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. . Second: Market 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 20, 2023

Most experts agree that the pace of business change is increasing , and all the business owners I know are struggling to keep up, much less surpass the wealth of global competitors now entering the market. Highlight the competitive edge you bring to the market. Use test marketing to identify changes before scale-up.

Marketing 116

Marketing Resource Training Startup 116

TechCrunch LA

SEPTEMBER 7, 2021

But LA-based performance marketing agency MuteSix didn’t wait that long to build its business around scaling DTC brands. If you have growth marketing agencies or freelancers to recommend, please fill out our survey !). In today’s highly competitive ad environment, both content and data are kings. The key takeaway?

Commerce 211

Commerce Content Marketing Startup 211

Startup Professionals Musings

MAY 1, 2022

Marketing is everything these days. Yet I see many technology entrepreneurs that focus on the basics of marketing too little and too late. I like the guidance from marketing coach David Newman’s classic book “ Do It! Don’t fall into the marketing-speak trap. How many customers will have any idea what this means to them?

Marketing 141

Marketing Startup Social Media Technical Review 141

Startup Professionals Musings

OCTOBER 4, 2021

Market and customer positioning. Clearly focusing on the right market and customer profile sets your competitor differentiation. When customers are excited, your team becomes more engaged and productive. Competitive and leadership leverage. A strategy that does not evolve as the market changes is a losing strategy.

Competition 110

Competition Sales Customer Custom 110

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. Second: Market risk.

Outsource Development 200

Outsource Development Ideas Resource Patents 200

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. Scan for unmet needs to match new products. List potential new opportunities outside your domain.

Marketing 162

Marketing Social Media Metrics Customer 162

Berkonomics

JUNE 18, 2015

There are five basic kinds of internal risks than a business faces over time. First, there is market risk. Will the marketplace accept your product? Is there a market for your class of product at all? Market risk is constant and should be of greatest concern to any executive or entrepreneur.

Competition 120

Competition Marketing Class Product 120

Berkonomics

NOVEMBER 24, 2022

In one industry I know well, the dominant player with 22% market share was acquired by one of the largest companies in the technology world. What if you had abandoned that market, reallocated your resources, and focused instead upon other non–competitive geographical or industry segments? Quietly abandon a niche?

Resource 156

Resource Competition Examples Customer 156

socalTECH

SEPTEMBER 29, 2020

Santa Barbara-based whole home audio systems maker Sonos has filed another patent infringement suit at Google , saying that Google has infringed on five wireless audio patents held by the company. The two companies are in a back and forth tussle by the two, as Google has attempted to muscle its way into the home audio streaming market.

Patents 113

Patents Google Santa Barbara Competition 113

TechCrunch LA

AUGUST 19, 2019

Mullenax told me he became interested in this market after working as a finance and operations analyst at Bonobos, where he “fell in love with the [direct-to-consumer] model.” The initial lineup includes body wash ($14), face wash ($14) and face lotion ($15), with plans for more products soon.

Startup 217

Startup Seed Funding Los Angeles Competition 217

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. Microsoft’s success is proof that the best technology is not required in order to dominate a market.

Tips 275

Tips Startup IP Santa Barbara 275

Berkonomics

DECEMBER 20, 2018

I asked him five important questions, which he answered, and I’ve summarized below. These are your candidates, because they are companies already absorbing much or all the marketing expense necessary to make sales of your invention. If a continuing fee, the license could be based upon units of the product incorporating your IP.

IP 136

IP Product Equity Tool 136

Startup Professionals Musings

AUGUST 4, 2019

Marketing is everything these days. Yet I see many technology entrepreneurs that focus on the basics of marketing too little and too late. I like the guidance from marketing coach David Newman’s classic book “ Do It! Don’t fall into the marketing-speak trap. How many customers will have any idea what this means to them?

Marketing 97

Marketing Entrepreneur Startup Technical Review 97

Berkonomics

DECEMBER 20, 2018

I asked him five important questions, which he answered, and I’ve summarized below. These are your candidates, because they are companies already absorbing much or all the marketing expense necessary to make sales of your invention. If a continuing fee, the license could be based upon units of the product incorporating your IP.

IP 120

IP Product Equity Tool 120

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

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. I especially love the ones that start and end by saying “We don’t have any competitors.”

Startup 86

Startup Competition Pricing Framework 86

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

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. Either way you lose.

Competition 94

Competition Startup Pricing Framework 94

Startup Professionals Musings

DECEMBER 7, 2010

It’s not uncommon for me to see a startup business plan “mission” to be the “premier brand” for their product, yet their marketing budget in the financials is trivial. This combination will almost certainly get your plan tossed by potential investors, who understand all too well the need and cost for marketing in today’s environment.

Marketing 94

Marketing Startup Social Media SEM 94

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

OCTOBER 29, 2010

One of the most important questions you will be asked by potential investors is how your solutions beats the competition, not just today, but over the three to five year life of their investment. The concept is called “sustainable competitive advantage.” That implies competitive now, and the potential to stay in the lead.

Competition 89

Competition Patents IBM IBM 89

Startup Professionals Musings

SEPTEMBER 3, 2023

It is no longer enough to just have a great product or service. How to do this right is illustrated well in a classic book, “ Matter: Move Beyond the Competition, Create More Value, and Become the Obvious Choice ,” by Peter Sheahan and Julie Williamson, PhD. Connect with the bigger picture of the market and society.

Company 116

Company Companies Customer Custom 116

Startup Professionals Musings

SEPTEMBER 20, 2023

Starting an entrepreneurial business, or maintaining the competitiveness of a mature business, requires innovation. As a starting point, I like the Wikipedia simple definition of innovation as “the application of better solutions to meet new requirements or market needs.” Innovation must be driven top down by visionary leaders.

Organization 94

Organization Ideas Technical Review Research 94

Startup Professionals Musings

JUNE 13, 2015

Entrepreneurs and startups often ask if they should select only social media for marketing, or stick with digital media, or just count on traditional media. None should be considered competitive mutually exclusive to any other. Social media as a marketing tool is here to stay, and is now widely accepted.

Social Media 108

Social Media Media Marketing Resource 108

Startup Professionals Musings

AUGUST 2, 2015

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. They are also seeking to find out how you handle one of the many tough questions that a new founder will get in today’s market.

Startup 118

Startup Competition Patents Resource 118

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

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. Forecast sales-volume expectations.

Startup 116

Startup Pricing Sales Statistics 116

Startup Professionals Musings

AUGUST 7, 2015

Remember, investors are buying into the business, not the product. Investors are business experts, while the entrepreneur is more likely the product expert. Here are the motivation elements that investors expect to hear: Size and growth potential of the market opportunity. First to market” is not sustainable by a startup.

Product 103

Product Slides Customer Custom 103

Startup Professionals Musings

JANUARY 3, 2021

Starting an entrepreneurial business, or maintaining the competitiveness of a mature business, requires innovation. As a starting point, I like the Wikipedia simple definition of innovation as “the application of better solutions to meet new requirements or market needs.” Innovation must be driven top down by visionary leaders.

Organization 172

Organization Ideas Technical Review Research 172

Startup Professionals Musings

DECEMBER 5, 2014

Marketing is everything these days. Yet I see many technology entrepreneurs that focus on the basics of marketing too little and too late. I like the guidance from marketing coach David Newman’s recent book “ Do It! Don’t fall into the marketing-speak trap. How many customers will have any idea what this means to them?

Technical Review 103

Technical Review Tips Marketing Entrepreneur 103

Startup Professionals Musings

JULY 27, 2018

I’m still amazed at how many technical entrepreneurs don’t have a business pitch, and offer me their product pitch or product spec instead. I’m a technologist, so I always love to learn about the product, but every investor needs to make sure you have a business, as well as a product.

Product 58

Product Slides Entrepreneur Invest 58

Startup Professionals Musings

DECEMBER 23, 2017

Entrepreneurs and startups often ask if they should select only social media for marketing, or stick with digital media, or just count on traditional media. None should be considered competitive mutually exclusive to any other. Social media as a marketing tool is here to stay, and is now widely accepted.

Media 59

Media Marketing Social Media Resource 59

Startup Professionals Musings

AUGUST 12, 2017

Marketing is everything these days. Yet I see many technology entrepreneurs that focus on the basics of marketing too little and too late. I like the guidance from marketing coach David Newman’s classic book “ Do It! Don’t fall into the marketing-speak trap. How many customers will have any idea what this means to them?

Tips 75

Tips Marketing Technical Review Startup 75

Startup Professionals Musings

APRIL 25, 2011

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.

Startup 92

Startup Ideas Competition Demand 92

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. Understanding competitive early mover requirements.

Organization 94

Organization Invest Customer Custom 94