Startup Professionals Musings

SEPTEMBER 21, 2020

Finally you create and document your recipe (business plan). If you can’t identify customer interest, it doesn’t matter how good your product is. Don’t be afraid to test your ultimate entree on customers. Have you set the right price for your entree, and correctly included all costs? Make them “feel the love.”

Startup 156

Startup Coach Metrics Marketing 156

Startup Professionals Musings

MAY 26, 2021

Based on my experience with startups, trust is the most valuable asset you can have, especially when asking people to step into the unknown by funding your innovation, by joining your team, or just buying your new product as an early customer. For multiple party contracts, always document.

Company 165

Company Companies Metrics Entrepreneur 165

SoCal CTO

MARCH 11, 2013

If you do build the MVP and show it to them, they will ask you about your metrics. They really want metrics, not a product. The real question you should be asking is "When I've built this product and show you the following metrics, would you invest?"

Metrics 264

Metrics Venture Capital News Product 264

Startup Professionals Musings

JANUARY 26, 2018

The intent is to indicate that founder passion is not a substitute for real customers buying the product. The challenge is to convince investors that your business will attract real customers, before you have a revenue stream that exceeds your expenses. Pivoting early, based on real customer feedback, is always cheaper than later.

Customer 59

Customer Custom Pricing Startup 59

Startup Professionals Musings

OCTOBER 8, 2018

As a long-time advisor to entrepreneurs and business owners, I rarely find someone who doesn’t proclaim that the business world is changing rapidly, with new technology, new customer expectations, and new cultures. Others still routinely have phone hold queues for customer contact that can last up to an hour, with no alternative options.

Technical Review 84

Technical Review Customer Custom Startup 84

Startup Professionals Musings

MAY 24, 2015

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.

Outsource Development 99

Outsource Development Startup Competition Ideas 99

Startup Professionals Musings

NOVEMBER 4, 2019

In my experience, the key steps I look for always include the following: Testing the idea against customers who have money to spend. I suggest you use social media, blogging, crowdfunding, or documented research to quantify a real demand from people who can afford it, and don’t have a better alternative already out there.

Ideas 94

Ideas Slides Technical Review Patents 94

Startup Professionals Musings

MAY 28, 2016

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.

Ideas 62

Ideas Outsource Development Startup Competition 62

Startup Professionals Musings

DECEMBER 8, 2018

Finally you create and document your recipe (business plan). If you can’t identify customer interest, it doesn’t matter how good your product is. Don’t be afraid to test your ultimate entrée on customers. Have you set the right price for your entrée, and correctly included all costs? Make them “feel the love.”

Startup 81

Startup Coach Metrics Marketing 81

Startup Professionals Musings

NOVEMBER 4, 2016

Finally you create and document your recipe (business plan). If you can’t identify customer interest, it doesn’t matter how good your product is. Don’t be afraid to test your ultimate entrée on customers. Have you set the right price for your entrée, and correctly included all costs? Make them “feel the love.”

Entrepreneur 93

Entrepreneur Startup Coach Metrics 93

Startup Professionals Musings

AUGUST 19, 2016

An initial revenue surge, or a major cash advance from investors often leads to a mentality of building a large customer base at any cost. As the business grows, it pays to learn how to use automated financial tools, and review the key financial metrics daily. Prices need to be reviewed to cover total costs and margin.

Startup 57

Startup Training Entrepreneur Customer 57

Startup Professionals Musings

AUGUST 13, 2012

In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. Clearly define the customer, channel, and revenue model associated with this solution.

Competition 113

Competition Metrics Startup Invest 113

Startup Professionals Musings

MAY 13, 2011

In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. Clearly define the customer, channel, and revenue model associated with this solution.

Competition 116

Competition Metrics Startup Sales 116

Startup Professionals Musings

APRIL 22, 2010

In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. Clearly define the customer, channel, and revenue model associated with this solution.

Invest 74

Invest Tips Competition Metrics 74

Tech Zulu Event

MARCH 16, 2015

This can be a great way to test your product and get customer feedback. Be careful how you price this. Y-Combinator’s SAFE (Simple Agreement For Equity) is a quick way to generate deal documentation, with very little downside for founders from Shayne’s perspective. They will want board seats and a say in decision-making.

Startup 40

Startup Venture Capital Equity Funding 40

Startup Professionals Musings

JANUARY 6, 2021

Every new business I know dreams of building momentum in their business, where growth continues to increase, customers become your best advocates, and employee motivation is high. Unfortunately, with limited resources, this isn’t possible, and it frustrates customers and the team. Focus first on finding more of the right customers.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

SoCal CTO

FEBRUARY 13, 2013

Once you build it, they will now ask you about the key metrics that they need proven in order to see if you really are a good investment. The second bullet, getting feedback from customers is most often not valid either. The real reason to build an MVP is to do early tests of key Startup Metrics for the business.

Technical Review 338

Technical Review CTO Hire CTO Coach Software Review 338