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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. It is tacit knowledge. Some examples of common objections across many companies: 1.
From experience and from information about the competition, a coach creates a playbook that contains detailed plans for actions or plays that the entire team must know without question and execute without pause in order to win games and advance toward the playoffs. Trained employees execute their tasks better than those who are not.
He lived the philosophy that companies must be paranoid in order to survive, and continually disrupt their own markets to prevent overrun by competition. That means making sure you are utilizing coaching and mentoring, as well as training to keep up with changes in technology and the marketplace.
Did they do a major training program? 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. Run board meetings that force strategic discussions rather than cheering sessions focused on financial metrics.
Train them fully, give them authority, make them accountable, and tie their pay to customer satisfaction. It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. Train and coach continuously. Know your customers intimately.
From experience and from information about the competition, a coach creates a playbook that contains detailed plans for actions or plays that the entire team must know without question and execute without pause in order to win games and advance toward the playoffs. Trained employees execute their tasks better than those who are not.
There was no money train. And then in the late 90’s money crept in, swept in to town by public markets, instant wealth and an absurd sky-rocketing of valuations based on no reasonable metrics. It was a way to make it hard for your competition to compete. It was 1991. There were startups and a software industry but barely.
Use data analysis and metrics to measure for results. Through analytics on current employees, you will be able to predict re-training requirements and minimize employee turnover. Efficiency in the workplace is the time it takes to do something, but it can ignore work quality and customer impact.
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. Provide training, tools, and required decision authority. Incentives should be a combination of metrics and recognition to highlight results.
Train them fully, give them authority, make them accountable, and tie their pay to customer satisfaction. It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. Train and coach continuously. Know your customers intimately.
I used an analogy I heard from Michael Dougherty (founder of Jelli) recounting what First Round Capital told him, “sometimes you’re on the local train and sometimes you’re on the express train. The express train might get you there faster but there are no options to get off along the way.
It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. Training and coaching. Ownership. Accountability.
It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. Training and coaching. Ownership. Accountability.
while acknowledging that San Fran deals are often higher valuations due to increased competition amongst investors. For me I think that investors have got to accept the new reality in pricing if they want to remain competitive in markets like we’re seeing now. It’s hard to stop a train. Here’s the problem.
Waste in a startup is any activity that burns resources, but creates no value or competitive advantage in the eyes of customers. Trying to do too many things with too few resources, usually means the startup will not shine at anything, and will not survive the competition. In the startup world, this is often seen as a lack of focus.
Show that you have a process to hire, fire, and train others as required. For progress and success assessment, each of these needs some metrics defined, a training plan, and responsibility assignments within your team. No mention usually means no plan and not competitive. Marketing, sales, support, and service operations.
It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Creating intellectual property, including patents, is the key to long-term value and a sustainable competitive advantage. Training and coaching. Ownership. Accountability.
Show that you have a process to hire, fire, and train others as required. For progress and success assessment, each of these needs some metrics defined, a training plan, and responsibility assignments within your team. No mention usually means no plan and not competitive. Marketing, sales, support, and service operations.
In all cases, don’t skip the basic training. 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. You know the basic ingredients, and you can visualize the results you want. validate your business model) Continuous improvement.
The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. Provide direct customer contact to everyone, as well as training.
Waste in a startup is any activity that absorbs resources, but creates no value or competitive advantage in the eyes of customers. Trying to do too many things with too few resources, usually means the startup will not shine at anything, and will not survive the competition. In the startup world, this is often seen as a lack of focus.
Such follow-up are akin to a train whistle. Each note alerts the investors that your venture is gaining momentum and creating value and they better jump aboard before the train leaves the station. The dynamic of a competitive atmosphere allowed him to sell his cars at their list price while increasing the velocity of the sales process.
Show that you have a process to hire, fire, and train others as required. For progress and success assessment, each of these needs some metrics defined, a training plan, and responsibility assignments within your team. No mention usually means no plan and not competitive. Marketing, sales, support, and service operations.
TechCrunch Europe ran an article in November of last year that European startups need to work as hard as those in Silicon Valley and I echoed the sentiment in my post about the need for entrepreneurs to be maniacal about their businesses if one wants to work in the hyper competitive tech world. Our first big institutional round was $16.5
The fitness professional network develops business tools that make it easier for fitness professionals to run their businesses and keep their clients engaged between training sessions. We knew there’s a better personal training experience to be had, so we set out to create one. We just found this hole in the fitness industry.
Waste in a startup is any activity that spends resources, but creates no value or competitive advantage in the eyes of customers. Trying to do too many things with too few resources, usually means the startup will not shine at anything, and will not survive the competition. In the startup world, this is often seen as a lack of focus.
Highlight the competitive edge you bring to the market. Put operational systems and metrics in place early. Proactively provide training and team member rotation. Keep up with new technology for internal processes, actively hire people with new skills, and provide industry training for exposure to new techniques and competition.
The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. Provide direct customer contact to everyone, as well as training.
Train them fully, give them authority, make them accountable, and tie their pay to customer satisfaction. It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. Train and coach continuously. Know your customers intimately.
In the case of MakeSpace we had huge initial successes in New York City as Rahul led the scaling of our drivers, our trucks and our warehouses and we figured out the right price points to beat the local competition. We have been able to build deep customer insights on product, pricing, service, geography, competition, etc.
Training and coaching. Once a new product is launched, a key metric is the ratio of new product sales to overall sales. Sustainable innovation is really the only sustainable competitive advantage. Yet survival in today’s world of rapid business change requires that you keep one step ahead of your competition.
Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. At this stage, you should start recruiting, hiring, paying, and training others to help you run your business. Here you will likely need to train others to help you, so more detail may be required in this process.
It’s easy for part-timers to make excuses that other priorities caused you to miss milestones, but predictable results and metrics in this mode are even more critical than for full-time members. Don’t wait for anyone to pay your way to class, or give you time off for training. Set realistic milestones and take them seriously.
The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. Provide direct customer contact to everyone, as well as training.
Training and coaching. Once a new product is launched, a key metric is the ratio of new product sales to overall sales. Sustainable innovation is really the only sustainable competitive advantage. Yet survival in today’s world of rapid business change requires that you keep one step ahead of your competition.
Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. At this stage, you should start recruiting, hiring, paying, and training others to help you run your business. Here you will likely need to train others to help you, so more detail may be required in this process.
Use data analysis and metrics to measure for results. Through analytics on current employees, you will be able to predict re-training requirements and minimize employee turnover. Efficiency in the workplace is the time it takes to do something, but it can ignore work quality and customer impact.
First, you as the leader must be a role model for the actions you desire – including positive communication, active coaching, rewards for results, as well as providing required tools and training. Use metrics to assess needs and growth economics.
In all cases, don’t skip the basic training. 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. You know the basic ingredients, and you can visualize the results you want. validate your business model) Continuous improvement.
The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. Provide direct customer contact to everyone, as well as training.
The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. Provide direct customer contact to everyone, as well as training.
It’s your job as a leader to be the model high performer, quantify the team view with metrics, and expand awareness to the best outside competition and new tools. Attract, train, and reward only the best leaders.
Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. At this stage, you should start recruiting, hiring, paying, and training others to help you run your business. Here you will likely need to train others to help you, so more detail may be required in this process.
Sustainable competitive advantage. In all cases, you need customer support, formal processes and training in place. As an entrepreneur, make sure you understand your direct and indirect costs, staffing requirements, margins and metrics to make sure these elements are in place. Product distribution or service delivery.
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