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?

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.

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Helping Startups Understand Salespeople & the Sales Culture

Both Sides of the Table

Most technology startups seem to be funded by product people or business people. Specifically what is often not in the DNA of founders are sales skills. The result is a lack of knowledge of the process and of sales people themselves. Sales people: Are motivated by cash.

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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.” 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. It could be that a larger competitor has met with its customers, promising to extend its product line into this very niche. That statement has killed more investment deals than almost any other.

Improving Sales: The Excuse Departement is Closed

Both Sides of the Table

Most technology startups seem to be funded by product people or business people. Specifically what is often not in the DNA of founders are sales skills. The result is a lack of knowledge of the process and of sales people themselves. Sales people: Are motivated by cash.

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Meet Our Startup of the Year Competition Semifinalists: Mobile Therapy

Tech.Co

From apps to hardware, to KickStarter successes and international startups, we’re inching closer to finding out who will take home the title of Startup of the Year competition at our annual Celebrate Conference in October. Among the dozens of participants that applied for the online competitions, only a few progressed into the semifinals. Co: What was the road like leading up to your initial pitch for the competition?

The Best Entrepreneurs Are Hyper Competitive & Hate Losing

Both Sides of the Table

Mark Zuckerberg seems to be me to be one of the most talented young technology professionals of his generation and seems to have an amazing vision for technology and product. Competitiveness - One attribute that I believe most VCs look for in entrepreneurs is competitiveness.

Organic Growth Startups Won’t Scale Competitively

Startup Professionals Musings

Startups are usually so focused on selling more of their branded product or service to their own customer base (organic growth) that they don’t consider the more indirect methods (non-organic growth) of increasing revenue and market share.

Helping Consumers Name Their Own Price For Products, With Greentoe

socalTECH

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. However, rather than travel services, it''s for products.

Scaling Sales: Arming & Aiming – Objection Handling

Both Sides of the Table

This is part of a series on sales & marketing. I previously covered how early phase sales teams should be “evangelical&# and consultative in nature. Some objections are real and they end up becoming changes to your product, your service plan or your pricing / bundling.

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Should I license my IP, sell a royalty stream, or just produce products?

Berkonomics

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.

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Should I license my IP, sell a royalty stream, or just produce products?

Berkonomics

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.

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How To Validate Your Innovative Product As A Business

Startup Professionals Musings

In fact, many experienced entrepreneurs argue that constructing a business model around your solution is far more critical and difficult than developing the product. Products too expensive for the market won’t succeed, and prices too low will leave you exposed.

Savvy Entrepreneurs Plan Both Business And Product

Startup Professionals Musings

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. A product plan is never a substitute for a business plan. Opportunity segmentation and competitive environment.

Using Technology to Realize a Competitive Advantage

Tech Zulu Event

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.

Why Startup Product Plans Make Poor Business Plans

Startup Professionals Musings

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. A product plan is never a substitute for a business plan. Opportunity segmentation and competitive environment.

Why Taking Some Risks in the Sales Process Can Improve Results

Both Sides of the Table

Many people are too cautious in sales processes and as a result when they present their solutions they end up sounding milquetoast and undifferentiated from anybody else in the market. In this post I advocate taking a harder stand on where your product or solution differentiates in the market – even if it means you lose some deals as a result. I recently wrote about the three rules of sales. Assume competition and assume within the buying organization you have enemies.

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A Valid Business Model Requires Real Customer Sales

Startup Professionals Musings

We all know the products they give away, and the ones purchased by family and friends don’t count. The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. “Will the dogs eat the dog food?”

Entrepreneurs Need to Master Competitive Selling

Startup Professionals Musings

In my own effort to keep up with the times, I just finished a new book by Landy Chase, titled “ Competitive Selling: Out-Plan, Out-Think, Out-Sell to Win Every Time.” Establish the competitive playing field early. Selling around tough competition.

Why Pitching Your Product Is Not Enough For Investors

Startup Professionals Musings

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.

Startup Pricing: Are You Selling A Giffen Product?

InfoChachkie

A recurring entrepreneurial challenge is to determine the optimal price of a new product, especially absent a directly competitive alternative. Even sales reps will invoke a cost plus logic when negotiating with me on behalf of their customers.

Get Early Customer Sales To Validate Your Business

Startup Professionals Musings

We all know the products they give away, and the ones purchased by family and friends don’t count. The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. entrepreneur startup sales business model business

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Entrepreneurs Confuse Product and Business Plans

Startup Professionals Musings

Why is it that most of the business plans I see are really product plans? I define a product plan as a detailed description of your product or service, with a bit of business thrown in at the end. It’s definitely positive to have a product plan. Competition analysis.

Too Many Bells and Whistles Will Not Sell a Product

Startup Professionals Musings

Technical entrepreneurs love to compare the number of features in their product to competitors, and they love to keep adding features -- just because they can. Even worse, this “feature creep” often makes the final product late to market, sluggish and more expensive than competition.

It Takes a Customer Sale to Prove a Business Model

Startup Professionals Musings

We all know the products they give away, and the ones purchased by family and friends don’t count. The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. “Will the dogs eat the dog food?”

Investors Know A Product Doesn’t Make a Business

Startup Professionals Musings

Why is it that most of the business plans I see are really product plans? I define a product plan as a detailed description of your product or service, with a bit of business thrown in at the end. It’s definitely positive to have a product plan. Competition analysis.

10 Obstacles To Product Adoption That Kill Businesses

Startup Professionals Musings

When entrepreneurs introduce new products to the market, their passion and conviction often leads them to assume that every potential customer will see the immediate need and value, and will quickly adopt the solution. Multiple decision makers required to close a sale.

8 Ways An Investor Pitch Differs From A Product Pitch

Startup Professionals Musings

Remember, investors are buying into the business, not the product. Investors are business experts, while the entrepreneur is more likely the product expert. Competitor positioning and sustainable competitive advantage. Specific elements of your marketing and sales plans.

Learn What Customer Focus Really Means in Sales

Startup Professionals Musings

All the experts these days are talking about the increasing need for customer focus and maximizing sales. and a related article, the single biggest mistake people make is that they try to close the sale too fast. Define the steps of your sales process in customer terms.

Get a View From the Customer to Close Sales Faster

Startup Professionals Musings

All the experts these days are talking about the increasing need for customer focus and maximizing sales. Typically entrepreneurs and even professional sales people think this means more emphasis on the customer selling process, when in fact it really means spending more time understanding the customer buying process (view from the customer). and a related article, the single biggest mistake people make is that they try to close the sale too fast.

Your First Sale Is The Biggest Startup Milestone

Startup Professionals Musings

We all know the products they give away, and the ones purchased by family and friends don’t count. The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. “Will the dogs eat the dog food?”

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Technical Product Elegance is Not a Business Model

Startup Professionals Musings

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. For example, one CEO I know gave away his software product to the first ten customers.

Build a Product-Driven Company

Frank Addante

If you want to manage a hyper-growth company, start with a great product. The best product wins. With a great product comes great customers, and with customers comes revenue and profit, which in turn can be used to build more great products.

Don’t Assume Product Plans are Better Business Plans

Startup Professionals Musings

Why is it that most of the business plans I see are really product plans? I define a product plan as a detailed description of your product or service, with a bit of business thrown in at the end. It’s definitely positive to have a product plan. Competition analysis.

Energica CEO plots her Italian EV company’s reboot from lockdown

TechCrunch LA

The coronavirus pandemic has forced Energica to hit the brakes on production of its battery powered machines that can reach top speeds of 168 mph. general manager ( Stefano Benatti ) — filled more orders in the first two months of 2020 than all its sales for 2019, according to Cevolini.

Some Thoughts about Selling at Startups

Both Sides of the Table

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. My list of excuses includes: product, pricing, competition and lack of sales support.

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Cash control during these strange times

Berkonomics

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.

5 Keys To Business Culture That Are Counter-Intuitive

Startup Professionals Musings

These things are clearly good for morale, but its not so clear that they translate into a competitive advantage. In addition, most business knowledge, such as the reason for a lost sale, is subject to interpretation. business culture competitive entrepreneur Jeff Grimshaw startup

Coach 76

Why buy IT? Why buy MINE? Why buy NOW?

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. Can you, your sales people and your marketing staff answer this succinctly?

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CROWDIMPACT LA Dangles $20K Prize For Social Enterprise Startups

socalTECH

Crowdfunder , the Los Angeles startup led by CHance Barnett, has launched another crowdfunding event aimed at the local industry, saying Wednesday that it has launched CROWDIMPACT LA , a pitching competition which will award $20,000 in a top prize to a winning social enterprise company. The event is similar to CROWDSTART LA, a pitching competition the company launched last year. crowdimpact crowdfunder social enterprise competition funding venture capital crowdfunding

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Here’s Why a Booming Tech Market May Fool You into Thinking You’re Successful

Both Sides of the Table

You’d imagine that companies selling tons of shelfware would quickly meet their deserved fate in the market, yet the spin around a category of software can fool buyers into thinking they “must have this product to compete.” ” Case studies get done with ebullient CEO’s espousing the benefits of said software even though their organization was barely using the product. How frequently they’re using the product? Sales Startup Lessons

Three questions to answer about your COVID response

Berkonomics

Do you still need marketing costs when there is no-one out there buying new product? Are you salespeople making few if any sales because your prospective customers are distracted by their own problems? Most of us are affected by this current crisis.

When Should You Allow Exclusivity in Deals?

Both Sides of the Table

No carrier in their right mind wanted to cede control of the software but Apple was willing to offer its products exclusive through one carrier in exchange for not having any carrier software on the device. Sales is all about knowing the key values of your buyer: What are they trying to achieve in working with you, why do they care about your solution and how will it help them economically? Sales Tech Market Analysis