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6 Keys To Predicting The Performance Of Your Business

Startup Professionals Musings

Every business owner and entrepreneur like you I work with wishes they could better predict product demand and sales, for managing inventory and long-term business planning. I was impressed with the analysis and recommendation offered in a recent book, “ Trust the Plan: Demand Management For Business Leaders, ” by Greg Spira.

Metrics 81
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4 Key Components Of Every New Business Financial Plan

Startup Professionals Musings

External investors will demand a financial forecast, but it’s equally valuable to you, even if bootstrapping. Projecting financials is a natural extension of the homework every entrepreneur needs to do on customer opportunity size, product costs, pricing, competition and customer value. Calculate investment amounts and timing.

Startup 116
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7 Keys To A Winning Business As A Phone App Developer

Startup Professionals Musings

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. If you want to drive up the demand for your core product, one smart tactic is to drive down the price of all complementary products.

Develop 138
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6 Initiatives To Prep Your Startup For The Road Ahead

Startup Professionals Musings

The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. Failure rates this high demand a new mindset and startups are the logical place for this to happen. In summary, change will happen.

Startup 116
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7 Business Experimentation Myths That Are Outdated

Startup Professionals Musings

The pace of change to stay competitive in business today continues to increase. In addition, even a small sample size shows statistically valid results for large changes. Even big changes, like a new business model, can have few elements and be validated by an experiment. Changing too many factors at once is never a smart risk.

Sample 124
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10 Startup Founder Decisions That Have No Good Answer

Startup Professionals Musings

That’s not an attractive statistic if you crave control and power. Don’t wait for the harsh reality of the demanding business world to start thinking about these tradeoffs. You can’t have it all, just like your startup can’t be all things to all customers. Marty Zwilling.

Startup 130
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4 Simple Steps Will Get Startup Financial Projections

Startup Professionals Musings

External investors will demand a financial forecast, but it’s equally valuable to you, even if bootstrapping. Check competitor numbers and industry average statistics to get you in the right range. Yet every business requires revenue and volumes, as certainly as it requires a product to sell. Calculate investment amounts and timing.

Startup 147