Startup Professionals Musings

AUGUST 21, 2020

It may not seem fair, but passion and commitment alone are not enough to make your startup successful – every business needs critical resources and favorable location-specific conditions. Many of you are convinced that it’s all about finding investors, but my experience indicates that the critical resources needed go far beyond money.

Resource

Startup Professionals Musings

MAY 27, 2022

In my experience as a business advisor, most organizations, large and small, struggle to keep up with the pace of change and competitive forces today. A question I often get is how to transform that overall team into a smooth-running machine that will keep up with the pace of market change, and competition in today’s world.

Competition

Startup Professionals Musings

JUNE 2, 2021

In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global. As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today.

Competition

Startup Professionals Musings

DECEMBER 14, 2019

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. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.

Competition

Startup Professionals Musings

JUNE 15, 2020

As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition. Every business area has competition and every customer has alternatives, so a smart entrepreneur needs to acknowledge these as a positive in defining a big market, and position the features of a new solution in this context.

Competition

Startup Professionals Musings

MARCH 17, 2023

As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition. Every business area has competition and every customer has alternatives, so a smart entrepreneur needs to acknowledge these as a positive in defining a big market, and position the features of a new solution in this context.

Competition

Berkonomics

JULY 20, 2023

An important part of the budget is expected revenue for the coming year, a critical factor in setting hiring and resource expectations for the year. Otherwise, it is the expectation of the board of directors of a company that each year’s budget be approved in advance and adhered to as long as revenue goals are met.

Resource

Berkonomics

APRIL 11, 2019

An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. We investors see this all the time. When asked (as we always do,) the response is “This is new. Professional investors laugh when they hear an entrepreneur come out with that one.

Competition

Berkonomics

JULY 4, 2013

But for most, the true sign of success and potential for even more is in the landing of a major account, one that validates the pricing, quality and competitive advantages of a company’s offering. For this reason alone, it makes sense for most of us to aim high once we have worked the kinks out of our offering with smaller customers.

.Net

Berkonomics

MAY 2, 2012

Here’s one to help you with squeezing the most out of your available resources. And if there are people depending upon the output of that wrongly-placed individual, they too will suffer from reduced resources to complete their jobs. Some of us remember things better when given a catchy phrase or rhyme. The first “P” stands for people.

Resource

Both Sides of the Table

MARCH 30, 2011

Facebook, Google) to a large market opportunity then you had better have enough resources to compete. We made mistakes ourselves that proved to us that you can’t make markets move faster than they inherently want to just by throwing more resources at them. And ever since then I have been reluctant to over-resource tech projects.

Development Team Review

Berkonomics

NOVEMBER 9, 2017

So, aiming a brand-new smartphone full of great features but increased complexity using AARP Magazine as your marketing resource just won’t get the job done. You’ll have less competition. When you do connect with your niche, you will have resources to expand and alter your message for the next niche and then the next.

Marketing

socalTECH

JANUARY 17, 2013

The coworking space now has plenty of competition (ROC in Santa Monica, Nextspace @ Amplify, NextSpace Culver City, IO/LA, Coloft), but it appears there are enough entrepreneurs and others with an interest in coworking and temporary space that multiple providers are needed to support the community.

Culver City

Both Sides of the Table

MAY 3, 2015

The rest of our partners, principles, associates and EIRs can weigh in with commentary on their views of the quality of the entrepreneur, the market, the product, competition and so forth. I watch management team hedge by building multiple products and spreading resources too thinly versus having strong conviction in their core ideas.

Startup

Berkonomics

JUNE 1, 2017

An important part of the budget is expected revenue for the coming year, a critical factor in setting hiring and resource expectations for the year. But during the year, if the forecast revenues fall short or are greatly exceeded, it is fair to revise the budget and rethink your hiring and resources.

Course

Berkonomics

AUGUST 17, 2017

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. There is little need to reinforce the obvious.

Software Review

Both Sides of the Table

JUNE 20, 2013

Having a good sales methodology can help you ensure your company runs more disciplined campaigns and focuses scarce resources on your best opportunities. So I often work with teams to get them to codify the key things they do well that the competition does not. The first post covered the topic of “P” or pain.

Sales

Startup Professionals Musings

JANUARY 23, 2021

In reality, resource constraints should be seen by startups a competitive advantage, by forcing them to develop new markets, and to think differently and act differently than existing players. The result, called resourcefulness, allows entrepreneurs to create opportunities in the face of scarcity. Create new kinds of solutions.

Startup

Startup Professionals Musings

OCTOBER 4, 2021

Competitive and leadership leverage. A good strategy provides opportunities for internal actions and leaders to optimize and extend a firm’s competitive advantage. Every business, especially startups, have limited resources to implement tactics, so they need to be totally clear on the strategy first.

Competition

Berkonomics

SEPTEMBER 20, 2012

The board then assures that management receives or has resources to affect the vision, monitoring progress at each step. The board provides input into that vision, testing it against their experience and reason, and challenges it as a part of its duty to protect the shareholders and care for the corporate asset.

Resource

Startup Professionals Musings

FEBRUARY 14, 2021

Startups simply don’t have the resources to keep ahead of large competitors who see initial traction and go after it. Competition for your new hydrogen fuel auto engine is not limited to other hydrogen auto engine offerings, or even other autos. First to market, for example, is not normally a sustainable advantage for startups.

Competition

Both Sides of the Table

SEPTEMBER 15, 2014

Many questioned whether it could survive under the fail whale, inevitable competition from Facebook, founder fighting, fights with 3rd-party developers let alone become a revolutionary business that could make money. When Fred Wilson funded Twitter I guarantee you it wasn’t obvious that it was a billion dollar idea. Far from it.

Funding

Berkonomics

APRIL 24, 2014

Although that is still a good idea in many cases, there is a recent alternative available to some entrepreneurs on a competitive basis that seems most attractive and positive. I used to tell them to find a partner with knowledge in business creation and management.

Coach

Berkonomics

DECEMBER 7, 2017

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. We had no term for such work in those days, and created the phrase “resource capitalist” to describe the person and process.

Coach

Both Sides of the Table

JUNE 4, 2013

Put simply – you need enough users in a segment who care about what you’re doing to dictate investing further in the product or in sales & marketing resources. You need product / market fit. If you solve a deep problem for a niche user group but not enough users have the problem you won’t achieve product / market fit.

Startup

Berkonomics

JANUARY 11, 2018

But sometimes there is a barrier, an impossibly high cost not considered, a social backlash never thought of, or competition already covering the idea that is unknown to the originator. Strategic thinking: Board members who ask: “What is the competitive landscape?” Which leads us to the second class of creative board thinking….

Company

TechEmpower

AUGUST 7, 2023

Increasing competitive advantage? More on the Role of the Startup CTO Eric Ries, a great resource, answers the question What Does a Startup CTO actually do? What does it mean to be a CTO for a startup? What does the role demand? Should a startup CTO spend their time programming? Exploring new technologies? The answer is: it depends.

CTO Hire

Startup Professionals Musings

JULY 5, 2021

Today you can start a new web site business for as little as $100, produce cheap smart phone apps, or lead the effort to tap the multitude of opportunities brought by capitalizing on our concern for dwindling natural resources. The tighter the loop, the greater the value captured and the stronger the competitive differentiation.

Startup

Berkonomics

DECEMBER 5, 2013

It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you’ve researched, or selected, or even just guessed at to create your plan. Where did you get the data to drive your assumptions of market size or market share?

Metrics

Berkonomics

JUNE 16, 2022

For larger or later stage companies, it could be to increase market share through acquisitions with the attendant elimination of competition or increase in a company’s reach. Yes, if you are a bad leader of people, you will lose human resources and frustrate your attempt to reach to goal. Have you stated a goal for others to follow?

Resource

Berkonomics

MAY 28, 2020

But for most, the true sign of success and potential for even more is in the landing of a major account, one that validates the pricing, quality and competitive advantages of a company’s offering. Aim high for that major account. How large a fish can you handle?

.Net

Berkonomics

MARCH 15, 2012

Fourth: Financial risk. Any new enterprise is at risk if there are not enough resources to get the company to breakeven, which is a proxy for stability. And fifth: Competitive risk.

Outsource Development

Berkonomics

NOVEMBER 24, 2022

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 for new competition in the near future. How could you compete with the gorilla? The answer is found in defining the niche itself.

Resource

socalTECH

JUNE 20, 2012

We've created a heads down environment, where companies are not competitive with each other, but you've got serious, smart people in a productive working environment. Companies like Addroid provides resources for design. These collaborative resources they provide to each other are an incredible value.

Class

Startup Professionals Musings

OCTOBER 11, 2023

Most new business owners I know feel the challenges of not enough time, money, and resources, and see these as problems rather than a competitive advantage. You won’t be doing anyone any favors by keeping resource challenges and reductions to yourself. Share constraint info and ask team to help.

Resource

Both Sides of the Table

JANUARY 28, 2012

I recognize there is an issue with resource scarcity. Use that as a source of competition. I think starting as an extension if your mobile strategy makes sense due to resource scarcity. Or do you think most mobile developers should concentrate their resources on being MEMO (Mobile Excellent but Mobile Only)?

Web

Both Sides of the Table

FEBRUARY 17, 2011

Only … ONLY … if there’s a sense of competition on the deal. But if you’re on the precipice of a big market opportunity then having more capital & resources can be critical. The other thing I ask entrepreneurs to consider is what will happen to competition in a market. How do you push valuation?

Help