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The Berkus Method: Valuing an Early-Stage Investment

Berkonomics

The universal truth about projections And in my opinion, all those ten methods fail to take into account the universal truth about the early-stages of growth – that less than one in a thousand startups meet or exceed their projected revenues in the periods planned.

Invest 306
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Know your four “P’s” to build business in a new year!    

Berkonomics

Email readers, continue here…] The second P is for productivity. For example: Hire a great sales person then fail to support him or her with a good marketing effort or a properly priced quality product, and that person will be set up to fail, and for reasons you might have fixed. Enough said. The fourth P is for process.

Resource 156
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Three magic questions to increase your sales:   

Berkonomics

These are so succinct, so well defined, so precise that everyone in sales and everyone involved in marketing must be able to answer these three questions without pause, and convincingly. It would pay you to work over this set of questions in a special session with sales, marketing and senior management in the room at once. Why buy IT?

Sales 156
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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. There are exceptions, based upon cost of sales. What competition would you face? So, here comes the lesson and your challenge….

Pricing 226
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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. If you are training your sales staff, work especially hard on responding to emotional and factual counters to a final close of a sale.

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Some Thoughts about Selling at Startups

Both Sides of the Table

I got an email recently from my friend & fellow VC, Jeff Bussgang from Flybridge Capital Partners in Boston. Jeff (also an HBS alum) co-teaches the LTV course with Professor Eisenmann about a student of theirs who had written a blog post about sales taking on some of my previous assertions.

Startup 319
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Why Recruiting Isn’t Over When an Employee Accepts Your Offer

Both Sides of the Table

It is the bane of every startups existence because it takes up so much time, it is so competitive to sign people and it feels like unproductive time because it’s not moving the ball forward on product, engineering, sales, marketing, biz dev, fund raising. Recruiting. In fact, it’s worse than that. You must win.

Press 341