Berkonomics

OCTOBER 8, 2020

It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you’ve researched, or selected, or even just guessed at to create your plan. No-one challenged this number, and it became an unattributed source of the metric for market size for years. Or cost estimation.

Company 156

Company Companies Metrics Resource 156

Startup Professionals Musings

OCTOBER 31, 2022

If you are a genius at invention, for example, then that is the role you should seek to keep you motivated and productive. I like his model and examples from the field to help you identify the type of work that is your forte, and will likely bring you joy and energy, rather than frustration and burnout.

Activity 108

Activity Satisfaction Metrics Startup 108

Startup Professionals Musings

NOVEMBER 29, 2021

The most competitive startups do both, all the time and every time. In today’s competitive world, with its accelerating rate of change, no competitive advantage lasts long. The only sustainable competitive advantage is creativity. Creativity is the ultimate competitive advantage. Maximize diversity.

Competition 135

Competition Netflix Ideas Metrics 135

Startup Professionals Musings

JANUARY 9, 2022

They randomly churn for hours a day on a couple of their favorite social media platforms, with little thought given to goals, objectives, or metrics; and ultimately give up and fall back to traditional marketing approaches. Create an action plan with metrics. See some recent examples in the 10 of the Top Social Media Campaigns of 2021.

Social Media 135

Social Media Framework Media Metrics 135

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

Startup Professionals Musings

JULY 26, 2023

For example, we all remember when Blockbuster realized too late that Netflix was stealing customers by offering videos online rather than via DVDs, but even then they were unable to adapt their processes and their thinking. I see this happening in smaller ways often, where there is minimal focus on competition.

Metrics 71

Metrics Training Netflix Resource 71

Berkonomics

DECEMBER 5, 2013

It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you’ve researched, or selected, or even just guessed at to create your plan. No-one challenged this number, and it became an unattributed source of the metric for market size for years. Or cost estimation.

Metrics 239

Metrics Startup Marketing Demand 239

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. Highlight the competitive edge you bring to the market. Put operational systems and metrics in place early. Align your mission with a higher purpose in the economy.

Marketing 116

Marketing Resource Training Startup 116

Startup Professionals Musings

NOVEMBER 30, 2022

For example, even though Mark Zuckerberg built Facebook as an innovative product, most experts believe it was successful due to his relationship with Peter Thiel and other top VCs that he convinced to invest early. Using metrics to measure results and commitments. Marketing your personal brand and your vision.

Startup 113

Startup Customer Custom Technical Review 113

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

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. Create a written plan, with target milestones and metrics.

Ideas 126

Ideas Writing Examples Outsource 126

Startup Professionals Musings

JANUARY 6, 2021

It’s important to define your growth strategy, document it, communicate it to your team, and align metrics and employee rewards to target goals. 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.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

Startup Professionals Musings

SEPTEMBER 22, 2021

For example, Blake Mycoskie of TOMS Shoes attributes his ability to raise a seed round and build a $400M company to his commitment to provide a free pair of shoes to the underprivileged for every pair sold. You need to show you have a “Plan B,” and a never-give-up mindset, in handling any competitive threat or customer reaction.

Ideas 140

Ideas Entrepreneur Equity Resource 140

Startup Professionals Musings

DECEMBER 22, 2021

A winning linked focus example is to choose a higher purpose common to all cultures, such as protecting the environment, or helping the underprivileged. At every Ritz-Carlton , for example, employees are authorized to spend up to $2,000 per guest to solve any guest issue and make the stay positively memorable.

Customer 114

Customer Custom Satisfaction Metrics 114

Startup Professionals Musings

MARCH 3, 2021

For example, it’s great to pursue a higher purpose, like feeding the hungry, but don’t forget that running any business is a hungry mouth you have to feed. For example, if you have ever watched the Shark Tank show on TV, they always ask about the cost of customer acquisition. Postulate competitive reactions and your responses.

Entrepreneur 162

Entrepreneur Social Media Examples Metrics 162

Startup Professionals Musings

APRIL 27, 2022

How does any entrepreneur define the right balance, and then measure their performance against real metrics? Current examples include Conscious Capitalism® , popularized by John Mackey, The B Team , founded by Sir Richard Branson, the 1% for the Planet organization, and the Benefit Corporation (B Corp) now available in 35 States.

Startup 110

Startup Entrepreneur Capital Examples 110

Both Sides of the Table

FEBRUARY 27, 2019

Often board members themselves don’t do the work to say “what metrics would we like to see.” Any great board member should tell you, “please don’t create any performance metrics or materials that analyze the business that you’re not already creating for your own management’s use.” Sometimes they don’t even know.

Startup 226

Startup Slides Metrics News 226

Both Sides of the Table

NOVEMBER 2, 2010

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. Some examples of common objections across many companies: 1. It is tacit knowledge. You can have best of both worlds.

Sales 289

Sales Startup Training Pricing 289

Startup Professionals Musings

JANUARY 1, 2021

For example, in a conflict over the right branding logo , it may help to understand who and how the ultimate decision will be made, including key elements driving the decision, such as targeted customers and competition. Make sure the process is respectful of their needs as well as yours. Always postulate or support a win-win solution.

Activity 145

Activity Organization Examples Satisfaction 145

Both Sides of the Table

JULY 21, 2014

I remember, for example, when business intelligence swept through companies globally. Create company measures for success that go beyond financial metrics. You manage what you measure so be careful about having too narrowly defined of performance metrics. Surely there must be some benefit here?? Sales Startup Lessons'

Marketing 354

Marketing Case Study Metrics Sales 354

Startup Professionals Musings

APRIL 3, 2019

They randomly churn for hours a day on a couple of their favorite social media platforms, with little thought given to goals, objectives, or metrics; and ultimately give up and fall back to traditional marketing approaches. Create an action plan with metrics. See some recent examples in the The 10 Best Social Media Campaigns of 2018.

Social Media 96

Social Media Media Marketing Metrics 96

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

JULY 26, 2021

Good examples of startup focus before success include Google with their search engine, Facebook with friends networking, and Apple with personal computers. Well-articulated goals and metrics. Maintain an intimate knowledge of the competition. Every advisor and investor will tell you to keep your focus or spotlight.

Startup 154

Startup Resource Entrepreneur Metrics 154

Startup Professionals Musings

FEBRUARY 17, 2019

The most competitive startups do both, all the time and every time. In today’s competitive world, with its accelerating rate of change, no competitive advantage lasts long. The only sustainable competitive advantage is creativity. Creativity is the ultimate competitive advantage. Maximize diversity.

Company 90

Company Companies Competition Netflix 90

Startup Professionals Musings

SEPTEMBER 30, 2023

For example , when Yvon Chouinard founded Patagonia , a successful outdoor products company, his real goal was building safe products to help the environment. You may be comfortable driving your future based on vision and emotion, or have long been a stickler for details and metrics. Devise a strategy for your long-term role or exit.

Startup 94

Startup Ideas Metrics Entrepreneur 94

Startup Professionals Musings

AUGUST 27, 2023

Measure progress through metrics on sales, revenue, and penetration. For example, Toms shoes achieved success by donating a pair of shoes for every pair sold. Look for more ways to demonstrate a competitive advantage, and partner with complementary organizations if you need strength in manufacturing, distribution, or customer support.

Customer 91

Customer Custom Marketing Startup 91

Startup Professionals Musings

FEBRUARY 5, 2020

See the story of Elizabeth Holmes and Theranos for an example of product snags leading to a disaster. Your customers and competition make unexpected moves. Examples abound of startups who had to pivot for success, including Twitter moving from podcasts to social commentating, and Yelp moving from email to online.

Startup 131

Startup Entrepreneur Examples Customer 131

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. A strong vision and deep insight may get your business off the ground, but long-term success requires constant data analysis, metrics, and attention to your customer feedback.

Mentor 133

Mentor Startup Customer Custom 133

Berkonomics

APRIL 8, 2021

Discord is a great example of a company going viral mostly from word of mouth. Well-tuned metrics are an absolute must. And, like the story of Discord and Twitter, it takes continual product and feature updates to stay ahead of the competition or overtake a sleepy competitor. A story of an app from nowhere to near dominance.

Sites 156

Sites Product Social Network Press 156

Startup Professionals Musings

AUGUST 13, 2022

For example, if you are working on a great social networking idea to replace Facebook, and need funding, you probably won’t find any interested and focused VCs or angel investors in Arizona, where I live. Exposure instills the fear and urgency you need to deliver the right competitive solution. Exposure is another key ingredient.

Technical Review 123

Technical Review Oracle Software Review Ideas 123

Startup Professionals Musings

MARCH 4, 2019

As an example, most of the people I know who have switched to shopping online don’t even mention the product, but are ecstatic about quickly finding exactly what they need on Amazon , with one-click ordering and overnight delivery, without ever leaving the comfort of their home. Marty Zwilling First published on Inc.com on 02/19/2019.

Customer 85

Customer Custom Product Metrics 85

Startup Professionals Musings

JUNE 28, 2019

These things are clearly good for morale, but its not so clear that they translate into a competitive advantage. These authors present 20+ years of research, including case studies and metrics, showing how culture really makes or breaks your business. Measuring and tuning culture is an iterative process, integrating business results.

Competition 76

Competition Coach Case Study Statistics 76

Startup Professionals Musings

AUGUST 27, 2018

For example, I’m even getting worried about Apple not showing the kind of innovative leaps that Steve Jobs was famous for. IBM, for example, regularly buys about a dozen companies a year to supercharge their own innovation efforts. Set metrics and rewards specifically for innovation. People work on what they get measured on.

Metrics 58

Metrics IBM IBM Competition 58

Startup Professionals Musings

SEPTEMBER 30, 2018

For example, most e-commerce platforms today offer millions of products, with a changing mix daily and a changing market, such that it’s virtually impossible to manually predict a strategy for mapping customer demographics to products displayed online. No human or paper tracking systems are a competitive alternative.

Artificial Inteligence 84

Artificial Inteligence Metrics Commerce Software 84

Tech.Co

FEBRUARY 18, 2021

The Dashboard offers a bird's-eye view of projects, letting you see key metrics such as due dates, assigned cards, and cards-per-list so bottlenecks can be prevented before they begin. Find out how Trello stacks up to the competition in our Best Project Management Software guide. New sidebar.

Software Review 139

Software Review Guide Technical Review Class 139

Startup Professionals Musings

JULY 17, 2019

For example, Apple has been a master at this, developing products like the iPod and iPhone before customers even knew they needed them, creating Apple stores with a whole new shopping and support experience, and intuitive usage needing no manuals. Highlight your competitive value, not your technology.

Technical Review 87

Technical Review Customer Custom Competition 87

Startup Professionals Musings

JULY 28, 2019

How does any entrepreneur define the right balance, and then measure their performance against real metrics? Current examples include Conscious Capitalism® , popularized by John Mackey, The B Team , founded by Sir Richard Branson, the 1% for the Planet organization, and the Benefit Corporation (B Corp) now available in 35 States.

Startup 93

Startup Entrepreneur Capital Examples 93