Startup Professionals Musings

NOVEMBER 3, 2019

It happens on the front end for startups to get traction, and then again later for every company as the economy, competition, and culture changes around them. The pivot can be as simple as changing the pricing model, or as complex as moving from a product business to a services business. Reinvent the vision for change.

Course 85

Course IBM IBM Social Media 85

Both Sides of the Table

SEPTEMBER 10, 2021

We have global opportunities from these trends but of course also big challenges. Of course we can’t. On the other hand, the biggest winners will turn out to be much larger than the prices people paid for them and this will happen faster than at any time in human history. Hot, Flat & Crowded.” What Has Changed in Financing?

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Startup Professionals Musings

SEPTEMBER 15, 2021

Even without B-Corp status, entrepreneurs are speaking out more on the positives to support business models that benefit not just shareholders, but customers, workforce, the environment, and the greater community. Of course, investors still require a profitable business model, and the potential for high returns.

Startup 149

Startup Organization Customer Custom 149

Both Sides of the Table

SEPTEMBER 15, 2022

<== Our conclusion was that this isn’t a temporary blip that will swiftly trend-back up in a V-shaped recovery of valuations but rather represented a new normal on how the market will price these companies somewhat permanently. Of course our execution against the strategy has had to change but the strategy has remained constant.

Venture Capital 416

Venture Capital Marketing Technical Review Seed Funding 416

Startup Professionals Musings

AUGUST 28, 2022

Employees and customers alike are looking for meaning, not simply employment and commodity prices. I can think of at least five ways that this benefits the business, as well as customers: Products in a purpose culture more readily sell at a premium price. Doing good opens the door to a broader customer base.

Organization 143

Organization Startup Pricing Customer 143

Startup Professionals Musings

FEBRUARY 14, 2021

They are looking for startups that have a sustainable advantage over direct and indirect competitor offerings, as well as obvious value to customers living without your product today. 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

Startup Professionals Musings

AUGUST 14, 2014

They are looking for startups that have a sustainable advantage over direct and indirect competitor offerings, as well as obvious value to customers living without your product today. 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

JULY 19, 2014

Today’s customers are much more in control of their buying decision, as they have more choices and more information than ever before. Bloom’s recent book, “ The New Experts: Win Today''s Newly Empowered Customers.” These decisive moments, and how to respond, are outlined in Robert H. Build a relationship and trust quickly.

Customer 98

Customer Custom Entrepreneur Startup 98

Startup Professionals Musings

AUGUST 30, 2015

Today’s customers are much more in control of their buying decision, as they have more choices and more information than ever before. Bloom’s classic book, “ The New Experts: Win Today's Newly Empowered Customers.” These decisive moments, and how to respond, are outlined in Robert H. Build a relationship and trust quickly.

Customer 101

Customer Custom Startup Course 101

Berkonomics

NOVEMBER 25, 2021

Of course, there are external risks that cannot be controlled or predicted but can be planned for as well – natural disasters, sudden political or economic events that rattle the entire economy, and more. Not only is the enterprise threatened, but confidence is shaken among employees, suppliers, even customers. Third is finance risk.

Competition 156

Competition Marketing Class Product 156

Startup Professionals Musings

JULY 30, 2021

Of course, no business wants to be the next Blockbuster , which kept charging straight ahead despite subtle clues that the Internet was changing everything. Here are some key strategies that I recommend to prompt you when changes to your business may be required: Look for a changing customer sense of value.

Marketing 162

Marketing Social Media Metrics Customer 162

Startup Professionals Musings

FEBRUARY 12, 2018

Today’s customers are much more in control of their buying decision, as they have more choices and more information than ever before. Bloom’s classic book, “ The New Experts: Win Today's Newly Empowered Customers.” These decisive moments, and how to respond, are outlined in Robert H. Build a relationship and trust quickly.

Customer 52

Customer Custom Startup Course 52

Startup Professionals Musings

MAY 1, 2021

Truly satisfied customers are a joy to every business person. You have figured out how to undercut your competitor’s price, and still hold your margin. Love that sustainable competitive advantage. Of course, never forget those ongoing perspiration items that seem to haunt you every day: Create intellectual property.

Startup 160

Startup Patents Competition Social Network 160

Startup Professionals Musings

APRIL 7, 2021

Every entrepreneur’s first priority should be the alignment of interests across the range of constituents required for success – partners, investors, customers, vendors, and employees. Make sure the inspiration that launched your vision isn’t lost in the course of a pivot or market change. Realign all elements of the plan.

Social Media 143

Social Media Startup Framework Course 143

Berkonomics

JULY 26, 2018

Is your product or service one that responds to a customer need, real or perceived? In general, there are three types of products or services: those a customer needs, those a customer wants, an d those a customer believes he does not want or need. Why buy it?”. Why buy MINE? . An example of how not to do it.

Sales 226

Sales Customer Custom Pricing 226

Startup Professionals Musings

JANUARY 13, 2014

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure the rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 99

Sales Customer Custom Entrepreneur 99

Startup Professionals Musings

FEBRUARY 15, 2021

Of course, this path involves some risk, but you never get anywhere unless you take a chance. All this was done without damaging anyone’s credibility, or stealing customers. It’s very unusual for two competitors to have exactly the same strengths – in development, marketing, distribution, or customer support.

Startup 173

Startup Outsource Development Examples Customer 173

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

Startup Professionals Musings

SEPTEMBER 22, 2022

Great marketing is required to generate revenue and grow every business, especially new businesses which have no brand recognition nor loyal customer base. Yet, as a business consultant, I still find many of you business leaders relying primarily on your technology, word-of-mouth , or location to attract necessary customers.

Marketing 133

Marketing Customer Custom Outsource Development 133

Startup Professionals Musings

AUGUST 7, 2022

It happens on the front end for startups to get traction, and then again later for every company as the economy, competition, and culture changes around them. The pivot can be as simple as changing the pricing model, or as complex as moving from a product business to a services business. Reinvent the vision for change.

Course 127

Course IBM IBM Social Media 127

Both Sides of the Table

APRIL 3, 2014

Whenever I heard why we didn’t feel a sales process at an important customer was going well (or if we lost) I would get involved myself. They like a solid product, well defined pricing, good references to sell against, a clear quota and well defined competitors. Customers buy solutions to solve their problems.

Sales 382

Sales Help Startup Pricing 382

Both Sides of the Table

NOVEMBER 2, 2010

.&# When I talk to people about sales I often describe the sales process as a series of hurdles (objections) that are put up to avoid making a purchase and your responsibility is to work through these common objections with your customer. In the evangelical phase you’re working through these with customers on the fly.

Sales 289

Sales Startup Training Pricing 289

Startup Professionals Musings

NOVEMBER 23, 2019

Employees and customers alike are looking for meaning, not simply employment and commodity prices. I can think of at least five ways that this benefits the business, as well as customers: Products in a purpose culture more readily sell at a premium price. Doing good opens the door to a broader customer base.

Organization 128

Organization Startup Pricing Customer 128

Startup Professionals Musings

MAY 15, 2020

What I want to hear is an innovative marketing and growth strategy that will set you apart in the minds of investors, as well as customers. Today’s customer is especially attracted to companies like TOMS , who donates a pair of shoes for every pair they sell, or Patagonia, with its support for grassroots environmental groups.

Marketing 170

Marketing Startup Examples Customer 170

Startup Professionals Musings

NOVEMBER 23, 2012

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 96

Sales Customer Custom Pricing 96

Both Sides of the Table

MARCH 31, 2012

Here is a sample of the reading list for the course that gives you a flavor for just how modern and practical this course is. Jeff (also an HBS alum) co-teaches the LTV course with Professor Eisenmann about a student of theirs who had written a blog post about sales taking on some of my previous assertions.

Startup 319

Startup Sales Course Competition 319

Both Sides of the Table

FEBRUARY 28, 2018

If a consumer will pay a fixed price for a product or service then the battle over who gets the margin in any sale is between the person who merchandises a product and the person who manufactures it. Many of us learned about substitute products in undergrad economics courses. So Why Does This Matter? What is it, really?

Product 296

Product Course Customer Custom 296

Both Sides of the Table

DECEMBER 26, 2010

Competition. And the reality is that if you have no competition it will likely be perceived as a negative, not positive. And the reality is that if you have no competition it will likely be perceived as a negative, not positive. Here’s some thoughts on the competition slide and also how to talk about it: Competition.

Venture Capital 313

Venture Capital Slides Competition Education 313

Both Sides of the Table

DECEMBER 27, 2010

Conventional wisdom in most companies is that “the competition is the enemy&# – it’s the rallying cry to dig deeper, get more features out the door, issue press releases citing differences and attack the competition’s weaknesses in sales presentations. A healthy respect for your competition will serve you well.

Cloud Computing 320

Cloud Computing Competition Press Startup 320

Both Sides of the Table

JANUARY 12, 2014

If you’re a technology startup you need to excel at product, of course. We short-handed this marketing mix as “ the four P’s ” – product, price, promotion and place (distribution) – this was devised in 1960 and while a little bit dated is still a useful framework. It’s worth a quick read.

Marketing 379

Marketing Startup SEM SEO 379

Startup Professionals Musings

SEPTEMBER 4, 2011

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 97

Sales Customer Custom Pricing 97

Startup Professionals Musings

JANUARY 16, 2022

Of course, growth is implied in that equation, and is also required for maintaining a sustainable competitive advantage. You might sell one of two of your widgets for $1 million each, entering profitability immediately, but then die because you can’t grow sales at that price. Design a product or service that you can sell.

Platform 118

Platform Snapchat Startup Course 118

Berkonomics

MARCH 14, 2019

Of course, we are speaking of increased valuation of your company when we speak of “wealth.” 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 120

Outsource Development Ideas Resource Patents 120

Berkonomics

NOVEMBER 23, 2012

Your employees, your shareholders, your customers, and your suppliers are all driven by this question. 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. Your customers want to be treated as special.

Course 176

Course Customer Custom Email 176

Both Sides of the Table

FEBRUARY 5, 2011

Whenever I heard why we didn’t feel a sales process at an important customer was going well (or if we lost) I would get involved myself. They like a solid product, well defined pricing, good references to sell against, a clear quota and well defined competitors. Customers buy solutions to solve their problems.

Sales 316

Sales Startup Pricing Customer 316

Startup Professionals Musings

DECEMBER 7, 2019

Of course, there are good ways and bad ways to ask for help. Most experienced business people love to help, but they don’t have the time or interest to give you a course on basic business concepts, like the need to be competitive. Clearly identify key constraints around your request.

Help 123

Help Entrepreneur Course IBM 123

Startup Professionals Musings

FEBRUARY 5, 2020

Of course, there are no guarantees, but I still see otherwise smart entrepreneurs taking shortcuts in their hiring, or jumping into business relationships based on emotion or low cost. Funding is depleted before customer sales ramp up. Your customers and competition make unexpected moves.

Startup 131

Startup Entrepreneur Examples Customer 131