Startup Professionals Musings

JUNE 22, 2016

That should make you wonder - how do you measure traction in a metric? According to most experts , business traction is evidence that somebody really wants your product. It’s business momentum, independent of whether you have a product delivered, proven the business model, or significantly penetrated the opportunity.

Metrics 57

Metrics Funding Startup Customer 57

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

OCTOBER 21, 2023

Too many founders have learned that passion and free beta products do not imply a sustainable business. 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. Marketing is everything these days. Plan for a real revenue model.

Customer 109

Customer Custom Satisfaction Sales 109

Startup Professionals Musings

JUNE 23, 2021

For example, I commonly see metrics to keep track of revenue per employee, overtime, and absenteeism, but I don’t often see measures of overall customer satisfaction with individual employees. Incentives should be a combination of metrics and recognition to highlight results. Incent and reward employees who delight customers.

Customer 147

Customer Custom Technical Review Metrics 147

socalTECH

MAY 13, 2009

Irvine-based Kofax , which develops document capture software, announced this morning that it has launched a new product for monitoring its software. According to the firm, its new Kofax Monitor software provides real-time, enterprise monitoring and metrics. Pricing of the new software was not disclosed.

Product 100

Product Metrics Pricing Software 100

Startup Professionals Musings

JUNE 20, 2022

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 111

eBook Metrics Examples Startup 111

Both Sides of the Table

SEPTEMBER 10, 2021

On the other hand, the biggest winners will turn out to be much larger than the prices people paid for them and this will happen faster than at any time in human history. We can’t wait for customers to use the product for 12–18 months and do customer interviews or look at purchase cohorts. That used to be called A-round investing.

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Startup Professionals Musings

SEPTEMBER 11, 2021

Traction is evidence that your product or service has started that “hockey- stick” adoption rate which implies a large market, a valid business model, and sustainable growth. Free and freemium products need a solid base. Free and freemium products need a solid base. First of all, a definition. Market penetration.

Startup 121

Startup Metrics Customer Custom 121

Startup Professionals Musings

MAY 30, 2022

Early-stage entrepreneurs rightly keep their focus on creating an innovative product or service. Growth is more than simply repackaging existing products, and adding bells and whistles or slick incentives. Switch your attention from product development to sales. Managing business growth is more than metrics.

Sales 147

Sales Metrics Guide Startup 147

Startup Professionals Musings

JANUARY 22, 2021

Too many founders have learned that passion and free beta products do not imply a sustainable business. 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. Marketing is everything these days. Plan for a real revenue model.

Sales 165

Sales Customer Custom Social Media 165

Startup Professionals Musings

AUGUST 4, 2017

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Exploit your product and service differences. You must be able to highlight these differences between your products and services, and those of your competitors.

Customer 85

Customer Custom Product Marketing 85

Startup Professionals Musings

NOVEMBER 2, 2022

Plan to deliver a family of products, rather than a one-trick pony. Even a great initial product, with no follow-on, won’t keep you ahead of competitors very long. A smarter risk is to build a plan, with associated greater resources, that will put you in position to expand your product line and keep one step ahead of competitors.

Resource 121

Resource Metrics Entrepreneur Customer 121

Berkonomics

MAY 20, 2021

Most often it is the time of the chief architect of the product or service you provide, or of the best developers of that product. Sometimes it is the time of the CEO, which when overcommitted, prevents others from gaining access to solve critical problems or continue the flow of production.

Resource 156

Resource Outsource Development Metrics Customer 156

Startup Professionals Musings

AUGUST 7, 2015

Remember, investors are buying into the business, not the product. Investors are business experts, while the entrepreneur is more likely the product expert. In my experience, the team's credentials are more important than the product. Partnerships, distribution channels and pricing models should be included.

Product 103

Product Slides Customer Custom 103

Berkonomics

NOVEMBER 7, 2019

What metrics will you use to fairly evaluate each direct report? Many companies do not take the time to perform such reviews and end up paying the price in adverse rulings by courts or commissioners based upon verbal statements alone. In terms of time, this can be expensive and disruptive to you and your direct reports. Our conclusion.

Metrics 120

Metrics Report Email Pricing 120

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. Show results with a minimal viable product (MVP).

Technical Review 133

Technical Review Satisfaction Metrics Startup 133

SoCal CTO

MARCH 11, 2013

Yesterday, I was talking to a startup founder about their MVP and they said something that finally got me to write this post: "I have a few investors interested but they want to see a product." It is almost never the case that you are building an MVP to "show" to an investor the product itself.

Metrics 264

Metrics Venture Capital News Product 264

Startup Professionals Musings

JULY 30, 2021

Scan for unmet needs to match new products. When sales fall off, you need to dig deep for the “why,” rather than just assuming the price needs to go down. Establish and evaluate metrics at multiple levels. As times change, you may need new metrics, such as total experience, web site hits, and social media complaints.

Marketing 162

Marketing Social Media Metrics Customer 162

Startup Professionals Musings

SEPTEMBER 22, 2023

It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. It’s a core process that must be up and effective when you deliver your first product or service. Make your service deliver process “happy.”

Competition 99

Competition Services Startup Training 99

Startup Professionals Musings

MARCH 10, 2023

Products and services for a business need to be attuned to customer requirements, cost and quality tradeoffs, with milestones for pricing and completion. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery. Marty Zwilling

Outsource Development 115

Outsource Development Startup Competition Ideas 115

Startup Professionals Musings

MAY 1, 2019

Image via Pixabay As a mentor to many small business owners, I always caution them that you can never relax completely, just because your initial solution or product set appears to be getting traction, and the market buzz is positive. Control costs and adjust prices to maintain your margin.

Metrics 86

Metrics Startup Training Customer 86

Startup Professionals Musings

MARCH 6, 2021

I’m sure all you accountants will agree that fixing the mistakes listed here does not require rocket science, but I’ve seen them so often that to be forewarned is to be forearmed: Failing to factor in fixed costs when pricing. Always use a break-even analysis to measure what volume and price are required to offset total costs.

Technical Review 151

Technical Review Startup Summary Pricing 151

Startup Professionals Musings

AUGUST 21, 2021

Many entrepreneurs never get past their first-stage focus on their innovative product, to scaling the business globally, organizing a structure to handle thousands of employees, and concentrating their focus “on the business” rather than working “in the business.” Switch your focus from product development to sales.

Startup 151

Startup Course Sales Entrepreneur 151

Startup Professionals Musings

OCTOBER 20, 2023

For example, consider Whole Foods , whose focus on healthy foods and a sustainable environment is legendary, even though their prices are often a bit higher. Quantify the results, and avoid any fuzzy words, such as better usability, advanced technology, or more productivity. Put operational systems and metrics in place early.

Marketing 116

Marketing Resource Training Startup 116

Startup Professionals Musings

JULY 26, 2021

Intuitively, many entrepreneurs and businesses believe that the key to faster growth and success is more products, features, and markets. It’s a tough world even for big-company generalists, who take on the complexities of product diversification. Well-articulated goals and metrics. Just ask J.C.

Startup 154

Startup Resource Entrepreneur Metrics 154

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. They rarely highlight their marketing and relationship skills , even though, in my experience, these are more often the key to success in business than product skills.

Startup 113

Startup Customer Custom Technical Review 113

Both Sides of the Table

MAY 27, 2016

I spend hours thinking about the products, competitors, market opportunities, recruiting and financing of these businesses. I am much more attracted to technical product teams than to new business concepts or commerce types. I know there will be victories, set-backs and even some fights. I feel personally committed and engaged.

Invest 254

Invest Writing Pricing Metrics 254

Startup Professionals Musings

JUNE 18, 2023

If you can’t identify customer interest, it doesn’t matter how good your product is. 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.

Startup 112

Startup Coach Metrics Marketing 112

Startup Professionals Musings

SEPTEMBER 22, 2022

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

Marketing Customer Custom Outsource Development 133

Both Sides of the Table

NOVEMBER 2, 2010

Some objections are real and they end up becoming changes to your product, your service plan or your pricing / bundling. As a founder, when you’ve been dealing with these kinds of objections for a couple of years it becomes natural and you easily handle objections on price, product & competition without much thought.

Sales 289

Sales Startup Training Pricing 289

Startup Professionals Musings

FEBRUARY 8, 2020

Plan to deliver a family of products, rather than a one-trick pony. Even a great initial product, with no follow-on, won’t keep you ahead of competitors very long. A smarter risk is to build a plan, with associated greater resources, that will put you in position to expand your product line and keep one step ahead of competitors.

Entrepreneur 129

Entrepreneur Resource Metrics Customer 129

Startup Professionals Musings

JANUARY 8, 2021

It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. It’s a core process that must be up and effective when you deliver your first product or service. Make your service deliver process “happy.”

Startup 154

Startup Training Customer Custom 154

Both Sides of the Table

NOVEMBER 14, 2017

An alternate outcome that I also unfortunately observe in some cases are companies who had extreme early success with an initial product adoption but failed in key areas that limited the growth and therefore the ultimate financial outcomes. How profitable is my product or service? As an early-stage VC I love this phase.

Startup 286

Startup Technical Review Customer Custom 286

Startup Professionals Musings

SEPTEMBER 20, 2019

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

Entrepreneur 93

Entrepreneur eBook Metrics Examples 93

Startup Professionals Musings

MAY 26, 2021

Based on my experience with startups, trust is the most valuable asset you can have, especially when asking people to step into the unknown by funding your innovation, by joining your team, or just buying your new product as an early customer. For internal measurements, the metrics should always be written and clear.

Company 165

Company Companies Metrics Entrepreneur 165

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

SoCal CTO

DECEMBER 19, 2012

I was talking with an early-stage founder who has a product vision and wants to get it built. He wanted to get input from me on what he's doing, and he wants to begin to ask developers what it would take to build his product. Me : Product definition, use cases, feature list, wireframes, comps, really whatever you have.

Develop 354

Develop Development Technical Review CTO Coach 354