Startup Professionals Musings

DECEMBER 13, 2019

It’s always tempting to think that more product variations will satisfy more customers and lead to new sales. As the business operation and the team grows, regular and effective communication from key personnel is critical. We all know that small businesses mush operate without a cushion, so unrecognized waste can easily lead to death.

Technical Review 306

Technical Review Metrics Social Media Channel 306

Startup Professionals Musings

SEPTEMBER 29, 2018

Waiting until you have something to sell before bringing on a sales and operations staff. Getting a sales contract before manufacturing inventory. For example, a software development startup raising $250,000 from angel investors better be able to operate on $25,000 per month. Social media is not rocket science.

Burn Rate 223

Burn Rate Hockey Stick Startup Salary 223

Startup Professionals Musings

FEBRUARY 9, 2020

The sales professional. A sales fanatic on the founder team helps to contain that risk. The combination of technical insight, founder authority, and sales experience is a hard-to-beat advantage in a competitive market. The operations superstar. These people also have the credibility to attract investors.

Technical Cofounder 308

Technical Cofounder Cofounder Advisory Board Stock Options 308

Startup Professionals Musings

DECEMBER 30, 2020

You alone will never find enough hours in a day to keep with all the challenges of sales, support, and scaling the business, in addition to developing and delivering your solution. You also need the required skills for leadership, planning, operations, and growth, many of which are best acquired from business experience, rather than academia.

Intellectual Property 432

Intellectual Property Entrepreneur Technical Review Angel Investor 432

Startup Professionals Musings

DECEMBER 17, 2013

For starters, here is my selection of some key metrics that every six-sigma joint like GE tracks without thinking, but that too many small businesses haven’t yet formalized: Sales revenue. Sales data needs to be correlated to advertising campaigns, price changes, seasonal forces, competitive actions, and other costs of sales.

Metrics 252

Metrics Technical Review Retention Acquisition 252

Startup Professionals Musings

OCTOBER 5, 2014

Waiting until you have something to sell before bringing on a sales and operations staff. Getting a sales contract before manufacturing inventory. For example, a software development startup raising $250,000 from angel investors better be able to operate on $25,000 per month. Social media is not rocket science.

Burn Rate 262

Burn Rate Hockey Stick Entrepreneur Salary 262

Startup Professionals Musings

JULY 26, 2020

Public ownerships usually lends prestige and credibility to your sales, marketing, and acquisition efforts, but it may work counter to your vision of saving the world. Executives shoulder new risks for insider trading and employment practices. The public company corporate culture may not fit you and your startup.

Cost 319

Cost IPO Exit Strategy Initial Public Offering 319

Startup Professionals Musings

JULY 29, 2019

Although their focus was primarily on the sales team, I believe that many of their key success inhibitors, including the following, apply equally well to all functional areas of your team: Some team members have an entitlement mindset. Trying to operate with too much or not enough process.

Leadership 217

Leadership Analytics Hiring Operations 217

Startup Professionals Musings

JULY 16, 2017

Very few entrepreneurs have the range of skills and experience to be the solution creator as well as business creator, or operational as well as sales leader. Operate with a comparable level of integrity. Look at the big picture first of development, finance, and marketing/sales.

Partner 140

Partner Software Review CTO Hire Cofounder 140

Startup Professionals Musings

APRIL 12, 2019

Even in your early days, before you break even and have to pay taxes on profits, various governmental organizations will be after you for payroll taxes, sales taxes, unemployment, and a host of fees, licenses, and permits. Then you need an expensive server and network for sharing and remote access.

Cost 264

Cost Founder Software Review Startup 264

Startup Professionals Musings

JULY 17, 2019

As a business advisor, when I bring this up, at best I will hear the defense that you are focused on the strategy of the moment, such as such as how to increase sales, or reach a new market. Yet I’m convinced that we are operating at an exciting time, standing on the edge of new and exciting opportunities.

Technical Review 218

Technical Review Revenue Analytics Metrics 218

Startup Professionals Musings

APRIL 28, 2014

A few other credible ones would include Chairman of the Board (COB), Chief Operating Officer (COO) and Chief Marketing Officer (CMO). Chief Sales Officer (VP Sales). See this anecdote by Steve Blank on how a hotshot sales executive can sink your startup. The most common ones I see and salute are CEO, CFO, and CTO.

CTO Hire 252

CTO Hire Fractional CTO Angel Investor Public Relations 252

Startup Professionals Musings

SEPTEMBER 14, 2016

Waiting until you have something to sell before bringing on a sales and operations staff. Getting a sales contract before manufacturing inventory. For example, a software development startup raising $250,000 from angel investors better be able to operate on $25,000 per month. Social media is not rocket science.

Burn Rate 120

Burn Rate Hockey Stick Startup Salary 120

Startup Professionals Musings

OCTOBER 16, 2023

There is no black magic involved in predicting the future, if you use these four simple steps, with my basic rules of thumb to keep you on the right track: Determine your margin on sales. Forecast sales-volume expectations. Forecast sales-volume expectations. Per-unit cost less cost of goods sold is your gross profit or margin.

Forecast 290

Forecast Burn Rate Widget Business Plan 290

Startup Professionals Musings

OCTOBER 25, 2019

To make personalization affordable, leaders must use available technologies but not market them, create flexible operations, and reduce waste. Nordstrom “remembers” the sizes of customers, and Chanel follows up sales with handwritten notes from associates. In many cases, a thoughtful gesture is more than enough. There is no going back.

Customer 136

Customer Indiana Technical Review Revenue 136

Startup Professionals Musings

FEBRUARY 22, 2013

A few other credible ones would include Chairman of the Board (COB), Chief Operating Officer (COO) and Chief Marketing Officer (CMO). Chief Sales Officer (VP Sales). See this anecdote by Steve Blank on how a hotshot sales executive can sink your startup. The most common ones I see and salute are CEO, CFO, and CTO.

CTO Hire 244

CTO Hire Fractional CTO Startup Angel Investor 244

Startup Professionals Musings

MARCH 10, 2023

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Marketing, sales, support, and service operations. Solution development and delivery.

Exit Strategy 288

Exit Strategy Metrics Operations Cost 288

Startup Professionals Musings

MAY 30, 2022

Switch your attention from product development to sales. Second-stage growth usually requires a formal sales model, an experienced and disciplined sales team, and a well-defined process to meet your new goals and demands. Separate marketing from sales for further leverage. Optimize the total customer experience.

Mezzanine 368

Mezzanine Private Equity Bandwidth Metrics 368

Startup Professionals Musings

NOVEMBER 4, 2019

Even a non-profit needs income to operate. I recommend a ten-slide pitch to start, reviewed by friends and advisors, to be expanded to a ten-to-twenty-page business plan with opportunity sizing, cost and price details, competitors, marketing and sales strategy, financial projections, and resources required.

Intellectual Property 235

Intellectual Property Elevator Pitch Harvest Technical Review 235

Startup Professionals Musings

DECEMBER 2, 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. A target market is the group of customers that the startup plans to attract through marketing and sales their product or service. Sales/Marketing.

Business Model 256

Business Model Distribution Viral Green 256

Startup Professionals Musings

OCTOBER 18, 2023

New startup founders keep all the operating metrics they need in their head. Even if you don’t have a formal board of directors, it pays to have trusted advisors who will give you regular unbiased feedback on your team strengths and weaknesses, financial and operating ratio norms, and an external view of current company valuation issues.

Exit Strategy 248

Exit Strategy Valuation Acquisition Metrics 248

Startup Professionals Musings

FEBRUARY 18, 2018

The sales professional. A sales fanatic on the founder team helps to contain that risk. The combination of technical insight, founder authority, and sales experience is a hard-to-beat advantage in a competitive market. The operations superstar. These people also have the credibility to attract investors.

Technical Cofounder 144

Technical Cofounder Cofounder Advisory Board Startup 144

Startup Professionals Musings

APRIL 7, 2017

Entrepreneurs always work hard to create an innovative product or service, but often count on standard seller marketing for sales. Customers will tell you things when being interviewed, such as their need to improve operational workflow , which they will never tell you while you are selling to them.

Small Business 147

Small Business Revenue Technical Review Business Model 147

Startup Professionals Musings

JUNE 11, 2014

The sales professional. A sales fanatic on the founder team helps to contain that risk. The combination of technical insight, founder authority, and sales experience is a hard-to-beat advantage in a competitive market. The operations superstar. These people also have the credibility to attract investors.

Technical Cofounder 245

Technical Cofounder Cofounder Advisory Board Startup 245

Startup Professionals Musings

OCTOBER 23, 2021

This is not just sales traction, but a proper balance between resources, product, and customers. Too many early-stage companies are so desperate for customers that they operate in a frantic and random sales mode. Selling too early triggers customer defenses and drives them away. A startup must gain balanced traction.

Early Stage 379

Early Stage Vertical Sales Global 379

Startup Professionals Musings

DECEMBER 1, 2010

A few other credible ones would include Chairman of the Board (COB), Chief Operating Officer (COO) and Chief Marketing Officer (CMO). Chief Sales Officer (VP Sales). See this anecdote by Steve Blank on how a hotshot sales executive can sink your startup. The most common ones I see and salute are CEO, CFO, and CTO.

CTO Hire 227

CTO Hire Fractional CTO Startup Angel Investor 227

Startup Professionals Musings

FEBRUARY 5, 2021

There is no black magic involved in predicting the future, if you use these four simple steps, with my basic rules of thumb to keep you on the right track: Determine your margin on sales. Forecast sales-volume expectations. Forecast sales-volume expectations. Per-unit cost less cost of goods sold is your gross profit or margin.

Forecast 369

Forecast Burn Rate Startup Widget 369

Startup Professionals Musings

JANUARY 9, 2021

New startup founders keep all the operating metrics they need in their head. Even if you don’t have a formal board of directors, it pays to have trusted advisors who will give you regular unbiased feedback on your team strengths and weaknesses, financial and operating ratio norms, and an external view of current company valuation issues.

Exit Strategy 434

Exit Strategy Valuation Acquisition Metrics 434

Startup Professionals Musings

JULY 30, 2021

When sales fall off, you need to dig deep for the “why,” rather than just assuming the price needs to go down. In addition to total sales, you need to look at categories and trends at lower levels. Now is the time to take a hard look at your own operation. Scan for unmet needs to match new products.

Marketing 405

Marketing Flash Social Media Metrics 405

Startup Professionals Musings

FEBRUARY 5, 2023

It is arguably sustainable with a proven value proposition and business model for customers, and operations processes that work. This is the stage where most entrepreneurs exit, get pushed out, or learn to operate as full-time business owners. Growth and scaling stage.

Matching 270

Matching Entrepreneur Startup Seed Stage 270

Startup Professionals Musings

APRIL 11, 2022

Popular revenue models today include recurring subscription charges, licensing, as well the traditional sale or lease model. Every team needs to understand how their activities relate to customer revenue. Key activities.

Business Model 334

Business Model Intellectual Property Angel Investor Channel 334

Startup Professionals Musings

JUNE 7, 2020

Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Marketing, sales, support, and service operations. Solution development and delivery.

Entrepreneur 328

Entrepreneur Exit Strategy Metrics Operations 328

Startup Professionals Musings

AUGUST 7, 2023

Foreign markets typically have less information available and more variability in sales estimates, which is a setup for failure. Evaluate the political climate and operational processes. The most common mistake is overestimating a particular market’s potential, based on your domestic context. Assume large and frequent economic swings.

Global 276

Global Algorithm Business Model Social Media 276

Startup Professionals Musings

SEPTEMBER 1, 2023

The challenge is to transform and hardwire your entire team to think in these terms, rather than the default focus on distinct towers of product quality, closing the sale, or fixing a complaint. A culture of providing great customer experiences doesn’t happen by chance, and it requires more than just excellent operational procedures.

Customer 265

Customer Leadership Global Demand 265

Startup Professionals Musings

MAY 27, 2016

Investors expect to hear annual revenues, average margins, customer acquisition costs and sales pipelines. This should include financial, marketing, sales, and operations, all with a record of working together in setting milestones, managing results, and focusing on the market opportunity.

Technical Review 134

Technical Review Intellectual Property Due Diligence Angel Investor 134

Startup Professionals Musings

APRIL 7, 2021

If you have had to pivot from the consumer market to enterprise customers, that requires new pricing models and new sales channels. Re-evaluate processes as they are today and set metrics to better represent the new sales, operational, and service needs. Communicate, communicate, communicate.

Social Media 357

Social Media Framework Partner Metrics 357

Startup Professionals Musings

NOVEMBER 3, 2012

Entrepreneurs always work hard to create an innovative product or service, but often count on standard seller marketing for sales. Integrate the customer buying process into your support operation. But the reality is that sellers are no longer in charge of the customer buying process.

Technical Review 234

Technical Review Business Model Revenue Social Media 234