Startup Professionals Musings

JULY 30, 2021

The recent pandemic was a strong signal for change, and I see most of you entrepreneurs and business owners responding to the business changes required and new opportunities presented. Of course, no business wants to be the next Blockbuster , which kept charging straight ahead despite subtle clues that the Internet was changing everything.

Marketing 162

Marketing Social Media Metrics Custom 162

Startup Professionals Musings

AUGUST 28, 2022

Many entrepreneurs still don’t understand that building a business culture today of doing good, like helping people (society) and planet (sustainability), is also a key to maximizing profit. Employees and customers alike are looking for meaning, not simply employment and commodity prices. Doing business is a human process.

Organization 143

Organization Startup Pricing Custom 143

Startup Professionals Musings

MARCH 20, 2021

Entrepreneurs who are great problem solvers within any business are the best prepared to solve their customers’ needs effectively as well. In fact, every business is about solutions to customer problems – no problems, no business. Select a solution, any solution, and then decide on a course of action. Make a decision.

Startup 156

Startup Entrepreneur Sales Course 156

InfoChachkie

OCTOBER 27, 2011

Reasonable people will attempt to make the best of the status quo – unreasonable entrepreneurs with the proper dose of Confidence, Courage and Conviction will shape the status quo to facilitate your adVenture’s ultimate success. As made clear in Optimistically Pessimistic , most entrepreneurs’ experiences are not linear.

Entrepreneur 252

Entrepreneur Paramount Startup Organization 252

Startup Professionals Musings

JUNE 7, 2015

Many entrepreneurs still don’t understand that building a business culture today of doing good, like helping people (society) and planet (sustainability), is also a key to maximizing profit. Employees and customers alike are looking for meaning, not simply employment and commodity prices. Doing business is a human process.

Entrepreneur 117

Entrepreneur Organization Startup Pricing 117

Both Sides of the Table

FEBRUARY 9, 2014

I often talk about what I’m looking for when I meet with an entrepreneur. Above all else I’m looking for a genuine passion for what the entrepreneur is doing. Of course passion isn’t enough. So of course I want (need) to make money for my investors (LPs). But the two can of course go hand-in-hand.

Venture Capital 373

Venture Capital Startup Course Entrepreneur 373

Startup Professionals Musings

JUNE 2, 2023

If you aren’t willing to take some risk as an entrepreneur, then don’t expect any gain. Here is my perspective on the highest risk elements, from my years of working with investors and watching startups come and go: All the co-founders are first-time entrepreneurs. New drugs usually fall in this category, due to side-effect testing.

Invest 98

Invest Sites Technical Review Social Media 98

Both Sides of the Table

MAY 6, 2018

The best entrepreneurs in our industry focus on it year-round as opposed to just once every 18 months. But if there is nothing wrong with you then please don’t let early rejections alter your course. The investor is a customer and they have money to spend but only for a limited number of companies. Let me give you an example.

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Funding Venture Capital Startup Entrepreneur 236

Startup Professionals Musings

MAY 15, 2020

As an angel investor, I see plenty of startups focusing on building an innovative product, but I’m looking for the few who are also leading with an exponential growth strategy, to put them in the category of the next Amazon or Google. Let your highly motivated customers be your best marketing advocates for new customers.

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Marketing Startup Examples Custom 170

Startup Professionals Musings

DECEMBER 28, 2019

Every entrepreneur I know is dismayed by the number of friends who approach them with a line such as “I have an even better idea that will change the world, and one of these days I’m going to get around to starting my own business.” Focus” is the key to success as an entrepreneur. Irrational fear of failure or embarrassment.

Startup 126

Startup Ideas Entrepreneur Knowledge Base 126

Startup Professionals Musings

MAY 7, 2021

The tougher question is whether you are also wise, in the sense of cultivating the right relationships, understanding team dynamics, and keeping to the correct side of the ethical line to maintain the trust of team members and customers alike. This locked in engagement from his employees and customers.

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Patents Mentor Custom Customer 138

Startup Professionals Musings

SEPTEMBER 7, 2020

If you aren’t willing to take some risk as an entrepreneur, then don’t expect any gain. Here is my perspective on the highest risk elements, from my years of working with investors and watching startups come and go: All the co-founders are first-time entrepreneurs. New drugs usually fall in this category, due to side-effect testing.

Startup 126

Startup Sites Technical Review Social Media 126

Startup Professionals Musings

FEBRUARY 6, 2013

Anyone who works with entrepreneurs will tell you that all are different. Others are really marketers out to make money fast, and believe that they can entice customers to any offering. Many might say Donald Trump epitomizes this category. The Opportunist is the speculative part of the entrepreneur in all of us.

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Entrepreneur Mentor Framework Web 96

Startup Professionals Musings

NOVEMBER 23, 2019

Many entrepreneurs still don’t understand that building a business culture today of doing good, like helping people (society) and planet (sustainability), is also a key to maximizing profit. Employees and customers alike are looking for meaning, not simply employment and commodity prices. Doing business is a human process.

Organization 128

Organization Startup Pricing Custom 128

Both Sides of the Table

NOVEMBER 18, 2012

It’s what life was like as an entrepreneur. But this is nothing like the stress of being an entrepreneur. What’s it really like being an entrepreneur? You probably follow some high-profile entrepreneurs on Instagram and Twitter and see conference pictures of them in Davos, Mexico, Monaco or wherever.

Blogging 420

Blogging Press Entrepreneur Venture Capital 420

socalTECH

APRIL 1, 2019

com), which is developing analytics software which leverages mobile phones for data on customers. Portnoy is a serial entrepreneur, having previously founded ThinkNear, a startup which went from the Techstars startup accelerator to an exit in only 14 months. Our goal, is how do we empower business leaders to make better decisions.

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Startup Culver City Competition Custom 113

Startup Professionals Musings

OCTOBER 2, 2019

Even worse, many entrepreneurs don’t even take the time to monitor what people are saying about them to others. If you find yourself and your business in one of these categories, it’s time to heed the steps I recommend to every business client today: Ask for a good review from every satisfied customer.

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Custom Customer Examples Sites 86

Both Sides of the Table

JULY 21, 2014

I’d like to do a few posts on what life looks like on the way up and perhaps how to keep your head on straight and avoid drinking your own Kool Aid because as I often advise entrepreneurs on irrational exuberance, “ In a strong wind even turkeys can fly.” Poorly implemented this category was the definition of shelfware.

Marketing 354

Marketing Case Study Metrics Sales 354

Both Sides of the Table

JUNE 28, 2018

My friend Michael Broukhim, founder & co-CEO of FabFitFun and I recently had a catch-up meeting for 3-miles on the Santa Monica “Bird Trail” No company has ever elicited so many questions by friends, colleagues, entrepreneurs, fellow VCs and journalists as has Bird, the company that pioneered the electronic scooter as a service market.

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Santa Monica Funding Startup Course 256

Startup Professionals Musings

SEPTEMBER 8, 2018

In fact, I often have to tell aspiring entrepreneurs that their inventions have zero value, at least not until they are put in the context of a business plan, with qualified people committed to executing the plan. Early-stage ideas fall in the same category. You need a viable business model and customers. Don’t get me wrong.

Technical Review 86

Technical Review Patents Ideas Journal 86

Both Sides of the Table

JANUARY 14, 2014

In fact 61% of all mobile searches where a customer contacts a business it is via a phone call (source: Google). Of course that website isn’t completely up to date but it’s a great resource for seeing the overall picture. Of course unsolicited spam has very low open rates and is filtered by the major providers.

Email 339

Email SaaS Venture Capital Google 339

InfoChachkie

DECEMBER 2, 2009

As noted in Pour and Stir Part I , the key to the successful execution of this strategy is managing the following equation: The cost to acquire a customer < lifetime value of a customer. Decreasing Your Customer Acquisition Costs. This is equivalent to being handed a free customer for every ten customers you acquire.

Custom 164

Custom Customer Advertising SEM 164

InfoChachkie

AUGUST 8, 2011

You have to make the most of the cards dealt to you, both in poker, and when charting the course of your adVenture. You may develop a winning product that customers are willing to buy, but all is for naught if you do not have the cash to execute your plan and deliver upon your product’s value proposition.

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Startup Entrepreneur Competition Guide 207

Startup Professionals Musings

JUNE 21, 2019

If we build it, they will come ” may have worked as a movie theme for Kevin Costner, but as an investor, I tell entrepreneurs a great solution is not enough. Of course, the best evidence is you have done it before, and succeeded more often than you failed. Impression amplifiers: actions to get attention and credibility.

Product 93

Product Ideas Resource Capital 93

Both Sides of the Table

JUNE 17, 2017

I often ask entrepreneurs to consider, “What’s your objective? I want to understand how many units the company is selling, whether this is increasing over time and how well they’re doing at retaining the customers that they do acquire. The Nature of Revenue Matters Of course revenue alone won’t tell you enough.

Startup 227

Startup Venture Capital Sales Course 227

InfoChachkie

JULY 26, 2010

Entrepreneurs can emulate de la Guerra’s strategy and make their adVenture appear far larger than reality and thus increasing its influence and market reach while discouraging competitive threats by creating an industry alliance. This last category proved to be especially lucrative. True differentiator to each member’s products.

Entrepreneur 168

Entrepreneur Santa Barbara Startup Conference 168

Startup Professionals Musings

JULY 18, 2014

In fact, I often have to tell aspiring entrepreneurs that their inventions have zero value, at least not until they are put in the context of a business plan, with qualified people committed to executing the plan. Early-stage ideas fall in the same category. You need a viable business model and customers. Don’t get me wrong.

Ideas 106

Ideas Technical Review Patents Entrepreneur 106

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. According to a recent article in Entrepreneur , 94% of small and medium businesses (SMBs) now use social media as a marketing tool, and 81% use it to drive growth.

Social Media 108

Social Media Media Marketing Resource 108

Startup Professionals Musings

MAY 25, 2015

Every entrepreneur I know is dismayed by the number of friends who approach them with a line such as “I have an even better idea that will change the world, and one of these days I’m going to get around to starting my own business.” Focus” is the key to success as an entrepreneur. Irrational fear of failure or embarrassment.

Startup 114

Startup Entrepreneur Ideas Knowledge Base 114

Startup Professionals Musings

NOVEMBER 21, 2016

Others, like Guy Kawasaki , have irreverently called some of these “entrepreneur lies,” but I prefer to think of them as innocent enhancements or omissions that can kill your deal. Lead with your intent to offer the solution free to customers. Of course, customers love free, but investors hate it. Skip the hype.

Funding 98

Funding Startup Innocal Entrepreneur 98

Startup Professionals Musings

OCTOBER 9, 2016

If you aren’t willing to take some risk as an entrepreneur, then don’t expect any gain. Here is my perspective on the highest risk elements, from my years of working with investors and watching startups come and go: All the co-founders are first-time entrepreneurs. New drugs usually fall in this category, due to side-effect testing.

Startup 104

Startup Entrepreneur Sites Technical Review 104

Both Sides of the Table

JUNE 13, 2018

As a VC and former entrepreneur let me offer you some advice. The mistake entrepreneurs make is either writing a lengthy email (everybody has too much email so it will get skimmed / not digested) or not having a deck which means the VC can’t quickly determine his or her fit as a potential investor. The key is WHAT you send.

Venture Capital 261

Venture Capital Slides Email Startup 261

Startup Professionals Musings

OCTOBER 22, 2018

If you aren’t willing to take some risk as an entrepreneur, then don’t expect any gain. Here is my perspective on the highest risk elements, from my years of working with investors and watching startups come and go: All the co-founders are first-time entrepreneurs. New drugs usually fall in this category, due to side-effect testing.

Sites 81

Sites Technical Review Social Media Entrepreneur 81

Both Sides of the Table

FEBRUARY 7, 2013

And I had been telling my partners for a couple of years that I thought Ethan was one of the more talented entrepreneurs I had come across in San Francisco. We generally have a policy to only fund entrepreneurs once the first version of a product has shipped or it near to shipping. We like to be able to see the concept.

CTO Coach 359

CTO Coach Google CTO Hire Yammer 359

Startup Professionals Musings

AUGUST 20, 2016

In fact, I often have to tell aspiring entrepreneurs that their inventions have zero value, at least not until they are put in the context of a business plan, with qualified people committed to executing the plan. Early-stage ideas fall in the same category. You need a viable business model and customers. Don’t get me wrong.

Technical Review 60

Technical Review Patents Ideas Journal 60

Startup Professionals Musings

DECEMBER 1, 2013

Entrepreneurs and startups often ask if they should use social media for marketing, digital media, or traditional media. Every business should look at its cost of customer acquisition (COCA) and return on investment (ROI) twice a year and after each campaign. Don’t try to tackle all 20 major categories of digital social media at once.

Social Media 103

Social Media Media Marketing Startup 103

Startup Professionals Musings

JUNE 19, 2015

Yet I can’t remember the last time any entrepreneur asked me to assess personal potential, despite the fact that most investors will admit they invest in the person more than the product. Many might say Donald Trump epitomizes this category. These entrepreneurs dream big, go big and too often crash big. Opportunist. Specialist.

Startup 106

Startup Incubator Entrepreneur Metrics 106