Berkonomics
FEBRUARY 17, 2022
How do you define credibility in business? A friend of mine recently told me his story of how his very career rests on his credibility with his major supplier–partners. He stated that everything rides upon his credibility when he declares that he can produce a quality product on time, especially when his competition has faltered attempting to do so.
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. Maybe it’s time to look harder at the mantra of a new breed of gurus and successful entrepreneurs, including Steve Blank and Eric Ries , called “nail it then scale it” (NISI).
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Startup Professionals Musings
FEBRUARY 18, 2022
You can’t win as an entrepreneur or business owner without full confidence in your own ability, as well as in your solution and business model. As an angel investor in startups, I always look for this self-confidence, no matter how innovative the solution. Of course, you can be overly confident or unrealistic in your expectations, without the skills or plans to run a business.
Startup Professionals Musings
FEBRUARY 13, 2022
Don’t charge the hill until you are “ready.” This probably seems obvious to military types, but I see entrepreneurs violating this rule all the time. They approach key potential investors way too early, trying to talk their way up the hill, with no supporting business plan, and before they have a support team around them. Needless to say, they usually get shot down, and get no second chance.
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Startup Professionals Musings
FEBRUARY 12, 2022
Change is about the only thing constant in the world of startups. Despite their own focus on changing the world, they often forget that they too have to change rapidly and often as the market evolves. Too many find that out too late, and are left chasing a rabbit that is long gone. 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.
Startup Professionals Musings
FEBRUARY 16, 2022
As a business advisor and technologist, I often think about the large array of opportunities for entrepreneurs as technology seems to be evolving faster and faster. Yet I still too often hear the question, “Can you give me a really sure-fire idea for starting my own business?” My standard answer is that ideas are a dime a dozen, and success is all about smart execution, not ideas.
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