Startup Professionals Musings

FEBRUARY 5, 2023

According to most definitions, an entrepreneur is one who envisions a new and different business, meaning one that is not a copy of an existing business model. Many entrepreneurs have a passion and an idea, or even invent a new product, but are never able to execute to the point of creating a startup. Startup and development stage.

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Berkonomics

FEBRUARY 24, 2012

I cannot tell you how many times I have seen executive summaries of business plans in which the entrepreneur seeks $5,000,000 to build the business. First, few startups can use that much money today with all of the virtual services available and increasingly inexpensive methods of development, prototyping and marketing.

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Startup Professionals Musings

JUNE 19, 2023

Every entrepreneur has an idea for transforming a market with innovative new technology, or transforming society with a new process. Entrepreneurs who have been really transformative, like Steve Jobs and Walt Disney, seemed to know how to deal with all the right elements. Seek innovation that begets invention. Failure is an option.

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TechCrunch LA

JUNE 16, 2020

Ksenia Yudina initially founded the company to provide financial planning and services to lower- and middle-class families looking for ways to start saving for their children’s education, she said. “To me the investment in UNest is a great opportunity to help my community.

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Berkonomics

AUGUST 17, 2023

Trusted, close resources include sophisticated relatives, friends and business associates who know how to structure a deal as a win-win for you and for them, while allowing you to retain control over your vision and execution. So how does this fit into this sandwich of alternatives?

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Startup Professionals Musings

AUGUST 25, 2021

In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. Able to marshal people and other support resources. Entrepreneurs must react and recover quickly.

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Startup Professionals Musings

SEPTEMBER 16, 2023

The rate of new entrepreneurs increased between 2013 and 2021, from 280 to 360 out of 100,000 of the adult population. Of course, that’s both the good news and the bad news for aspiring entrepreneurs, since it means more competition, and the business landscape is changing faster than ever.

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Startup Professionals Musings

AUGUST 11, 2021

Most of you aspiring entrepreneurs probably have long searched for that special idea that will catapult you and your startup to success. That takes focus, resolve, resources, and problem solving to make it happen. True entrepreneurs are born, not made. Every inventor is an entrepreneur by default.

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Startup Professionals Musings

FEBRUARY 8, 2020

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. These are risks that can be mitigated with the right resources. In reality, all risks are not the same.

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Startup Professionals Musings

JULY 13, 2015

Every entrepreneur I know is short on resources, including time, money, and skills. Waste in a startup is any activity that spends resources, but creates no value or competitive advantage in the eyes of customers. Too many entrepreneurs confuse action with momentum and results. Defective products and services.

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Startup Professionals Musings

DECEMBER 13, 2021

In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Remember that being an entrepreneur is all about starting and running a business, after the initial invention.

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Startup Professionals Musings

MAY 5, 2014

The cost of entry for an aspiring entrepreneur has never been lower, and the total wealth of opportunities has never been larger. A while back, I focused on the e-Commerce side, so this time I wanted to highlight how a shortage of something, like natural resources, should be seen by an aspiring entrepreneur as a wealth of new startup ideas.

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Startup Professionals Musings

FEBRUARY 17, 2021

With the appearance of do-it-yourself services on the Internet, entrepreneur curriculums at every university, and a wealth of new books on the subject, the need for expensive consultants and business advisors has also been mitigated. A programmer can build a new smartphone app for a few thousand dollars.

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Startup Professionals Musings

JANUARY 8, 2018

Every entrepreneur I know is short on resources, including time, money, and skills. Waste in a startup is any activity that spends resources, but creates no value or competitive advantage in the eyes of customers. Too many entrepreneurs confuse action with momentum and results. Defective products and services.

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Startup Professionals Musings

JULY 4, 2021

Every entrepreneur I know is short on resources, including time, money, and skills. Waste in a startup is any activity that burns resources, but creates no value or competitive advantage in the eyes of customers. Too many entrepreneurs confuse action with momentum and results. Defective products and services.

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Startup Professionals Musings

JUNE 25, 2021

It seems like everyone wants to be an entrepreneur and get rich these days. There are lots of resources available for that question, including the Internet and mentors like me. As an example of a good resource, I enjoyed the classic book, “ Idea To Invention ,” by Patricia Nolan-Brown, that does a great job on the key steps.

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Startup Professionals Musings

MAY 31, 2020

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Is it any wonder why so few entrepreneurs ever find the professional investors they seek? Each of these activities should have associated costs and resource requirements.

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Startup Professionals Musings

FEBRUARY 5, 2020

As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. Each of these can go astray as follows: Your product or service hits unexpected snags.

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Startup Professionals Musings

JULY 5, 2021

As I have said many times, the cost of entry for an aspiring entrepreneur has never been lower, and the total wealth of opportunities has never been larger. I was inspired by the classic book, “ Resource Revolution: How to Capture the Biggest Business Opportunity in a Century ,” by Stephan Heck and Matt Rogers.

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Startup Professionals Musings

NOVEMBER 29, 2019

As a mentor to many aspiring entrepreneurs, I challenge them to think beyond what I call linear extensions to a current trend, such as another “easier-to-use” app for smartphones, a new dating site for pets, or another niche social network. Why doesn’t this product or service already exist? Great social entrepreneurs are rare.

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Berkonomics

MARCH 16, 2023

As an early-stage investor, the first test for me is whether “my” entrepreneur is flexible in both the plan and execution of their vision (since from experience almost everything about a business plan changes over time), and whether that person, no matter what age or experience, is coachable. Why should we ask this question?

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Startup Professionals Musings

JANUARY 23, 2021

Most entrepreneur that fail are quick to offer a litany of constraints that caused their demise – not enough money, time, customers, or support from the right players. The result, called resourcefulness, allows entrepreneurs to create opportunities in the face of scarcity. Let your constraints drive innovation.

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Startup Professionals Musings

JANUARY 12, 2020

Every new entrepreneur has to initiate the right actions to be perceived as a leader in their chosen business domain by their team and by their customers, or the road to success and satisfaction will be lost along the way. No entrepreneur can build a business alone. Allocates adequate resources to overcome constraints.

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Startup Professionals Musings

APRIL 17, 2016

Thus smart business professionals are rapidly becoming the new entrepreneurs. Of course, entrepreneurs delivering services have existed for some time, including business consultant, independent contractor, and freelancer titles. For existing trained professionals, it’s an opportunity to become an entrepreneur.

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Berkonomics

JANUARY 25, 2024

Entrepreneurs will have a relative willing to devote time, a school friend with business experience, professionals who charge for the service, investors with a reason to promote your success and more. We had no term for such work in those days and created the phrase “resource capitalist” to describe the person and process.

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Startup Professionals Musings

JUNE 13, 2020

Too many entrepreneurs tell me they are looking for an investor, and can’t differentiate between venture capital (VC) investors versus accredited angel investors. Angels are more likely to fund new entrepreneurs, and early-stage or seed rounds, while VCs tend to focus on entrepreneurs with a successful track record, and later stage rounds.

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Berkonomics

FEBRUARY 3, 2010

So how does the statement above fit into this sandwich of alternatives? Trusted, close resources include sophisticated relatives, friends and business associates who know how to structure a deal as a win-win for you and for them, while allowing you to retain control over your vision and execution.

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Berkonomics

AUGUST 3, 2023

Certainly, bootstrapping is a preferred method of funding growth if it does not hold back the speed of growth or hobble the quality of product or service to the extent that better-funded competitors can overtake the business. There is a lot to say about retaining control.

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Startup Professionals Musings

OCTOBER 11, 2023

Most new business owners I know feel the challenges of not enough time, money, and resources, and see these as problems rather than a competitive advantage. Many are quick to call this innovation, but I believe it is often just the resourcefulness of a highly motivated owner and team, who never give up in the face of a survival challenge.

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Startup Professionals Musings

MAY 29, 2021

An underutilized, but valuable resource, every startup should investigate is a formal or informal connection to your alma mater, including any local university. Here is a short list of the areas where you should be able to find help, whether you are a student or an independent entrepreneur: Exploring hot ideas. Early-stage funding.

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Tech.Co

DECEMBER 15, 2017

Entrepreneurs have become more resourceful since the 80s, and your options are more diverse as well. The Instagram lifestyle may have inspired a slew of would-be entrepreneurs to merge work and travel as never done by previous generations. Here are 4 location types and their benefits for you to consider. Home Office.

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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. These are risks that can be mitigated with the right resources. In reality, all risks are not the same.

Resource 121

Resource Metrics Entrepreneur Customer 121

socalTECH

MARCH 28, 2019

Earlier this month, the annual Montgomery Summit conference was held in Santa Monica, including a special portion of the conference dedicated to the Rise of the Female Entrepreneur. I see you were involved in the Rise of the Female Entrepreneur effort at the Montgomery Summit this year, tell me a little about what that is all about?

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Startup Professionals Musings

MAY 30, 2014

Every entrepreneur I know is short on resources, including time, money, and skills. Waste in a startup is any activity that absorbs resources, but creates no value or competitive advantage in the eyes of customers. Too many entrepreneurs confuse action with momentum and results. Defective products and services.

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Berkonomics

MAY 13, 2021

Several years ago, I wrote a book entitled, Extending the Runway , using parallels to piloting a plane to equate to the process of creating and building a small company, making maximum use of resources to get to and beyond breakeven. The five resources boards and investors can add to a company. It is worth revisiting the most.

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Berkonomics

OCTOBER 8, 2020

Most entrepreneurs quote a resource for market size but fail to then take the next step to eliminate all parts of that market unreachable by the company or product. That’s likely to be completely unreachable for you with almost any amount of resources. Sources for your data.

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Startup Professionals Musings

JUNE 3, 2023

One of the reasons that now is the time to be an entrepreneur is the explosion of startup assistance organizations, usually called incubators or accelerators. A few are still trying to make a profitable business out of nurturing startups, but it’s a challenge to make money when your customer startups don’t have many resources to give.

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