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A heartbreaking story about time and money.

Berkonomics

First, think about your time as money! Since this number is budgeted and pre-authorized, managers tend to focus upon other things such as sales, marketing and product development issues. How about young or pre-revenue companies? We’ll get to my heartbreak in a minute. The art of good management.

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Entrepreneurism is all about personal risk.

Berkonomics

The same is true about marketing. Here’s the ultimate thing about entrepreneurism. Resources such as money, experience, statistics about your target, experienced marketing and sales talent, and especially a compelling need and attractive product are all important to the ultimate success of an enterprise.

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Three questions to answer about your COVID response

Berkonomics

Raising money during this crisis will be almost impossible, even from friends and family shocked by the stock market declines. There is lots of literature published by the SBA, attorneys and accounting firms about both. Do you still need marketing costs when there is no-one out there buying new product?

Layoffs 218
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Should Startups Care About Profitability?

Both Sides of the Table

(They actually lost about $175 million in cash in that quarter, FWIW. The most obvious way to explain this is with sales people. If you hire 6 senior sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business 6 months.

Startup 227
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Why Your Startup Needs a Sales Methodology

Both Sides of the Table

Like most startup entrepreneurs, when I began my first company in 1999 I had no formal sales experience. It’s what I call “ the evangelical phase ” of a company in which you’re out trying to persuade customers that a product you’ve designed is going to meet their needs better than other solutions on the market.

Sales 393
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Some Thoughts about Selling at Startups

Both Sides of the Table

If you haven’t read Adam Lashinsky’s awesome new book about Apple , you should. It takes on many of the lessons MBA programs and Corporate America have been teaching about business for the past 50+ years and questions whether lessons from Apple might be more applicable in thinking about the future.

Startup 319
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Ghost appears with new funding, marketplace to match buyers with unsold products

TechCrunch LA

It also handles the back end as well by automating the posting, sale and shipment of unsold inventory while offering immediate payment to creditworthy sellers. More people are focused on the beginning of the product lifecycle; very few are focused at the end.”. That’s our vision.”.

Product 191