Startup Professionals Musings

JUNE 7, 2020

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.

Entrepreneur 131

Entrepreneur Outsource Development Startup Competition 131

Startup Professionals Musings

JANUARY 11, 2023

Obviously, the business of business has been around a long time, with many “best practices” well-defined and well documented, so creativity that ignores these is usually not a good thing. Using data metrics alone for decisions, without seeking the root problem and alternative solutions, kills creativity. Not always to good effect.

Marketing 119

Marketing Metrics Demand Statistics 119

Startup Professionals Musings

JANUARY 6, 2021

Every new business I know dreams of building momentum in their business, where growth continues to increase, customers become your best advocates, and employee motivation is high. Unfortunately, with limited resources, this isn’t possible, and it frustrates customers and the team. Focus first on finding more of the right customers.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

Startup Professionals Musings

OCTOBER 5, 2022

I have long believed that each of you is responsible for documenting and communicating your own value, without bragging or hyperbole. Documenting your input early, and follow-up later by quantifying customer revenue is your only way to make sure your value in the revenue growth process is not forgotten.

Examples 133

Examples Metrics Startup Customer 133

Berkonomics

JANUARY 30, 2014

What happens to careful planning, sure-fire metrics, quality test scenarios, market research, a good business plan – all in place before pulling the trigger of a new opportunity. Without even pausing to document the process internally, no-one can easily take over the job, if for any reason the cowboy coder is no longer in control.

Artificial Inteligence 189

Artificial Inteligence Startup Metrics Ideas 189

Startup Professionals Musings

MAY 12, 2021

If customers don’t know you exist, you can’t solve their problem, they won’t buy. Getting customer attention often takes more innovation today than solving the tough technical problems. Talk to real live customers in addition to marketers. Avoid the use of jargon, big claims, and special promotions.

Technical Advisors 154

Technical Advisors Tips Marketing Case Study 154

Startup Professionals Musings

APRIL 18, 2020

Obviously, the business of business has been around a long time, with many “best practices” well-defined and well documented, so creativity that ignores these is usually not a good thing. Using data metrics alone for decisions, without seeking the root problem and alternative solutions, kills creativity. Not always to good effect.

Metrics 157

Metrics Demand Statistics Sales 157

Startup Professionals Musings

NOVEMBER 7, 2022

Even with advantages that independent startups can never hope to match, including brand recognition, customers, financial capital, and distribution, I don’t often see the entrepreneurial passion for innovation, agility, and team perseverance exhibited by new startups. A documented business plan for the new venture is critical here.

Incubator 143

Incubator Seed Funding Metrics Customer 143

Startup Professionals Musings

DECEMBER 13, 2019

It’s always tempting to think that more product variations will satisfy more customers and lead to new sales. Some chaos is normal in every new business, but many wait far too long before they install metrics based on “best practices,” and fail to attack obvious bottlenecks with a vengeance. Use multiple small orders at first.

Outsource Development 122

Outsource Development Outsource Metrics Technical Review 122

Startup Professionals Musings

SEPTEMBER 16, 2023

The days of lengthy, text-heavy, business plan documents prepared by expensive experts are behind us. Building a minimum viable product, with customer validation. Early customer feedback will position your solution, and help you make pivots before critical time and money are lost. Just make sure you can fill in all the details.

Entrepreneur 104

Entrepreneur Startup Social Media News 104

Startup Professionals Musings

JUNE 18, 2023

Finally you create and document your recipe (business plan). If you can’t identify customer interest, it doesn’t matter how good your product is. Don’t be afraid to test your ultimate entree on customers. This means find some hungry people who would love a good dinner, and be willing to pay for it. Make them “feel the love.”

Startup 112

Startup Coach Metrics Marketing 112

Startup Professionals Musings

APRIL 30, 2023

Market research can thus be based on real customers and a previously tested market. The auto industry and others have used this model for generations, so business processes and metrics for innovation are well documented. Timing is critical, as well as focus on marketing and customer satisfaction. Martin Zwilling

Social Media 92

Social Media Study Research Satisfaction 92

Both Sides of the Table

MAY 14, 2018

Here’s Why You Should Just Send the Deck I know you have your document sending tool to send your fund-raising deck to VCs and track who read your deck, which pages they read and how much time they spend on each page. I Know Everybody Told You to Send Your Fund-Raising Decks as a Link. What should not be in your deck?

Funding 239

Funding Venture Capital IP Email 239

Startup Professionals Musings

AUGUST 8, 2020

Market research can thus be based on real customers and a previously tested market. The auto industry and others have used this model for generations, so business processes and metrics for innovation are well documented. Timing is critical, as well as focus on marketing and customer satisfaction. Martin Zwilling.

Startup 157

Startup Social Media Study Research 157

SoCal CTO

FEBRUARY 13, 2013

Once you build it, they will now ask you about the key metrics that they need proven in order to see if you really are a good investment. The second bullet, getting feedback from customers is most often not valid either. The real reason to build an MVP is to do early tests of key Startup Metrics for the business.

Technical Review 338

Technical Review CTO Hire CTO Coach Software Review 338

Startup Professionals Musings

MAY 1, 2019

Don’t get me wrong, it’s always great to see that first surge of customers, but that’s just the beginning of your work. With the real data from that surge, you need to take a hard look at business model realities, cost of customer acquisition, inventory costs, and other key metrics.

Metrics 86

Metrics Startup Training Customer 86

Startup Professionals Musings

AUGUST 25, 2011

But the reality is that sellers are no longer in charge of the customer buying process. Kristin Zhivago, in her new book “ Roadmap to Revenue ,” makes the point that the selling system is broken, since sellers no longer sell the way customers are buying. The best way to do this is with real customer interviews.

Customer 96

Customer Custom Search Engine Optimization Summary 96

Startup Professionals Musings

NOVEMBER 28, 2020

The days of lengthy, text-heavy, business plan documents prepared by expensive experts are behind us. Building a minimum viable product, with customer validation. Early customer feedback will position your solution, and help you make pivots before critical time and money are lost. Just make sure you can fill in all the details.

Tips 161

Tips Startup Social Media News 161

Startup Professionals Musings

SEPTEMBER 21, 2020

Finally you create and document your recipe (business plan). If you can’t identify customer interest, it doesn’t matter how good your product is. Don’t be afraid to test your ultimate entree on customers. This means find some hungry people who would love a good dinner, and be willing to pay for it. Make them “feel the love.”

Startup 156

Startup Coach Metrics Marketing 156

Startup Professionals Musings

OCTOBER 3, 2016

Sets goals and milestones, with metrics to track progress. Good implementers document and communicate long-term goals, and translate them into daily action items. They define metrics for each goal, and diligently track themselves against these metrics. Focus all initiatives around value to your customers.

Entrepreneur 106

Entrepreneur Satisfaction Metrics Ideas 106

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 multiple party contracts, always document.

Companies 165

Companies Company Metrics Entrepreneur 165

Startup Professionals Musings

AUGUST 1, 2021

You continually get frustrated with your team members, customers, vendors, and partners. Data – Define a handful of key metrics to free you from managing personalities, egos, subjective issues, emotions, and intangibles. Each must be documented clearly and refined regularly. It’s very frustrating.

Entrepreneur 174

Entrepreneur Search Engine Optimization Satisfaction Social Media 174

Both Sides of the Table

MAY 19, 2018

Your historical trading information including financials and a “customer file” which shows the history of your transactions so that investors can run “cohort” analyses Customer reference, personal references, key team members, compensation, cap table, stock option plan, etc. It doesn’t. The data room is where your process goes to die.

Funding 336

Funding Venture Capital Startup Email 336

SoCal CTO

MARCH 11, 2013

If you do build the MVP and show it to them, they will ask you about your metrics. They really want metrics, not a product. The real question you should be asking is "When I've built this product and show you the following metrics, would you invest?"

Metrics 264

Metrics Venture Capital News Product 264

Startup Professionals Musings

SEPTEMBER 30, 2023

Document and communicate a solid business plan. These relationships must be nurtured over time, balanced against your personal life, and grow to include major customers, competitors, and potential acquirers. You may be comfortable driving your future based on vision and emotion, or have long been a stickler for details and metrics.

Startup 94

Startup Ideas Metrics Entrepreneur 94

Startup Professionals Musings

OCTOBER 1, 2023

These areas may have not just your co-founder, but also the robust ecosystem your startup needs for investors, programmers and customers. Jointly define major milestones and key metrics for the startup. Negotiate and document roles early, including who is the boss. Explore candidate common interests outside of work.

Startup 99

Startup High Tech Entrepreneur Writing 99

Startup Professionals Musings

DECEMBER 9, 2022

I too often see people who are quick to make excuses, blame failures on peers or customers, or see management as the reason for their lack of productivity. Document plans and progress, with checkpoints. Setting your own metrics, and measuring yourself , will facilitate accountability. Communicate ongoing needs and changes early.

Activity 109

Activity Organization Mentor Training 109

Startup Professionals Musings

JULY 31, 2017

“Sleeping giants do wake up,” I always say, to remind new business owners that nobody cares what you do when you are not a threat, but when you get some real traction with customers, competitors will come out of the woodwork with a vengeance. You need quantified value for customers to see, feel, and pay for.

Metrics 58

Metrics Resource Startup Training 58

Startup Professionals Musings

MAY 24, 2015

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.

Outsource Development 99

Outsource Development Startup Competition Ideas 99

Startup Professionals Musings

OCTOBER 8, 2018

As a long-time advisor to entrepreneurs and business owners, I rarely find someone who doesn’t proclaim that the business world is changing rapidly, with new technology, new customer expectations, and new cultures. Others still routinely have phone hold queues for customer contact that can last up to an hour, with no alternative options.

Technical Review 84

Technical Review Customer Custom Startup 84

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. Don’t let it be just a conflict over graphic design. Evaluate conflict win-lose versus win-win potential.

Activity 145

Activity Organization Examples Satisfaction 145

Startup Professionals Musings

DECEMBER 14, 2013

But the reality is that sellers are no longer in charge of the customer buying process. Kristin Zhivago, in her book “ Roadmap to Revenue ,” makes the point that the selling system is broken, since sellers no longer sell the way customers are buying. The best way to do this is with real customer interviews.

Startup 105

Startup Search Engine Optimization Summary Customer 105

Both Sides of the Table

SEPTEMBER 10, 2021

What used to be an “A” round in 2011 is now routinely called a Seed round and this has been so engrained that founders would rather take less money than to have to put the words “A round” in their legal documents. We can’t wait for customers to use the product for 12–18 months and do customer interviews or look at purchase cohorts.

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Startup Professionals Musings

APRIL 7, 2017

But the reality is that sellers are no longer in charge of the customer buying process. Kristin Zhivago, in her classic book “ Roadmap to Revenue ,” makes the point that the selling system is broken, since sellers no longer sell the way customers are buying. The best way to do this is with real customer interviews.

Search Engine Optimization 58

Search Engine Optimization Startup SEO Customer 58

socalTECH

JANUARY 2, 2020

Leaseville, the pioneer in the virtual lease-to-own (LTO) space demonstrated strong metrics on its new product this year and is now poised to scale significantly. With customer acquisition costs (CAC) rising significantly across most products, one company experimented with a few low-cost initiatives. Two lessons learnedand relearned!

Capital 100

Capital Southern California SoCal SaaS 100

Startup Professionals Musings

MAY 28, 2016

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.

Ideas 62

Ideas Outsource Development Startup Competition 62

Startup Professionals Musings

JANUARY 26, 2018

The intent is to indicate that founder passion is not a substitute for real customers buying the product. The challenge is to convince investors that your business will attract real customers, before you have a revenue stream that exceeds your expenses. Pivoting early, based on real customer feedback, is always cheaper than later.

Custom 59

Custom Customer Pricing Startup 59