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. And the truth is that several entrepreneurs prefer it this way. However, to be a great VC you have to hold two conflicting ideas in your head at the same time.

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. Cost of customer acquisition.

Metrics 106

Metrics Startup Sales Statistics 106

Startup Professionals Musings

MAY 30, 2022

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. That’s where I see too much entrepreneur burnout, growth plateaus, and founders being replaced, to their chagrin. Of course, not every entrepreneur wants to tackle this challenge. There is no free lunch.

Sales 147

Sales Metrics Guide Startup 147

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

Startup Professionals Musings

NOVEMBER 2, 2022

Entrepreneurs see “no risk” as meaning “no reward.” There are no guarantees in business, but it pays to learn from the experiences of entrepreneurs and business experts who have gone before you. Risk is more manageable with subscriptions and even freemium pricing. Use metrics to measure results of marketing initiatives.

Resource 121

Resource Metrics Entrepreneur Customer 121

Startup Professionals Musings

MARCH 10, 2023

I recognize that entrepreneurs tend to substitute vision and passion for formal processes, but using no discipline or process in building something new is a sure way to spend money, rather than see any return and build a self-sustaining business. Marketing, sales, support, and service operations. Solution development and delivery.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

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. When sales fall off, you need to dig deep for the “why,” rather than just assuming the price needs to go down.

Marketing 162

Marketing Social Media Metrics Customer 162

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 21, 2013

Most leaders agree that poor customer service is a business killer today, in terms of lost customers, reduced profits, and low morale. Young entrepreneurs and startups, in particular, often remain naively unfocused, despite their passion, of what it takes to provide the high-quality service expected.

Customer 92

Customer Custom Startup Services 92

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.

Entrepreneur 106

Entrepreneur eBook Metrics Startup 106

Startup Professionals Musings

APRIL 7, 2021

These things change so fast these days that the primary role of the entrepreneur as CEO is to be the Master of Realignment. Most entrepreneurs recognize the need to pivot on a regular basis, but many forget that pivoting usually requires a realignment effort to get all the players back in sync. Communicate, communicate, communicate.

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

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. What does traction really mean to investors, and how much is enough? Let me try to clarify the rules, and what it takes to win at this game. First of all, a definition.

Startup 121

Startup Metrics Customer Custom 121

Startup Professionals Musings

JULY 26, 2021

Intuitively, many entrepreneurs and businesses believe that the key to faster growth and success is more products, features, and markets. All entrepreneurs must succeed first as specialists, using pivots as required to zero in on the real and current market. Well-articulated goals and metrics.

Startup 154

Startup Resource Entrepreneur Metrics 154

Startup Professionals Musings

NOVEMBER 28, 2013

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 100

Technical Review Entrepreneur Summary Pricing 100

Startup Professionals Musings

DECEMBER 27, 2019

As a mentor to entrepreneurs, I often get asked for the magic that has made Amazon the world's most valuable brand , from a total unknown only twenty years ago. They present a convincing story that every entrepreneur has the same potential, but most get sidetracked and bogged down by their technology, competitors, and internal organization.

Marketing 123

Marketing Technical Review Customer Custom 123

InfoChachkie

JANUARY 16, 2018

It’s usually a spreadsheet or PowerPoint (deck) of the upcoming changes to a product or service. Greathouse: Your collective experiences have clearly made bootstrapping a viable option for you, more so than might be the case for a typical, younger entrepreneur who needs more direction, doesn’t have cash discipline, etc.

Venture Capital 115

Venture Capital Entrepreneur Santa Barbara SaaS 115

Startup Professionals Musings

AUGUST 8, 2016

As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. Thus I was pleased and a bit surprised to see a new book, “ The Purpose Is Profit ,” by Ed “Skip” McLaughlin, an entrepreneur who has both succeeded and failed in starting multiple businesses.

Entrepreneur 58

Entrepreneur Ideas Pricing Customer 58

Startup Professionals Musings

APRIL 28, 2021

Almost every entrepreneur and new business owner I mentor is certain that his/her idea has a very high probability of success, and all find it hard to believe that ninety percent of startups ultimately fail. I once met with an entrepreneur who had developed a new algae strain to cure world hunger and make him rich.

Technical Review 131

Technical Review Case Study Mentor Software Review 131

Startup Professionals Musings

SEPTEMBER 1, 2019

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. That’s where I see too much entrepreneur burnout, growth plateaus, and founders being replaced, to their chagrin. Of course, not every entrepreneur wants to tackle this challenge. There is no free lunch.

Startup 97

Startup Sales Metrics Guide 97

Startup Professionals Musings

NOVEMBER 4, 2016

You need a good cook, good marketing, and first-class service. Have you set the right price for your entrée, and correctly included all costs? Develop metrics with which to measure yourself and use these to incrementally expand and improve your offering as fast as the market and capital will allow. But don’t practice too long.

Entrepreneur 93

Entrepreneur Startup Coach Metrics 93

Both Sides of the Table

MAY 27, 2016

As a starting point I have to believe the founder has the attributes of an entrepreneur that matter most to me : Tenacity, resiliency, inspiration, perspiration, attention-to-detail, competitiveness, decisiveness, risk tolerance and integrity. I am much more attracted to technical product teams than to new business concepts or commerce types.

Invest 254

Invest Writing Pricing Metrics 254

Startup Professionals Musings

JULY 24, 2012

These things change so fast these days that the primary role of the entrepreneur as CEO is to be the Master of Realignment. Most entrepreneurs recognize the need to pivot on a regular basis, but many forget that pivoting usually requires a realignment effort to get all the players back in sync. Communicate, communicate, communicate.

Entrepreneur 93

Entrepreneur Social Media Startup Framework 93

Startup Professionals Musings

JUNE 18, 2023

You need a good cook, good marketing, and first-class service. Have you set the right price for your entree, and correctly included all costs? Develop metrics with which to measure yourself and use these to incrementally expand and improve your offering as fast as the market and capital will allow. But don’t practice too long.

Startup 112

Startup Coach Metrics Marketing 112

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. Today, customer loyalty is based on the “ total customer experience ,” as opposed to price or service alone.

Mentor 133

Mentor Startup Customer Custom 133

Startup Professionals Musings

SEPTEMBER 9, 2015

Entrepreneurs see “no risk” as meaning “no reward.” There are no guarantees in business, but it pays to learn from the experiences of entrepreneurs and business experts who have gone before you. Risk is more manageable with subscriptions and even freemium pricing. Use metrics to measure results of marketing initiatives.

Startup 115

Startup Resource Metrics Entrepreneur 115

Startup Professionals Musings

FEBRUARY 4, 2015

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. That’s where I see too much entrepreneur burnout, growth plateaus, and founders being replaced, to their chagrin. Of course, not every entrepreneur wants to tackle this challenge. There is no free lunch.

Startup 108

Startup Sales Metrics Entrepreneur 108

Startup Professionals Musings

APRIL 7, 2011

Alain Theriault, better known as StartupCoach , tells entrepreneurs that, on your way to being a great chef, you don't start by writing a cook book (business plan), you work in the kitchen for a while, you learn some tools of the trade, you experiment with a few recipes, you test on willing clients. then you can start writing a recipe.

Entrepreneur 91

Entrepreneur Startup Writing Metrics 91

Startup Professionals Musings

AUGUST 27, 2014

Entrepreneurs see “no risk” as meaning “no reward.” There are no guarantees in business, but it pays to learn from the experiences of entrepreneurs and business experts who have gone before you. Risk is more manageable with subscriptions and even freemium pricing. Use metrics to measure results of marketing initiatives.

Startup 113

Startup Resource Metrics Entrepreneur 113

Startup Professionals Musings

FEBRUARY 24, 2017

Most of the guidance you see for entrepreneurs is aimed at those who are selling a product (Apple, Tesla, Xiaomi), or selling a service (Uber, Airbnb, Snapchat). The challenges for making money and survival in these professional services worlds are different, maybe even tougher. Set pricing to assure both revenue and profit.

Social Media 56

Social Media Pricing Technical Review Demand 56

Startup Professionals Musings

FEBRUARY 17, 2018

Entrepreneurs see “no risk” as meaning “no reward.” There are no guarantees in business, but it pays to learn from the experiences of entrepreneurs and business experts who have gone before you. Risk is more manageable with subscriptions and even freemium pricing. Use metrics to measure results of marketing initiatives.

Resource 64

Resource Metrics Entrepreneur Customer 64

Startup Professionals Musings

AUGUST 7, 2020

In the short term you need customers to find you at any price, and in the longer term you need revenue, profit, and return loyalty. Even a million users on your social media site won’t pay the bills until you sell some advertising or a premium service. Cote, former Chairman and CEO of Honeywell.

Technical Review 124

Technical Review Layoffs Social Media Metrics 124

Startup Professionals Musings

NOVEMBER 4, 2019

Thus, I’m more impressed with entrepreneurs who ask me to review their implementation plan, rather than listen again to their idea. For inspiration, I recommend you watch a few episodes of the Shark Tank TV series, where entrepreneurs pitch their wares, looking for an investment and national visibility for their product or service.

Ideas 94

Ideas Slides Technical Review Patents 94

Startup Professionals Musings

OCTOBER 2, 2015

Yet, as an advisor to startups, I see some common disasters, and recommend some anticipation and recovery moves that can save every entrepreneur some painful time and money. While every entrepreneur needs to remain upbeat and optimistic on all of these, it is also smart to anticipate the worst case scenarios that are possible with each.

Startup 105

Startup Entrepreneur Marketing Satisfaction 105

Startup Professionals Musings

NOVEMBER 14, 2015

Every entrepreneur is quick to tell friends and potential investors about his or her vision of changing the world, about all the customers who have expressed an interest, and about all the other investors who are lining up to get a piece of the action. Many entrepreneurs feel they need to spend more money to increase traction.

Acquisition 100

Acquisition Entrepreneur Customer Custom 100

Startup Professionals Musings

NOVEMBER 3, 2013

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. That’s where I see too much entrepreneur burnout, growth plateaus, and Founders being replaced, to their chagrin. Of course, not every entrepreneur wants to tackle this challenge. There is no free lunch.

Sales 96

Sales Metrics Startup Entrepreneur 96

Startup Professionals Musings

SEPTEMBER 13, 2017

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. That’s where I see too much entrepreneur burnout, growth plateaus, and founders being replaced, to their chagrin. Of course, not every entrepreneur wants to tackle this challenge. There is no free lunch.

Startup 56

Startup Sales Metrics Guide 56