Startup Professionals Musings

JANUARY 8, 2021

Most leaders agree that poor customer service is a business killer today, in terms of lost customers, reduced profits, and low morale. Yet the average perception of customer experience has not improved. You have to start with hiring only people who are willing and able to make serious customer service happen.

Startup 154

Startup Training Customer Custom 154

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

Startup Professionals Musings

JUNE 21, 2013

Most leaders agree that poor customer service is a business killer today, in terms of lost customers, reduced profits, and low morale. Yet the average perception of customer experience continues to decline. You have to start with hiring only people who are willing and able to make serious customer service happen.

Customer 92

Customer Custom Startup Services 92

Both Sides of the Table

OCTOBER 10, 2011

Netflix as a service has always prided itself on movie recommendations that are tailored specifically to you plus user ratings on the quality of films. The big price increase : 5 out of 5 stars. Some customer segments value the DVD business and these may be more price sensitive. No, probably not. to be synchronized.

Netflix 287

Netflix Customer Custom Pricing 287

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

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

JULY 30, 2021

Here are some key strategies that I recommend to prompt you when changes to your business may be required: Look for a changing customer sense of value. You may be getting killed today by customer expectations you never worried about just a few years ago. Establish and evaluate metrics at multiple levels.

Marketing 162

Marketing Social Media Metrics Customer 162

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

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. Average transaction size and revenue per customer.

Startup 121

Startup Metrics Customer Custom 121

Startup Professionals Musings

SEPTEMBER 22, 2022

Great marketing is required to generate revenue and grow every business, especially new businesses which have no brand recognition nor loyal customer base. Yet, as a business consultant, I still find many of you business leaders relying primarily on your technology, word-of-mouth , or location to attract necessary customers.

Marketing 133

Marketing Customer Custom Outsource Development 133

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

Both Sides of the Table

SEPTEMBER 10, 2021

On the other hand, the biggest winners will turn out to be much larger than the prices people paid for them and this will happen faster than at any time in human history. We can’t wait for customers to use the product for 12–18 months and do customer interviews or look at purchase cohorts. dot-com bonanza.

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Startup Professionals Musings

MAY 30, 2022

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. These only come with the proper training, investment in tools, and focus on customer relationships. Managing business growth is more than metrics. Marketing shapes the concept, branding, packaging, pricing, and positioning.

Sales 147

Sales Metrics Guide Startup 147

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.

Customer 90

Customer Custom Startup Pricing 90

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

Berkonomics

MAY 20, 2021

Most often it is the time of the chief architect of the product or service you provide, or of the best developers of that product. There are many ways to fall into this trap. But first, identify what those critical resources are in your company. And yet another way to make that mistake. Again, it’s about you at the center of this firestorm.

Resource 156

Resource Outsource Development Metrics Customer 156

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. Productivity and repeatability is the hallmark of a good business, whereas a hobby usually assumes everything is custom built and personal.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

JANUARY 25, 2016

If you can’t provide a memorable customer experience, your startup won’t survive very long these days. You now need more than loyalty from your customers -- they need to be your best advocates. The days of pushing new and marginal performers into customer service are gone. Lost customers provide the best input.

Customer 55

Customer Custom Startup Coach 55

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

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

Startup Professionals Musings

OCTOBER 17, 2018

According to most investors I know, traction is some clear evidence that the “dogs are eating the dog food” – usually meaning that you have at least one customer paying full price for your solution. If your phone app or service is free, then the number of users or downloads better be impressive and growing exponentially.

Tips 79

Tips Metrics Technical Review Customer 79

Startup Professionals Musings

OCTOBER 20, 2023

Potential customers these days rely more and more on name recognition for credibility and new brand adoption. These days, customers are drawn to support worthy causes, such as saving the environment or feeding the hungry. These days, customers are drawn to support worthy causes, such as saving the environment or feeding the hungry.

Marketing 116

Marketing Resource Training Startup 116

Startup Professionals Musings

AUGUST 10, 2022

Balance of passion with reality and customer feedback. A strong vision and deep insight may get your business off the ground, but long-term success requires constant data analysis, metrics, and attention to your customer feedback. The competition will improve, the market will change, and your customers will demand more.

Mentor 133

Mentor Startup Customer Custom 133

Startup Professionals Musings

JUNE 18, 2023

If you can’t identify customer interest, it doesn’t matter how good your product is. You need a good cook, good marketing, and first-class service. 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 112

Startup Coach Metrics Marketing 112

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. If you have had to pivot from the consumer market to enterprise customers, that requires new pricing models and new sales channels.

Social Media 143

Social Media Startup Framework Course 143

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

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 27, 2019

My simple answer is that they keep their focus on customers, rather than technology. Jeff Bezos has kept his focus on customers. In my view, every startup in today’s world would do well to adopt a management system with the same key objectives: Start with a customer-obsessed business model.

Marketing 123

Marketing Technical Review Customer Custom 123

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

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. Productivity and repeatability is the hallmark of a good business, whereas a hobby usually assumes everything is custom built and personal.

Entrepreneur 131

Entrepreneur Outsource Development Startup Competition 131

Startup Professionals Musings

APRIL 10, 2012

You can’t succeed in your new startup if you can’t win customers, and the new Internet-empowered customers are tough. Bloom’s “ The New Experts ,” that today’s customers are armed with three lethal weapons – instant access to information about every potential purchase, immense choice, and real-time comparison of competitive prices.

Customer 93

Customer Custom Startup Competition 93

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

FEBRUARY 11, 2011

You can’t succeed in your new startup if you can’t win customers, and the new Internet-empowered customers are tough. Bloom’s “ The New Experts ,” that today’s customers are armed with three lethal weapons – instant access to information about every potential purchase, immense choice, and real-time comparison of competitive prices.

Customer 88

Customer Custom Competition Metrics 88

Startup Professionals Musings

SEPTEMBER 21, 2020

If you can’t identify customer interest, it doesn’t matter how good your product is. You need a good cook, good marketing, and first-class service. 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

Both Sides of the Table

NOVEMBER 2, 2010

.&# When I talk to people about sales I often describe the sales process as a series of hurdles (objections) that are put up to avoid making a purchase and your responsibility is to work through these common objections with your customer. In the evangelical phase you’re working through these with customers on the fly.

Sales 289

Sales Startup Training Pricing 289

Startup Professionals Musings

APRIL 28, 2021

I recommend a trial run with an experiment or MVP (minimum viable product), at full price and cost, before the big bang launch, risking your investment money and a major time commitment. Look for validation from your mainstream customers. Paul Allen was the technical visionary, Test the viability of your business parameters.

Technical Review 131

Technical Review Case Study Mentor Software Review 131

Startup Professionals Musings

JULY 26, 2021

Nimbleness and urgency to get the job done will set you apart from your competitors in so many ways, particularly with customers. Well-articulated goals and metrics. Always strive to increase your lead, and while competitors scramble to catch you, unleash your next breakthrough product, service, or promotion.

Startup 154

Startup Resource Entrepreneur Metrics 154