Berkonomics

MARCH 14, 2019

Especially if you are in the early stage of growing a business, these five risks can and often do derail entrepreneurs before realizing the riches of a great exit. In the creation of your enterprise, there are five principal risks you’ll need to navigate. First: Product risk. . And fifth: Competitive risk. .

Outsource Development 120

Outsource Development Ideas Resource Patents 120

Berkonomics

MAY 16, 2019

The five strategies: Picking one to emphasize. There are five strategic positioning areas for you to consider. There are five niches you can chose when defining your positioning strategy: price, quality, service, innovation, and elegance. So, how do you position yourself to be a stand out? That’s our subject this week.

Company 120

Company Companies Pricing Competition 120

Startup Professionals Musings

OCTOBER 4, 2021

Does your business have a visible positive strategy, or do your customers and employees still see your primary focus as closing more sales and killing competitors? Certainly that has been the strategy of many companies, and has worked in the past, but today’s customers and workers are looking for more. Market and customer positioning.

Competition 110

Competition Sales Customer Custom 110

Startup Professionals Musings

JUNE 26, 2020

For the rest of us, we need a business plan, as well as a product plan. Some of you may be convinced that your product specification communicates the product message even better than a business plan, so why be redundant? Use non-fuzzy terms to quantify customer value. Provide specifics on the customer business model.

Product 169

Product Summary Startup Examples 169

Berkonomics

MARCH 15, 2012

In the creation of a new enterprise, there are five principal risks to be addressed by the entrepreneur. Professional investors will probe these five risk areas and make the decision to invest based upon comfort with each. First: Product risk. Are you ahead or behind the market with your product or service?

Outsource Development 200

Outsource Development Ideas Resource Patents 200

Berkonomics

AUGUST 31, 2023

Know your market and competition, or don’t spend a dime on anything else. In this case, the competition was not from a company but from a new technology. In most cases, it is the competitor with a better product, lower price, faster service, better reputation that is the threat. There is no competition.”

Competition 156

Competition Research Summary Pricing 156

Berkonomics

DECEMBER 29, 2022

Authors Jeanne Liedtka and Tim Oglivie have created a framework for creation of a new product or service – one worth spending at least a cycle of time for review. 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? What wows? What works?

Design 156

Design Framework Ideas Customer 156

Berkonomics

JUNE 18, 2015

There are five basic kinds of internal risks than a business faces over time. Will the marketplace accept your product? Is there a market for your class of product at all? Email readers, continue here…] Second is product risk. Fourth is competitive risk , which consists of two separate risks.

Competition 120

Competition Marketing Class Product 120

Berkonomics

NOVEMBER 24, 2022

Well, even though that acquisition is still playing itself out on the field of battle, it appears quite clear that the new parent has directed its new subsidiary to abandon the lower end of the market and focus upon the larger sales, corporate customers, and major brands. Been skewered for slow customer service? Battle or avoid? .

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Resource Competition Examples Customer 156

socalTECH

MAY 28, 2013

To bring that ability to name your own price on products, Los Angeles-based Greentoe (www.greentoe.com) recently launched, allowing consumers to name their own price to retailers of everything from electronics to baby products. Joe Marrapodi: GreenToe is a name your own price marketplace for products. What is Greentoe?

Pricing 273

Pricing Product Help Sales 273

Startup Professionals Musings

FEBRUARY 11, 2023

Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer. This is the confirmation that your product or service fills a real need in the marketplace. Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring.

Startup 118

Startup Satisfaction Customer Custom 118

Startup Professionals Musings

MAY 29, 2023

In my experience in large businesses as well as years of advising startups, I see far too much focus on product skills, and too little on people and process skills. Diagnosing and understanding the customer problem. When dealing with customers or partners, only win-win deals make sense. Producing results with and through others.

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Startup Sales Entrepreneur Customer 154

InfoChachkie

FEBRUARY 20, 2012

However, his first-hand knowledge of how software is created, tested and commercialized facilitated his execution of Microsoft’s initial strategy, in which it leveraged its operating system to create a suite of business productivity solutions. I am not suggesting you spurn product excellence. Frugal Is As Frugal Does. "Instead

Tips 275

Tips Startup IP Santa Barbara 275

Startup Professionals Musings

SEPTEMBER 3, 2023

Whether you are an entrepreneur starting a new business, or a corporate executive seeking to revitalize a mature business, the challenge is the same – to become the obvious choice within the hearts and minds of your customers, your employees, and your chosen communities. It is no longer enough to just have a great product or service.

Company 116

Company Companies Customer Custom 116

Startup Professionals Musings

OCTOBER 25, 2019

I’m more convinced that technology merely enables disruption, and changing customer interests and needs really causes it. Other companies keep the focus on their customers, and seem to thrive on disruption, much less survive. They make it their top business priority to understand, anticipate, and gratify customers’ needs.

Customer 54

Customer Custom Technical Review Design 54

Startup Professionals Musings

SEPTEMBER 15, 2021

To legally facilitate startups who want to give top priority to socially conscious solutions, thirty-five states, starting with Maryland way back in 2010, have passed legislation allowing incorporation as a Benefit Corporation (B-Corp). Startups can use social responsibility as a competitive advantage.

Startup 149

Startup Organization Customer Custom 149

Startup Professionals Musings

SEPTEMBER 8, 2010

One of the key sections of any business plan is the analysis of the competition. Investors take that to mean either 1) there is no market for your product, or 2) you don’t understand the concept of business and competition. At some level of function, availability, and price performance, customers jump ship away from you.

Startup 86

Startup Competition Pricing Framework 86

Startup Professionals Musings

JANUARY 6, 2021

Every new business I know dreams of building momentum in their business, where growth continues to increase, customers become your best advocates, and employee motivation is high. Unfortunately, with limited resources, this isn’t possible, and it frustrates customers and the team. Focus first on finding more of the right customers.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

Startup Professionals Musings

MAY 16, 2020

Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer. This is the confirmation that your product or service fills a real need in the marketplace. Similarly, it will be very satisfying to see the productivity increases from your leadership and mentoring.

Satisfaction 174

Satisfaction Customer Custom Outsource 174

Startup Professionals Musings

FEBRUARY 8, 2015

Many startups and mature businesses have not yet accepted the fact that customer satisfaction and loyalty in this “always connected” age are about more than product and service quality. They are all about how customers broadcast their pleasure or unhappiness to others. Customer upsell: Sell more to existing customers.

Customer 100

Customer Custom Satisfaction Social Media 100

Startup Professionals Musings

OCTOBER 20, 2023

Potential customers these days rely more and more on name recognition for credibility and new brand adoption. These days, customers are drawn to support worthy causes, such as saving the environment or feeding the hungry. Highlight the competitive edge you bring to the market. Keep your product focus narrow and messages clear.

Marketing 116

Marketing Resource Training Startup 116

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. Using this technique with a supplier And how about a product purchase where you cannot come to a successfully negotiated price with your supplier? What power!

Pricing 156

Pricing Sales Examples Tool 156

Startup Professionals Musings

APRIL 25, 2012

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. Every existing business, as well as every startup, needs to reassess their product or service in the context of these five forces: Intensity of competitive rivalry.

Competition 94

Competition Startup Pricing Framework 94

Berkonomics

JULY 6, 2017

Know your market and competition, or don’t spend a dime on anything else. In this case, the competition was not from a company but a new technology. In most cases, it is the competitor with a better product, lower price, faster service, better reputation that is the threat. There is no competition.”

Competition 266

Competition Research Summary Pricing 266

Startup Professionals Musings

OCTOBER 11, 2013

Many startups and mature businesses have not yet adapted to the fact that customer satisfaction in this “always connected” age is more than product and service quality. It’s more about which customers broadcast their pleasure or unhappiness to others. Customer upsell, selling more to existing customers.

Customer 97

Customer Custom Satisfaction Social Media 97

Startup Professionals Musings

MAY 15, 2022

Big company powerhouses, like IBM and Xerox, took fifty years to make the cycle, but new companies today, in the age of the Internet, often make the cycle in five to ten years, or even less. By definition, most startups begin as a result of some innovation in product, process, or service. Product-line expansion.

Startup 142

Startup Web 2.0 IBM IBM 142

Startup Professionals Musings

JANUARY 22, 2022

Customers pay for solutions, but there is no market for ideas. A related “red flag” in a business plan is a missing competitive analysis section, or a short paragraph that essentially says, “this product has no competition.” Yet most products can be made dramatically cheaper as technologies improve.

Ideas 145

Ideas Startup Tips Competition 145

Startup Professionals Musings

MARCH 25, 2023

Google reached $1B in revenue within five years of incorporation, and now has a market capitalization of over $1 trillion. Twitter showed no focus on revenue in the first five years, but was able to parlay 500M users into a $53B public company, and now growing revenue. High customer loyalty and high team passion.

Organization 94

Organization Invest Customer Custom 94

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

JULY 30, 2021

While you all recognize that reacting to weak market signals is critical to staying in business and staying competitive, I find that many don’t have the skills and focus to trigger change decisions on a timely basis. You may be getting killed today by customer expectations you never worried about just a few years ago.

Marketing 162

Marketing Social Media Metrics Customer 162

Startup Professionals Musings

JUNE 21, 2020

Google reached $1B in revenue within five years of incorporation, and now has a market capitalization of over $1 trillion. Twitter showed no focus on revenue in the first five years, but was able to parlay 500M users into a $35B public company, and now growing revenue. High customer loyalty and high team passion.

Organization 173

Organization Invest Customer Custom 173

Startup Professionals Musings

MAY 1, 2022

You can have the best technology, but if customers don’t know you exist, or they don’t know how your technology solves a real problem for them, your startup will fail. How many customers will have any idea what this means to them? You need to clearly convey what makes your startup the only choice for your customers.

Marketing 141

Marketing Startup Social Media Technical Review 141

Startup Professionals Musings

DECEMBER 20, 2020

Whether you are an entrepreneur starting a new business, or a corporate executive seeking to revitalize a mature business, the challenge is the same – to become the obvious choice within the hearts and minds of your customers, your employees, and your chosen communities. It is no longer enough to just have a great product or service.

Customer 167

Customer Custom Satisfaction Marketing 167

Startup Professionals Musings

OCTOBER 6, 2023

Others schedule exhaustive training sessions for everyone on the team, including showcase customers, to make sure that everyone paints a consistent picture. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad. Status of the solution.

Technical Review 118

Technical Review Startup Satisfaction Invest 118

Startup Professionals Musings

MARCH 28, 2012

A while back, I wrote about the value of Michael Porter’s Five Forces framework for analyzing the competitive environment, and using every opportunity to highlight and emphasize your relative advantages, whether they be price, features, or bargaining power. Exceed customer expectations. Continuous customer service innovation.

Customer 104

Customer Custom Startup Organization 104

Startup Professionals Musings

OCTOBER 16, 2023

Most aspiring entrepreneurs understand that you can’t build a business if you won’t commit to delivering a product or service, but many are hesitant or refuse to commit to any financial forecasts. Yet every business requires revenue and volumes, as certainly as it requires a product to sell. Marty Zwilling

Startup 116

Startup Pricing Sales Statistics 116

Startup Professionals Musings

AUGUST 7, 2015

When pitching to investors, entrepreneurs always seem to start with a customer pitch, then add a slide or two about the business. Remember, investors are buying into the business, not the product. Investors are business experts, while the entrepreneur is more likely the product expert.

Product 103

Product Slides Customer Custom 103