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73.6% of all Statistics are Made Up

Both Sides of the Table

Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. One of our core tasks was “market analysis,&# which consistent of: market sizing, market forecasts, competitive analysis and then instructing customers on which direction to take. People throw them around at cocktail parties.

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Is it YOU or your great plan?

Berkonomics

Here’s a test: Several weeks ago, we published statistics of start-up and company failures. If you read that analysis of statistics for startups and early-stage businesses, you have learned the truth that at least half of the businesses backed by professional early-stage investors will die within three years or less.

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10 Self-Assessment Checks For Aspiring Entrepreneurs

Startup Professionals Musings

Therefore, the least you can do is take advantage of some of the self-assessment tools and guides around, like the classic book “ The Entrepreneur Equation ,” by Carol Roth, which highlights personal characteristics and skills required. It helps to work in a similar company before you start your own. Take stock of whom you know.

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How big is your ocean? A lesson in TAM, SAM & SOM

Berkonomics

The biggest mistake many corporate marketers, entrepreneurs and even investors make in the initial stages of planning – overstating the size of the (SOM) serviceable obtainable market. Companies grow proportional to the size of their (SOM) market, and success cannot turn a limited market opportunity into a grand enterprise.

.Net 156
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7 Keys To A Winning Business As A Phone App Developer

Startup Professionals Musings

One of the quickest ways to become an entrepreneur these days is to develop and publish a smartphone app. The price of entry can be less than $10,000, so the competition is huge and growing rapidly. Yet according to other statistics, vanishing few of these ever generate a significant profit. Look for value points to control.

Develop 138
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6 Information Surges Raise Huge Startup Opportunities

Startup Professionals Musings

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. Online gaming has moved from the geeks to the mainstream.

Startup 126
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7 Risks Of Not Leveraging Team Member Data Analytics

Startup Professionals Musings

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. Almost any startup can start with Excel, and move to open-source data analysis tools, including Python or RStudio.

Tool 121