Gust

APRIL 13, 2014

If one of your core values is exceeding your customer expectations for quality and service, and your potential partner ascribes to the low cost, high profit mantra, a successful partnership is highly unlikely over the long-term. It doesn’t take long to sense someone’s real commitment, or vision and desired outcome of a joint project.

Partner 179

Partner Software Review CTO Hire Fractional CTO 179

Gust

JUNE 8, 2023

You should know EVERYTHING about your business, product, customers and competition. You should know every metric regarding customer acquisition, conversion and retention. It sounds obvious, but the majority of entrepreneurs who pitch me have obviously never thought through many of the major issues surrounding their companies.

Retention 202

Retention Acquisition Metrics Business Model 202

Gust

AUGUST 17, 2014

Keep these balanced and aligned between people (customers, employees) and process (quality, service, revenue), and keep the scope realistic (eliminating world hunger is too broad). Your team, customers, and investors will all be confused, leading to a lose-lose situation. Limited goals and priorities. Segment the opportunity.

Entrepreneur 182

Entrepreneur Technical Review Angel Investor China 182

Gust

NOVEMBER 14, 2011

For no good reason, this process seems shrouded in mystery, when in fact it is nothing more than a final integrity check on all aspects of your business model, team, product, customers, and plan. A good investor can do a lot to help a company, but can’t make customers buy products. Market need and size validation.

Technical Review 152

Technical Review Due Diligence Intellectual Property Private Equity 152

Gust

JUNE 17, 2012

Use this approach before you have a real valuation, a real product, or any real customers. Commit to a major customer. Find a customer who would benefit greatly from getting your product first, and be willing to advance you the cost of development. Consider licensing and “white labeling.”.

Technical Review 164

Technical Review Bootstrapping Venture Capital Incubator 164

Gust

SEPTEMBER 16, 2012

In today’s world of distributed data, global reach, and powerful incursion technologies, how do I protect my data and my customers’ data? Customers are bombarded from all angles today for information to improve their user experience, yet they need to protect highly personal things. User privacy.

Technology 162

Technology Agile Architecture Distribution 162

Gust

NOVEMBER 8, 2023

Even in this age of videos and text messages, the quickest way to kill your startup dream with investors, business partners, or even customers, is embarrassingly poor writing.

Startup 91

Startup Video Community Business Plan 91

Gust

AUGUST 7, 2023

From your vantage point as the company’s leader—and perhaps its only employee—you can readily track the arrival and departure of customers, the growth or decline of revenues, and changes in profitability as costs rise or fall. When your startup is very small, it’s fairly easy to gauge its health.

Analytics 91

Analytics Metrics Revenue Employee 91

Gust

APRIL 27, 2014

Customer service and support. Whether you provide an online subscription service, or sell products in a store, you need to consistently and economically sell your product and collect revenue to survive. Here you will likely need to train others to help you, so more detail may be required in this process.

Startup 187

Startup Institutional Investors Angel Investor Bootstrapping 187

Gust

JULY 15, 2012

Potential to meet new partners, customers, and friends. Here a few potential benefits that you should highlight to your best candidates: Opportunity for crash course in new technologies and new business initiatives. Sharing of their experience with next generation of entrepreneurs. Meet new contacts that might help them in their own business.

Advisory Board 178

Advisory Board Technical Review Startup Software Review 178

Gust

NOVEMBER 7, 2011

Social media is about maintaining a dynamic conversation between you and your customers. Use social media to engage customers in new ways and sharpen your brand. Use social media to engage customers in new ways and sharpen your brand. Done right, it’s not a one-off campaign by a handful of staff; it’s a long-term commitment.

Social Media 125

Social Media Media Startup Curation 125

Gust

NOVEMBER 8, 2022

You can’t succeed in business without an operational model that delivers value to customers at a reasonable price, with an underlying cost that allows you to make a profit.

Business Model 91

Business Model Green Revenue Operations 91

Gust

MARCH 23, 2014

In fact, damage to reputation and brand has moved up to #4 from #6 in the Top 10 risks identified in Aon’s 2013 Global Risk Management Risk Ranking , moving ahead of business interruption and failure to innovate to meet customer needs in 2011.

Reputation 178

Reputation Affiliate Technical Review Social Network 178

Gust

AUGUST 16, 2023

Startup business insurance protects your company, investors, board, property, and customers from lawsuits. In the fast-paced world of startups with ever-growing risk, having insurance in place can mean the difference.

Startup 70

Startup Design Cost Customer 70

Gust

DECEMBER 15, 2013

When you have invented a new technology, you need expensive models and testing, including samples for potential customers. That’s not the same as instilling discipline in a larger organization, where most the challenge is people. You need a prototype. You need specialized equipment.

Bootstrapping 183

Bootstrapping Sweat Equity Entrepreneur Technical Review 183

Gust

NOVEMBER 4, 2022

It describes how the business creates value for customers, delivers that value to them, and captures a portion of the value for its owners. A business model is the idea that underlies a successful business. Every successful business, no matter how large or small, complex or simple, operates according to a business model that makes sense. (Of

Business Model 91

Business Model Operations Entrepreneur Customer 91

Gust

OCTOBER 5, 2014

Look at previous company results, and listen for evidence of self-sufficiency, problem solving, and a thorough understanding of your product, technology, customers, and the market. For startups, the time to do the people filtering and fit analysis is before the hire. Invested Interests corporate executive entrepreneur startup'

Startup 165

Startup Early Stage Technical Review .Net 165

Gust

JANUARY 20, 2013

Too many businesses haven’t noticed that we have come full-circle, where mass customization is required now to win. Customers have come to expect immediate and tailor-made responses to their needs, and the businesses that fail to deliver quickly fall behind. Leverage the game changers to gain the speed you need.

Startup 180

Startup Social Media Cloud Customer 180

Gust

AUGUST 24, 2014

Obviously, it must be grounded by the characteristics of the market and customers you choose to serve, the pricing model of existing competitors, and a strategy you believe is consistent with your future products and direction. It’s great for customers, but not for startups, unless you have deep pockets. Freemium model. Value model.

Revenue 184

Revenue Startup Retention Business Model 184

Gust

SEPTEMBER 14, 2014

Startup leaders recognize the need for strong credentials to demonstrate competence to team members, customers, and investors. Otherwise, customers and investors will see new initiatives as merely change rather than progress. Customers want to see results. These are the hard parts. Creating shared context. Committing to action.

Technology 174

Technology Startup Leadership Global 174

Gust

DECEMBER 6, 2011

Depending on the company, important milestones may include being granted a patent, receiving a 510k FDA approval, completing a prototype, receiving positive customer feedback on a beta test, achieving first revenues, hitting the goal in annual revenues of $1 million , etc.

Angel Investor 179

Angel Investor Venture Capital Valuation Software Engineering 179

Gust

NOVEMBER 30, 2014

Think differently about your customers. Jobs made Apple stores the gold standard in customer service. The Apple store has become the world’s best retailer by introducing simple innovations any business can adopt to make deep, lasting emotional connections with their customers. Sell dreams, not products. Master the message.

Design 194

Design Entrepreneur Web Technology 194

Gust

MARCH 30, 2014

The name of your business has a tremendous impact on how customers and investors view you, and in today’s small world, it’s a world-wide decision. When creating a name, stay with words that can easily be spelled by customers. Make your business name one that customers can pronounce and remember easily. Avoid unusual spellings.

Naming 174

Naming Algorithm Cofounder .Net 174

Gust

SEPTEMBER 7, 2014

It’s a key skill for success in every business role, from accountant to customer support. Whether it’s a frustrated employee, or a dissatisfied customer, what you first hear is usually someone yelling with emotion or talking so fast that you don’t know what they are talking about. Your team and your customers will see right through it.

Startup 161

Startup Entrepreneur Customer Operations 161

Gust

JULY 20, 2014

As an entrepreneur, your personal integrity is critical for getting and keeping the support of investors and team members, and your company’s integrity is critical for getting and keeping customers and vendors. As a company, if your customer feels you did not meet your product quality commitment, your company loses integrity.

Entrepreneur 166

Entrepreneur Leadership Customer Business Plan 166

Gust

AUGUST 9, 2014

To this date, no company has been able to take control of the internet as a whole because no company has been able to develop a customer base that is loyal enough to pursue the majority of their internet needs through one company. These companies do not have a loyal customer base, leaving an opportunity for our company. Contestant B.

Startup 131

Startup Database Open Source Equity 131

Gust

DECEMBER 7, 2014

At least wait until later, when you ready to scale, and have some “leverage” based on a proven business model, some real customers, and real revenue. Fundraising and investor governance are never-ending tasks, which will take real focus away from building the right product and finding real customers.

Bootstrapping 191

Bootstrapping Entrepreneur Startup Burn Rate 191

Gust

JUNE 23, 2014

Feedback from your blog will tell you quickly whether anyone agrees with your assessment, and whether you have a customer base waiting. Cultivate early customers. It’s never too early to start a dialog with customers, as long as you don’t mislead them about where you are in the cycle. Find potential partners.

Startup 174

Startup Cofounder Social Media SEO 174

Gust

MARCH 9, 2014

Do something unique to get customer attention. This step requires thought because you need to identify what can set you apart from your competitors and how to retain customers. Promotions that appeal to the wrong customers won’t help you. Customers who enjoy doing business with you are more than happy to spread the word.

Marketing 146

Marketing SEM Viral Social Media 146

Gust

FEBRUARY 10, 2013

For most new high-tech products, the first customers are always “early adopters.” I see two pitfalls with any concerted focus on early adopters; first, the size of this group may not be as large as you think, and secondly, their feedback may lead you directly away from your real target market of mainstream customers.

Marketing 178

Marketing Engineer Technology Product 178

Gust

JULY 13, 2014

In later-stage businesses, entitlement is evident when employees treat customers with indifference, or feel they are entitled to their job by merely “showing up for work.” “I did my job, so don’t expect me to jump when customers complain.” I give my all to this company, so I deserve healthcare coverage.”

Later Stage 153

Later Stage Early Stage Employee Equity 153

Gust

FEBRUARY 22, 2014

Instead, it is our eight years of indefatigable relationship and customer building with large segments of the world’s early stage finance industry.

Belarus 107

Belarus Kazakhstan Accredited Investor Portugal 107

Gust

JUNE 24, 2012

As an entrepreneur, you should assume none of your customers is like you, yet I find that most entrepreneurs assume just the opposite. Customers don’t have your technical base, the passion, and interest in your solution. By habit, people market to customers like themselves, because they know what they like and need.

Marketing 136

Marketing Database Social Media Media 136

Gust

NOVEMBER 2, 2011

For example, some investors would not fund a company without at least a minimum of customer feedback or intellectual property. I have several comments on the Berkus Method: This is a very useful method and should be in an investor’s valuation toolbox. It is good to establish some triggers for fundable companies.

Valuation 79

Valuation Pre-Money Valuation Intellectual Property Southern California 79

Gust

AUGUST 5, 2012

Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. This is not the place for a detailed product specification, but an explanation of how and why it works, including a customer-centric quantification of the benefits. Solution and benefits. Focus is the keyword here.

Business Plan 182

Business Plan Sweat Equity Exit Strategy Intellectual Property 182

Gust

OCTOBER 21, 2012

Your value chain consists of customers, partners, vendors, internal systems, and your own team. This requires executives and a team that understands the parameters, and is focused on customers, quality, and continuous improvement. Communicate effectively with the team and customers. Facilitate the power of your team.

Architecture 162

Architecture Startup Washington Operations 162

Gust

OCTOBER 31, 2011

Obviously we can find many critical success factors, like finding and retaining high-value customers, which apply to companies that are product centric or services centric. Customers don’t like people who don’t show their passion and love for the job. . Customers don’t like to see you learning on the job or outsourcing.

Angel Investor 143

Angel Investor Venture Capital Networking Partner 143