Startup Professionals Musings

NOVEMBER 18, 2016

When entrepreneurs introduce new products to the market, their passion and conviction often leads them to assume that every potential customer will see the immediate need and value, and will quickly adopt the solution. If your solution alleviates a high level of existing pain, customers more readily change.

Product 95

Product Case Study Customer Custom 95

Both Sides of the Table

DECEMBER 16, 2009

This is part of my new series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. Street Smarts - OK, so you’re a tenacious person – you never give up. .&# They know instinctually how customers buy and how to excite them.

Entrepreneur 306

Entrepreneur Startup Outsource Development Customer 306

Startup Professionals Musings

OCTOBER 31, 2022

Trying to do everything is a sure way to maximize stress, lower job satisfaction, and minimize productivity. If you are a genius at invention, for example, then that is the role you should seek to keep you motivated and productive. Timing is important, and communication with your customer set is critical.

Activity 108

Activity Satisfaction Metrics Startup 108

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

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. 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.

Marketing 162

Marketing Social Media Metrics Customer 162

Startup Professionals Musings

SEPTEMBER 20, 2019

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.

Entrepreneur 93

Entrepreneur eBook Metrics Examples 93

socalTECH

APRIL 18, 2017

How to you take the recurring revenue model--which has been popular with software and other online services--an apply that to physical products and services? Employees love it, because not only are they getting better tasking, healthier products, but also because they are continually discovering new snacks.

Entrepreneur 124

Entrepreneur Services Sales Customer 124

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. As an investor, I would like to see one month of sales, and see how that compares to your projections. Free and freemium products need a solid base.

Startup 121

Startup Metrics Customer Custom 121

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

DECEMBER 18, 2022

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. Investors are buying part of the business, not the product or service. Both of these approaches are a waste of your time and theirs.

Technical Review 109

Technical Review Startup Statistics Social Media 109

Both Sides of the Table

SEPTEMBER 28, 2011

That great productivity drain that we somehow all buy into. So I ask you – if you’re being reactive to somebody else’s emails are you really being as productive in your company as you could be? I do what I wish all entrepreneurs would do. It was a young, first-time entrepreneur who wanted to meet.

Email 314

Email Product Startup Writing 314

Startup Professionals Musings

SEPTEMBER 24, 2014

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. Investors are buying part of the business, not the product or service. Both of these approaches are a waste of your time and theirs.

Entrepreneur 119

Entrepreneur Technical Review Statistics Startup 119

Startup Professionals Musings

DECEMBER 31, 2017

Most entrepreneurs believe they are “different,” but they can’t quite understand how. The classic book, “ Hunting in a Farmer's World: Celebrating the Mind of an Entrepreneur ,” by serial entrepreneur and business coach John F. Dini makes the case that entrepreneurs are hunters, while the rest of us (large majority) are farmers.

Entrepreneur 54

Entrepreneur News Slides Startup 54

Startup Professionals Musings

JUNE 28, 2015

Most entrepreneurs believe they are “different,” but they can’t quite understand how. The classic book, “ Hunting in a Farmer's World: Celebrating the Mind of an Entrepreneur ,” by serial entrepreneur and business coach John F. Dini makes the case that entrepreneurs are hunters, while the rest of us (large majority) are farmers.

Entrepreneur 106

Entrepreneur News Slides Startup 106

socalTECH

MAY 17, 2019

For today's interview, we sat down and spoke with David Loo , the founder and CEO of Perspectium (www.perspectium.com), a startup which is developing service management applications designed to help connect different, enterprise service management software products together. Perspectium recently raised a funding round from TVC Capital.

SaaS 113

SaaS Startup Customer Custom 113

SoCal Tech Calendar

JUNE 14, 2016

In the corporate world, events are more than just an event�they are opportunity to connect with your customers and turn potential customers into buyers. The most obvious, is to drive sales. We also wanted access to development resources, and we have our product team here, the engineers and designers, all based in Santa Monica.

Sales 100

Sales Santa Monica Startup Orange County 100

Startup Professionals Musings

MAY 12, 2014

Most entrepreneurs believe they are “different,” but they can’t quite understand how. A recent book, “ Hunting in a Farmer''s World: Celebrating the Mind of an Entrepreneur ,” by serial entrepreneur and business coach John F. Dini makes the case that entrepreneurs are hunters, while the rest of us (large majority) are farmers.

Entrepreneur 109

Entrepreneur Startup News Slides 109

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

JANUARY 6, 2020

In reality, a simple Excel spreadsheet model customized around your assumptions can save you hours and avoid a wasted expense in validating alternative vendor and marketing decisions. Vendor costs are subject to change, customers are fickle, competitors come out of the woodwork and the economy can take a downturn.

Startup 123

Startup Pricing Sample Customer 123

Startup Professionals Musings

FEBRUARY 12, 2016

Having the best solution is a good start these days, but a solution alone is no longer enough to keep customer attention and loyalty. The most memorable businesses, like Starbucks and Apple, no longer sell products, they sell ‘experiences’ with a product at the center. Tie customer experience to all compensation and recognition.

Customer 56

Customer Custom Startup Competition 56

Startup Professionals Musings

MARCH 18, 2015

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. Marty Zwilling.

Entrepreneur 106

Entrepreneur eBook Metrics Startup 106

Startup Professionals Musings

JANUARY 12, 2013

Many entrepreneurs I know don’t realize that the language they learned in the corporate world, or even their recent MBA class, won’t get them ahead in the startup world today. As a reality check, try this quick test of your entrepreneur savvy. As a reality check, try this quick test of your entrepreneur savvy. Super-angels.

Entrepreneur 109

Entrepreneur Startup Web Equity 109

Startup Professionals Musings

MARCH 21, 2020

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. Investors are buying part of the business, not the product or service. Both of these approaches are a waste of your time and theirs.

Technical Review 124

Technical Review Statistics Startup Social Media 124

Tech.Co

MAY 31, 2023

Launching and growing a startup is one of the biggest missions an entrepreneur can undertake. Business tools — from customer relationship management ( CRM ) platforms to accounting software — help to save startups time and money by automating key processes and maximizing efficiency. Most of these features are available for free.

Tool 128

Tool Startup Software Review Technical Review 128

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

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.

Customer 164

Customer Custom Advertising SEM 164

Startup Professionals Musings

NOVEMBER 20, 2019

Most entrepreneurs believe they are “different,” but they can’t quite understand how. The classic book, “ Hunting in a Farmer's World: Celebrating the Mind of an Entrepreneur ,” by serial entrepreneur and business coach John F. Dini makes the case that entrepreneurs are hunters, while the rest of us (large majority) are farmers.

Entrepreneur 95

Entrepreneur News Slides Startup 95

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. BDC employees are used to playing by the rules, so give them a rulebook.

Entrepreneur 168

Entrepreneur Santa Barbara Startup Conference 168

InfoChachkie

FEBRUARY 4, 2013

Whenever a VC assesses a potential investment opportunity, they attempt to match the entrepreneur(s), their solution, and intended markets with a pattern they have previously encountered. Conversely, even if a venture is pre-revenue, the operational risk is reduced if the entrepreneurs have a relevant track record of success.

Technical Review 244

Technical Review Startup Venture Capital RSS 244

Both Sides of the Table

DECEMBER 27, 2011

” I mention journalists here because they perpetuate the myth that focusing on profits is ALWAYS the right answer and then I hear many entrepreneurs (and certainly many “normals”) repeating the same mantra. The most obvious way to explain this is with sales people. Is it one product line or multiple?

Startup 418

Startup Venture Capital Sales Technical Review 418

socalTECH

MAY 30, 2019

Richards--a serial entrepreneur who has been involved in a number of technology companies here, including NTI Group (sold to Blackboard), Internships.com, MP3.com, Now we have a thousand large companies into it, and if you name a big company, they're a customers of ours, from Starbucks to NASA. What is CareerArc?

Content 193

Content Social Network Coach Help 193

Startup Professionals Musings

SEPTEMBER 27, 2019

A theme I often hear from the entrepreneurs and startups I advise is that once they see that first surge of traction from customers, they can relax and enjoy life for a change. Most businesses have learned to ask their customers what they want, and then work diligently to provide it.

Ideas 77

Ideas Customer Custom Competition 77

Startup Professionals Musings

FEBRUARY 28, 2015

In reality, a simple Excel spreadsheet model customized around your assumptions can save you hours and avoid a wasted expense in validating alternative vendor and marketing decisions. The way to start is with a sample financial model, freely available from many sources on the Internet, such as this one from Entrepreneur.

Startup 103

Startup Pricing Sample Customer 103

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

socalTECH

JANUARY 25, 2012

That's what Braden Richter , the CEO of Los Angeles-based LuxeYard (www.luxeyard.com) is looking to do with the new startup, which combines the world of home furnishings with the concept of flash sales. As a designer of those products, I've seen in home furnishings over the last twenty years lots of cycles.

Sales 178

Sales Startup Sites Design 178

socalTECH

NOVEMBER 19, 2012

Hautelook was able to help define--and conquer--the online flash sales category, in record time. Brett Markinson: The best place to start, is I'm a serial entrepreneur. As an entrepreneur, I'm drawn to disruptive dynamics and business opportunities, and to the sea change enabled by technology driven disruption.

Southern California 200

Southern California Startup Customer Custom 200

Both Sides of the Table

MAY 24, 2016

Not since the initial popularity of Twitter in 2007 has a product so befuddled people. Now here is the important thing for you to understand — many of my target customers — entrepreneurs between ages 21–35 — are on Snapchat! We’re going to try and do some post-production if we can. Why would a VC do that?

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Snapchat Blogging Venture Capital Writing 200