Startup Professionals Musings

FEBRUARY 3, 2021

As a long-time mentor to new entrepreneurs and business owners, I have noticed that many no longer associate more fulfillment and satisfaction with more money, power, and success. In fact, customers today also seem more attracted to companies with a higher purpose than profit. Mentor others to share what you have learned.

Satisfaction 173

Satisfaction Mentor Coach Entrepreneur 173

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. Balance of passion with reality and customer feedback. Today, customer loyalty is based on the “ total customer experience ,” as opposed to price or service alone.

Mentor 133

Mentor Startup Customer Custom 133

Startup Professionals Musings

MAY 20, 2020

For example, if you as an entrepreneur come across as arrogant or too casual, many people you need to deal with in business, including investors, suppliers, and customers, will run the other way. Shares views and learns from a personal mentor. Listens well, and seeks out critical feedback from others.

Entrepreneur 168

Entrepreneur Mentor Metrics Customer 168

Startup Professionals Musings

SEPTEMBER 22, 2022

Great marketing is required to generate revenue and grow every business, especially new businesses which have no brand recognition nor loyal customer base. Yet, as a business consultant, I still find many of you business leaders relying primarily on your technology, word-of-mouth , or location to attract necessary customers.

Marketing 133

Marketing Customer Custom Outsource Development 133

Startup Professionals Musings

SEPTEMBER 15, 2023

Many people believe that new ideas are the critical element of innovation, but in my experience as a mentor and investor, long-term business success is more about implementation than ideas. Search for customer pain rather than high margins. New customers don’t see incremental improvements.

Artificial Inteligence 114

Artificial Inteligence Ideas Satisfaction Customer 114

Startup Professionals Musings

APRIL 9, 2023

I’m sure you can imagine how much that impacts any business or startup’s ability to react to changing customer needs and growth opportunities, no matter how insightful their leaders. If you and your team are confident in each other, and proud of your business solution, you will not be afraid to innovate as customer requirements change.

Coach 117

Coach Mentor Study Activity 117

Startup Professionals Musings

JANUARY 18, 2023

Customer service has traditionally been focused on the resolution of complaints , primarily after a transaction. My recommendations always include adopting a customer mindset, as well as the following steps: Accept today’s definition of relevant customer support. Treat every customer exceptionally before they complain.

Competition 109

Competition Services Customer Custom 109

Startup Professionals Musings

SEPTEMBER 23, 2020

Mark Zuckerberg, while still in school, tested the viability of his “ FaceMash ” technology as a business by rolling it out to other students at Harvard as customers. He learned quickly that several pivots were required for business, legal, and customer acceptance reasons. Take advantage of free startup programs and mentors.

Entrepreneur 157

Entrepreneur Mentor Class Resource 157

Startup Professionals Musings

JANUARY 25, 2016

If you can’t provide a memorable customer experience, your startup won’t survive very long these days. You now need more than loyalty from your customers -- they need to be your best advocates. The days of pushing new and marginal performers into customer service are gone. Every job on your team drives your customer experience.

Customer 55

Customer Custom Startup Coach 55

Startup Professionals Musings

FEBRUARY 14, 2022

I see more and more entrepreneurs who seem to have everything going for them – vision, motivation, passion, even a good business plan, product, and money, and yet they can’t close customers. I found their five phases of the process to be compelling, based on my own years of experience mentoring startups: Nail the pain.

Technical Review 143

Technical Review Customer Custom Entrepreneur 143

Startup Professionals Musings

APRIL 16, 2022

Yet I find, as a mentor and outside consultant, that many of you focus only on working conditions and compensation as the key factors determining team engagement , health, and productivity. by Donna Cutting, who is a globally-recognized guru on employee culture and optimizing customer service. Emotional stability. Environmental safety.

Technical Review 141

Technical Review Mentor Social Media Customer 141

Both Sides of the Table

OCTOBER 26, 2020

So mostly we just had to listen to customer feedback from founders, VCs and LPs. The core of the investing job of course is investing dollars into startup companies and helping as a mentor, advisor and board member on the companies in which you’ve invested. He launched our scout program as an example. So What Does All This Mean?

Venture Capital 361

Venture Capital Startup Invest CitySearch 361

Startup Professionals Musings

AUGUST 30, 2023

Listen to your team, mentors, and customers to recognize real successes and failures, and surround yourself with people who can fill in the gaps. You can't control government spending, for example, or global politics. Allocate your time and resources to customer expectations and competitor challenges.

Mentor 104

Mentor Startup Coach Satisfaction 104

Startup Professionals Musings

FEBRUARY 16, 2018

The market is changing so fast these days, and if you are not planning a solution today for tomorrow’s customers, you may be setting yourself up for failure and don’t even realize it. There are many free generalized tools, including Google Trends , which can be used to track customer behavior in looking for things that don’t exist yet.

Customer 57

Customer Custom Technical Review Software Review 57

Startup Professionals Musings

FEBRUARY 9, 2022

In my experience of many years as a business founder, consultant, and executive, I offer the following list of situations that always imply a real need for people and business leadership, and have the potential for long-term positive impact to your bottom line and business success: Your business image is slipping in the eyes of customers.

Coach 120

Coach Satisfaction Customer Custom 120

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

Startup Professionals Musings

MAY 22, 2023

For example, witness the current creation of the space tourism industry, vaccines to control new viruses, or simply providing a free product to the needy for every product sold. As a mentor to many business professionals, I find many who are risk-averse or not confident in their own abilities to make forward-looking decisions.

Capital 142

Capital Netflix Resource Customer 142

Startup Professionals Musings

FEBRUARY 12, 2021

For example, Elon Musk says he seeks out innovations from his team by constantly asking them how they can make things better, how often they get out of internal meetings and into customer shops, and actively encouraging them to try new things. Spend more time mentoring and coaching your team.

Tips 159

Tips Satisfaction Coach Mentor 159

Startup Professionals Musings

JUNE 30, 2021

For example, a couple of years ago, Starbucks' CEO Kevin R. A community requires two-way communication and respect – including advisors, partners, and customers. Just as your business needs feedback from customers, you need regular feedback from those around you on how to do better.

Coach 162

Coach Startup Resource Competition 162

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.

Training 173

Training Examples Startup Social Media 173

Startup Professionals Musings

FEBRUARY 13, 2021

In my role as advisor and mentor to many new entrepreneurs, I often find myself suggesting that they think bigger. For example, I’m not sure the world needs one more social media niche site, or another dating site, or yet another flavored drink alternative. Communicate and market your solution to the max.

Startup 162

Startup Metrics Ideas Entrepreneur 162

Startup Professionals Musings

NOVEMBER 1, 2021

For example, all the restaurants I know were impacted by diners staying at home during the pandemic. Rather than get angry and upset, fall back to your initial process for evaluating markets, customer needs, and financial implications. Seek input from the team, as well as mentors.

Mentor 127

Mentor Satisfaction Customer Custom 127

Startup Professionals Musings

JULY 27, 2022

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. One way to do this is to nurture mentoring relationships with experts in other disciplines, as Bill Gates did with Warren Buffet. Always practice thinking outside the box.

Competition 139

Competition Examples Customer Custom 139

Startup Professionals Musings

JANUARY 25, 2019

As an advisor to technical entrepreneurs, the most common mistake I see is the “If we build it, they will come” approach with no sales plan, under the assumption that the technology is so spectacular that customers will buy the product. Effective value propositions are quantified and personalized for each customer or target segment.

Mentor 90

Mentor Startup Sales Examples 90

Startup Professionals Musings

APRIL 4, 2020

For example, I often hear proposals for new online social media or collaboration platforms, maybe more specifically tuned to inventors or artists, or easier to use, and populated by experts, to compete against Slack or Facebook. Remember that your goal is to build a successful business, and customers are in control of making that happen.

Startup 134

Startup Artificial Inteligence Ideas Entrepreneur 134

Startup Professionals Musings

SEPTEMBER 1, 2021

Every entrepreneur and every business I meet in my consulting and mentoring role has great intentions of bringing real innovation to the market, yet I find that most ideas are merely small extensions to existing solutions. Both fail to look first at what customers really need, and are willing to pay for.

Startup 146

Startup Mentor Entrepreneur Ideas 146

Startup Professionals Musings

SEPTEMBER 25, 2022

In fact, I have found from personal experience and mentoring that both of these are necessary, but not sufficient, for building a business. There is more and more evidence that a more human-centered or heart-centered leadership yields the best results with your team and with customers in the long run.

Training 142

Training Coach Startup Entrepreneur 142

Startup Professionals Musings

MARCH 22, 2023

There are many components of an ownership thinking strategy, but here are some of the key ones from my own perspective, as a mentor and advisor to aspiring entrepreneurs and new business owners: Willing to take smart risks which lead to long-term growth. More new, repeat, and loyal customers means career success.

Startup 111

Startup Satisfaction Metrics Customer 111

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. Ability to relate aspirations to customer needs. Marketing your personal brand and your vision.

Startup 113

Startup Customer Custom Technical Review 113

Startup Professionals Musings

AUGUST 4, 2023

These might include anyone bringing in a new customer, representing the company in a good social cause, or participating in a video or social media campaign on their own time. 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.

Startup 95

Startup Coach Mentor Social Media 95

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.

Mentor 122

Mentor Ideas Competition Examples 122

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. Find people who enjoy being problem solvers.

Coach 174

Coach Activity Customer Custom 174

Startup Professionals Musings

DECEMBER 12, 2022

For example, entrepreneur Sir Richard Branson has started or grown over 400 companies, from record labels to space travel, so for him the joy is clearly in the startup. Practice leadership by example beyond your business entity. Growing the company means growing people through mentoring and training.

Startup 137

Startup Training Entrepreneur Organization 137

Startup Professionals Musings

AUGUST 1, 2022

In my experience as an advisor and mentor to entrepreneurs in business, one of the biggest failures I see is a lack of self-leadership. For example, I often hear from aspiring entrepreneurs that “I had that idea first, and he stole it, and is now making money on my idea.” Values are your most valuable assets.

Capital 114

Capital Coach Satisfaction Ideas 114

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. If looking for help, you can find interns willing to work for the experience, and real insights into new customer segments.

Entrepreneur 110

Entrepreneur Class Startup Resource 110

Startup Professionals Musings

JUNE 9, 2023

For example, if you are an entrepreneur seeking investment or a cofounder, there is no substitute for networking at industry and startup conferences in your area. If you are an introvert like me, this may be difficult, but remember that your business needs collaboration with partners and vendors, as well as good customers.

Networking 104

Networking Mentor Conference Summary 104

Startup Professionals Musings

MARCH 23, 2022

Many of you business leaders I work with, and entrepreneurs I mentor, have a great strategy and an innovative solution , but struggle with building and motivating the team necessary to run your business. This created a connection with both his team and customers. You really need their insights and customer interaction feedback.

Mentor 108

Mentor Social Media Coach Customer 108