Startup Professionals Musings

NOVEMBER 4, 2022

In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. You need to have a technical genius on the team to get your startup product off the ground. The sales professional. The financial suit.

Technical Advisors 123

Technical Advisors Startup Outsource Development High Tech 123

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 125

Competition Entrepreneur Patents Customer 125

Startup Professionals Musings

FEBRUARY 24, 2020

One of the most stressful and unanticipated challenges that comes with starting a new business is hiring and managing employees. While this approach appears to cost more on the surface, it often actually costs you less, when you consider the hidden costs of rework, poor customer satisfaction, employee management, and training required.

Outsource 123

Outsource Startup Technical Review Training 123

Startup Professionals Musings

JULY 15, 2022

You have to be extra tough mentally to start a new business venture. He spent many years with the SEALs, but has since started and built six multimillion-dollar business ventures. To be an entrepreneur or a Navy SEAL, you must first have vision, focus, and the courage to step up to lead. Are you up to the challenge?

Startup 150

Startup Entrepreneur Mentor Training 150

Startup Professionals Musings

JULY 4, 2021

Waste in a startup is any activity that burns resources, but creates no value or competitive advantage in the eyes of customers. While his book goes well beyond controlling waste as an element of growth and success, I was struck by how relevant the waste points are for every startup and every small business. There is no cushion.

Startup 161

Startup Resource Training Entrepreneur 161

Both Sides of the Table

DECEMBER 11, 2022

Something happened in the past 7 years in the startup and venture capital world that I hadn’t experienced since the late 90’s — we all began praying to the God of Valuation. How might our next phase of the journey seem brighter, even with more uncertain days for startups and capital markets? There was no money train.

Venture Capital 466

Venture Capital Startup Marketing Pricing 466

Startup Professionals Musings

SEPTEMBER 21, 2020

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entrée for the first time – you need a recipe, even though it may look simple. Yet you may not be so sure where to start, and how to put it all together. In all cases, don’t skip the basic training. Don’t stand still.

Startup 156

Startup Coach Metrics Marketing 156

Startup Professionals Musings

JANUARY 8, 2021

Young entrepreneurs and startups, in particular, often remain naively unfocused, despite their passion, of what it takes to provide the high-quality service expected. It’s a tough job, and inexperienced entrepreneurs just don’t know where to start, and how to do it. Train and coach continuously. Train and coach continuously.

Startup 154

Startup Training Customer Custom 154

Startup Professionals Musings

FEBRUARY 5, 2021

Thus, financial projections for up to five years are a necessary element in every business plan. Per the words of an old country song, “if you don’t know where you’re going, you will probably end up somewhere else.” If you are losing money on every unit, it’s hard to make it up in volume. Forecast sales-volume expectations.

Startup 147

Startup Pricing Sales Statistics 147

socalTECH

SEPTEMBER 11, 2020

El Segundo-based The List , a startup which operates a matchmaking service for business professionals, is one of four, female-led startups which is part of Beta Boom , a startup accelerator focused on training traditionally overlooked founders, such as women and people of color.

El Segundo 100

El Segundo Startup Invest Training 100

Startup Professionals Musings

APRIL 29, 2023

The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. Start with a service you know and love. You have no shelf life, so you can’t make money while you sleep.

Startup 111

Startup Training Services Writing 111

Startup Professionals Musings

FEBRUARY 14, 2021

This raises a big red flag with potential investors, who conclude that no competitors means no market, or you haven’t looked, and the new startup is likely not investable. First to market, for example, is not normally a sustainable advantage for startups. Startup team with experience and connections is this domain.

Competition 166

Competition Funding Startup Patents 166

Startup Professionals Musings

OCTOBER 6, 2019

You have to be extra tough mentally to start a new business venture. He spent many years with the SEALs, but has since started and built six multimillion-dollar business ventures. To be an entrepreneur or a Navy SEAL, you must first have vision, focus, and the courage to step up to lead. Are you up to the challenge?

Training 87

Training Startup Entrepreneur Mentor 87

Startup Professionals Musings

MARCH 10, 2023

As a startup investor, I often see business proposals looking for funding that really look like expensive hobbies looking for donations. This is the first business process that every startup needs, that I wouldn’t expect to find for a hobby. Show that you have a process to hire, fire, and train others as required.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

FEBRUARY 21, 2022

In my consulting work, when I ask team members in startups and small businesses how they know whether they are doing a good job, the typical response I get is “Nobody has yelled at me today,” or “No news is good news.” A little competition for results is always a good thing. Show confidence in their progress and future.

Startup 133

Startup Mentor News Coach 133

Startup Professionals Musings

JULY 10, 2023

A few years ago, I enjoyed one of Guy Kawasaki’s first books, “ Reality Check: The Irreverent Guide to Outsmarting, Outmanaging, and Outmarketing Your Competition.” Here is a sampling of ten themes from the book that I think are just as relevant today as they were then: The reality of starting. The reality of hiring and firing.

Entrepreneur 99

Entrepreneur Startup Sample Guide 99

Both Sides of the Table

APRIL 3, 2014

Most technology startups seem to be funded by product people or business people. My first startup was no different. I had never had any sales training so everything we did for the first couple of years was instinctual. I had never had any sales training so everything we did for the first couple of years was instinctual.

Sales 382

Sales Help Startup Pricing 382

Startup Professionals Musings

AUGUST 3, 2020

The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. Start with a service you know and love. You have no shelf life, so you can’t make money while you sleep.

Startup 174

Startup Training Services Writing 174

Startup Professionals Musings

AUGUST 14, 2014

This raises a big red flag with potential investors, who conclude that no competitors means no market, or you haven’t looked, and the new startup is likely not investable. First to market, for example, is not normally a sustainable advantage for startups. Startup team with experience and connections is this domain.

Competition 93

Competition Startup Patents Slides 93

Startup Professionals Musings

NOVEMBER 25, 2019

Both are required to stay competitive. I have added my own insights, based on my experience advising and working with entrepreneurs and startups: Pay for results, rather than pay for work. People who get paid by results have every incentive to think up smarter ways of getting work done. Freelancers now make up 35% of U.S.

Competition 127

Competition Case Study Platform Yahoo 127

Startup Professionals Musings

FEBRUARY 3, 2020

This can be an advantage to startups who don’t have the resources and brand awareness of mature businesses, if they understand and position themselves to win in the decisive moments of the new customer buying process. Great startups manage to continually improve the relationship through outstanding follow-on support and service.

Customer 124

Customer Custom Startup Course 124

Startup Professionals Musings

OCTOBER 16, 2023

Thus, financial projections for up to five years are a necessary element in every business plan. Per the words of an old country song, “if you don’t know where you’re going, you will probably end up somewhere else.” If you are losing money on every unit, it’s hard to make it up in volume. Forecast sales-volume expectations.

Startup 116

Startup Pricing Sales Statistics 116

Startup Professionals Musings

MAY 28, 2021

Most entrepreneurs expect to face the “normal” challenges of starting a business, which include finding the right opportunity, building and executing a winning plan, and financing their venture. Yet before you start, you should think about what the impact might be on your psyche, and how to neutralize these challenges in your own plan.

Startup 152

Startup Training Entrepreneur Course 152

Startup Professionals Musings

OCTOBER 31, 2018

The only “sustainable competitive advantage” in business is self-awareness. I was struck by this assertion in a new book, “ The Messy Middle ,” by Scott Belsky, who has spent more than a decade leading in the worlds of technology, design, and startups. It’s a recipe for disaster. Understand the sources of your own negative tendencies.

Competition 81

Competition Startup Examples Coach 81

Startup Professionals Musings

SEPTEMBER 1, 2023

Having the best solution is a good start these days, but a solution alone is no longer enough to keep customer attention and loyalty. Start with feedback from real customers, set measurable objectives, and make sure rewards and incentives are tempered by customer experiences, rather than only internal thresholds.

Customer 106

Customer Custom Startup Competition 106

Startup Professionals Musings

JUNE 18, 2023

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entree for the first time – you need a recipe, even though it may look simple. Yet you may not be so sure where to start, and how to put it all together. In all cases, don’t skip the basic training. Don’t stand still.

Startup 112

Startup Coach Metrics Marketing 112

socalTECH

OCTOBER 11, 2010

Last week, the University of Southern California 's Viterbi School of Engineering announced that it had established a new, business plan competition, the Maseeh Entrepreneurship Prize Competition ([link] specifically aimed at students in the engineering school. Why a business plan competition, and why in engineering school?

Competition 154

Competition Southern California Mentor USC 154

Both Sides of the Table

NOVEMBER 14, 2017

Nearly every successful tech startup I’ve observed over the past 20 years has gone through a similar growth pattern: Innovate, systematize then scale operations. Innovate In the early years of a startup there is a lot of kinetic energy of enthusiastic innovators looking to launch a product that changes how an industry works.

Startup 286

Startup Technical Review Customer Custom 286

Startup Professionals Musings

OCTOBER 30, 2022

This can be an advantage to startups who don’t have the resources and brand awareness of mature businesses, if they understand and position themselves to win in the decisive moments of the new customer buying process. Great startups manage to continually improve the relationship through outstanding follow-on support and service.

Customer 146

Customer Custom Startup Course 146

Startup Professionals Musings

OCTOBER 6, 2023

For the elite startups and entrepreneurs who manage to attract the investor they dream of, and survive the term sheet negotiation, there is still one more hurdle before the money is in the bank. That might start with the CEO giving the investor pitch to the whole organization, and distributing the current business plan document to everyone.

Technical Review 118

Technical Review Startup Satisfaction Invest 118

Startup Professionals Musings

APRIL 21, 2023

As a startup advisor in this age of the entrepreneur, I see many more startups, but innovation is still hard to find. Startups which display real innovation, such as alternative energy sources and new medical treatments, are still rare. Training and coaching. Followers and linear thinkers need not apply. Accountability.

Coach 137

Coach Metrics Competition Ideas 137

Startup Professionals Musings

MARCH 13, 2022

They have the ability to recognize a market need, the skills to design and implement a solution, and the drive to start a business from that solution. In reality, a successful startup can be built by a thought leader, but growing a successful business requires a business leader. It all comes from within themselves.

Startup 147

Startup Competition Entrepreneur Training 147

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

Both Sides of the Table

JANUARY 26, 2013

Understanding “The Funding Angle” I sit at enough board meetings to hear conflicting advice given to entrepreneurs about how to handle PR and announcements at startups. I think many board members (including VCs) were trained 10+ years ago when life was very different and their advice often comes from an outdated lens.

Startup 355

Startup Funding News Press 355

Startup Professionals Musings

JUNE 7, 2020

As a startup investor, I often see business proposals looking for funding that really look like expensive hobbies looking for donations. This is the first business process that every startup needs, that I wouldn’t expect to find for a hobby. Show that you have a process to hire, fire, and train others as required.

Entrepreneur 131

Entrepreneur Outsource Development Startup Competition 131

Startup Professionals Musings

JUNE 25, 2022

In these changing times, if you already have a startup, with no plan, maybe it’s time to think ahead for a change. Do you love managing your own schedule, overcoming obstacles, starting a new adventure, facing financial risk, and relish the opportunity to change the world? Education and training roadblocks. Visualize the future.

Startup 115

Startup Resource Training Ideas 115

Tech.Co

MAY 25, 2018

Fortunately, the Startup of the Year program aims to make it easier for founders to connect with resources. In 2006, a passion to help startups grew into Tech Cocktail , a company whose mission was to showcased burgeoning companies in bars around the country. Greater Fargo Moorhead Economic Development Corporation (Fargo, ND).

Startup 141

Startup Technical Review Competition Software Review 141