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5 Startup Cost Realities Most Founders Underestimate

Startup Professionals Musings

Image via Flickr by Phil Gyford Starting a new venture still costs real money, even though the entry price has come down dramatically in last few decades. For example, I come from a software background, and back in the early PC days, it could easily cost half a million dollars for a team of professionals to produce a commercial product.

Cost 264
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7 Risks Of Not Leveraging Team Member Data Analytics

Startup Professionals Musings

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. Almost any startup can start with Excel, and move to open-source data analysis tools, including Python or RStudio.

Analytics 303
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8 Tactics To Make You A Fearless Business Innovator

Startup Professionals Musings

As a potential investor, I always think of the high rate of failure of disruptive technologies, due to the longer learning curve of customers, infrastructure change consistently required, and higher marketing costs. If you can’t measure it, you can’t manage it. Be sure to hire and cultivate new talent with the right mindset.

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9 Success Principles To Propel Your Next New Venture

Startup Professionals Musings

This reduces the cost of customer acquisition, allows easy upgrades for service and new features, and improves customer loyalty in the face of new competitors in the market. Minimize permanent hiring and customized operational facilities. Every new business has unexpected pivots and adjustments, and outsourcing is easier to manage.

Merger 386
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7 Risks To Avoid In Your Business People Management

Startup Professionals Musings

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. Almost any startup can start with Excel, and move to open-source data analysis tools, including Python or RStudio.

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Why You Need Tools And Analytics For Employee Metrics

Startup Professionals Musings

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. Almost any startup can start with Excel, and move to open-source data analysis tools, including Python or RStudio.

Analytics 245
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Recession ahead? Follow these Money Saving Tips for your Workplace

ReadWriteStart

Review Your Software Subscriptions “Reviewing your software subscriptions can be a quick way to reduce costs. Remove any redundant software that adds to your costs without providing tangible benefits. Look for discounts and group rates to reduce costs. ” — Carl Jenson, Founder of Compare Bank.