Startup Professionals Musings
SEPTEMBER 16, 2022
These approaches allow your startup to grow more rapidly, save costs, but costly mistakes can lead to business failure. Let’s cut costs by outsourcing all from this point forward.” Some entrepreneurs get outsource-happy to save costs and begin outsourcing everything and anything that lands on their desks.
Startup Professionals Musings
NOVEMBER 26, 2022
One of the myths I often hear as an advisor to many entrepreneurs is that their lifestyle would somehow be better if they could more easily find other people’s money to build their startup. Usually it pays to move a startup slower rather than risk relationships. Many times friends and family have been broken by failed investments.
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Startup Professionals Musings
APRIL 12, 2019
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.
Startup Professionals Musings
JULY 26, 2020
Despite the fact that the number of IPOs (Initial Public Offerings) for startups have continued to stay low, I still hear it touted often as the preferred exit strategy. There are real ongoing costs of maintaining a public company. million in annual recurring costs as a result of being public. Analysts want escalating profits.
Startup Professionals Musings
AUGUST 24, 2022
As a business consultant and angel investor, I often ask for your own assessment of marketing ROI , or customer acquisition cost (CAC). Of course, you need work with partners and channel to quantity their costs and contributions and normalize total results. You have to determine how to share these costs and credit.
Startup Professionals Musings
NOVEMBER 28, 2022
Hiring in any new venture needs to be a structured and high priority task, not the ad hoc informal process I see in many startups that are struggling to grow: Crisis mode hiring rather than planned team growth. I’m not suggesting executive search firms for every startup position, but national recruiting organizations will get better results.
Startup Professionals Musings
SEPTEMBER 13, 2022
The “valley of death” is a common term in the startup world, referring to the difficulty of covering the negative cash flow in the early stages of a startup, before their new product or service is bringing in revenue from real customers. Nevertheless, it’s an option that doesn’t cost you equity. Join a startup incubator.
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