6 Keys To Convince Investors Of Your Competitive Edge

Startup Professionals Musings

Most entrepreneurs are quick to assert to potential investors that their product or solution will kill the competition, but unfortunately your opinion alone is not enough to convince most experienced investors. Competitive businesses have great teams, as well as great products.

Find your “teacher customer.”

Berkonomics

Your customers know what they want more than you do. This week’s insight came from personal experience and from a good friend who advanced the notion of the “teacher-customer” years ago. The customer would be the first to receive the new functionality in a new release.

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Can you defend your pricing niche against your competition?

Berkonomics

There can be nothing more important in your business planning that selecting the proper pricing niche, making your story clear using that niche, and the defending your position against the competition. What competition would you face?

8 Keys To Delivering Exceptional Customer Experiences

Startup Professionals Musings

Most businesses spend big money testing their brand logo, catchy marketing phrases, and demographics, but spend little time training and validating that their employees can and do deliver exceptional experiences to their customers. They have to out-behave and outperform your competition.

Here’s how NOT to define your competition

Berkonomics

An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. Your potential customers could choose “do nothing.”. It could be that a larger competitor has met with its customers, promising to extend its product line into this very niche.

6 Steps To Providing Exceptional Customer Experiences

Startup Professionals Musings

For decades, efforts to satisfy customers have been built around demographics – capitalizing on race, ethnicity, gender, income, and other attributes. Customer personalities define customer experience, and sets what they love, and what they hate.

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Customer-Centric Strategies Win Over Product-Centric

Startup Professionals Musings

Is your marketing focus product-centric or customer-centric ? With a wealth of products now available, customers look for the most memorable experience , not just the best product. Amazon is very customer-centric, but it can make all the difference in retail as well as online.

Customer Loyalty Can Be a Startup Competitive Edge

Startup Professionals Musings

You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. Not too long ago, everybody thought customer loyalty was dead. Price was everything, and customers would switch suppliers for pennies.

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4 Strategies To Ramp Up The Total Customer Experience

Startup Professionals Musings

Much has been written recently about the requirement to focus today on the total customer experience, as a competitive edge or even for survival. You want that customer to be delighted by the overall experience, rather than remember the many steps and the pain.

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Do you take those loyal, key customers for granted?

Berkonomics

And that behavior results in leaving little time for outreach to the most critical component in your chain – your key customers. Then, what is a benchmark for customer outreach? But, do your customer know that they want? Do customers know what they like when they see it?

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Why I Look for Obsessive and Competitive Founders

Both Sides of the Table

He wants to compete to be the lead drummer in the competitive ensemble and study under Terence, an obsessive instructor who is hell bent on winning competitions for the school. But the film has my brain buzzing all week about obsessive and competitive people. Obsession.

Competition Is A Lie – Tracy DiNunzio Explains Why

InfoChachkie

Tracy DiNunzio, Founder and CEO of Tradesy , recently shared her insights regarding the best approach for entrepreneurs to address competition. competition''s a really interesting thing. Competition Is A Lie. A version of this article previously appeared on Forbes.

Don’t Wait To Catch Up Until Your Customers Hate You

Startup Professionals Musings

After working in business at all levels, and consulting to entrepreneurs for years, I’m still surprised to see so many situations where things that should be easy are painful to customers, and lead to customers hating your business.

8 Principles For Building A Competitive Core Business

Startup Professionals Musings

As a startup, you need to use your limited resources to excel at a few core things for your best customers, in order to stand out and get the momentum going. Your customers’ biggest need is not for more things. Revenue and competitive position followed.

Customer Service Can Kill Your Customer’s Experience

Startup Professionals Musings

With the advent of the Internet, social media, and instant communication via texting, customer expectations for service, as part of their entire customer experience, have changed. Company finds customers based on interests. Technology must improve the customer experience.

Investor Secrets For Smart Competitive Positioning

Startup Professionals Musings

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. Non-specific terms, like better usability and low cost don’t incite customers to action these days.

Competitive Intelligence

SoCal Tech Calendar

Tuesday, March 20, 2012 -- Competitive Intelligence: 007 Market Intel. Your mission, should you choose to accept it, is to estimate market size, competitive market share, how many potential customers are there, and price points. PDMA SoCal. It's Monday morning. The company president calls you into his office after attending a brainstorm session. He announces, "Let's build a gold-plated widget!"

7 Reasons To Think Positively About Competition

Startup Professionals Musings

Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements about them to their own team, investors and even to customers. Here are seven key ways to do this: Frame the competition as manageable.

Investors Look for These Six Competitive Elements

Startup Professionals Musings

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?” Competitive” should be taken broadly to include alternative ways that people might solve the problem you are addressing.

7 Tips For Success With Today’s Demanding Customers

Startup Professionals Musings

In addition to obvious economic challenges, the emerging generation of customers is determined to radically change the rules for customer engagement. I summarize here my interpretation of his key points: Take heed of serious next generation customer expectations.

Be careful how you define your competition.

Berkonomics

Professional investors laugh when they hear an entrepreneur state, “We have no competition.” It could be that a larger competitor has met with its customers, promising to extend its product line into this very niche. So, do your homework especially well by putting yourself into the minds of your potential customers. Practice overcoming the potential objection long before standing in front of investors, customers or even your board.

6 Ways To Create Experiences That Customers Crave

Startup Professionals Musings

For decades, efforts to satisfy customers have been built around demographics – capitalizing on race, ethnicity, gender, income, and other attributes. Customer personalities define customer experience, and sets what they love, and what they hate.

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6 Key Drivers To a Long-Term Competitive Advantage

Startup Professionals Musings

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?” Competitive” should be taken broadly to include alternative ways that people might solve the problem you are addressing.

7 Steps To Meeting The New Bar Of Delighted Customers

Startup Professionals Musings

Having satisfied customers is no longer enough to keep you ahead of competitors. The bar has been raised to having “delighted” customers. Customer delight is defined as surprising the customer by exceeding his or her expectations, thus creating a positive emotional reaction.

Competition Heats Up For DogVacay, As Rover Gains Funds

socalTECH

The two look headed for a dogfight, as each looks to gain awareness and find customers--not to mention hosts--for their respective services. marketplace petsitting capital venture competition sitting rover dogvacay

7 Strategies For Anticipating Future Customer Trends

Startup Professionals Musings

The market is changing so fast these days, and if you are not planning a solution today for tomorrow’s customers, you may be setting yourself up for failure and don’t even realize it. In addition, most advanced CRM systems will help you analyze your specific customers for directional behavior.

HipTraveler | Taking Startup Competitions by Storm

Tech Zulu Event

In order to support all of these teams, there are several on-campus startup competitions every year, from the Silicon Beach USC competition to the New Venture Seed Competition, with prize funds to help build the companies.

How To Create Customer Value And Profit To Survive

Startup Professionals Musings

As a startup advisor, I see too many entrepreneurs get distracted by technology or their favorite cause, and then wonder why they can’t find an investor, attract customers, or build a long-term business. Customers now put big value on experience, social impact, empowerment, and feedback.

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6 Marketing Tips To Attract Customers To Your Rollout

Startup Professionals Musings

Image via Flickr by jardenberg Your marketing launch is the most important element of startup success these days, to get customer attention in this world of information overload. To get to the core of what’s relevant to customers, you need to know them well.

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Your customers are telling you “Wiw Wiw Wiw!”

Berkonomics

Customer empowerment is moving so fast nowadays that many of us are running to just catch up. Blame the Internet for this rise in customer expectations. But don’t close your eyes to the fact that your customers have grown to expect your products or services in the form of….

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How Great Entrepreneurs Really Listen To Customers

Startup Professionals Musings

Entrepreneurs and business executives seem to be even more focused on their technology than the rest of us, and less inclined to listen to the voice of the customer, even if they remember to ask. I doubt if any of these are really listening to their customers.

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8 Principles For Keeping Customers With You For Life

Startup Professionals Musings

Most businesses spend big money testing their brand logo, catchy marketing phrases, and demographics, but spend little time training and validating that their employees can and do deliver memorable experiences to their customers. They have to out-behave and outperform your competition.

Meet Our Startup of the Year Competition Semifinalists: Mobile Therapy

Tech.Co

From apps to hardware, to KickStarter successes and international startups, we’re inching closer to finding out who will take home the title of Startup of the Year competition at our annual Celebrate Conference in October. Among the dozens of participants that applied for the online competitions, only a few progressed into the semifinals. Co: What was the road like leading up to your initial pitch for the competition?

6 Keys to Marketing Customer Experience vs Products

Startup Professionals Musings

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Now all we hear about is providing the best “customer experience.” Customers don’t want prescriptions - they seek possibilities.

Organic Growth Startups Won’t Scale Competitively

Startup Professionals Musings

Startups are usually so focused on selling more of their branded product or service to their own customer base (organic growth) that they don’t consider the more indirect methods (non-organic growth) of increasing revenue and market share. Fresh customer base.