Startup Professionals Musings

AUGUST 21, 2021

Yet as a business advisor I am convinced that making the jump from a startup to a the next unicorn takes a different mindset, and actions most entrepreneurs are reluctant to face. Of course, that means a mindset willing to give up much more equity, and taking on a whole new level of risk.

Startup 151

Startup Course Sales Entrepreneur 151

Both Sides of the Table

APRIL 21, 2013

It is of course why immigrants power so many successful businesses in the US and why we need to embrace them. How much could the new generation of entrepreneurs learn from that? While still owning the business he now does $60 million in annual sales built from nothing. Moving to the US with nothing but hard work and ambition.

Entrepreneur 415

Entrepreneur Startup Pricing Product 415

Startup Professionals Musings

OCTOBER 21, 2023

Proof of any business model starts with a finished product or solution, sold to a new customer for full price, with high satisfaction for the value received. Of course, that has be a repeatable event, with enough revenue to sustain the business. Word of mouth is not adequate for marketing and sales.

Customer 109

Customer Custom Satisfaction Sales 109

Both Sides of the Table

NOVEMBER 19, 2009

(In case it’s not obvious it’s a play on the Nike slogan, “Just Do It.&# ) I believe that being successful as an entrepreneur requires you to get lots of things done. Entrepreneurs make fast decisions and move forward knowing that at best 70% of their decisions are going to be right. This paralyzes most people.

Entrepreneur 414

Entrepreneur Technical Review Slides CTO Coach 414

Startup Professionals Musings

JANUARY 13, 2014

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure the rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 99

Sales Customer Custom Entrepreneur 99

Startup Professionals Musings

APRIL 7, 2021

These things change so fast these days that the primary role of the entrepreneur as CEO is to be the Master of Realignment. Most entrepreneurs recognize the need to pivot on a regular basis, but many forget that pivoting usually requires a realignment effort to get all the players back in sync. Revisit your startup vision and values.

Social Media 143

Social Media Startup Framework Course 143

InfoChachkie

JUNE 15, 2015

Effective entrepreneurs reject dogmatism and embrace doubt. Confirmation bias is particularly dangerous at startups, as it slows down these vital course corrections. At the same time, the team may unconsciously discount data that shows an uptick in sales beyond what could be attributable to a higher price.

Entrepreneur 100

Entrepreneur Pricing Course Journal 100

Startup Professionals Musings

JANUARY 22, 2021

Proof of any business model starts with a finished product or solution, sold to a new customer for full price, with high satisfaction for the value received. Of course, that has be a repeatable event, with enough revenue to sustain the business. Word of mouth is not adequate for marketing and sales.

Sales 165

Sales Customer Custom Social Media 165

Berkonomics

FEBRUARY 7, 2019

[Email readers, continue here…] Over the years, I have been delegated by more than several entrepreneurs and boards to negotiate critical agreements, sometimes to sell the company or merge it with another. And as the entrepreneur still tells the story, we two board members walk on water for having delivered such great results.

Pricing 120

Pricing Sales Tool Entrepreneur 120

Berkonomics

FEBRUARY 7, 2019

[Email readers, continue here…] Over the years, I have been delegated by more than several entrepreneurs and boards to negotiate critical agreements, sometimes to sell the company or merge it with another. And as the entrepreneur still tells the story, we two board members walk on water for having delivered such great results.

Pricing 120

Pricing Sales Tool Entrepreneur 120

Startup Professionals Musings

OCTOBER 30, 2022

Almost instantly, via the Internet or on their smartphone in the store, they can find the lowest price alternative or their favorite features, without waiting for push marketing or listening to your best sales person. As an entrepreneur and startup, you should love this environment and cater to it.

Customer 146

Customer Custom Startup Course 146

Startup Professionals Musings

SEPTEMBER 25, 2021

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. Of course it helps to have innovative technologies before you start building a business. Marty Zwilling.

Technical Review 156

Technical Review Funding Patents Ideas 156

Startup Professionals Musings

NOVEMBER 23, 2012

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 96

Sales Customer Custom Pricing 96

Startup Professionals Musings

JULY 22, 2013

It''s a line from an old movie "Field of Dreams" which is still leading to the demise of too many startups, led by entrepreneurs who really started their business to build an exciting new product or service. Most struggle with the idea and practice of marketing and sales, and see these as a necessary evil, if even required.

Sales 105

Sales Startup Metrics Customer 105

Startup Professionals Musings

JULY 19, 2014

Almost instantly, via the Internet or on their smartphone in the store, they can find the lowest price alternative or their favorite features, without waiting for push marketing or listening to your best sales person. As an entrepreneur and startup, you should love this environment and cater to it. Marty Zwilling.

Customer 98

Customer Custom Entrepreneur Startup 98

InfoChachkie

OCTOBER 13, 2009

Surely a savvy, modern-day entrepreneur can utilize online tools to leverage young peoples’ collective energy and fervor. . Sales – Many publishers, including Grit, encouraged newspaper boys to create new routes and expand existing ones by aggressively selling subscriptions to non-subscribers. free weekly Infochachkie articles!

Web 2.0 222

Web 2.0 Web Sales Outsource Development 222

Startup Professionals Musings

JANUARY 6, 2023

Many passionate entrepreneurs fight to add more features into their new products and services, assuming that more function will make the solution more appealing to more customers. Of course, once you have a brand and more resources, it can pay to expand your book selling to a full e-commerce site.

Startup 114

Startup IBM IBM Social Media 114

Both Sides of the Table

MAY 13, 2018

The most important advice I could give you before you set out in fund raising mode is to understand that fund-raising a sales & marketing process and needs to be managed. Somehow many first-time founders equate “sales” with something that is beneath them. In sales there are also three rules: Qualify, qualify, qualify.

Venture Capital 332

Venture Capital Funding Startup Sales 332

Both Sides of the Table

APRIL 26, 2016

profitable and companies like Amazon who chose to focus on growth > profitability were not losing money on each book sale (ie they were gross margin positive). The tl;dr version is this: Many have been taught to focus on LTV/CAC ratio and if that number is substantively > 1 said entrepreneur feels great. Gross margin positive

Metrics 150

Metrics Startup SaaS Course 150

Both Sides of the Table

JUNE 17, 2017

The most obvious way to explain this is with sales people. If you hire 6 senior sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business 6 months. I often ask entrepreneurs to consider, “What’s your objective?

Startup 227

Startup Venture Capital Sales Course 227

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 Customer 162

Startup Professionals Musings

SEPTEMBER 4, 2011

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 97

Sales Customer Custom Pricing 97

Startup Professionals Musings

SEPTEMBER 1, 2019

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. That’s where I see too much entrepreneur burnout, growth plateaus, and founders being replaced, to their chagrin. Of course, not every entrepreneur wants to tackle this challenge. There is no free lunch.

Startup 97

Startup Sales Metrics Guide 97

Startup Professionals Musings

JULY 14, 2014

My first advice for new entrepreneurs is to pick a domain that doesn’t have the sky-high up-front development costs, like online web sites and smart phone apps. Of course, we all realize that this approach will take longer, and could jeopardize both roles if not managed effectively. Set expectations accordingly. Are you ready to start?

Entrepreneur 113

Entrepreneur Funding Startup Technical Review 113

Startup Professionals Musings

AUGUST 8, 2016

As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. Of course, I understand and don’t condone bad actors who get greedy, and exploit ways to unjustly squeeze customers and employees. Show an aggressive marketing and sales plan.

Entrepreneur 58

Entrepreneur Ideas Pricing Customer 58

Startup Professionals Musings

SEPTEMBER 16, 2011

The popular view of a real entrepreneur is someone with a big vision, and a stubborn determination to charge straight ahead through any obstacle and make it happen. His new book on this subject, “ The Lean Startup ,” lays out how today's entrepreneurs use continuous innovation to create radically successful businesses. Channel pivot.

Entrepreneur 102

Entrepreneur Startup Platform Customer 102

Startup Professionals Musings

AUGUST 15, 2010

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure rate of sales ramps up quickly enough to keep the business alive and growing.

Sales 91

Sales Startup Customer Custom 91

Both Sides of the Table

JANUARY 29, 2010

This is part of my series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. I started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. Entrepreneurs play to win and they take losing seriously.

Competition 296

Competition Entrepreneur Startup GRP Partners 296

Startup Professionals Musings

SEPTEMBER 13, 2022

My first advice for new entrepreneurs is to pick a domain, such as online web sites and smart phone apps, that doesn’t have the sky-high up-front development costs. Of course, we all realize that this approach will take longer, and could jeopardize both roles if not managed effectively. Set expectations accordingly. Marty Zwilling.

Startup 136

Startup Technical Review Equity Incubator 136

InfoChachkie

MAY 19, 2011

This series describes how entrepreneurs can craft company-changing agreements with BDCs, while avoiding Kiss of Death contract provisions. In Part II of this series, I suggest that entrepreneurs seek agreements in which “what is good for the goose is good for the gander.” Agree to Bundling Without a Minimum Price.

Outsource Development 193

Outsource Development IP Technical Review Entrepreneur 193

Startup Professionals Musings

JULY 24, 2012

These things change so fast these days that the primary role of the entrepreneur as CEO is to be the Master of Realignment. Most entrepreneurs recognize the need to pivot on a regular basis, but many forget that pivoting usually requires a realignment effort to get all the players back in sync. Revisit your startup vision and values.

Entrepreneur 93

Entrepreneur Social Media Startup Framework 93

Berkonomics

FEBRUARY 3, 2012

Over the years, I have been delegated by a number of entrepreneurs and boards to negotiate critical agreements, sometimes to sell the company or merge it with another. After forty-five minutes of further negotiation, we walked from the room with an agreement to sell the company for cash at twice the asking price.

Pricing 214

Pricing Sales Tool Entrepreneur 214

Startup Professionals Musings

SEPTEMBER 14, 2022

With the current volatile economy, as an active startup mentor, I’m seeing a new surge of entrepreneurs and startups, with the commensurate scramble for funding. This approach is thus not viable for entrepreneurs already out of money. Increased jeopardy and less fun for the entrepreneur. Marty Zwilling.

Funding 104

Funding Summary Entrepreneur Acquisition 104

Startup Professionals Musings

JULY 8, 2015

My first advice for new entrepreneurs is to pick a domain, such as online web sites and smart phone apps, that doesn’t have the sky-high up-front development costs. Of course, we all realize that this approach will take longer, and could jeopardize both roles if not managed effectively. Set expectations accordingly. Marty Zwilling.

Entrepreneur 105

Entrepreneur Startup Technical Review Equity 105

InfoChachkie

JANUARY 16, 2018

The problem is that stakeholders, like marketing and sales, don’t know what the latest version of the roadmap is. Greathouse: Having run these groups, I know all about the inherent friction between sales and marketing with regard to lead quality, volume, etc., What advice you can offer entrepreneurs validating their new products?

Venture Capital 115

Venture Capital Entrepreneur Santa Barbara SaaS 115

Startup Professionals Musings

APRIL 11, 2020

Many passionate entrepreneurs fight to add more features into their new products and services, assuming that more function will make the solution more appealing to more customers. Of course, once you have a brand and more resources, it can pay to expand your book selling to a full e-commerce site.

Startup 169

Startup IBM IBM Social Media 169

Startup Professionals Musings

JULY 27, 2014

With the appearance of do-it-yourself services on the Internet, entrepreneur curriculums at every university, and a wealth of new books on the subject, the need for expensive consultants and business advisors has also been mitigated. Social media facilitates marketing and sales. budget business e-commerce entrepreneur startup'

Entrepreneur 104

Entrepreneur Startup Social Media Commerce 104