Remove new
article thumbnail

8 Priorities When Offering A New Product Or Service

Startup Professionals Musings

Every one of you business owners I know periodically introduces new products and services to sustain growth, fight off competitors, or take advantage of new technologies. The cost of any new product these days must include education and rollout marketing, perhaps equal or greater than the development costs.

Product 354
article thumbnail

The Demographics Of New Venture Founders Are Changing

Startup Professionals Musings

Some people are calling business ownership the ‘new mid-life crisis’ for the 72 million-strong demographic once thought to be over the hill. With longer life expectancies and greater health in later life, older generations are moving to start new firms -- and mentor young entrepreneurs. They are becoming the new early adopters.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Financing Alternatives For Your Next New Venture

Startup Professionals Musings

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. Leave the world of new computer chips and new drugs to the big companies, and people with deep pockets.

Finance 320
article thumbnail

8 New Business Keys To Success For Real Entrepreneurs

Startup Professionals Musings

In my view, starting a new business has never been easier, and according to reports from the Kauffman Foundation , the numbers are here to show it. The rate of new entrepreneurs increased between 2013 and 2021, from 280 to 360 out of 100,000 of the adult population. Using new tools for recruiting key players and advisors.

article thumbnail

7 Ethical Fictions Lead Many New Entrepreneurs Astray

Startup Professionals Musings

New entrepreneurs tend to focus only on getting the product right, and assume that the right culture and ethics will come later simply by hiring good people. In fact, they need an early focus on developing their moral compass, as well as setting the right ethical tone. Ethical decisions are seldom simple.

article thumbnail

6 Strategies To Anticipate And Survive New Entrants

Startup Professionals Musings

Based on my years of experience as a business consultant, I’m convinced that most business leaders are so busy with day-to-day issues that they have no time to be proactive with new innovation and staving off future competitors. Thus they are blindsided and try to react quickly when a new competitor starts stealing customers.

Metrics 178
article thumbnail

10 Keys To Raising Your New Venture Funding Potential

Startup Professionals Musings

This means adapting to social trends, new technologies, economic conditions, regulatory requirements, and worker demographics. The most valuable organizations are able to govern their work environment through innovation, to cope with the increasing pace of change in culture and the marketplace.