Startup Professionals Musings

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7 Steps To A New Business From An Innovative Solution

Startup Professionals Musings

Most technical entrepreneurs focus hard on building an innovative product, but forget that an elegant solution doesn’t automatically translate into a successful business. Businesses require an equally elegant business model, with the right price, messaging and delivery channel to the right target customers to keep the dream alive and growing. Defining the right business model requires the same diligence as designing the right product, but the approach and skills required are different.

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8 Business Realities Every Entrepreneur Needs To Know

Startup Professionals Musings

How many entrepreneurs do you know that “almost” made it big? Startups are very risky, and most fail. Yet entrepreneurship is one of the fastest growing trends in business today. Surveys show that entrepreneurs are among the happiest people in the world, despite the challenges. Yet it would pay real dividends to know at the start what separates the “also-rans” from the winners.

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7 Entrepreneur Self-Assessment Attributes For Success

Startup Professionals Musings

As a mentor to aspiring entrepreneurs, and having graduated from a big company myself, I talk to many people who have spent years struggling up the corporate ladder who dream of jumping ship and becoming an entrepreneur. I typically suggest that the grass always looks greener on the other side, and the move from employee to entrepreneur is very risky and not for everyone.

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6 Unforeseen Obstacles Every New Venture Must Conquer

Startup Professionals Musings

When entrepreneurs introduce new products to the market, their passion and conviction often leads them to assume that every potential customer will see the immediate need and value, and will quickly adopt the solution. They are devastated when their business growth never starts or stalls, and they have no idea how to get it moving again. As an advisor to many startups, I often spend hours with business owners helping them anticipate every possible obstacle to the adoption of their solution, and

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Every Startup Goes Through Distinctive Funding Phases

Startup Professionals Musings

Some entrepreneurs start polling venture capitalists for that multi-million-dollar investment before they even have a business plan. That’s like trying to sell part of something to a stranger for big money when you haven’t fully defined it yet. It won’t work, it costs time and money, and hurts your credibility when you need them later. Every entrepreneur needs help and support along the way, from developing the initial idea, to selling off the successful business (exit strategy).

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8 Attributes Of Entrepreneurs Who Transform Society

Startup Professionals Musings

Every entrepreneur has an idea for transforming a market with innovative new technology, or transforming society with a new process. But unfortunately, most of these ideas fail at the execution level, or are not truly innovative. Entrepreneurs who have been really transformative, like Steve Jobs and Walt Disney, seemed to know how to deal with all the right elements.

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5 Relationship Stages That Determine Business Success

Startup Professionals Musings

In the world of entrepreneurs and startups, high level relationships are everything. You can’t start a business alone. You need partners, team members, investors, vendors, and customers. But people don’t realize that all relationships are not the same. There are people you only recognize on the street, business friends, and then close friends whom you can always count on to help.