Here’s how NOT to define your competition

Berkonomics

An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. Email readers, continue here…] Doing nothing is the main competitor for most products and services, whether a compelling new idea or a seasoned product long proven to be effective.

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?

Finding Startup Developers - First Email Contact

SoCal CTO

Here is the most recent version of an all too common email inquiry from a startup founder. The above email is SO BAD that I feel compelled to treat this email as a special case so maybe I can help other founders before they send this email.

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Meet Our Startup of the Year Competition Semifinalists: Picking Duck

Tech.Co

Among the participants that applied for the online competitions, only a progressed into the semi-finals. Tech.Co: What was the road like leading up to your initial pitch for the competition? Manubay: Leading up to the initial, local pitch competition we were pitching to family and friends for practice and for possible investment opportunity.

Be careful how you define your competition.

Berkonomics

Professional investors laugh when they hear an entrepreneur state, “We have no competition.” Email readers, continue here.] Consider the state of the economy. That statement has killed more investment deals than almost any other. It is a failed litmus test for the entrepreneur, even if the plan is for a totally new device or service that could take the world by storm. Well, come to think of it, this is especially true in such an instance.

Fifty years of the internet

TechCrunch LA

How did we go from collaboration to competition, from consensus to dissention, from a reliable digital resource to an amplifier of questionable information? Leonard Kleinrock. Contributor. Share on Twitter.

YouMail Gets New Competition: Google

socalTECH

YouMail offers a voice mail service which allows cell phone users to preview their voicemail messages in email or on the web, convert those voicemails to text, and provide personalized phone greetings to callers, depending on who is calling. However, Alex Quilici, the firm's CEO, told socalTECH that he actually sees something good from the competition.

Contur Sorts Your Email From Clutter To Save You Hours | Interview With The Founders

Tech Zulu Event

According to the founders, Contur is a virtual assistant that sorts and organizes your emails automatically. The founders add that Contur takes all of your emails, groups the related ones together so that you can see your emails in context.

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New Space Era: Global Competition, Transition to Private Projects and Space Tourism

SoCal Tech Calendar

Tuesday, November 24, 2009 -- New Space Era: Global Competition, Transition to Private Projects and Space Tourism. This month's topic is "New Space Era: Global Competition, Transition to Private Projects and Space Tourism." Email stephen_tanaka@jetro.go.jp. The Japan External Trade Organization (JETRO) Los Angeles is hosting their annual 4th Tuesday Technology Exchange event.

Faster is sometimes more valuable than better.

Berkonomics

Dell’s response would be something like “Quality custom computers more quickly than the competition.” And in this company example, both quality and speed are the critical factors in competitive advantage. Which will you want to accent for your competitive advantage?

Your core competency and why not to stray

Berkonomics

It is the one skill, process or advantage you have over your competition. Consider your core. Then think of all the things you do to surround that core with people and assets that complete your company and allow you to release your product or perform your service.

Boy! If I had only learned this before spending a million!

Berkonomics

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. There is no competition.” To state “there is no competition” is always the most-red of all flags to an investor.

One Simple Way to Eliminate Distractions in a Board Meeting

Both Sides of the Table

How to Deal with Electronic Distractions Of course the biggest competition you have with the attention of your board members is their mobile phones. It’s super distracting when your executives are typing away at email while the rest of the board is meant to be engaged in a discussion.

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Timing and why we’re all VCs

TechCrunch LA

Capitalism is fundamentally about timing, since market competition is about finding opportunities before others. Mithril is struggling to compete against ferocious competition in the growth-stage equity market.

Haste makes waste; but to lag is to sag.

Berkonomics

Let’s examine the relationship between time, quality and competitiveness. And the other side of this coin, “To lag is to sag”, addresses the two issues of loss to the competition because of delays in release of a new product, and burning of fixed overhead while products are redesigned.

How to protect your company lists and trade secrets

Berkonomics

Email readers, continue here…] You can expect to have the same attitude if a past employee resurfaces after a layoff, resignation or after being fired, with a plan for a competitive business – or as an employee of a competitor.

What’s a company board good for, anyway?

Berkonomics

Email readers, continue here…] Generative thinkers are relentless in asking questions that get to the core of an idea, often making the originator think more deeply about the effects over a longer period of time.

Do you want to control your business destiny?

Berkonomics

This moment is not to be spoiled by such mundane warnings from advisors or consultants to plan carefully, research the market and competition, and execute the plan with tenacity and enthusiasm. There is nothing quite as thrilling in business as igniting a startup and watching it blossom.

What’s the minimum information to give your investors?

Berkonomics

Email readers, continue here…] Prepare for your annual meetings well. 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.

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Find your “teacher customer.”

Berkonomics

Email readers, continue here…] This is not to bend this insight into a claim that a company should wait to develop new, groundbreaking products and services until a customer asks for them. Your customers know what they want more than you do. Find one to teach you. Close.

Custom 263

The four “P’s” to help you build a great business

Berkonomics

Email readers, continue here…] Then there is the third “P” – performance. You are responsible for the quality of performance that defines an excellent enterprise and assures long life for the company as competition becomes more aggressive and geographically extended. How do you manage a great business, as opposed to be a survivor? Well, here are the four areas you should focus upon every day. Now, some of us remember things better when given a catchy phrase or rhyme.

Help 120

Are you thinking of the end game when managing your business?

Berkonomics

Email readers, continue here…] All businesses and their management should be aware and perhaps planning for the end game, and that includes boards of directors as well.

Class 248

Can you overcome five risks and create wealth?

Berkonomics

Email readers, continue here…] Are you ahead or behind the market with your product or service? And fifth: Competitive risk. . Of course, we are speaking of increased valuation of your company when we speak of “wealth.”

Is your budget a forecast? When do you change mid-course?

Berkonomics

Email readers, continue here…] Note that I used the term “forecast” for revenues for the next year. Hold it! These are confusing terms. When does a budget become obsolete? Do we rely upon constant changes and call it a forecast?

Course 263

Avoid the race to zero…

Berkonomics

Competitors, seeing a successful development of a niche, flock into the competitive void with products or services built with a fresh view of the current environment. When do you sell your company? Obviously we all want to sell at the top. And there is the problem.

So, what if you run out of money?

Berkonomics

Email readers, continue here…] I find it a great thrill to consult to companies and their senior management when they have plenty of “firepower” (extra cash beyond needs) for acquisitions and strategic initiatives. Money in the bank is like oil in the car.

Which is more important: Management quality or a better plan?

Berkonomics

Email readers, continue here…] Here is the conclusion: It is the management team, most often led by a passionate entrepreneur with experience in the industry, which makes the biggest difference between success and failure, even for businesses built upon less than sterling basic ideas.

How to think like a growth CEO

Berkonomics

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? Email readers, continue here…] What works?

Niche marketing works. Here’s how.

Berkonomics

Email readers, continue here…]. You’ll have less competition. Competition is good, but – if there are hundreds of businesses out there that already have gotten to and penetrated this niche – you’re going to find it hard to get through the marketing noise.

Marketing and big data: Finding that needle in the haystack

Berkonomics

Email readers, continue here…] Consider the soon–to–be grandmother checking for gifts for her pregnant daughter. She visits your site for information but does not buy and doesn’t leave an email address for information.

How to make your recurring revenues oil and not glue

Berkonomics

Email readers, continue here…] Well, there are two problems here. And yet, there are many companies where the cost of product renewal and R&D are just too high to keep up with competition.

.Net 248

How to battle the dragon AND avoid the encounter.

Berkonomics

And if that new strategy is proved to be true, the five–hundred–pound gorilla in that niche just moved out of the way of many of its smaller competitors, leaving a market that will surely see a scramble of new competition in the near future.

An experienced coach has seen your movie before.

Berkonomics

If you are lucky enough to create competition among investors for your company, you can select the investor or group with an individual who has experience in your niche and identifies with your vision. Email readers, continue here…] How do you pay a coach?

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What two words are most valuable for your business planning?

Berkonomics

Email readers, continue here…] Another CEO in the group offered his experience with the question chain relative to the availability of isotopes for his company’s medical instrument customers in the event of political turmoil in the countries where the nuclear material was exported.

.Net 156

Catch up to your market or be lost!

Berkonomics

Over the years, I have often heard the complaint from CEO friends that they have become so swamped by the demands of their growing businesses that they feel themselves further and further from the center of their industry, no longer at the forefront of information and competitive development.