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

SEPTEMBER 20, 2019

These changes can be cultural, like the increasing need to be social, spawning Facebook and a hundred others, or technological, like the explosion of mobile devices around the world. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books. New unmet consumer or customer needs.

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. 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

OCTOBER 21, 2023

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. So what should an entrepreneur do to convince themselves, as well as potential investors, that they have a viable business model before it is totally proven?

Customer 109

Customer Custom Satisfaction Sales 109

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

SEPTEMBER 22, 2023

Young entrepreneurs and startups, in particular, often remain naively unfocused, despite their passion, of what it takes to provide the high-quality service expected. It’s a tough job, and inexperienced entrepreneurs just don’t know where to start, and how to do it. Yet the average perception of customer experience has not improved.

Competition 99

Competition Services Startup Training 99

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. New technologies drive the need for support and attachments, which could be your opportunity or loss. Proactively evaluate new technologies for impact.

Marketing 162

Marketing Social Media Metrics Customer 162

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. Formalize the use of tools and information technology. Solution development and delivery.

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

JUNE 20, 2022

These changes can be cultural, like the increasing need to be social, spawning Facebook and a hundred others, or technological, like the explosion of mobile devices around the world. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books. New unmet consumer or customer needs.

eBook 111

eBook Metrics Examples Startup 111

Startup Professionals Musings

MARCH 18, 2015

These changes can be cultural, like the increasing need to be social, spawning Facebook and a hundred others, or technological, like the explosion of mobile devices around the world. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books. New unmet consumer or customer needs.

Entrepreneur 106

Entrepreneur eBook Metrics Startup 106

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. So what should an entrepreneur do to convince themselves, as well as potential investors, that they have a viable business model before it is totally proven?

Sales 165

Sales Customer Custom Social Media 165

Startup Professionals Musings

JANUARY 8, 2021

Young entrepreneurs and startups, in particular, often remain naively unfocused, despite their passion, of what it takes to provide the high-quality service expected. It’s a tough job, and inexperienced entrepreneurs just don’t know where to start, and how to do it. Yet the average perception of customer experience has not improved.

Startup 154

Startup Training Customer Custom 154

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. The basic alignment framework of strategy, customers, people, and processes hasn’t changed, but the pace of technological, competitive, and social change has increased at an amazing rate.

Social Media 143

Social Media Startup Framework Course 143

Startup Professionals Musings

JANUARY 17, 2022

Based on my experience advising new businesses, all of the principles that he outlines, including the following subset which I generalize here, should be taken to heart by every entrepreneur: Give customers fewer things that matter more. Pick a single metric that is the focus for all growth. Less is more.

Startup 144

Startup Social Media Metrics Customer 144

Startup Professionals Musings

NOVEMBER 30, 2022

As an investor in startups, I most often see entrepreneurs who are technologists, or at least have a real passion for a specific product. Typically this means describing interactions with customer groups, real customer feedback, and showing an understanding of price sensitivity, alternatives, and competitive offerings.

Startup 113

Startup Customer Custom Technical Review 113

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. My simple answer is that they keep their focus on customers, rather than technology. Incorporate AI-powered data and metrics systems.

Marketing 123

Marketing Technical Review Customer Custom 123

Startup Professionals Musings

JANUARY 6, 2021

Based on my experience advising new entrepreneurs as well as more mature businesses, I recommend the following strategies for building business momentum, while still optimizing the limited resources of every small business: Find more customers that like what you do best. Focus first on finding more of the right customers.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

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

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. The basic alignment framework of strategy, customers, people, and processes hasn’t changed, but the pace of technological, competitive, and social change has increased at an amazing rate.

Entrepreneur 93

Entrepreneur Social Media Startup Framework 93

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

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. You can be pissed off, but I don’t set prices. That’s stupid.

Startup 336

Startup Pricing Technical Review Marketing 336

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. Reasonably technical concepts. Innovator’s Dilemma. Early stage.

Invest 254

Invest Writing Pricing Metrics 254

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. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Customers like leaders, not followers.

Startup 115

Startup Resource Metrics Entrepreneur 115

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. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Customers like leaders, not followers.

Startup 113

Startup Resource Metrics Entrepreneur 113

Startup Professionals Musings

SEPTEMBER 28, 2015

Too many entrepreneurs look for that one magic bullet -- an exciting new technology, perhaps, or their own determination to make the world a better place -- to override any shortcomings in their startup model. Validated pricing and a sufficient revenue stream. Yet, magic bullets are not sufficient to assure business success.

Pricing 100

Pricing Technical Review Entrepreneur Startup 100

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. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Customers like leaders, not followers.

Resource 64

Resource Metrics Entrepreneur Customer 64

Startup Professionals Musings

JANUARY 30, 2017

Entrepreneurs are people who dream up new ideas, and then commercialize them into new businesses. Yet, in my experience as a mentor to entrepreneurs, the majority of failures I see are related to starting and growing the business, not developing the solution. In today’s world, the market evolves even faster than the technology.

Ideas 72

Ideas Startup Metrics Entrepreneur 72

socalTECH

DECEMBER 11, 2017

Our interview this morning is with Scott Cannon , the CEO of BigRentz (www.bigrentz.com), which is creating an online marketplace for big equipment--an industry known notoriously as not adopting new technology. They've been resistant to technology for a long time. Then there was haggling back and forth about price.

Startup 174

Startup Metrics Customer Custom 174

Startup Professionals Musings

APRIL 20, 2015

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. So what should an entrepreneur do to convince themselves, as well as potential investors, that they have a viable business model before it is totally proven?

Startup 107

Startup Sales Customer Custom 107

Startup Professionals Musings

APRIL 15, 2019

Based on my experience advising new businesses, all of the principles that he outlines, including the following subset which I generalize here, should be taken to heart by every entrepreneur: Give customers fewer things that matter more. Pick a single metric that is the focus for all growth. Less is more.

Social Media 87

Social Media Metrics Customer Custom 87

Both Sides of the Table

OCTOBER 6, 2010

But in my experience as an entrepreneur and now spending my time amongst investors I can generalize that almost all VC investments in early stage technology & Internet investments come down to just four key factors. This post was prompted by an email exchange I had with a young entrepreneur. That’s fine.

Startup 360

Startup Venture Capital Invest Slides 360

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. Although his focus is naturally on bigger companies, I contend that his recommended strategies apply equally well to entrepreneurs and startups: Demand a mindset of deep thinking for the long term.

Technical Review 124

Technical Review Layoffs Social Media Metrics 124

Startup Professionals Musings

DECEMBER 15, 2013

These changes can be cultural, like the increasing need to be social, spawning Facebook and a hundred others, or technological, like the explosion of mobile devices around the world. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books. New unmet consumer or customer needs.

eBook 95

eBook Metrics Startup Examples 95

Startup Professionals Musings

AUGUST 7, 2015

When pitching to investors, entrepreneurs always seem to start with a customer pitch, then add a slide or two about the business. Investors are business experts, while the entrepreneur is more likely the product expert. Investors are business experts, while the entrepreneur is more likely the product expert.

Product 103

Product Slides Customer Custom 103

Startup Professionals Musings

OCTOBER 8, 2018

As a long-time advisor to entrepreneurs and business owners, I rarely find someone who doesn’t proclaim that the business world is changing rapidly, with new technology, new customer expectations, and new cultures. You need to communicate quantified and updates goals quarterly, including the metrics to assess progress and success.

Technical Review 84

Technical Review Customer Custom Startup 84

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. Some dreams sound great, but may not yet be viable or proven with today’s technology. There are lots of resources available for the challenge of that activity, including the Internet and mentors like me.

Ideas 94

Ideas Slides Technical Review Patents 94

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 “product” value is difficult to quantify, the costs are nebulous, and entrepreneurs have to clone themselves to scale the business. Don’t forget seminars and events.

Social Media 56

Social Media Pricing Technical Review Demand 56