Berkonomics

MARCH 23, 2023

We take courses on-line. Examples of re-imagining the business. There are hundreds of other examples of re-imagination everywhere we look, making our lives easier and our reach greater than ever before. Let’s explore examples of these and more. Examples of this massive accumulation of data abound.

Mobile 156

Mobile Commerce Software Review Yammer 156

Startup Professionals Musings

AUGUST 14, 2012

One of the toughest and yet most important questions you will be asked by savvy potential startup investors is “What is your sustainable competitive advantage?” Yet many entrepreneurs, maybe in their passion for their new product, gloss over this one, or even announce that they have no competition.

Competition 97

Competition Patents Startup Social Network 97

Startup Professionals Musings

MAY 14, 2021

For example, I believe that Starbucks surprised most people by proving that they could take a commodity business, a coffee shop, and make it a worldwide profit winner, just by justifying premium pricing with a quality product, the right locations, personalized service, and appealing to the professional customer personas.

Pricing 145

Pricing Startup Competition Examples 145

Startup Professionals Musings

JUNE 14, 2011

One of the toughest and yet most important questions you will be asked by savvy potential startup investors is “What is your sustainable competitive advantage?” Yet many entrepreneurs, maybe in their passion for their new product, gloss over this one, or even announce that they have no competition.

Competition 102

Competition Patents Startup Social Network 102

Startup Professionals Musings

FEBRUARY 15, 2021

Of course, this path involves some risk, but you never get anywhere unless you take a chance. For example, I once worked for a small software company selling a sophisticated enterprise workflow solution. In many cases, the products from competitive companies are complementary, or many customers are natural candidates for both.

Startup 173

Startup Outsource Development Examples Customer 173

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. For example, I find that more people now look for a great total experience , including selection choices, ease of return, and friendly support, versus just the lowest cost transaction.

Marketing 162

Marketing Social Media Metrics Customer 162

Both Sides of the Table

JANUARY 12, 2014

If you’re a technology startup you need to excel at product, of course. I wish more startups were rigorous in defining market needs and competitive differentiate versus throwing spaghetti at the wall and seeing what sticks but it seems as an industry we’re breeding the culture of the latter. It’s worth a quick read.

Marketing 379

Marketing Startup SEM SEO 379

Startup Professionals Musings

JUNE 26, 2022

In fact, most employee training courses recommend the distance if the work relationship crosses management levels, and most management policies strictly forbid fraternizing with the team. Can be a competitive advantage. Of course, all these things can happen in any workship. Competition over salary, promotions, and position.

Startup 119

Startup Course Competition Social Media 119

Startup Professionals Musings

JANUARY 2, 2021

For example, a couple of years ago, Starbucks' chief executive officer, Kevin R. I often think of the scope of this example in my role as mentor to a struggling entrepreneur who is quick to blame his problems on employee mistakes, or even changing customer expectations. Of course, talking and giving orders is no substitute for doing.

Training 173

Training Examples Startup Social Media 173

Berkonomics

JUNE 27, 2019

As a group, we set a bar of fifteen percent as the minimum amount of time each week that a good CEO should spend reaching out to the company’s key customers in a proactive attempt to find issues, trends, unmet product needs, and of course create bonds that make their jumping to a competitor more difficult. Of course, they do.

Customer 120

Customer Custom Course Email 120

Startup Professionals Musings

JULY 23, 2021

For example, a few years ago Wells Fargo seriously damaged its brand trying to grow the business by creating accounts without proper customer consent. Yet every change can cause brand dilution or competition you don’t need. There are many comparable examples of big hits. Don’t let your bean counters devalue your brand.

Examples 170

Examples Customer Custom Social Media 170

Startup Professionals Musings

MAY 17, 2021

The leadership one is setting a poor example by your own actions (“Do as I say, not as I do.”) His rendition, including the following seven examples of poor leadership behavior, that I have seen all too often in startups, illustrate how your actions affect others around you: Blame others for everything. Think evolution, not revolution.

Examples 136

Examples Organization Startup Course 136

Both Sides of the Table

OCTOBER 3, 2013

Of course you now book when you want and even choose your restaurant based on availability at the time / day you want and you can book on your mobile phone at 2am or 8pm. and there was certainly less competition from everybody pitching local merchant solutions. As long as they didn’t lose the book or make a mistake.

Development Team Review 324

Development Team Review Course Mobile Writing 324

Startup Professionals Musings

MAY 15, 2020

For example, I usually hear about an aggressive marketing budget, with a plan to penetrate a few big retail chains, and some videos to catch your attention on YouTube. Sponsor some friendly competitive events with prizes. Examples include the Nike Run Club app where people participate in challenges and win trophies.

Marketing 170

Marketing Startup Examples Customer 170

Startup Professionals Musings

SEPTEMBER 15, 2021

A few examples of well-known benefit corporations in the USA include Kickstarter, Etsy in New York, Patagonia in California, and Seventh Generation in Vermont. Of course, investors still require a profitable business model, and the potential for high returns. Startups can use social responsibility as a competitive advantage.

Startup 149

Startup Organization Customer Custom 149

Startup Professionals Musings

JANUARY 8, 2023

So before you decide to move your manufacturing, software development, or call center out of town, make sure you understand the following considerations: Don’t give someone else control of your competitive advantage. Saving cost won’t help you if you can’t make the daily innovations required to stay competitive.

Software Review 114

Software Review Technical Review Outsource Development Outsource 114

Berkonomics

APRIL 4, 2019

And most of us investors are frustrated by the lack of regular communication – unless of course – the company needs more money. If there is a concern over some investors gaining a competitive advantage, the amount of information may be reduced to the minimum for some classes of those investors.

Class 120

Class Course Report Competition 120

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

SEPTEMBER 22, 2022

For example, many investors I know tell me they look for business plans that allocate the largest portion of a requested investment to marketing, but most often see the top “ use of funds ” to be further product or service development. Of course, you can’t possibly brand yourself if you don’t know who you really are.

Marketing 133

Marketing Customer Custom Outsource Development 133

Startup Professionals Musings

DECEMBER 29, 2021

For example, when Children's Place was looking for brand awareness for their solution, Kidpik, they found the best way to reach the target audience of young girls was by enlisting a small army of pintsize social-media stars, rather than conventional advertising. Perception is better than reality. I now use them exclusively.

Social Media 134

Social Media Case Study Customer Custom 134

Berkonomics

OCTOBER 13, 2016

Yet, there are constant examples of new entrants into a niche that grow, prosper and sometimes even become dominant. So when do we know which course to take? There’s an example of avoiding the encounter and losing the lead position when an opportunity to compete surfaces unexpectedly. At least that is the conventional wisdom.

Resource 120

Resource Competition Examples Customer 120

Startup Professionals Musings

SEPTEMBER 22, 2021

Of course, you need to show how your business will make money and provide an impressive investor return, but that should be only the beginning. That means you need to show examples of your ability to get results, when all around you are bogged down on details, or unable to face the harsh challenges of the real world.

Ideas 140

Ideas Entrepreneur Equity Resource 140

Startup Professionals Musings

AUGUST 23, 2021

Of course, if you wait for the perfect time, you may never start. For example, TOMS shoes agreed to donate a pair of shoes to the needy for every pair sold. For example, Richard Branson relishes the satisfaction of initiating innovative startups, and rewarding strong team members with the opportunity to run a joint spinoff.

Startup 159

Startup Satisfaction Entrepreneur Equity 159

Startup Professionals Musings

JANUARY 11, 2020

Of course, it’s smart not to stray too far from your core competency for credibility and risk reduction. For example, Uber recently made the move into food delivery with UberEATS. Today the Internet is the best example of a new sales and delivery channel that has transformed many businesses, and killed others.

Customer 143

Customer Custom Examples IBM 143

Startup Professionals Musings

SEPTEMBER 25, 2020

For example, Tesla and Elon Musk have capitalized on the environmental benefits of electric vehicles, coupled with a more memorable shopping experience by eliminating dealers. Apple, as an example, have consistently focused on consumer electronics, since their early days with personal computers.

Customer 133

Customer Custom Satisfaction Examples 133

Startup Professionals Musings

DECEMBER 13, 2021

In my view, practical business courses in school are better than an advanced degree or MBA. Of course, working for a startup is not like running one, but it will give you a feel for the lifestyle implications, the mindset required, and how things look from the inside out. You can win as a team.

Satisfaction 135

Satisfaction Entrepreneur Startup Mentor 135

Startup Professionals Musings

OCTOBER 6, 2021

For example, no one should be convinced that Elon Musk is following someone else’s lead as he charges ahead with Tesla, SpaceX, and other initiatives. Of course, this kind of leadership has a big risk, since you have no one to blame if you get it wrong. Personal leadership is setting your own direction and making real decisions first.

Entrepreneur 132

Entrepreneur Course Satisfaction Guide 132

Both Sides of the Table

NOVEMBER 2, 2010

As a founder, when you’ve been dealing with these kinds of objections for a couple of years it becomes natural and you easily handle objections on price, product & competition without much thought. Some examples of common objections across many companies: 1. It is tacit knowledge. We’re a premium product.

Sales 289

Sales Startup Training Pricing 289

Both Sides of the Table

SEPTEMBER 17, 2017

The crypto in cryptocurrency is of course referring to cryptography on the ability to encrypt your transactions so they can’t be modified after they have been written to the blockchain. This market structure in which the few, large players use their market position to eliminate competition is inevitable. It’s Hobbesian economics 101.

Course 280

Course Startup Framework Marketing 280

Startup Professionals Musings

SEPTEMBER 4, 2020

A stellar example is Blake Mycoskie , founder of shoe company Toms, who donates one-for-one a pair to dis-advantaged people in other countries, is never shy about sharing his personal stories of working directly in the field where the donated shoes are lifesavers. Marty Zwilling First published on Inc.com on 08/20/2020.

Startup 145

Startup Competition Customer Custom 145

Startup Professionals Musings

OCTOBER 17, 2022

Examples of some leaders in this space include Ron Conway in Silicon Valley and Jeff Bezos , CEO of Amazon, who each may have over 500 startups in their portfolio. Of course, every new direction has some challenges, so the super angel model isn’t perfect. Super angels sometimes drive up valuations.

Guide 136

Guide Venture Capital Funding Class 136

Startup Professionals Musings

MARCH 6, 2020

For example, several years ago Apple was so convinced that their new Apple III model would be a winner that they rolled it out broadly, rather than do a controlled release first with some key customers. Thomke, which shows how to make experiments pay off, describes best practices, and provides some great examples of the process done right.

Sample 124

Sample Customer Custom Tool 124

Startup Professionals Musings

JANUARY 16, 2022

Of course, growth is implied in that equation, and is also required for maintaining a sustainable competitive advantage. MySpace, for example, boomed after launch for five years without a revenue model. Of course, growth is implied in every focus, and profit enables growth. Design a product or service that you can sell.

Platform 118

Platform Snapchat Startup Course 118

Startup Professionals Musings

MAY 28, 2010

One of the toughest and yet most important questions you will be asked by savvy potential investors is “What is your sustainable competitive advantage?” Yet many entrepreneurs, maybe in their passion for their new product, gloss over this one, or even announce that they have no competition. Proven team with inside relationships.

Competition 49

Competition Tips Patents Startup 49

Startup Professionals Musings

DECEMBER 16, 2019

Differentiation is still a key requirement for a successful startup rollout, and but it must be sustainable to keep ahead of new competition. Of course, working on perception can backfire if the differentiation reality isn’t there. A good example is Dominos Pizza “We’ll deliver in 30 minutes or less, or it’s free!”

Product 124

Product Customer Custom Examples 124

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. Of course, even the best talent needs communication, training, and support to create the culture you need.

Product 109

Product Training Customer Custom 109

Startup Professionals Musings

JANUARY 1, 2021

Of course, any highly emotional and unmanaged conflict can certainly lead to chaos and a dysfunctional organization. For example, in a conflict over the right branding logo , it may help to understand who and how the ultimate decision will be made, including key elements driving the decision, such as targeted customers and competition.

Activity 145

Activity Organization Examples Satisfaction 145