August, 2023

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Technical Review: A Trusted Look Under the Hood

TechEmpower

Many CEOs of software-enabled businesses call us with a similar concern: Are we getting the right results from our software team? Most innovators don’t have a technical background, so it’s hard to evaluate the truth of the situation. We hear them explain that their current software development is expensive, deliveries are rarely on time, and random bugs appear.

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Take only “smart money” investments

Berkonomics

This statement could be considered controversial. We have previously made the case that professional investors demand more in the form of restrictive covenants and lower valuations. Now we explore the other side of that coin. Professional investors usually bring “smart money” to the table, defined as money that comes along with good advice and great relationships for corporate growth.

Invest 296
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6 Keys To New Business Growth From Global Opportunity

Startup Professionals Musings

With the availability of high-speed Internet and social media access around the world, it’s easy for entrepreneurs to assume that the world is just one big homogeneous market, and project their business will scale accordingly. Nothing could be further from the truth. Large businesses, as well as small, still fail often by not addressing the very real cultural, economic and political differences.

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Catching Up with SDSW Pitch Competition Champion & Incubator Alumni, James Hamet, Founder & CEO of Vistim Labs

Startup San Diego

The Startup San Diego team caught up with the 2022 Startup Week Heavyweight Pitch competition winner and Startup Incubator Program Alumni, James Hamet, Founder and CEO of Vistim Labs, to find out how the startup has been doing since the victory and their plans for the future. Vistim Labs Vistim Labs, is an AI software […] The post Catching Up with SDSW Pitch Competition Champion & Incubator Alumni, James Hamet, Founder & CEO of Vistim Labs appeared first on Startup San Diego.

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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Ideas For Marketing Campaigns That Will Interest Consumers

AllTopStartups

Whether you’re looking to increase your revenue or improve your brand recognition, finding the right marketing campaign ideas is critical. Start by developing goals that are specific, measurable and achievable.… The post Ideas For Marketing Campaigns That Will Interest Consumers appeared first on AllTopStartups.

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Technical Advisors: Every Startup Needs One

TechEmpower

No good innovator turns down advice! Startup founders make decisions on a daily basis – significant decisions that will have lasting impact on their business. Why do this without the right technical advisor? Would you create contracts without an attorney? Just like attorneys, technical advisors can help navigate waters that many find murky. A technical advisor can: Help specify what to build versus what to buy Help structure third-party development contracts, or lead an in-house team Plan

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Need investment capital?

Berkonomics

Preparing for the game… If you have been following our recent insights, you’ll be up to speed knowing that professional investors negotiate tough terms, from provisions of control over asset acquisition, eventual sale of the company, future investments, forced co-sale when others attempt to sell their shares and more. And yet, in an earlier post, we spoke of the problems that come when taking unstructured investments from friends and family.

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Need money? Read this!

Berkonomics

How important is this issue for your business? The subject of raising money is critical to many businesses and a passing option to others, depending upon the capital efficiency of the enterprise. Some businesses require very little capital and the founder can self-finance the enterprise and retain 100% of its ownership and control from ignition through liquidity event (startup through sale).

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What do you give up when you take outside investors?

Berkonomics

Setting your expectations Taking in angel or venture money requires a setting of an entrepreneur’s expectations that may come as a shock at least at first. From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering.

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TechEmpower

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8 Strategies For Business Professionals To Stay Ahead

Startup Professionals Musings

As a business advisor and advocate for entrepreneurs, I find myself almost always talking and writing about change. Yet there are many things about business and work that haven’t changed for a long time, and don’t need to change anytime soon. I’m always surprised when someone doesn’t seem to grasp these basics, or thinks it’s fine to throw the baby out with the bathwater.

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7 Keys To Focusing Only On Challenges You Can Control

Startup Professionals Musings

My consulting clients tell me the business challenges these days are greater than ever before, with the recent pandemic and current global political unrest. Rather than let all these drive you insane, I always try to recommend some practical strategies to make you stronger and more focused in your outlook. I’m fully convinced that success is all about you rather than the market.

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6 New Venture Challenges Make It An Endurance Sport

Startup Professionals Musings

There has long been a big debate about the best approach to starting a new business. Some argue the only way to start is to drop everything and jump in with both feet, while others recommend an overlapped approach to the lifestyle, including not quitting your day job until you have revenue and a proven business model. I’m definitely a proponent of this latter approach.

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7 Ways To Build A Team Culture For Today’s Challenges

Startup Professionals Musings

Every business team and leader is facing increased pressure and challenges from today’s flood of competitors and the global forces of change. It’s easy to lose your drive and jeopardize your health, or just settle for “business as usual” and jeopardize the long-term success of your business. Instead, now is the time to bolster your leadership skills while you still can.

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8 Tasks To Prepare You For Starting Your Own Business

Startup Professionals Musings

In the aftermath of the recent pandemic, which caused many businesses to close, a new raft of business workers and entrepreneurs are deciding to pursue their own dreams of being a new business owner, and controlling your own destiny. The cost of entry has never been lower, with new tools to create your own website , and free social media to get your message out everywhere.

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6 Strategies To Find An Investor For Your New Venture

Startup Professionals Musings

One of the biggest myths I have found in the entrepreneur community is that every startup needs one or more outside investors for credibility and success, and perhaps is even entitled to at least one. They don’t realize that according to statistics from Startup.co , almost 60 percent are funded with personal savings and credit, and another 25 percent get their money from friends and family.

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7 Suggestions For Motivating Your Team In Tough Times

Startup Professionals Musings

It’s easy for an entrepreneur or a CEO to feel like a leader when things are going well, but the challenge is to keep that confidence and drive in the face of economic downturns, business turnarounds, and stressful personnel situations. Working twenty hours a day, losing your cool, and falling back to a no-risk strategy are not conducive to long-term success.

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6 Tactics To Propel Innovation Before The Next Crisis

Startup Professionals Musings

Every entrepreneur and business executive knows that continuous innovation is required to survive, but most struggle with this more than any other challenge they face. They know they need to act proactively, but still are often blindsided by a new competitor coming out of the blue with a future they never imagined. Innovation driven by the next crisis is not leadership.

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6 Keys To Defining And Exploiting Your Secret Sauce

Startup Professionals Musings

Finding your sweet spot as an entrepreneur needs to start with a meaningful personal purpose that is also a business opportunity. Some people are so passionate about a cause that they forget to consider the lack of business potential, while others are so enamored with profit that they jeopardize their ethics. Both ends of this spectrum fail to bring long-term satisfaction or success.

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8 Practices Common To The Greatest Leader Role Models

Startup Professionals Musings

Almost every employee or team member can remember that one special boss in their career who was the role model of a leader, always commanded respect, and was able to get the most voluntarily from everyone all the time. Every entrepreneur and business executive I know wants to emulate that boss, but most can’t even describe the attributes required. They know these exceptional leaders seem to have a way of finding and enticing the best people into the organization, getting exceptional performance

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7 Leadership Strategies That Assure Real Team Results

Startup Professionals Musings

Every business wants and needs top performers, but most entrepreneurs and executives assume that if they hire and train the smartest and most experienced people, they will get exceptional performance. They forget that top performance is a two-way street, requiring comparable initiative and responsiveness on the part of the leader, as well as contribution from each team member.

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7 Ways To Nurture A Winning Mindset In Business Today

Startup Professionals Musings

To achieve success in your business despite today’s volatile global markets , you and your team must have a mindset that goes beyond the traditional strategies of repeatable processes and lower costs. Everyone in the company must adopt the principles of customer-first focus, agility in responding to change, and constant innovation to improve your processes as well as the solution.

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8 Initiatives For Entrepreneurs To Find Business Help

Startup Professionals Musings

There is no skill more vital to an entrepreneur than effective networking. You can’t build your business alone, and networking is the best way to open doors, professionally and personally. For introverts like me, it’s not easy to step out of your comfort zone and meet new people, but if you approach the challenge correctly, I have found that it can actually be fun as well as productive.

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6 Unforeseen Obstacles Every New Venture Must Conquer

Startup Professionals Musings

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. They are devastated when their business growth never starts or stalls, and they have no idea how to get it moving again. As an advisor to many startups, I often spend hours with business owners helping them anticipate every possible obstacle to the adoption of their solution, and

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10 Steps To Unbeatable And Ethical Strategy Decisions

Startup Professionals Musings

Most entrepreneurs are so overwhelmed by the day-to-day challenges of their business that they rarely take the time to work on longer-term strategy (they work in the business versus on the business). As a result, strategy decisions are made in the same ad-hoc crises style as operational decisions, and the business suffers. Gut reactions are rarely the optimal solution to any problem.

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7 Entrepreneur Self-Assessment Attributes For Success

Startup Professionals Musings

As a mentor to aspiring entrepreneurs, and having graduated from a big company myself, I talk to many people who have spent years struggling up the corporate ladder who dream of jumping ship and becoming an entrepreneur. I typically suggest that the grass always looks greener on the other side, and the move from employee to entrepreneur is very risky and not for everyone.

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6 Keys To Predicting The Performance Of Your Business

Startup Professionals Musings

Every business owner and entrepreneur like you I work with wishes they could better predict product demand and sales, for managing inventory and long-term business planning. We all have our favorite metric and our passion, but keeping up with real-world changes and trends seems to be always just out of reach. The issues are people oriented, and require trust and teamwork.

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5 Crowdfunding Concerns Worry Professional Investors

Startup Professionals Musings

With the advent and growth of crowdfunding over the past few years, many entrepreneurs have predicted the demise of angel investment groups and venture capital organizations. In fact, the latest figures show that crowdfunding globally is expected to grow from USD 1.41 billion to USD 3.62 billion by 2030, exceeding the amounts contributed by either angel groups or VCs alone.

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StartupSD 1st Mondays August 2023 Recap & Pictures

Startup San Diego

Over 280+ community members came together for a packed event at the Jacobs Center for Neighborhood Innovation this past 1st Mondays. Huge thank you to our Startup San Diego volunteers, interns and staff for setting up the stage, manning registration, and making sure the event ran smoothly. Also, thank you to Nelly’s Kitchen for catering […] The post StartupSD 1st Mondays August 2023 Recap & Pictures appeared first on Startup San Diego.

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Introducing the Startup San Diego Membership Program

Startup San Diego

Startup San Diego started as a humble grassroots organization in 2013 with a small team of volunteers who wanted to unite the startup community for the inaugural San Diego Startup Week. Since then, it has grown to more than just a week-long conference. As an official 501(c)(3) non-profit organization with a board of directors, staff, […] The post Introducing the Startup San Diego Membership Program appeared first on Startup San Diego.

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Ouch! If I had only learned this before losing millions!

Berkonomics

Know your market and competition, or don’t spend a dime on anything else. I love absolutes – statements with no wiggle room for gray-area responses. Well, here is one of those, and it deals with market research first and foremost. Let me tell you a short story at my own expense. In 1994, (I know a long time ago), I invested over a million dollars (two million six hundred thousand in today’s dollars) into a company whose entrepreneurs had a vision that I bought into for many reasons, not the le

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5 Strategies Of A Startup Founder To Inspire The Team

Startup Professionals Musings

“If we build it, they will come.” I’ve heard it many times from technical entrepreneurs who should know better than to believe the old “ Field of Dreams ” sports fantasy movie theme in today’s Internet information overload environment. These days, building a new business is all about visibility and marketing, no matter how great or innovative a solution you bring to the table.

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6 Keys To Preparing Your Business Team For The Future

Startup Professionals Musings

Most companies I work with, like yours, are still reeling from the effects of COVID-19, the rise of inflation, and talent shortages. They are rightly thinking about a strategy to be better prepared for future challenges , recognizing that more are coming in this age of accelerating change and global competition. I’m always on the lookout for more practical insights and guidance to get started.