Berkonomics

MARCH 10, 2022

Customer empowerment is moving so fast nowadays that many of us are running to just catch up. But don’t close your eyes to the fact that your customers have grown to expect your products or services in the form of…. Entering the age of mass customization. The post Customer empowerment? Blame the Internet.

Customer 156

Customer Custom Demand Blogging 156

Startup Professionals Musings

SEPTEMBER 18, 2022

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.

Competition 133

Competition Patents Resource Invest 133

Startup Professionals Musings

AUGUST 14, 2021

With the advent of the Internet, social media, and instant communication via texting, customer expectations for service, as part of their entire customer experience, have changed. They expect you to be there, to know their history as a customer, and to treat them with priority and respect.

Customer 171

Customer Custom Social Media Design 171

Startup Professionals Musings

OCTOBER 24, 2020

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. Every existing business, as well as every startup, needs to reassess their product or service in the context of these five forces: Intensity of competitive rivalry. Bargaining power of customers.

Competition 151

Competition Startup Framework Pricing 151

Startup Professionals Musings

DECEMBER 23, 2020

Today’s customers demand more than a good product; they expect a great customer experience. A few companies are leading the way, including Apple with their iPad and iPhone, offering irresistible stores with friendly experts, elegant packaging, and customer service that never ends.

Customer 150

Customer Custom Design Product 150

Berkonomics

SEPTEMBER 21, 2023

Your customers know what they want more than you do. This week’s insight came from personal experience and from a good friend who advanced the notion of the “teacher-customer” years ago. The customer would be the first to receive the new functionality in a new release. Providing feedback to your teacher customer.

Customer 156

Customer Custom Design Conference 156

Startup Professionals Musings

JUNE 2, 2021

In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global. As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today.

Competition 142

Competition Software Review Social Media Customer 142

Both Sides of the Table

NOVEMBER 16, 2014

But if you level up , raise capital and grow customers, revenue and staff – life changes. Eventually you need a VP of Product to handle your product roadmap, a CTO for engineering leadership and VPs of sales, marketing & biz dev. Extremely talented people are ultra competitive. As CEO, do you step in?

Entrepreneur 385

Entrepreneur CTO Hire Startup Sales 385

Startup Professionals Musings

SEPTEMBER 19, 2022

Every entrepreneur believes that their product or service is memorable, and that every customer will quickly see the advantage over competitors. Yet true product differentiation in the eye of the customer is rarely achieved. Quantify the difference for your customers.

Competition 123

Competition Customer Custom Examples 123

Both Sides of the Table

APRIL 3, 2014

Most technology startups seem to be funded by product people or business people. Whenever I heard why we didn’t feel a sales process at an important customer was going well (or if we lost) I would get involved myself. They are as good at selling you as they are at selling your product to customers.

Sales 382

Sales Help Startup Pricing 382

Startup Professionals Musings

MARCH 17, 2023

Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements to their own team, to investors, and even to customers. As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition.

Competition 111

Competition Entrepreneur Patents Customer 111

Startup Professionals Musings

APRIL 4, 2021

The real solution is better productivity and less procrastination, to put you back in control of your business. Jan Yager, a recognized expert on the subject of time management, addressed this issue in the classic edition of her book, “ Work Less, Do More: The 14-Day Productivity Makeover.” Rest makes you more productive.

Product 153

Product Email Customer Custom 153

Startup Professionals Musings

JUNE 26, 2020

For the rest of us, we need a business plan, as well as a product plan. Some of you may be convinced that your product specification communicates the product message even better than a business plan, so why be redundant? Use non-fuzzy terms to quantify customer value. Provide specifics on the customer business model.

Product 169

Product Summary Startup Examples 169

Startup Professionals Musings

JANUARY 30, 2021

Most technical entrepreneurs focus hard on building an innovative product, but forget that an elegant solution doesn’t automatically translate into a successful business. Businesses require an equally elegant business model, with the right price, messaging and delivery channel to the right target customers to keep the dream alive and growing.

Product 159

Product Technical Review Pricing Software Review 159

Startup Professionals Musings

JUNE 23, 2021

Yet, as a business consultant, I often find minimal focus on improving employee engagement and assessing their customer-facing performance. 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.

Customer 147

Customer Custom Technical Review Metrics 147

Berkonomics

JANUARY 12, 2023

Management undertakes a simple exercise of calculating the increased profitability of shutting down all R&D, sales and subordinate operations, and universally notes with shock the high net profit that results – from shutting down all operations except customer service to recurring customers (as in software support operations.).

Sales 296

Sales Custom Customer SaaS 296

Startup Professionals Musings

MAY 27, 2022

In my experience as a business advisor, most organizations, large and small, struggle to keep up with the pace of change and competitive forces today. A question I often get is how to transform that overall team into a smooth-running machine that will keep up with the pace of market change, and competition in today’s world.

Competition 136

Competition Resource Startup Organization 136

Startup Professionals Musings

MAY 26, 2023

Every one of you business owners I know periodically introduces new products and services to sustain growth, fight off competitors, or take advantage of new technologies. Customers won’t buy what they can’t find or don’t understand. Customers need supporting approvals to fully benefit.

Product 141

Product Services Technical Review Artificial Inteligence 141

Both Sides of the Table

SEPTEMBER 15, 2013

Of course it’s a competitive market so MCNs competing for top talent not only compete on rev share to talent but also to services that they provide talent. Building direct customer relationships with viewers (who want to tune into your channels). Selling at smaller retailers will net you fewer customers and higher margins.

Networking 366

Networking Media Content Customer 366

Both Sides of the Table

APRIL 25, 2013

Competitive sportswoman. She learns how to ship product, how to deal with merchants, how to hire product managers. Always meeting her product ship dates. She was always able to get into the weeds on product or biz dev discussions. She speaks about ethical sourcing of eco-friendly products. Stanford MBA.

Startup 398

Startup Design Downey Activity 398

Startup Professionals Musings

JANUARY 18, 2023

Customer service has traditionally been focused on the resolution of complaints , primarily after a transaction. In this context, even “satisfied” is only a “meets-minimum,” and does not put you ahead of your competition. Treat every customer exceptionally before they complain. Even the best marketing doesn’t do it.

Competition 109

Competition Services Customer Custom 109

Berkonomics

JULY 19, 2018

Dell is a great example of emphasis upon fast, creating a customized computer in 48 hours or less, bringing in assemblies and components just-in-time to make the assembly line. Dell’s response would be something like “Quality custom computers more quickly than the competition.” How will your customers react to your positioning?

Competition 226

Competition Examples Customer Custom 226

Berkonomics

JULY 6, 2017

Know your market and competition, or don’t spend a dime on anything else. In this case, the competition was not from a company but a new technology. In most cases, it is the competitor with a better product, lower price, faster service, better reputation that is the threat. There is no competition.”

Competition 266

Competition Research Summary Pricing 266

TechCrunch LA

FEBRUARY 3, 2021

Good Eggs says that in the past year, revenue has grown to the nine figures (more than $100 million), hired more than 400 employees and nearly doubled its customer base. ” In addition to geographic expansion, Hall said the money will allow Good Eggs to continue adding new products and to find ways to improve the e-commerce experience.

Southern California 318

Southern California Orange County San Diego Commerce 318

Both Sides of the Table

APRIL 2, 2014

There’s a healthy balance between allowing a design team to dream up functional requirements, talk with customers, analyze competitors and for technical projects – research the latest cool-kid tools to play with. If you pull hard at the time end of the spectrum you end up shipping inferior product.

Software 344

Software Startup Design Course 344

Startup Professionals Musings

OCTOBER 9, 2020

Today you need that budget for market fluxuations, pandemics, and product updates. Thus they feel more fulfilled, more productive, and more in control of their lives. These days, employees are living farther and farther from your office, and their driving takes away from productive time, as well as contributing to toxic emissions.

Competition 168

Competition Startup Demand Training 168

Startup Professionals Musings

OCTOBER 30, 2022

Today’s customers are much more in control of their buying decision, as they have more choices and more information than ever before. Bloom’s classic book, “ The New Experts: Win Today's Newly Empowered Customers.” This is a key moment where your customer acquisition costs go way down, and your profits go way up.

Customer 146

Customer Custom Startup Course 146

Startup Professionals Musings

AUGUST 10, 2020

Even if your company doesn’t sell high-tech products, like Zappos sells shoes, having and using the right technology in the business, for distribution, marketing, and customer support, can easily make the difference between winning and losing in today’s high-tech world.

Competition 174

Competition High Tech Startup Social Media 174

Berkonomics

DECEMBER 19, 2024

An entrepreneur pitches using a deck with no slide for competition. We have no competition. Your potential customers could choose do nothing. Email readers, continue here…] Doing nothing is the main competitor for most products and services, whether a compelling new idea or a seasoned product long proven to be effective.

Competition 156

Competition Slides Sales Research 156

TechCrunch LA

APRIL 9, 2020

The coronavirus pandemic has forced Energica to hit the brakes on production of its battery powered machines that can reach top speeds of 168 mph. The venture is also one of the few e-motorcycle companies drawing engineering tips from competition. Technology from the track is transferring to production models, according to Cevolini.

Technical Review 277

Technical Review Competition Demand Sales 277

Startup Professionals Musings

SEPTEMBER 22, 2023

Most leaders agree that poor customer service is a business killer today, in terms of lost customers, reduced profits, and low morale. Yet the average perception of customer experience has not improved. You have to start with hiring only people who are willing and able to make serious customer service happen.

Competition 99

Competition Services Startup Training 99

Startup Professionals Musings

NOVEMBER 20, 2022

As a startup advisor, I see too many entrepreneurs get distracted by technology or their favorite cause, and then wonder why they can’t find an investor, attract customers, or build a long-term business. These principles include the following: Free and ultra-low cost may no longer be competitive.

Customer 103

Customer Custom Competition Netflix 103

Both Sides of the Table

MAY 1, 2014

The second is that the retailers were constrained by their high costs of local real estate and service staff relative to the costs of centralized warehouses where goods could be stacked high, sorted by robots, managed by RFIDs and then shipped via overnight to eager, cost-conscious customers across the US. 10x the experience.

Technical Review 380

Technical Review Software Review CTO Hire Startup 380

Startup Professionals Musings

SEPTEMBER 1, 2023

Having the best solution is a good start these days, but a solution alone is no longer enough to keep customer attention and loyalty. The most memorable businesses, like Starbucks and Apple, no longer sell products, they sell ‘experiences’ with a product at the center. Tie customer experience to all compensation and recognition.

Customer 106

Customer Custom Startup Competition 106

Both Sides of the Table

JANUARY 12, 2014

If you’re a technology startup you need to excel at product, of course. The starting point of product IS marketing, which is what a lot of young entrepreneurs that never studied business don’t realize. But being best-in-class at online marketing is also a sine qua non to standout from your peer group.

Marketing 379

Marketing Startup SEM SEO 379

TechCrunch LA

SEPTEMBER 30, 2019

The company used its overdraft protection service and money management display to shift customers’ focus away from the total balance that their account would show by giving them a sense of how much was actually left in their accounts once debits were included in their statements.

Company 262

Company Companies Startup Tips 262

Startup Professionals Musings

SEPTEMBER 9, 2023

Today’s customers demand more than a good product; they expect a great customer experience. A few companies are leading the way, including Apple with their iPad and iPhone, offering irresistible stores with friendly experts, elegant packaging, and customer service that never ends.

Design 105

Design Customer Custom Product 105