Sat.Mar 17, 2012 - Fri.Mar 23, 2012

Startup Professionals Musings

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Investors Seek Entrepreneurs With Fire in the Belly

Startup Professionals Musings

I’ve noticed that some entrepreneurs seem to have no trouble attracting investors, while others with a great business plan struggle with it. The reality is that angel investors are humans, and personal traits often make or break the relationship, even before the investment is considered. On the top line, angel investors look to invest in entrepreneurs that have an almost unwavering passion and sense of urgency.

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Customer Loyalty Can Be a Startup Competitive Edge

Startup Professionals Musings

You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. A satisfied customer is necessary, but not sufficient, to be a loyal customer who will come back repeatedly, refer their friends and family to you, and be faithful even when your price is not the lowest. Herein lies an opportunity for startups to beat the big guys.

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How to Make a Business Mentoring Relationship Work

Startup Professionals Musings

I’m a big fan of mentoring in business, and have been at different times on both the contributing and receiving end of the process. These days, I seem to often hear from entrepreneurs who are struggling to find a mentor, or complaining about their lack of effectiveness. Like any other relationship, it takes work on both sides to make mentoring work.

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Entitlements in Business Should Never Replace Merit

Startup Professionals Musings

Where did this pervasive sense of entitlement in our business culture come from? I’ve written about this before, but I was surprised again recently at a conference for startups when a couple of entrepreneurs started berating investors for their low rate of funding for early-stage startups. It sounded to investors like me that they expected a funding entitlement for their startup idea.

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How to Gauge Business Potential for Your Invention

Startup Professionals Musings

I’m often approached by people who claim to have invented the next big thing, and ask me how much it’s worth, or complain that they can’t find an investor who will fund it. The honest answer is that ideas and new technologies are worth nothing, outside the context of a specific entrepreneur and a specific business plan that meets a market need for a fair price.