Startup Professionals Musings

DECEMBER 14, 2013

But the reality is that sellers are no longer in charge of the customer buying process. Kristin Zhivago, in her book “ Roadmap to Revenue ,” makes the point that the selling system is broken, since sellers no longer sell the way customers are buying. The best way to do this is with real customer interviews.

Revenue 263

Revenue Startup Technical Review Business Model 263

Steve Blank

APRIL 12, 2010

Each sale requires us to handhold the customer and takes way too long to close. He took a deep breath, looked around the boardroom table and then proceeded to outline a radical reconfiguration of the product line (repackaging the products rather than reengineering them) and a change in sales strategy, focusing on a different customer segment.

Business Model 332

Business Model Agile Customer Development Startup 332

Duct Tape Marketing

JANUARY 4, 2024

Our deep dive into the world of email newsletters unveils tactical strategies for transforming subscribers into revenue-generating assets. Key Takeaways: Russell Henneberry provides the tactical strategies to transform subscribers into revenue. Exclusive to new customers—upgrade and grow your business with ActiveCampaign today!

Revenue 79

Revenue Advertising Email ChatGPT 79

Startup Professionals Musings

JUNE 21, 2020

Some analysts argue that revenue drives growth, while others say user growth drives revenue. Google reached $1B in revenue within five years of incorporation, and now has a market capitalization of over $1 trillion. A business only achieved critical mass by becoming cash-flow positive. Both have worked.

Revenue 434

Revenue Valuation Viral Retention 434

Startup Professionals Musings

APRIL 4, 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. It always reduces risk to plan your business first. Commit to a major customer.

Intellectual Property 261

Intellectual Property Technical Review Incubator Bootstrapping 261

Startup Professionals Musings

FEBRUARY 8, 2023

Most business professionals I know have been conditioned to think of inflation as highly negative, driving up their costs, and reducing customer buying. I see it as an opportunity to find new ways to attract customers , make long-needed changes to improve productivity, and lower your own costs of doing business.

Technical Review 239

Technical Review Revenue Social Media Cost 239

Startup Professionals Musings

FEBRUARY 26, 2023

Every new business quickly realizes that revenue coming in every period on a committed basis is the Holy Grail to survival and growth. Based on traditional research, getting new customers is five to ten times harder than getting additional revenue from existing customers. Front-of-the-line model.

Business Model 294

Business Model Startup Cloud Curation 294

Steve Blank

JANUARY 17, 2023

Venture Studios are an “idea factory” with their own employees searching for product/market fit and a repeatable and scalable business model. But these look for founders who have a technical or business model insight and a team. They do the most to de-risk the early stages of a startup. How Venture Studios Work.

Technical Cofounder 346

Technical Cofounder Intellectual Property Technical Review Incubator 346

YoungUpstarts

OCTOBER 23, 2019

It’s a well-known fact of business that customers must be the focus of a successful business model; hence the now-cliched idiom “the customer is always right”. But in this customer-focused model, some businesses make the mistake of neglecting to focus on their employees.

Employee 104

Employee Customer Software Review Salary 104

Startup Professionals Musings

NOVEMBER 2, 2022

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 304

Forecast Stock Options Technical Review Metrics 304

Startup Professionals Musings

JANUARY 16, 2022

That means it solves a real problem for real customers who are ready and able to spend real money. The number of current potential customers is large and growing. MySpace, for example, boomed after launch for five years without a revenue model. Build a business plan for profitability in your lifetime.

Revenue 297

Revenue Widget Angel Investor Early Stage 297

Startup Professionals Musings

DECEMBER 6, 2019

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. It always reduces risk to plan your business first. Commit to a major customer.

Finance 320

Finance Intellectual Property Technical Review Incubator 320

VC Cafe

MARCH 1, 2024

AI to build enterprise software – In the future, every enterprise could have their own custom ERP, CRM or HRIS that is continually updating itself as the company itself is changing. Digital Wallets – Digital wallets could grow select vertical software platforms’ revenues to $27-$50bn in 2030. trillion by 2030.

Artificial Inteligence 176

Artificial Inteligence Technical Review Software Review Generative AI 176

Steve Blank

NOVEMBER 13, 2012

I asked Tsutsumi-san to write a guest post for my blog to describe his experience with Customer Development in Japan. But customers didn’t agree. This made me believe deeply in the extreme importance of talking to customers before investing time and money, something I took to my next startup. ————-.

Japan 292

Japan Customer Development Developer Customer 292

David Teten

AUGUST 19, 2019

So you’re interested in raising capital from a Revenue-Based Investor VC. A new wave of Revenue-Based Investors (“RBI”) are emerging. I’ve been a traditional equity VC for 8 years, and I’m now researching new business models in venture capital. Rational burn profile, up to 50% of revenue at close, scaling down.

Revenue 60

Revenue Technical Review Software Review Equity 60

The Startup Magazine

OCTOBER 4, 2023

This will allow you to identify opportunities, challenges, customer preferences, and emerging trends. Market research involves gathering information about potential customers in your target area, competitor strategies, pricing scales, and demand patterns amongst other things.

Balance Sheet 107

Balance Sheet Technical Review Business Model Business Plan 107

Steve Blank

NOVEMBER 16, 2009

I was in New York last week with my class at Columbia University and several events made me realize that the Customer Development model needs to better describe its fit with web-based businesses. In it, I got asked a question I often hear: “What if we have a web-based business that doesn’t have revenue or paying customers?

Customer Development 219

Customer Development Web Developer Customer 219

The Startup Magazine

JULY 16, 2021

The lesson of the pandemic era is clear, as market conditions change, business models must evolve. Success is not, as you would think, about having stable business models across market conditions. There is one consideration that should be paramount in your thinking about your business model.

Business Model 167

Business Model Aggregator Revenue Analytics 167

VC Cafe

FEBRUARY 21, 2023

They encompass the effectiveness of marketing (the startup’s ability to reach and resonate with target customers) and stickiness (the product’s ability to deliver value to customers over time). In this post, we’ll take a closer look at the benchmarks on conversion, retention and churn for the key business models.

Retention 109

Retention Conversion Churn Rate B2C 109

Startup Professionals Musings

MAY 23, 2022

Building an ethical business is more than just compliance and meeting legal requirements, and it has big paybacks. One 11-year study of over 200 companies over a decade ago, detailed in the book “ Corporate Culture and Performance ,” found that those working on their culture improved revenue by 516%, and increased net income by 755%.

Software Review 291

Software Review Offshore Entrepreneur Leadership 291

Steve Blank

SEPTEMBER 5, 2018

A version of this article first appeared in the Harvard Business Review. Tech IPO prices exploded and subsequent trading prices rose to dizzying heights as the stock prices became disconnected from the traditional metrics of revenue and profits. They needed to be sure that what they were building was what customers wanted and needed.

Lean 335

Lean Burn Rate Startup IPO 335

Steve Blank

FEBRUARY 25, 2010

Customer Development is a technique startups use to quickly iterate and test each part of their business model. How you execute Customer Development varies, depending on your type of business. In my book, “ The Four Steps to the Epiphany ” I use enterprise software as the business model example.

Customer Development 266

Customer Development Web Developer Customer 266

David Teten

AUGUST 20, 2019

A new wave of Revenue-Based Investors are emerging who are using creative investing structures with some of the upside of traditional VC, but some of the downside protection of debt. I’ve been a traditional equity VC for 8 years, and I’m now researching new business models in venture capital. ” .

Revenue 60

Revenue Cofounder Founder Venture Capital 60

The Next Web

DECEMBER 30, 2012

How do you monetize a unique business model based on users rather than selling an actual product? We have a very simple business model. We create the best experience for creating personalized books, cards and calendars then our customers pay us for these products. Diversifying revenue streams at Wave.

Business Model 133

Business Model Technical Review Advertising B2C 133

The Startup Magazine

OCTOBER 26, 2021

There are so many businesses around us, and to stay in the game, you need to think of ways to improve your small business revenue. It’s important to remember that every small business needs a different approach. Here are 8 straightforward ways to help you improve your small business. Follow industry best practices.

Small Business 165

Small Business Mobile Revenue Social Media 165

ConversionXL

SEPTEMBER 15, 2020

Like any popular business term, “customer centricity” is often abused by businesses that shoehorn it into their core values. It’s actually better not to claim customer centricity if you can’t get people across your business to really care about your customers. Find new ways to fix old customer pains points.

Customer 85

Customer Community Revenue Software Review 85

Startup Professionals Musings

MAY 15, 2019

Steve Blank via Flickr by jdlasica I see more and more entrepreneurs who seem to have everything going for them – vision, motivation, passion, even a good business plan, product, and money, and yet they can’t close customers. Great businesses begin with a customer problem that has a big and monetizable pain point.

Startup 245

Startup Angel Investor Technical Review Incubator 245

YoungUpstarts

JANUARY 30, 2015

Google is focused on expanding its already broad reach into the advertising market by increasing the span and coverage of its digital and mobile platforms, and the company’s 4Q14 results highlight how the company’s efforts to buttress its core services is paying off: Google’s revenue and gross profit climbed 15.3% billion and generated $4.1

Advertising 100

Advertising Revenue Mobile Intellectual Property 100

Steve Blank

JUNE 23, 2020

The pandemic has upended the business models of most startups and existing companies. As the economy reopens companies are finding that customers may have disappeared or that their spending behavior has changed. Suppliers are going out of business or requiring cash-up-front terms. Here’s how.

Customer 436

Customer Marketing Customer Development Lean 436

Startup Professionals Musings

OCTOBER 30, 2020

I suggest looking for painful problems to solve, rather than “easier to use” or “nice to have” solutions, for customers with money. Customers line up to believe and buy from people who are viewed as leaders or experts relative to a specific solution. Collaborate with customers to tune your solution.

Merger 386

Merger Acquisition Software Review Social Media 386

Steve Blank

APRIL 23, 2014

Most large companies manage three types of innovation: process innovation (making existing products incrementally better), continuous innovation (building on the strength of the company’s current business model but creating new elements) and disruptive innovation (creating products or services that did not exist before.).

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

Startup Professionals Musings

JANUARY 13, 2014

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure the rate of sales ramps up quickly enough to keep the business alive and growing.

Business Model 248

Business Model Sales Customer Distribution 248

Startup Professionals Musings

FEBRUARY 8, 2020

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.

Management 322

Management Entrepreneur Forecast Stock Options 322

Startup Professionals Musings

AUGUST 25, 2011

But the reality is that sellers are no longer in charge of the customer buying process. Kristin Zhivago, in her new book “ Roadmap to Revenue ,” makes the point that the selling system is broken, since sellers no longer sell the way customers are buying. The best way to do this is with real customer interviews.

Customer 242

Customer Technical Review Business Model Revenue 242

Startup Professionals Musings

NOVEMBER 20, 2022

As a startup advisor, I see too many entrepreneurs get distracted by technology or their favorite cause, and then wonder why they can’t find an investor, attract customers, or build a long-term business. Customers now put big value on experience, social impact, empowerment, and feedback.

Customer 258

Customer Advertising Cost Networking 258

YoungUpstarts

NOVEMBER 25, 2014

While it’s true that at no other time are customers in as much of a shopping mood, SMBs cannot afford to sit back and follow a “Field of Dreams” business model. An operating website does not automatically translate into customers stopping by for a visit, let alone buying something.

Customer 167

Customer Social Media eCommerce Campaign 167

crowdSPRING Blog

FEBRUARY 26, 2023

Popular subscription businesses such as eCommerce subscriptions, streaming services, and more have grown drastically over the years as they’re more convenient and affordable. Benefits of a subscription business Subscription businesses may be affordable and convenient to customers, but they also benefit business owners greatly.

United States 68

United States eCommerce Business Model Technical Review 68