Startup Professionals Musings

DECEMBER 10, 2022

In my own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Thus if you want to change the world with your new business, you need to follow the example of startups like Zappos , which hires according to cultural fit first.

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Examples Mentor Activity Product 145

Both Sides of the Table

JANUARY 16, 2014

He’s an incredibly smart investor and somebody that I actually consider to be a mentor to myself. Competition is fierce. I always ask when somebody sends me a deal, for example, are you already a shareholder in the company? I reviewed a deal for a friend of mine tonight. ” That’s precisely it.

Venture Capital 333

Venture Capital Startup Technical Review Email 333

Startup Professionals Musings

JULY 19, 2010

Due in large part to the current economy and an ultra-competitive job market, a Gen-Y entrepreneurial tsunami is already upon us. For a startup or small business executive serving as mentor, the proverbial “win-win” is created as they benefit from an injection of essential bandwidth, youthful energy, and technical expertise.

Competition 96

Competition Startup Technical Review IBM 96

Startup Professionals Musings

OCTOBER 31, 2018

The only “sustainable competitive advantage” in business is self-awareness. Most successful business leaders, including Richard Branson and Bill Gates, regularly called on their mentors, Freddie Laker and Warren Buffett, to test their perception of the right questions to ask, and the right issues to tackle. It’s a recipe for disaster.

Competition 81

Competition Startup Examples Coach 81

Startup Professionals Musings

SEPTEMBER 23, 2020

Take advantage of free startup programs and mentors. They provide peer group organizations, usually called incubators, with free resources, practice environments, and outside mentoring that can help you learn and pivot with minimal cost. Write a business plan and pitch deck for learning.

Entrepreneur 157

Entrepreneur Mentor Class Resource 157

Startup Professionals Musings

MARCH 11, 2020

In my own experience as a startup advisor and mentor, I find that entrepreneurs who can’t attract and maintain a highly motivated team rarely even get off the ground. Thus if you want to change the world with your new business, you need to follow the example of startups like Zappos , which hires according to cultural fit first.

Product 129

Product Examples Mentor Activity 129

InfoChachkie

OCTOBER 20, 2014

The TMP is an example of lean academia. Apeel Sciences - Founded in 2012, after winning $10,000 at UCSB’s New Venture Competition, the company closed $1.25M in funding during 2013. Salty Girl Seafood - Another focus of the TMP is the recruitment and mentoring of women entrepreneurs. Organic Academia.

Santa Barbara 258

Santa Barbara Technical Review Startup Venture Capital 258

Startup Professionals Musings

JANUARY 2, 2021

For example, a couple of years ago, Starbucks' chief executive officer, Kevin R. I often think of the scope of this example in my role as mentor to a struggling entrepreneur who is quick to blame his problems on employee mistakes, or even changing customer expectations. Don’t wait for a crisis to test accountability.

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Training Examples Startup Social Media 173

Startup Professionals Musings

JANUARY 6, 2021

For example, Mark McClain, cofounder and CEO of SailPoint Technologies , created an employee growth culture resulting in growth of forty percent a year, with more than $100 million in revenues. Utilize outside expertise and mentoring. Track competition to stay ahead of copycats. Track competition to stay ahead of copycats.

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Technical Review Technical Advisors Startup Mentor 160

Startup Professionals Musings

JULY 27, 2022

I call this linear thinking , and it’s a sure way to be ultimately overrun by your competition. For example, BlackBerry was really the first in the smart mobile phone market, but they never thought beyond their tiny physical keyboard as they added new features. Always practice thinking outside the box.

Competition 139

Competition Examples Custom Customer 139

Startup Professionals Musings

APRIL 9, 2021

In these days of rapid change, the pandemic, and worldwide competition, you need to make sure your entire team is customer-focused, innovative, and always looking around the corner for the next big thing. Find folks who are customer-centric and sensitive to competition.

Coach 174

Coach Activity Customer Custom 174

Startup Professionals Musings

DECEMBER 6, 2020

Based on my experience and a business advisor and mentor, this is the ideal time to get back to the basics of business leadership and innovation. For example, I’ve always been impressed with how improvisational comedy never loses its positive impact, no matter how controversial the subject matter.

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Mentor Ideas Competition Examples 122

Startup Professionals Musings

MAY 30, 2020

Access to entrepreneurs-in-residence, business mentors. Most schools have a rich pipeline of real-world executive volunteers available for mentoring. These also get used for guest lectures in business classes, judges for business plan competition, and introductions to accredited investors.

Class 124

Class Startup Resource Mentor 124

Startup Professionals Musings

OCTOBER 1, 2022

As a mentor to many business professionals and owners, and aspiring entrepreneurs, I find a wealth of innovative ideas, but often less insight on what it really takes to transform ideas into an income stream that can excite new customers into long-term business success. It takes a wealth of hungry buyers to sustain a great business idea.

Ideas 145

Ideas Startup Case Study Writing 145

Startup Professionals Musings

AUGUST 23, 2021

Thus, in my role as mentor to young entrepreneurs, I always recommend that you first take a hard look at your own values and priorities, before jumping into any new startup, as the founder, or even as a side hustle. For example, TOMS shoes agreed to donate a pair of shoes to the needy for every pair sold.

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Startup Satisfaction Entrepreneur Equity 159

Startup Professionals Musings

MARCH 2, 2020

For example, I have a friend with a Ph.D. Then, he'll need to patent it and create a plan to show opportunity, competition, and financial projections. For example, I often cite the case of Bill Gates and Steve Ballmer , who grew Microsoft together. I have tried to convince him the general idea alone does not make a business.

Ideas 126

Ideas Writing Examples Outsource 126

Startup Professionals Musings

AUGUST 10, 2022

For example, I’m an introverted product guy who doesn’t care so much about building the personnel relationships needed to keep a motivated team. The competition will improve, the market will change, and your customers will demand more. If you do it right, you have a huge opportunity for long-term success.

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Mentor Startup Customer Custom 133

Startup Professionals Musings

APRIL 9, 2023

Facilitate coaching and mentoring, inside and outside. Every team member needs stimulation to broaden their horizons, correct weaknesses, and understand competitive strategies. Highlight career advancement opportunities and examples. The result is high engagement, and reduced loss of talent to competition.

Coach 117

Coach Mentor Study Activity 117

Startup Professionals Musings

FEBRUARY 24, 2020

Many entrepreneurs I have mentored make big mistakes in this area, by hiring low-cost friends and family, with minimal skills or training, and expecting them to have the same work ethic , passion, and business knowledge as the founder. In addition, you can reduce to soft costs of mentoring, relationship building, and socializing.

Outsource 123

Outsource Startup Technical Review Training 123

Startup Professionals Musings

FEBRUARY 27, 2023

Access to entrepreneurs-in-residence, business mentors. Most schools have a rich pipeline of real-world executive volunteers available for mentoring. These also get used for guest lectures in business classes, judges for business plan competition, and introductions to accredited investors.

Entrepreneur 110

Entrepreneur Class Startup Resource 110

Startup Professionals Musings

NOVEMBER 14, 2020

They need incentives to investigate market trends and competitive actions, as well as continuous communication of the bigger picture of the business and current objectives. The best executives make it clear by example that all team members who help the business expand will be compensated, by awards, special bonuses, or career advancement.

Marketing 130

Marketing Develop Development Startup 130

Startup Professionals Musings

SEPTEMBER 11, 2020

But there are notable examples of for-profit incubators that are thriving, including YCombinator , led by Paul Graham in Silicon Valley, and TechStars , led by David Cohen and located in several key cities around the country, that have an excellent reputation and track record. Mentoring and technical assistance from volunteer or paid experts.

Resource 159

Resource Startup Incubator Seed Funding 159

Startup Professionals Musings

JUNE 25, 2021

As a business mentor, I sometimes feel besieged by people begging for my view and support of their latest idea. There are lots of resources available for that question, including the Internet and mentors like me. Find out if something very similar is already selling, and who your competition would be if you proceed.

Ideas 136

Ideas Entrepreneur Mentor Resource 136

Startup Professionals Musings

NOVEMBER 7, 2020

We all face pressure in our lives, but there’s nothing like that of an entrepreneur facing customer crises and the competitive challenges of a new business. Thus, here is my own reframing of the authors generalized rules into some specifics for an entrepreneur or business leader: Reframe competitive threats to opportunities.

Startup 134

Startup Entrepreneur Competition Press 134

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. Enlist a mentor and advisor who is not a ‘yes’ person. Do in-depth research on relevant startups and leaders.

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Satisfaction Entrepreneur Startup Mentor 135

Startup Professionals Musings

DECEMBER 4, 2020

In my opinion, great examples in today’s entrepreneur world include Elon Musk (Tesla), Jeff Bezos (Amazon), and Richard Branson (Virgin Group). Measure by relationships as well as competitiveness. They mentor protégés on talent spotting, creativity, and motivation as well as strategy. Take chances on unconventional talent.

Oracle 124

Oracle Organization Examples Coach 124

Startup Professionals Musings

SEPTEMBER 19, 2018

For example, we all know people who really believe that everyone in the world is their supporter, when in fact many are actively working against them. In my role as a mentor to business professionals and entrepreneurs over the years, I have found that it’s important to take a hard look at the relationships around you on a regular basis.

Tips 95

Tips Mentor Coach Activity 95

Startup Professionals Musings

JANUARY 25, 2019

Yet in today’s competitive and rapidly changing world, top notch sales and marketing skills are critical to the success of every business. For example, if they show a passion for fitness and life balance, highlight how your solution shortens the time and pain of solving their business problems.

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Mentor Startup Sales Examples 90

Startup Professionals Musings

DECEMBER 15, 2021

As a long-time business advisor and mentor to entrepreneurs, I’ve always been impressed with the few who seem to always come out ahead, no matter what the challenge. Your strengths are your real competitive advantages, so focus on them. It seems to be more a function of mindset and principles, more than education or natural ability.

Education 148

Education Mentor Custom Customer 148

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. The smart ones were already working on new features, and able to counter competition quickly.

Marketing 133

Marketing Customer Custom Outsource Development 133

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. Your customers and competition make unexpected moves.

Startup 131

Startup Entrepreneur Examples Custom 131

Startup Professionals Musings

SEPTEMBER 4, 2019

Based on my recent experience as an angel investor, and advisor to new business owners, I now recommend that all entrepreneurs, especially introverts, learn and practice the discipline they need to build and nurture relationships with key constituents through the following activities: Formalize a mentoring relationship with someone you trust.

Entrepreneur 104

Entrepreneur Mentor Activity Startup 104

socalTECH

OCTOBER 14, 2010

It's trying to determine if there is a viable way to go to market, and also deal with competitive issues. An example might help: We were recently presented with a project, and two of our members jumped at a chance to look at it, thinking they could become CEO. Where is this talent coming from?

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Networking Research Startup USC 215

Startup Professionals Musings

SEPTEMBER 9, 2013

In his book, “ Out-Executing the Competition ,” seasoned executive Irv Rothman provides tips to corporate executives on how to dig in and “get their fingernails dirty.” You need to show the team every day how your vision relates to their everyday tasks, with real examples that you can demonstrate. Check your ego at the door.

Startup 103

Startup Entrepreneur Template Mentor 103

Startup Professionals Musings

JANUARY 21, 2013

We can all point to examples of successful entrepreneurs who dropped out of college, but still went on to make a big impact. Most universities also bring in outside advisors to mentor budding entrepreneurs. Most schools have business plan competitions, and even give out seed money to winners. Build a business plan early on.

Entrepreneur 105

Entrepreneur Startup Course Education 105

Startup Professionals Musings

DECEMBER 6, 2011

We can all point to examples of successful entrepreneurs who dropped out of college, but still went on to make a big impact. Most universities also bring in outside advisors to mentor budding entrepreneurs. Most schools have business plan competitions, and even give out seed money to winners. Build a business plan early on.

Entrepreneur 105

Entrepreneur Startup Course Education 105

socalTECH

JULY 13, 2009

Mark has also been quite active mentoring entrepreneurs, We caught up with Mark to hear about what kinds of investments GRP is looking at nowadays, his view on the software-as-a-service market, and how best to approach him with a pitch. We've heard quite a bit about your mentoring efforts here, can you talk about that?

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GRP Partners Southern California Santa Barbara Rustic Canyon 157