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10 Strategies To Avoid Bad Risks In Your New Venture

Startup Professionals Musings

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Even non-profits need revenue to cover their costs, and continue to provide services. Use metrics to measure results of marketing initiatives.

Resource 121
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5 Keys To A Viable Spending Rate And Cash Management

Startup Professionals Musings

Cash flow is a basic survival metric for every startup. Count on six months from beginning the funding process until a new check is cashed. Always add 20 percent to your best estimate of funding requirements when approaching investors. Be a miser with contract services and facilities. You will make mistakes.

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6 Ways To Improve Your Odds Of New Business Success

Startup Professionals Musings

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. Growing too fast kills many new ventures, due to staffing costs, inventory, and funding delays.

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6 Marketing Accelerators For Boosting Business Growth

Startup Professionals Musings

For example, many investors I know tell me they look for business plans that allocate the largest portion of a requested investment to marketing, but most often see the top “ use of funds ” to be further product or service development. Of course, you can’t possibly brand yourself if you don’t know who you really are.

Marketing 133
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10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Even non-profits need revenue to cover their costs, and continue to provide services. Use metrics to measure results of marketing initiatives.

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10 Business Practices Owners Often Learn The Hard Way

Startup Professionals Musings

Thus, over the years of my mentoring and consulting efforts with entrepreneurs, I have a key list of practices that I recommend to everyone starting and growing a business. Betting on funds you don’t yet have has crashed many businesses I know. Use metrics on key deliverables to assure quality results.

Startup 134
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5 Ways To Conserve Investor Cash And Ensure Survival

Startup Professionals Musings

Cash flow is a basic survival metric for every startup. Count on six months from beginning the funding process until a new check is cashed. Always add 20 percent to your best estimate of funding requirements when approaching investors. Be a miser with contract services and facilities. You will make mistakes.