Startup Professionals Musings

APRIL 15, 2011

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. It starts with a customer problem or need, and includes proving the technical concept, but starts earlier and goes much further, per the following key steps: Quantify problem cost-of-pain first.

Business Model 234

Business Model Advisory Board Startup Angel Investor 234

Startup Professionals Musings

JUNE 22, 2016

These need to go beyond the traditional revenue, cost, and volume metrics which may not yet have data, and can mislead you about real customer acceptance. Build an inside advisory board of influencers and experts. Early examples would include website traffic, positive reactions from potential customers, and blogger support.

Metrics 143

Metrics Advisory Board Startup Lean 143

David Teten

SEPTEMBER 5, 2014

Those interactions vary – from mentorship and product feedback to learning about unmet needs in a market or understanding whether a sales channel is worth pursuing. And on the periphery, we like to help our members with some basic resources, at no additional cost. In that way, we see the value from both sides.

New York 114

New York Technical Review Networking Advisory Board 114

Startup Professionals Musings

AUGUST 13, 2012

Explain in terms your mother could understand, and quantify the “cost-of-pain” in dollars or time. Clearly define the customer, channel, and revenue model associated with this solution. Describe your market penetration strategy, sales channels, pricing, and strategic partnerships. Industry & market sizing.

Business Plan 283

Business Plan Sweat Equity Exit Strategy Intellectual Property 283

Startup Professionals Musings

MAY 13, 2011

Explain in terms your mother could understand, and quantify the “cost-of-pain” in dollars or time. Clearly define the customer, channel, and revenue model associated with this solution. Describe your market penetration strategy, sales channels, pricing, and strategic partnerships. Industry & market sizing.

Business Plan 290

Business Plan Sweat Equity Exit Strategy Intellectual Property 290

OnlyOnce

JULY 9, 2013

Chapter 2: Defining and Testing the Story…Start Out By Admitting You’re Wrong, A Lean Business Plan Template, Problem, Solution, Key Metrics, Unique Value Proposition and Unfair Advantages, Channels, Customer Segments, Cost Structure and Revenue Streams. Chapter 3: Telling the Story to Your Investors…The Business Plan is Dead.

Startup 95

Startup Advisory Board Elevator Pitch Forecast 95

Startup Professionals Musings

FEBRUARY 13, 2016

The business model has to clearly define who is your customer, market penetration expected, how much customers pay versus total costs and the investment required to sustain cash flow. You need to identify pricing details, sales channels, strategic partners and a customized marketing plan consistent with your industry and target segment.

Sweat Equity 120

Sweat Equity Advisory Board Liquidity Event Startup 120

Steve Blank

AUGUST 27, 2012

He should make sure that there aren’t other parts of the business model (revenue model, pricing, partners, channel, etc.) Finally, I suggested that he find someone he respects on his advisory board, who he was comfortable brainstorming with and would tell him when he has a bad idea. Find a Brainstorm Buddy.

Founder 321

Founder Cofounder Advisory Board Burn Rate 321

Startup Professionals Musings

APRIL 5, 2010

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. It starts with a customer problem or need, and includes proving the technical concept, but starts earlier and goes much further: Quantify problem cost-of-pain first. Talk to domain experts.

Business Model 120

Business Model Advisory Board Angel Investor Channel 120

Gust

AUGUST 5, 2012

Explain in terms your mother could understand, and quantify the “cost-of-pain” in dollars or time. Clearly define the customer, channel, and revenue model associated with this solution. Describe your market penetration strategy, sales channels, pricing, and strategic partnerships. Industry & market sizing.

Business Plan 182

Business Plan Sweat Equity Exit Strategy Intellectual Property 182

Steve Blank

FEBRUARY 12, 2015

You’ll realize you’re ready to exit the Search step when you have customer validation: You’ve found a sales channel that matches how the customer wants to buy and the costs of using that channel are understood. If he already had an advisory board (formal and/or informal), add CEO’s who have been through this phase.

Startup 120

Startup Lean Venture Capital Advisory Board 120

Startup Professionals Musings

APRIL 22, 2010

Explain in terms your mother could understand, and quantify the “cost-of-pain” in dollars or time. Clearly define the customer, channel, and revenue model associated with this solution. Describe your market penetration strategy, sales channels, pricing, and strategic partnerships. Industry & market sizing.

Business Plan 186

Business Plan Exit Strategy Sweat Equity Intellectual Property 186

Startup Professionals Musings

OCTOBER 17, 2018

Assemble a credible inside advisory board and partners. These would include cost of customer acquisition, cost of leads, sales channel, cost of goods, and pricing strategy. Relationships with recognized and influential bloggers, relevant media, and industry analysts are priceless.

Advisory Board 199

Advisory Board Technical Review Metrics Business Model 199

Startup Professionals Musings

FEBRUARY 7, 2015

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. Estimate your costs, including a 50 percent gross margin, as a lower bound on a price. Test your channel and support strategy.

Business Model 120

Business Model Technical Review Advisory Board Software Review 120

Steve Blank

OCTOBER 11, 2016

They didn’t always keep their angel investors informed about the changes they were making and it nearly cost them: We followed every test and experimental process from the get-go but we didn’t tell our investors we were doing that. How could I build a solution that would address those points? If you can’t hear the clip, click here.

Columbus 248

Columbus Entrepreneur Ohio Cofounder 248

Steve Blank

OCTOBER 11, 2016

They didn’t always keep their angel investors informed about the changes they were making and it nearly cost them: We followed every test and experimental process from the get-go but we didn’t tell our investors we were doing that. How could I build a solution that would address those points? If you can’t hear the clip, click here.

Columbus 120

Columbus Entrepreneur Ohio Cofounder 120

Duct Tape Marketing

AUGUST 2, 2023

Key Takeaway: Fractional CMO can be a cost-effective solution for businesses to access top-level marketing expertise without the burden of hiring a full-time executive. Check out JP’s Youtube Channel. In some cases it's budget, so it's a way to get, you know, some strategic thinking at a fraction, uh, of the cost.

Marketing 52

Marketing Social Media Business Model Advisory Board 52

Steve Blank

JULY 29, 2013

(However, in some industries such as life sciences, founders may be tenured professors who are not going to give up their faculty positions, so they often become the head of a startup’s scientific advisory board, but aren’t part of the founding team.). A couple of caveats about founders with “ideas.” FIgure out who you are.

Cofounder 335

Cofounder Advisory Board Customer Development Leadership 335

Startup Professionals Musings

JANUARY 5, 2018

The reality is that successful businesses these days require an equally elegant business model, with the right marketing, delivery channel, price, and target customers, to get real traction. Estimate your costs, including a 50 percent gross margin, as a lower bound on a price. Finalize your channel and marketing strategy.

Product 137

Product Advisory Board Business Model Cofounder 137

mashable.com

AUGUST 20, 2011

The cost is much lower than traditional office space, and you have access to a lot of resources — conference room, printers, scanners, Wi-Fi, snacks, coffees — that you’d otherwise have to pay for all by yourself. . Otherwise, you can do the build-out and eat the costs.

Cofounder 81

Cofounder San Francisco Social Media Startup 81

ReadWriteStart

JUNE 20, 2012

In both physical and Web/mobile channels, earlyvangelists display these common characteristics: They have a problem or need. Moreover, they can be potential advisory board candidates. Web/mobile businesses conduct customer discovery differently from those in the physical channel. They understand they have a problem.

Customer 119

Customer Advisory Board Engineer Cofounder 119

www.rocketwatcher.com

NOVEMBER 8, 2010

Costs Cost per target – targets can be free (organic traffic, internal lists) or paid (from advertising, purchased lists). Cost per prospect – given only a certain percentage of targets become prospects, what is the true cost you are paying for a prospect. Oct, 2010 at 9:39 am A comment and a question.

B2B 42

B2B Metrics Marketing Startup 42

www.vccafe.com

MARCH 11, 2013

tells you how much adwords cost. hire low-cost international engineering talent. Executive / Advisory Board Compensation. VentureHacks on Startup Advisory Boards â?? Roku Channel Store. Find the top ten keywords ranking to your websites. SEMRush â?? SEO and campaign management tool. Clickable â??

Software Review 53

Software Review Technical Review Startup 53