Both Sides of the Table

JANUARY 29, 2010

Competitiveness - One attribute that I believe most VCs look for in entrepreneurs is competitiveness. If you stumble on to a really good idea believe me it will get competitive really quickly. I know that people who aren’t competitive always find competitive people slightly distasteful. Simple example.

Competition 296

Competition Entrepreneur Startup GRP Partners 296

Berkonomics

APRIL 9, 2020

A shocking example of operations affecting cash control. If it takes eighteen months to get a new product out the door and into the market, and if a product’s gross margin is ten dollars but the corporate overhead is a million a month, it will take the sale of 67,000 more units to break even than if it were to take only six months to market.

Competition 156

Competition Sales Marketing Product 156

Startup Professionals Musings

DECEMBER 21, 2013

An example of a startup which used non-organic growth early and effectively was Microsoft. Some people feel that organic growth is “better” because it requires real innovation and sustained effort to create long-term competitive advantage through differentiation and efficiency. Even mergers and acquisitions (M&A) came quickly.

Organization 97

Organization Competition Startup Acquisition 97

Berkonomics

OCTOBER 21, 2021

Salaries or hourly wages must be within reasonable limits set by the industry and matched by the competition, both regionally and for the same job classification. And there are some industries where tools such as stock options are considered mandatory for a company to be competitive. More examples of gaming the system.

Design 156

Design Examples Competition Pricing 156

Startup Professionals Musings

MAY 14, 2021

For example, I believe that Starbucks surprised most people by proving that they could take a commodity business, a coffee shop, and make it a worldwide profit winner, just by justifying premium pricing with a quality product, the right locations, personalized service, and appealing to the professional customer personas.

Pricing 145

Pricing Startup Competition Examples 145

Startup Professionals Musings

DECEMBER 2, 2022

There are no “overrides” – for example, businesses don’t thrive just because they offer the latest technology, or because everyone wants to be “green,” or because their goal is to reduce world hunger. A target market is the group of customers that the startup plans to attract through marketing and sales their product or service.

Sales 102

Sales Customer Custom Outsource 102

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. When sales fall off, you need to dig deep for the “why,” rather than just assuming the price needs to go down.

Marketing 162

Marketing Social Media Metrics Customer 162

Startup Professionals Musings

AUGUST 9, 2023

In these cases, you need testimonials, usage details, and return-on-investment examples. Multiple decision makers required to close a sale. Many healthcare solutions, for example, may appear to have great value to patients, but require doctors to feel safe, and insurance companies to approve.

Case Study 89

Case Study Customer Custom Study 89

Berkonomics

JULY 26, 2018

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.

Sales 226

Sales Customer Custom Pricing 226

Startup Professionals Musings

NOVEMBER 15, 2020

In these cases, you need testimonials, usage details, and return-on-investment examples. Multiple decision makers required to close a sale. Many healthcare solutions, for example, may appear to have great value to patients, but require doctors to feel safe, and insurance companies to approve.

Case Study 174

Case Study Startup Customer Custom 174

socalTECH

JULY 17, 2019

For example, there's that issue if dealers don't have inventory on the lot. Gina Callari: That's our competitive advantage. Do you see your content being used by dealers using AR or VR, or are you expecting this to be used more at home by consumers directly? Isn't it very expensive to capture all this imagery?

Sales 124

Sales Research Content Edmunds 124

Startup Professionals Musings

OCTOBER 31, 2022

If you are a genius at invention, for example, then that is the role you should seek to keep you motivated and productive. I like his model and examples from the field to help you identify the type of work that is your forte, and will likely bring you joy and energy, rather than frustration and burnout.

Activity 108

Activity Satisfaction Metrics Startup 108

TechCrunch LA

DECEMBER 8, 2020

He did note that in the four markets where the company has gone live since launching its business in January 2019 — San Diego, Los Angeles, the Inland Empire , and Sacramento — has yielded an annualized revenue run rate of over $400 million in gross merchandise value (the total value of home sales transacted on its platform).

Sales 282

Sales Demand San Diego Funding 282

Startup Professionals Musings

JANUARY 11, 2020

For example, Uber recently made the move into food delivery with UberEATS. Expand into key new sales and delivery channels. Today the Internet is the best example of a new sales and delivery channel that has transformed many businesses, and killed others. When was the last time you tested on of these channels?

Customer 143

Customer Custom Examples IBM 143

Startup Professionals Musings

MAY 26, 2023

New offerings which build your brand will increase acceptance and sales of all solutions, not just the new one. You will find that customers discount advertising, and look for user testimonials, online influencer reviews, and return-on-investment examples from industry experts. Solution may require new category development time.

Product 141

Product Services Technical Review Artificial Inteligence 141

Startup Professionals Musings

JANUARY 6, 2021

Your focus for momentum could be sales, profitability, or number of customers, but trying to keep all possible parameters growing is simply not practical. In most companies, maintaining momentum requires the right strategic partners and acquisitions, in lieu of short-term price adjustments and special sales.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

Tech Zulu Event

MARCH 19, 2015

Computers and the Internet have now brought in a new era that relies on data to make profitable business decisions in the competitive environment. Below is a full explanation of how small businesses can leverage technology to earn a competitive advantage in the marketplace. Cloud Services. Images via Shutterstock. .

Competition 40

Competition Technology Social Media Tips 40

Startup Professionals Musings

OCTOBER 23, 2021

Some investors seem to focus wholly on the strengths of the management team, or a sustainable competitive advantage, and in reality these are the core attributes for every funding equation. This is not just sales traction, but a proper balance between resources, product, and customers. A startup must gain balanced traction.

Education 151

Education Customer Custom Sales 151

Startup Professionals Musings

JUNE 23, 2021

For example, I commonly see metrics to keep track of revenue per employee, overtime, and absenteeism, but I don’t often see measures of overall customer satisfaction with individual employees. Relationships also build loyalty, get referrals, and drive more sales. Provide training, tools, and required decision authority.

Customer 147

Customer Custom Technical Review Metrics 147

Startup Professionals Musings

APRIL 29, 2023

On the product side, once you have a proven product and business model, all you need is money to build inventory, and a sales and marketing operation to drive the business. With services, scaling the business often implies cloning yourself, since you are the intellectual property and the competitive advantage.

Startup 111

Startup Training Services Writing 111

Both Sides of the Table

JULY 21, 2014

I remember, for example, when business intelligence swept through companies globally. Have sales bonus plans based on more than just sales targets. These can’t be the main event – sales are sales after all – but can help shape good behavior. Sales Startup Lessons'

Marketing 354

Marketing Case Study Metrics Sales 354

Startup Professionals Musings

JUNE 20, 2022

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 111

eBook Metrics Examples Startup 111

Startup Professionals Musings

JUNE 26, 2020

A business plan is the outward facing definition of the business you hope to drive with your hardware solution, with a hardware overview in the intro to highlight customer value and competitiveness. For example, “We just patented a new battery technology that will cut your smartphone charge time and cost in half.” and trademarks.

Product 169

Product Summary Startup Examples 169

Berkonomics

OCTOBER 13, 2016

Yet, there are constant examples of new entrants into a niche that grow, prosper and sometimes even become dominant. There’s an example of avoiding the encounter and losing the lead position when an opportunity to compete surfaces unexpectedly. At least that is the conventional wisdom. So when do we know which course to take?

Resource 120

Resource Competition Examples Customer 120

Startup Professionals Musings

APRIL 17, 2022

Very few entrepreneurs have the range of skills and experience to be the solution creator as well as business creator, or operational as well as sales leader. A good overall example is the synergy between Google co-founders Sergey Brin and Larry Page, as well as long-time Executive Chairman Eric Schmidt.

Software Review 154

Software Review CTO Hire Outsource Development Startup 154

Startup Professionals Musings

AUGUST 3, 2020

On the product side, once you have a proven product and business model, all you need is money to build inventory, and a sales and marketing operation to drive the business. With services, scaling the business often implies cloning yourself, since you are the intellectual property and the competitive advantage.

Startup 174

Startup Training Services Writing 174

Startup Professionals Musings

SEPTEMBER 22, 2021

For example, Blake Mycoskie of TOMS Shoes attributes his ability to raise a seed round and build a $400M company to his commitment to provide a free pair of shoes to the underprivileged for every pair sold. You need to show you have a “Plan B,” and a never-give-up mindset, in handling any competitive threat or customer reaction.

Ideas 140

Ideas Entrepreneur Equity Resource 140

Startup Professionals Musings

AUGUST 27, 2023

Measure progress through metrics on sales, revenue, and penetration. For example, Toms shoes achieved success by donating a pair of shoes for every pair sold. These start with your brand image, search visibility and process, and extend to the actual sales transaction. Seek to dominate your market over competitors.

Customer 91

Customer Custom Marketing Startup 91

Berkonomics

MAY 16, 2019

Certainly Walmart, Target and others have gotten the attention of their potential customers using price as the primary leader to drive sales. Ford recently returned from the land of the nearly-dead to become not only profitable but a desirable alternative to the dominant Japanese cars by emphasizing quality at competitive prices.

Company 120

Company Companies Pricing Competition 120

Startup Professionals Musings

NOVEMBER 23, 2022

In many cases, the ideas may be small ones, such as starting a promotion to kick-start sales on a stalled item, or suggesting a huge strategy move to acquire Netflix and supplement an already healthy Blockbuster DVD rental business. Your challenge is to show examples of forward-thinking companies that are ahead by doing things differently.

Ideas 116

Ideas Netflix Resource Customer 116

Startup Professionals Musings

MARCH 3, 2021

For example, it’s great to pursue a higher purpose, like feeding the hungry, but don’t forget that running any business is a hungry mouth you have to feed. For example, if you have ever watched the Shark Tank show on TV, they always ask about the cost of customer acquisition. Postulate competitive reactions and your responses.

Entrepreneur 162

Entrepreneur Social Media Examples Metrics 162

Startup Professionals Musings

JANUARY 25, 2019

Image via Flickr by Alan Most of you who start new ventures don’t think of yourselves as sales experts. Yet in today’s competitive and rapidly changing world, top notch sales and marketing skills are critical to the success of every business. Stand tall - keep your fears and doubts to yourself.

Mentor 90

Mentor Startup Sales Examples 90

Startup Professionals Musings

SEPTEMBER 4, 2020

Here are some key ways that personal stories can raise your message above the standard sales pitch: Show that you are authentic and deserve their trust. Don’t expect your storytelling to be a substitute for basic business plan content, including competitive analyses and financials.

Startup 145

Startup Competition Customer Custom 145

Startup Professionals Musings

FEBRUARY 5, 2020

See the story of Elizabeth Holmes and Theranos for an example of product snags leading to a disaster. Funding is depleted before customer sales ramp up. Your customers and competition make unexpected moves. Marketing and sales take more time and effort than anticipated. The world today never stands still.

Startup 131

Startup Entrepreneur Examples Customer 131

Both Sides of the Table

DECEMBER 27, 2011

The most obvious way to explain this is with sales people. If you hire 6 sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business for 4-6 months. For example, look at the following graph.

Startup 418

Startup Venture Capital Sales Technical Review 418

Berkonomics

JANUARY 26, 2017

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. Just think of the second tool, terms, you can use creatively to bridge that gap, whether driven by seller’s ego or competitive necessity. It’s an easy rule to remember.

Pricing 120

Pricing Sales Tool Equity 120

Berkonomics

APRIL 4, 2019

Summarizing income statements with a line for revenues, cost of revenue, general and administrative expenses, sales and other direct costs – all leading to net income, would satisfy the legal requirement for statement of income and expense. Requirements created by investment documents.

Class 120

Class Course Report Competition 120