Startup Professionals Musings

JULY 30, 2021

While you all recognize that reacting to weak market signals is critical to staying in business and staying competitive, I find that many don’t have the skills and focus to trigger change decisions on a timely basis. You may be getting killed today by customer expectations you never worried about just a few years ago.

Marketing 162

Marketing Social Media Metrics Customer 162

Both Sides of the Table

DECEMBER 11, 2022

How might our next phase of the journey seem brighter, even with more uncertain days for startups and capital markets? And then in the late 90’s money crept in, swept in to town by public markets, instant wealth and an absurd sky-rocketing of valuations based on no reasonable metrics. What happened?

Venture Capital 466

Venture Capital Startup Marketing Pricing 466

SoCal CTO

MARCH 1, 2010

Startup Killer: the Cost of Customer Acquisition | For Entrepreneurs , February 2, 2010 Looks at the critical equation around customer acquisition cost vs. customer lifetime value similar to what I discussed in Startup Metrics but in more depth. Great stuff. This post looks at the implementation details of HTML 5 video.

Pricing 150

Pricing Acquisition Customer Custom 150

Startup Professionals Musings

AUGUST 4, 2017

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Now all we hear about is providing the best “customer experience.” You have to hear your customer’s dreams, goals, passions, and aspirations.

Customer 85

Customer Custom Product Marketing 85

Startup Professionals Musings

DECEMBER 27, 2019

Every new business dreams of growing from a startup to a global market leader in a few years, like Amazon.com, but that goal is elusive. My simple answer is that they keep their focus on customers, rather than technology. Jeff Bezos has kept his focus on customers. Incorporate AI-powered data and metrics systems.

Marketing 123

Marketing Technical Review Customer Custom 123

Startup Professionals Musings

DECEMBER 17, 2013

Entrepreneurs have no trouble focusing on how to build a product, and the good ones know how to find and nurture those first critical customers. What I’m talking about here is a level of discipline and skill necessary to collect and analyze the relevant business data, known as metrics. Customer loyalty and retention.

Metrics 100

Metrics Technical Review Sales Customer 100

Startup Professionals Musings

JUNE 5, 2019

Too many business owners still think of “ customer support ” as an after-sale process to rectify customer problems with completed transactions. With the advent of instant communication and social media, customer service starts at the first hint of interest by you, and never ends for repeat customers.

Customer 84

Customer Custom Company Companies 84

socalTECH

MARCH 16, 2009

Los Angeles-based Image Metrics , a developer of facial animation technology, disclosed this morning that it has created a new "rigging" service for the video game and film markets. Pricing on the new service was not announced. Image Metrics is venture backed by Saffron Hill Ventures. READ MORE>>.

Metrics 100

Metrics Services Customer Custom 100

Both Sides of the Table

OCTOBER 10, 2011

The big price increase : 5 out of 5 stars. Some customer segments value the DVD business and these may be more price sensitive. Some customer segments value the convenience of instantly available films. Netflix needs to segment their customers and charge each what is appropriate. No, probably not. A blog post!

Netflix 287

Netflix Customer Custom Pricing 287

Startup Professionals Musings

MARCH 4, 2019

Is your marketing focus product-centric or customer-centric ? With a wealth of products now available, customers look for the most memorable experience , not just the best product. These days, a fun shopping experience, or no-question returns, often tips the scales over extra product features or a lower price.

Customer 85

Customer Custom Product Metrics 85

Both Sides of the Table

SEPTEMBER 10, 2021

With the enormous changes to our economies and financial markets?—?how how on Earth could the venture capital market stand still? One of the most common questions I’m asked by people intrigued by but also scared by venture capital and technology markets is some variant of, “Aren’t technology markets way overvalued?

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Startup Professionals Musings

NOVEMBER 14, 2012

Entrepreneurs have no trouble focusing on how to build a product, and the good ones know how to find and nurture those first critical customers. What I’m talking about here is a level of discipline and skill necessary to collect and analyze the relevant business data, known as metrics. Customer loyalty and retention.

Metrics 106

Metrics Startup Sales Statistics 106

Startup Professionals Musings

NOVEMBER 2, 2022

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Customers like leaders, not followers.

Resource 121

Resource Metrics Entrepreneur Customer 121

Startup Professionals Musings

JUNE 22, 2016

That should make you wonder - how do you measure traction in a metric? While thinking about the parameters of traction, and how to measure it, I was impressed with a new book, “ Scaling Lean: Mastering the Key Metrics for Startup Growth ” by Ash Maurya, a serial entrepreneur, and creator of the one-page business modelling tool Lean Canvas.

Metrics 57

Metrics Funding Startup Customer 57

InfoChachkie

NOVEMBER 5, 2012

However, many people are not aware that prior to entering academia, Steve was a wily and creative marketing entrepreneur. As the VP of Marketing, Steve inherited a department of 14people that was burning $4M annually. Despite these abundant resources, the team's ineffectiveness was reflected by the company's dismal 11% market share.

Marketing 271

Marketing Startup Sales Customer 271

Startup Professionals Musings

SEPTEMBER 11, 2021

Traction is evidence that your product or service has started that “hockey- stick” adoption rate which implies a large market, a valid business model, and sustainable growth. One customer is not traction, and beta tests with a thousand customers at no cost don’t count. Market penetration. Customer acquisition cost.

Startup 121

Startup Metrics Customer Custom 121

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. Here are some basic principles from my own experience that will improve your odds and keep you on the right track: Recognize that you are not the market.

Sales 165

Sales Customer Custom Social Media 165

Startup Professionals Musings

NOVEMBER 30, 2022

They rarely highlight their marketing and relationship skills , even though, in my experience, these are more often the key to success in business than product skills. In addition to listening, they spent much of their time communicating their vision and marketing themselves to everyone they encountered.

Startup 113

Startup Customer Custom Technical Review 113

Startup Professionals Musings

JUNE 18, 2023

For a new business, you can provide unique ingredients, but the preparation steps in your business plan must follow a tried and true recipe for startup success: Identify a market with a real need. If you can’t identify customer interest, it doesn’t matter how good your product is. time-to-market is critical) Viable financial model.

Startup 112

Startup Coach Metrics Marketing 112

Startup Professionals Musings

MAY 30, 2022

These only come with the proper training, investment in tools, and focus on customer relationships. Managing business growth is more than metrics. You can hire the best salespeople, have great products and define good metrics, but without decisive and innovative managers, the sales organization will not reach its full potential.

Sales 147

Sales Metrics Guide Startup 147

Startup Professionals Musings

OCTOBER 27, 2021

Most of the entrepreneurs I meet as an investor and advisor have no shortage of right-brain thinking, showing vision and creativity, but often don’t realize that their potential is being limited by a balancing focus on results, metrics, and customer specifics. Every balanced leader does marketing early.

Technical Review 133

Technical Review Satisfaction Metrics Startup 133

Startup Professionals Musings

MARCH 10, 2023

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. Customer receivables collection and vendor payments. Marketing, sales, support, and service operations.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

APRIL 7, 2021

Every entrepreneur’s first priority should be the alignment of interests across the range of constituents required for success – partners, investors, customers, vendors, and employees. Make sure the inspiration that launched your vision isn’t lost in the course of a pivot or market change. Realign all elements of the plan.

Social Media 143

Social Media Startup Framework Course 143

Startup Professionals Musings

APRIL 26, 2015

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Now all we hear about is providing the best “customer experience.” You have to hear your customer’s dreams, goals, passions, and aspirations.

Customer 100

Customer Custom .Net Competition 100

Startup Professionals Musings

FEBRUARY 8, 2020

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Customers like leaders, not followers.

Entrepreneur 129

Entrepreneur Resource Metrics Customer 129

Startup Professionals Musings

DECEMBER 31, 2012

Most then add customer service at the rollout, but very few really understand what it means to be truly customer centric, and even fewer really achieve it. Customer centricity is far more than providing excellent customer service, although that’s a step in the right direction. Focus on individual customer value.

Customer 90

Customer Custom Startup Pricing 90

Both Sides of the Table

NOVEMBER 14, 2017

There is nothing more pure than building a product, putting it out in the world and seeing paying customers using your product and in some cases loving it. As companies get this initial customer feedback on their product they start to have to ask harder questions about unit economics: How much does it cost us to acquire a new customer?

Startup 286

Startup Technical Review Customer Custom 286

Startup Professionals Musings

AUGUST 10, 2022

Thus, in my mentoring of potential technical entrepreneurs who have a real passion for their technology, I often recommend that they find a co-founder who can manage the marketing and execution elements of the new venture. Balance of passion with reality and customer feedback. Pay attention to all.

Mentor 133

Mentor Startup Customer Custom 133

Startup Professionals Musings

MARCH 11, 2014

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Now all we hear about is providing the best “customer experience.” You have to hear your customer’s dreams, goals, passions, and aspirations.

Customer 98

Customer Custom .Net Competition 98

Startup Professionals Musings

AUGUST 21, 2021

Explosive growth to an enterprise normally requires a scalable sales model, a well-documented process with incentives, training, and metrics for tracking and management. Of course, customer relationships, and penetration into new market segments are also critical elements. Isolate marketing from sales for maximum customer focus.

Startup 151

Startup Course Sales Entrepreneur 151

Startup Professionals Musings

SEPTEMBER 21, 2020

For a new business, you can provide unique ingredients, but the preparation steps in your business plan must follow a tried and true recipe for startup success: Identify a market with a real need. If you can’t identify customer interest, it doesn’t matter how good your product is. time-to-market is critical) Viable financial model.

Startup 156

Startup Coach Metrics Marketing 156

Berkonomics

MAY 20, 2021

[Email readers, continue here…] One way to fall into the time bankruptcy trap is to release a product too early and pay the price by forcing the architect and most skilled developers to drop off their important tasks to put out fires in the field and fix problems one at a time. And yet another way to make that mistake.

Resource 156

Resource Outsource Development Metrics Customer 156

Startup Professionals Musings

MARCH 6, 2021

I’m sure all you accountants will agree that fixing the mistakes listed here does not require rocket science, but I’ve seen them so often that to be forewarned is to be forearmed: Failing to factor in fixed costs when pricing. Always use a break-even analysis to measure what volume and price are required to offset total costs.

Technical Review 151

Technical Review Startup Summary Pricing 151

Startup Professionals Musings

JUNE 20, 2022

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 111

eBook Metrics Examples Startup 111

Startup Professionals Musings

MAY 1, 2019

Image via Pixabay As a mentor to many small business owners, I always caution them that you can never relax completely, just because your initial solution or product set appears to be getting traction, and the market buzz is positive. Control costs and adjust prices to maintain your margin.

Metrics 86

Metrics Startup Training Customer 86

Startup Professionals Musings

JUNE 2, 2021

I like the summary of the competitive reality in a new book, “ Rethinking Competitive Advantage: New Rules for the Digital Age ,” by Ram Charan, who relates a wealth of current experience from global clients: Customers expect a personalized experience. Features, availability, and brand are just the price of entry.

Competition 142

Competition Software Review Social Media Customer 142

Startup Professionals Musings

JUNE 7, 2020

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. Customer receivables collection and vendor payments. Marketing, sales, support, and service operations.

Entrepreneur 131

Entrepreneur Outsource Development Startup Competition 131