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7 Keys To Making A Business Out Of Your Great Product

Startup Professionals Musings

Most technical entrepreneurs focus hard on building an innovative product, but forget that an elegant solution doesn’t automatically translate into a successful business. Defining the right business model requires the same diligence as designing the right product, but the approach and skills required are different.

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10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

For the rest of us, we need a business plan, as well as a product plan. Some of you may be convinced that your product specification communicates the product message even better than a business plan, so why be redundant? Description of the business entity you plan to form. You need both to survive.

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Startup Metrics

TechEmpower

When talking to startup founders or other innovators, we always ask questions to better understand their business as a core. What does the business do? One way to approach that last question is to use this simple model: Customer Acquisition Cost (CAC) How will your business reach prospects?

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Is a Venture Studio Right for You?

Steve Blank

Three types of organizations – Incubators, Accelerators and Venture Studios – have emerged to reduce the risk of early-stage startup failure by helping teams find product/market fit and raise initial capital. They do the most to de-risk the early stages of a startup. Reducing Startup Risk.

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5 Steps To Finding The Best Investor For Your Startup

Startup Professionals Musings

Even though the color of their money is always green, all startup investors are not the same. Investor due diligence on a startup is not a mysterious black art, but is nothing more than a final integrity check on all aspects of your business model, team, product, customers, and plan. It’s no fun for either side.

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10 Common Startup Mistakes That Are Rarely Admitted

Startup Professionals Musings

These things outside your control do happen, but based on my years of experience as a startup advisor and angel investor, I still see too many strategies leading to failure that are inside the entrepreneur decision realm. I certainly agree that starting a business is fraught with risk, and none of us get it all right the first time.

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5 Key Points Of Focus For Every Scalable New Venture

Startup Professionals Musings

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. I found their five phases of the process to be compelling, based on my own years of experience mentoring startups: Nail the pain.