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This is the mysterious and dreaded duediligence process, which can kill the whole deal. Some entrepreneurs do very little to prepare for duediligence, assuming all the talking has already been done, and the business plan and results to-date tell the right story. My best advice is to stick to the middle ground.
This is the mysterious and dreaded duediligence process, which can kill the whole deal. Some entrepreneurs do very little to prepare for duediligence, assuming all the talking has already been done, and the business plan and results to-date tell the right story. My best advice is to stick to the middle ground.
This is the mysterious and dreaded duediligence process, which can kill the whole deal. Some entrepreneurs do very little to prepare for duediligence, assuming all the talking has already been done, and the business plan and results to-date tell the right story. My best advice is to stick to the middle ground.
Some pundits argue that the E-Myth principle is now outdated, due to the instant access to information via the Internet, pervasive networking via socialmedia, and courses on entrepreneurship at all levels of education. In the interim, I recommend you use advisors, socialmedia, and the Internet to find your alter-ego.
I continue to be amazed that more than a quarter of new businesses don’t even have a website , and many more don’t pay attention to socialmedia, or monitor feedback on sites like Yelp. At minimum, that requires a modern website, and visibility on relevant socialmedia sites, likely including Facebook, YouTube, and Twitter.
New entrepreneurs, especially technical ones, are excited by early adopters, and tend to focus on their feedback, which will always suggest more product features and options. Maintaining business momentum requires constant analysis and vigilance for market and technology changes, as well an internal focus on optimization.
I continue to collect great content that is the intersection of startups, products, online and technology. The United States is now a debtor nation to China and that the bill is about to come due. These are probably the two sites where I've posted the most reviews. One out of ten of Americans are out of work.
All of us are struggling to keep up in this age of technological acceleration, where we learn every day that we can’t trust links in our email, marketing guarantees, or phone requests from people we don’t know. Customers these days are turned off by timeless safe messages, delivered repeatedly on traditional media.
I have never felt prouder of the team & product at awe.sm ( please visit to check out our latest & be ready for our next big product announcement due out in next month or so) and yet we just brought in a new CEO to the company, Fred McIntyre. ” We had inbound M&A requests from some of the biggest names in tech.
Some pundits argue that the E-Myth principle is now outdated, due to the instant access to information via the Internet, pervasive networking via socialmedia, and courses on entrepreneurship at all levels of education. In the interim, I recommend you use socialmedia and the Internet to find your alter-ego.
With socialmedia and smart phone apps, real product information spreads at astounding speeds. If you as an entrepreneur are not “listening” to your online reviews, and not moving quickly to make changes, you are losing ground. Discipline is required to continually track results, return on investment, and customer satisfaction.
Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt even more completely to the changes in the buying and social behavior of consumers. Perhaps the greatest asset in social capital is that of benevolence.
In my experience, the good news is that everyone is becoming more and more comfortable with relationships via the new media and technology. Generalized email blasts and socialmedia ads may be great for finding interest in your services, but these are not enough to close and maintain new clients.
I believe the days of the “job work” mentality are thankfully waning, with more people looking to get satisfaction by making the world a better place, rather than just tolerating brain-numbing work to fund enjoyment elsewhere. Socialmedia is a boon for entrepreneurs and startups. Women are a growing force as entrepreneurs.
With socialmedia and smart phone apps, real product information spreads at astounding speeds. If you as an entrepreneur are not “listening” to your online reviews, and not moving quickly to make changes, you are losing ground. Discipline is required to continually track results, return on investment, and customer satisfaction.
They couldn’t possibly understand the new socialmedia culture, new technologies, or have the determination to beat their younger counterparts in the market. In fact, they are well-qualified overall, having worked with high technology and computers for at least 20 years, are highly educated, and highly motivated.
I will summarize these here, with my insights, for your review and implementation: Physical health. The recent pandemic and remote team members have made the focus on social even more critical. Occupational satisfaction. Remember that team members are people first, not just another technical solution component.
I believe the days of the “job work” mentality are thankfully waning, with more people looking to get satisfaction by making the world a better place, rather than just tolerating brain-numbing work to fund enjoyment elsewhere. Socialmedia is a boon for entrepreneurs and startups. Women are a growing force as entrepreneurs.
Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt just as completely to the changes in the buying and social behavior of consumers. High-technology product startups, without customers, don’t make a business.
Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt just as completely to the changes in the buying and social behavior of consumers. High-technology product startups, without customers, don’t make a business.
Some pundits argue that the E-Myth principle is now out-dated, due to the instant access to information via the Internet, pervasive networking via socialmedia, and courses on entrepreneurship at all levels of education. In the interim, I recommend you use socialmedia and the Internet to find your alter-ego.
You may be convinced that your technical expertise, and your passion for the product, will allow you to succeed without reliance on team members, but in my experience, I have seen many careers and businesses fail due to lack of team synergy, or even in-fighting and dysfunction. Be visible and communicate regularly with the team.
I have seen too many careers and businesses fail due to projects that went off the rails. The technology and tools in this discipline have improved dramatically over the years, so be sure you stay current and knowledgeable over time. Stretch here also increases job satisfaction. Find what works for you.
I believe the days of the “job work” mentality are thankfully waning, with more people looking to get satisfaction by making the world a better place, rather than just tolerating brain-numbing work to fund enjoyment elsewhere. Socialmedia is a boon for entrepreneurs and startups. Women are a growing force as entrepreneurs.
They couldn’t possibly understand the new socialmedia culture, new technologies, or have the determination to beat their younger counterparts in the market. In fact, they are well-qualified overall, having worked with high technology and computers for at least 20 years, are highly educated, and highly motivated.
When I dig deeper, I find that many of you are easily excited by a great new idea, but fail to diligently follow a validation process to test the limits of your thinking, before proceeding to rollout. Start with a real problem, rather than a technology or solution looking for a problem. Evaluate alternatives that are now available.
Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt even more completely to the changes in the buying and social behavior of consumers. Perhaps the greatest asset in social capital is that of benevolence.
With socialmedia and smart phone conversations, real product information spreads at astounding speeds. If you as an entrepreneur are not “listening” to your online reviews, and not moving quickly to make changes, you are losing ground. They don’t realize that business as usual is gone forever.
Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt even more completely to the changes in the buying and social behavior of consumers. Perhaps the greatest asset in social capital is that of benevolence.
With socialmedia and smart phone conversations, real product information spreads at astounding speeds. If you as an entrepreneur are not “listening” to your online reviews, and not moving quickly to make changes, you are losing ground. They don’t realize that business as usual is gone forever.
Here I often find that you need to seek and work with a co-founder who can complement your technical skills with financial and marketing to start the business. You likely have hired a few helpers, such as an assistant, a socialmedia coordinator, and a bookkeeper. Recruit a bare-bones staff to follow your directions.
They couldn’t possibly understand the new socialmedia culture, new technologies, or have the determination to beat their younger counterparts in the market. In fact, they are well-qualified overall, having worked with high technology and computers for at least 20 years, are highly educated, and highly motivated.
Gerber memorialized this concept many years ago in his classic book E-Myth , which postulates that most startups are initiated by entrepreneurs with technical skills, rather than business skills, resulting in a high failure rate. In fact, both customers and investors often avoid the perceived high risk of innovative technology pitches.
Over time, I have collected a list of new business attributes that go beyond the initial idea or solution, which often are more critical to long-term success and satisfaction. Be customer focused, not technology focused. A legendary pivot example in socialmedia was the transformation of Odeo into Twitter.
I recommend using digital channels, including email and socialmedia, personalized, if possible, with promotions. Innovation is not all about break-through technologies and big financial investments. Look for functions that may be performing poorly in your business due to lack of skills or necessary tools.
With socialmedia and smart phone apps, real product information spreads at astounding speeds. If you as an entrepreneur are not “listening” to your online reviews, and not moving quickly to make changes, you are losing ground. Discipline is required to continually track results, return on investment, and customer satisfaction.
I believe the days of the “job work” mentality are thankfully waning, with more people looking to get satisfaction by making the world a better place, rather than just tolerating brain-numbing work to fund enjoyment elsewhere. Socialmedia is a boon for entrepreneurs and startups. Women are a growing force as entrepreneurs.
Many people will argue that total customer satisfaction is paramount, but I’m a pragmatist who believes that treating everyone the same really means treating all of them poorly. Use interactive socialmedia and targeted marketing to go after the customers that you want and need.
Yet in this age of technology, many seem to favor tools and data to get the edge, or can’t find the time to talk to real people. Each time I mentor an entrepreneur, I learn new things about their technology, customers, and business domain. Shared socialmedia is the new networking.
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