Startup Professionals Musings

MAY 29, 2019

A platform is a business model and capability that can be accessed and customized by external users. Create and practice an obsession over customers. Make sure everyone knows it’s their job to maintain empathy and exceed customer expectations. Institute deep metrics measuring all aspects of the customer experience.

Artificial Inteligence 222

Artificial Inteligence Agile Technical Review Demand 222

Steve Blank

OCTOBER 15, 2019

Once upon a time every great organization was a scrappy startup willing to take risks – new ideas, new methods, new customers, targets, and mission. They’ll use government regulation and lawsuits to keep out new entrants with more innovative business models. Companies Run on Process. are obstacles for innovation.

Government 320

Government Technical Review Acquisition Metrics 320

Up and Running

SEPTEMBER 19, 2018

Write your business plan and develop your business model with this in mind so you can avoid these issues. . You can choose from a few different types of business plans depending on your needs. If you’re seeking investment, you need a traditional business plan. Target market: Who is your ideal buyer? Be specific.

Business Plan 154

Business Plan Technical Review Forecast Software Review 154

Startup Professionals Musings

JANUARY 22, 2021

How do you convince investors that your business model will really work, before you have a revenue stream that exceeds your expenses? Even if you are bootstrapping your business, and you are the only investor, you should be asking yourself the same question. Customer support is more than handling exceptions.

Business Model 414

Business Model Angel Investor Bootstrapping Revenue 414

Startup Professionals Musings

JULY 17, 2019

He outlines six dimensions of a winning business strategy, with some practical, research-based steps that I like, to focus on in achieving extraordinary results: Above all, deliver an exceptional total customer experience. This requires constant study of what your customers value, what competitors offer, and your target market.

Technical Review 218

Technical Review Revenue Analytics Metrics 218

Startup Professionals Musings

APRIL 21, 2023

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Business risks are not just development risks. Business risks are not just development risks. Set milestones and meet them. Ownership. Value creation. Accountability.

Intellectual Property 343

Intellectual Property Metrics .Net Social Network 343

Startup Professionals Musings

AUGUST 27, 2014

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Implement a modern real business model.

Startup 283

Startup Forecast Stock Options Technical Review 283

Steve Blank

MARCH 31, 2014

Metrics like Return on Net Assets, Return on Capital and Internal Rate of Return are the guiding stars of the board and CEO. As Harvard professor Clayton Christensen noted, these efficiency metrics provided wise guidance for times when capital was scarce and raising money was hard. Act Like a Startup.

Private Equity 329

Private Equity Metrics China Intellectual Property 329

Startup Professionals Musings

FEBRUARY 17, 2018

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Implement a modern real business model.

Forecast 161

Forecast Stock Options Technical Review Metrics 161

ConversionXL

SEPTEMBER 6, 2013

The most common mistake startups make is assuming they can operate the same way big companies do, and expect success with little to no feedback from potential customers. A corporation like Starbucks could pick locations by throwing a dart at a map and know they’ll at least break even with a new location and mediocre customer service.

Customer Development 126

Customer Development Conversion Developer Customer 126

Both Sides of the Table

OCTOBER 10, 2011

This makes their business types very different. Some customer segments value the DVD business and these may be more price sensitive. Some customer segments value the convenience of instantly available films. They are potentially different business models. We need video reel to show customers that you care.

Customer 287

Customer Technical Review Caching PR 287

Up and Running

AUGUST 24, 2020

Driven by job cuts and budget reductions urging businesses to hire more freelancers , online freelancing platforms will enable companies to tap into expanded pools of global talent and hire qualified workers. But there are plenty of cost-saving, productivity and even hiring benefits that make remote work an attractive option.

Technical Review 131

Technical Review Analytics Forecast Artificial Inteligence 131

YoungUpstarts

JANUARY 7, 2018

The digital revolution is disrupting the traditional business model for small and medium businesses (SMBs). The traditional advantages of small businesses over corporations are personalized service and an inventory of niche products tailored to their local market. by Humberto Farias, CEO and co-founder at Concepta.

Artificial Inteligence 164

Artificial Inteligence Analytics SCRUM Cofounder 164

YoungUpstarts

JUNE 4, 2019

A well-developed product architecture helps a startup to achieve rapid market/product fit by successfully appealing to customers (users). Vitally, startup teams must be absolutely certain that both customer and market validation have been achieved before declaring market/product fit. This is quite the balancing act.

Framework 127

Framework Architecture Cleveland Early Stage 127

Startup Professionals Musings

DECEMBER 12, 2022

In fact, I believe the majority of true entrepreneurs are not interested in this new role, and jump ship quickly by hiring an experienced CEO or merging with another company, to start their next entrepreneurial effort. That means making sure the right people are hired, trained, and in the right place at the right time.

Startup 343

Startup Metrics Hiring Leadership 343

YoungUpstarts

MAY 24, 2019

A well-developed product architecture helps a startup to achieve rapid market/product fit by successfully appealing to customers (users). Vitally, startup teams must be absolutely certain that both customer and market validation have been achieved before declaring market/product fit. This is quite the balancing act.

Framework 113

Framework Architecture Cleveland Early Stage 113

Startup Professionals Musings

OCTOBER 20, 2023

Networking to build and maintain positive relationships with the right people outside your company is something you can’t forget in the rush to get your new business going. Potential customers these days rely more and more on name recognition for credibility and new brand adoption. Put operational systems and metrics in place early.

Marketing 290

Marketing Leadership Differentiation Equity 290

www.forentrepreneurs.com

FEBRUARY 2, 2010

Blog About Log in Register Startup Killer: the Cost of Customer Acquisition In the many thousands of articles advising entrepreneurs on what they have to focus on to build successful startups, much has been written about three key factors: team, product and market, with particular focus on the importance of product/market fit.

Acquisition 103

Acquisition Cost Customer Entrepreneur 103

Startup Professionals Musings

OCTOBER 31, 2022

It’s important to remember that your passion for a new idea needs to be supported by market research and customer feedback , before you will get the credibility and support you expect to work at this stage. If your relish the challenges of creating an innovative solution or business model, then this is the type of work you must seek.

Metrics 272

Metrics Early Stage Finance Programming 272

Startup Professionals Musings

JULY 25, 2020

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Business risks are not just development risks. Business risks are not just development risks. Set milestones and meet them. Ownership. Value creation. Accountability.

Intellectual Property 360

Intellectual Property Social Network Metrics .Net 360

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. Show that you have a process to hire, fire, and train others as required. Customer receivables collection and vendor payments.

Exit Strategy 288

Exit Strategy Metrics Operations Cost 288

OnlyOnce

DECEMBER 1, 2021

As startups scale, they are likely to hire a more senior accountant, maybe an AR/AP/Collections staff member, or even a Controller or VP Finance. Another sign that you need to hire a full-time CFO comes in the form of things you can’t answer. Sometimes a founder or a founder’s spouse even steps in on this front.

Hiring 117

Hiring Cap Table Finance Equity 117

Startup Professionals Musings

APRIL 20, 2015

How do you convince investors that your business model will really work, before you have a revenue stream that exceeds your expenses? Even if you are bootstrapping your business, and you are the only investor, you should be asking yourself the same question. Customer support is more than handling exceptions.

Business Model 120

Business Model Angel Investor Startup Bootstrapping 120

Startup Professionals Musings

SEPTEMBER 9, 2015

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Implement a modern real business model.

Forecast 120

Forecast Startup Stock Options Technical Review 120

Gust

APRIL 27, 2014

This will include the first version of many critical processes that can be split out later, including market opportunity, requirements, product definition, business model, sales process, and organization. Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones.

Startup 187

Startup Institutional Investors Angel Investor Bootstrapping 187

Hearpreneur

JANUARY 25, 2023

. #1- Virtual assistance Photo Credit: Abdul Saboor It is my opinion that the need for virtual assistants is great since there is such a high demand for new businesses and there is such a large increase in the number of new enterprises opening their doors. With time you can hire local artisans to expand your business.

Software Review 118

Software Review Technical Review Artificial Inteligence Entrepreneur 118

Startup Lessons Learned

SEPTEMBER 22, 2008

Lessons Learned by Eric Ries Monday, September 22, 2008 The three drivers of growth for your business model. Master of 500 Hats: Startup Metrics for Pirates (SeedCamp 2008, London) This presentation should be required reading for anyone creating a startup with an online service component. Choose one.

San Francisco 167

San Francisco CPA SEM CTO Hire 167

NZ Entrepreneur

SEPTEMBER 29, 2021

experiments to build a product, find customers, test business models and hire amazing people. Creating this value is anchored in finding a repeatable, scalable business model. As with all boards, compliance is about building a business that meets its legal obligations. Risk and reward. Compliance.

Technical Review 88

Technical Review Software Review New Zealand Due Diligence 88

Startup Lessons Learned

APRIL 14, 2009

Lessons Learned by Eric Ries Tuesday, April 14, 2009 Validated learning about customers Would you rather have $30,000 or $1 million in revenues for your startup? This may sound crazy, coming as it does from an advocate of c harging customers for your product from day one. Every board meeting, the metrics of success change.

Customer 167

Customer San Francisco Lean Hockey Stick 167

A Smart Bear: Startups and Marketing for Geeks

JANUARY 13, 2015

Often your best estimate of any metric or market behavior or business model component is at best accurate within a power of ten, for example “expected conversion rate between 0.5% Their product has a few usage tiers; on average a customer spends $50/mo. So what can be shifted?

Business Model 120

Business Model Affiliate Startup Bootstrapping 120

Steve Blank

MARCH 17, 2020

If you’re running a startup or small business, your first priority (after your family) is keeping your employees and customers safe. But next the question is, ‘What happens to my business?”. The questions every startup or small business CEO needs to ask now are: What’s my Burn Rate and Runway? What will my investors do?

Burn Rate 436

Burn Rate Startup Valuation Sales Cycle 436

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. Show that you have a process to hire, fire, and train others as required. Customer receivables collection and vendor payments.

Entrepreneur 328

Entrepreneur Exit Strategy Metrics Operations 328

Startup Professionals Musings

MARCH 15, 2020

In fact, I believe the majority of true entrepreneurs are not interested in this new role, and jump ship quickly by hiring an experienced CEO or merging with another company, to start their next entrepreneurial effort. That means making sure the right people are hired, trained, and in the right place at the right time.

Startup 314

Startup Metrics Hiring Leadership 314

Startup Professionals Musings

MAY 1, 2019

Don’t get me wrong, it’s always great to see that first surge of customers, but that’s just the beginning of your work. With the real data from that surge, you need to take a hard look at business model realities, cost of customer acquisition, inventory costs, and other key metrics.

Silicon Valley 215

Silicon Valley Bankruptcy Metrics Valuation 215

Up and Running

SEPTEMBER 17, 2014

Yet you might be surprised how easily business owners are stumped by questions like these. That’s why we asked nine members from Young Entrepreneur Council (YEC) what metrics all founders should be aware of — always. Lifetime Customer Value. How much do you earn per customer? No Specific Metric.

Metrics 146

Metrics Burn Rate Entrepreneur Forecast 146

David Teten

APRIL 1, 2021

Similarly, customer introductions are invaluable in the early days, but become less valuable once a company has a fully-formed go to market function.”. For instance, tracking ‘months-of-runway’ combined with the month-over-month change to that metric allows us to rapidly identify companies that may be distressed. Customer Development.

Private Equity 78

Private Equity Venture Capital Portfolio Equity 78

Up and Running

NOVEMBER 22, 2017

In many cases, businesses are started by people with years of corporate experience. They understand how to read a profit and loss (P&L) statement , how to budget, hire employees , launch products , and manage cash flow. My product was good, but customers struggled to buy it. Why purpose matters.

Startup 111

Startup New York City Community Software Review 111