delight those customers most likely to be critical. Fourth is competitive risk. Third is finance risk.

Competition 156

Competition Marketing Class Product 156

Berkonomics

JULY 6, 2017

Know your market and competition, or don’t spend a dime on anything else. In 1994, (I know a long time ago), I invested over a million dollars into a company whose entrepreneurs had a vision that I bought into for many reasons, not the least of which was that I had industry experience and understood the need. Back to 1996.

Competition 266

Competition Research Summary Pricing 266

Startup Professionals Musings

AUGUST 15, 2022

Facebook has created an environment where millions of people can hold billions of conversations with people and companies, transforming how people expect to interact with each other and the world. More and more company and personal services are being virtualized to the Cloud. Crowdsource: putting your audience to work beyond customers.

Startup 126

Startup Social Media Entertainment Metrics 126

Both Sides of the Table

APRIL 19, 2011

Don’t and you might make one catastrophic mistake that leaves you in the annals of Effed Companies. He is very hands-on and helpful – especially for any company looking into customer acquisition. Called Tim Spicer (c-companies partner) and he told him matt, they only want one thing, more warrant coverage!!!

Acquisition 304

Acquisition Startup Customer Custom 304

Berkonomics

MARCH 5, 2020

In the creation of a young company, there are five principal risks to be addressed by the entrepreneur. One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer. And fifth: Competitive risk. .

Outsource Development 156

Outsource Development Ideas Resource Patents 156

Tech.Co

FEBRUARY 16, 2024

FedEx Small Business Grant For: Small businesses Amount: Up to $50,000 Grantor: FedEx FedEx's Small Business Grant is a grant contest run by delivery company FedEx. It's competitive though – last year 18,000 applicants competed for only 12 slots. You can unsubscribe at any time. Learn more and apply here Deadline: April 1 2.

Technical Review 193

Technical Review Software Review Startup Competition 193

Both Sides of the Table

NOVEMBER 1, 2009

The world has changed much since I started my first company in 1999. As organizations we have become more open and I believe this is great for businesses and their customers. some came from our customer service, some were to improve performance / scalability from tech ops, some were bug fixes, etc.)

Organization 280

Organization Customer Custom Tips 280

Startup Professionals Musings

DECEMBER 6, 2012

As I visit the websites of many startups, as well as more mature businesses, I still too often see a “contact” page offering nothing but a sterile form for customers to submit, never to be heard from again. Customers are not all like you, and they have choices, so a “one size fits all” customer service is no longer a viable option.

Social Media 91

Social Media Customer Custom Media 91

Berkonomics

NOVEMBER 21, 2018

Especially when starting a company with personal savings or money from relatives and friends, early signs of success are intoxicating. Each new customer, each mention in the press or online adds to the feeling of early accomplishment. There is nothing quite as thrilling in business as igniting a startup and watching it blossom.

Hollywood 120

Hollywood Writing Press Startup 120

Startup Professionals Musings

JULY 11, 2013

As I visit the websites of many startups, as well as more mature businesses, I still too often see a “contact” page offering nothing but a sterile form for customers to submit, never to be heard from again. Customers are not all like you, and they have choices, so a “one size fits all” customer service is no longer a viable option.

Social Media 99

Social Media Customer Custom Media 99

Berkonomics

JULY 4, 2013

But for most, the true sign of success and potential for even more is in the landing of a major account, one that validates the pricing, quality and competitive advantages of a company’s offering. For this reason alone, it makes sense for most of us to aim high once we have worked the kinks out of our offering with smaller customers.

.Net 235

.Net Resource Competition Customer 235

Startup Professionals Musings

APRIL 20, 2022

The next step is to effectively and continuously communicate through multiple channels, including walking-the-talk, email, and really listening to feedback. Be sure to encompass all your constituents, especially including customers. Foster collaboration rather than competition. Team members must feel motivated and enabled.

Product 109

Product Training Customer Custom 109

Berkonomics

OCTOBER 17, 2019

Your employees, your shareholders, your customers, and your suppliers are all driven by this question. Email readers, continue here…] Suppliers need you to be a good customer, to pay a reasonable price for goods or services, to pay your bills on time, and of course to reorder when the time comes.

Customer 120

Customer Custom Course Email 120

Berkonomics

OCTOBER 28, 2021

This insight is like a Hans Christian Anderson parable, but aimed at you and your business… There are big fish and small fish, potential customers, all swimming in the sea that is your potential marketplace. Is this a problem or an opportunity? You, the lonely fisherman, must weave a net to catch your fish. This lesson is important. .

.Net 156

.Net Statistics Marketing Research 156

Eric Greenspan

JANUARY 13, 2014

I’ve spent tens of thousands on Facebook ads for my companies and for clients’ I have built and manage many pages. They have the worst customer service of any company I deal with. If you have an issue renaming or merging a page, you get an email that says “denied.” Can you email them?

Social Network 184

Social Network Email Competition Web 184

Startup Professionals Musings

MAY 22, 2017

Success in today’s rapidly changing and highly competitive business environment requires a total alignment between the needs of each business function and the priorities of all team members. You must have a clearly defined and communicated company purpose, with buy-in from everyone. Failed strategies erode your competitive position.

Company 54

Company Companies Technical Review Coach 54

Berkonomics

OCTOBER 21, 2021

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. This one seems non-negotiable for many non-production-line workers and offers savings for both the company and employee if properly implemented and supervised.

Design 156

Design Examples Competition Pricing 156