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

AUGUST 21, 2021

Yet as a business advisor I am convinced that making the jump from a startup to a the next unicorn takes a different mindset, and actions most entrepreneurs are reluctant to face. In my experience, less than half of founding entrepreneurs even aspire to stay and scale their company. Switch your focus from product development to sales.

Startup 151

Startup Course Sales Entrepreneur 151

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

JUNE 18, 2023

In all cases, don’t skip the basic training. 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. Don’t stand still.

Startup 112

Startup Coach Metrics Marketing 112

InfoChachkie

JANUARY 16, 2018

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. Semick: We’re a very metrics driven company, and we have been from the beginning.

Venture Capital 115

Venture Capital Entrepreneur Santa Barbara SaaS 115

Startup Professionals Musings

NOVEMBER 4, 2016

In all cases, don’t skip the basic training. 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. Don’t stand still.

Entrepreneur 93

Entrepreneur Startup Coach Metrics 93

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. Managing business growth is more than metrics.

Startup 97

Startup Sales Metrics Guide 97

Both Sides of the Table

SEPTEMBER 27, 2010

These days that’s not the case and it’s a great outcome for entrepreneurs and for innovation. A: Only because it’s a nicer branding for entrepreneurs. I totally agree and have been arguing this to entrepreneurs for years. I always counsel young entrepreneurs to start on the local train.

Venture Capital 308

Venture Capital Training Startup Entrepreneur 308

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

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

APRIL 7, 2011

In all cases, don’t skip the basic training. 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. then you can start writing a recipe.

Entrepreneur 91

Entrepreneur Startup Writing Metrics 91

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. Managing business growth is more than metrics.

Startup 108

Startup Sales Metrics Entrepreneur 108

Startup Professionals Musings

AUGUST 19, 2016

Unfortunately, many passionate entrepreneurs read this initial surge as success, and charge ahead with more of the same passion, leading to a series of potential pitfalls that can quickly jeopardize the health of the entire business. Prices need to be reviewed to cover total costs and margin.

Startup 57

Startup Training Entrepreneur Customer 57

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

JUNE 21, 2013

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. Train and coach continuously.

Customer 92

Customer Custom Startup Services 92

Startup Professionals Musings

MAY 24, 2015

I recognize that entrepreneurs tend to substitute vision and passion for formal processes, but 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. Solo entrepreneurs, with a team of helpers, will be assumed to be a hobby rather than a business.

Outsource Development 99

Outsource Development Startup Competition Ideas 99

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 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. Managing business growth is more than metrics.

Sales 96

Sales Metrics Startup Entrepreneur 96

Startup Professionals Musings

JANUARY 25, 2016

The bar is being raised, so every entrepreneur needs new initiatives just to stay in the ballgame. Some entrepreneurs are so focused on their technology, they assume their customers think the same way. It must be written down, with measurable team objectives, validated by metrics and compared against competition.

Customer 55

Customer Custom Startup Coach 55

Startup Professionals Musings

MAY 28, 2016

I recognize that entrepreneurs tend to substitute vision and passion for formal processes, but 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. Solo entrepreneurs, with a team of helpers, will be assumed to be a hobby rather than a business.

Ideas 62

Ideas Outsource Development Startup Competition 62

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. Managing business growth is more than metrics.

Startup 56

Startup Sales Metrics Guide 56

Startup Professionals Musings

DECEMBER 30, 2016

Entrepreneurs don’t realize that Facebook spent over $100 million, before revenues from advertising turned cash positive. You need metrics to show dominant penetration of the relevant customer demographic, added value over existing media, and real customer testimonials of value. Business founders need deep pockets for this model.

Advertising 63

Advertising Content Social Media Satisfaction 63

Startup Professionals Musings

APRIL 1, 2019

Too many employees expect a raise or promotion before they accept new responsibility, rather than demonstrating their value, getting training and experience first. Quantify your results in terms of cost per transaction, higher customer satisfaction, lower prices, and profit per employee, rather than number of transactions or hours worked.

Technical Advisors 75

Technical Advisors Startup Satisfaction Customer 75

InfoChachkie

MAY 22, 2012

The same should be true of an entrepreneur who is attempting to secure money from sophisticated investors. Step 1: The Person, Not The Firm – As Brad Feld and Jason Mendelson make clear in their book Venture Deals , entrepreneurs should identify specific venture partners, rather than target firms as a whole. It’s not.”

Venture Capital 236

Venture Capital Capital Research Customer 236

Startup Professionals Musings

DECEMBER 30, 2012

In all cases, don’t skip the basic training. 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. then you can start writing a recipe.

Startup 96

Startup Writing Metrics Marketing 96

SoCal CTO

MARCH 5, 2007

One of his companies - Gluecode - was sold to IBM for a pretty good price. Common revenue streams are consulting, training, support, customization, upgraded versions for corporate applications, etc. Technology Advisor Technology Roles in Startups Pricing Customer Acquisition Sunk Costs and More -.

Southern California 150

Southern California CTO Coach CTO Hire Social Media 150

Tech Zulu Event

MARCH 25, 2014

Tons of great conversations about new startups, hardware, and the entrepreneurs building them. It’d been a big year in tech, and the different supporting parts of team TZ – so what better way to kick off the festivities with an inaugural train-bound journey, courtesy of the good people at Amtrak.

Entertainment 99

Entertainment Google Entrepreneur Course 99

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. In all cases, you need customer support, formal processes and training in place. An experienced and skilled team on board.

Pricing 100

Pricing Technical Review Entrepreneur Startup 100