Startup Professionals Musings

DECEMBER 5, 2021

Every time I challenge a business plan with little or no budget for marketing, I get the answer that they will be using “viral” marketing, which costs nothing. At any rate, “buzz-worthy” and “viral” are marketing illusions that cost big money to create, and these are only the beginning. Marty Zwilling.

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Viral Marketing SEM Campaign 348

Women Entrepreneurs Can

OCTOBER 30, 2024

For the markets that don’t have anything like this, you can usually find a business worksheet online that will help you calculate your startup costs. You will face numerous expenses, depending on the type of business you run. If you want to work around this then using a business plan template, as mentioned above can help.

Cost 40

Cost Software Review Technical Review Business Plan 40

Hearpreneur

OCTOBER 10, 2023

In the realm of great business ideas, a well-crafted business plan takes center stage. Beyond that, it acts as your business's guiding roadmap, ensuring you stay aligned with your goals as your operations adapt to evolving circumstances. This document provides essential clarity on your business vision and mission.

Business Plan 143

Business Plan Jordan Entrepreneur Florida 143

Startup Professionals Musings

JANUARY 24, 2021

In reality, it is nothing more than a final integrity check on all aspects of the business and the team. Some entrepreneurs do very little to prepare for due diligence, assuming all the talking has already been done, and the business plan and results to-date tell the right story.

Technical Review 379

Technical Review Due Diligence Term Sheet Bankruptcy 379

Startup Professionals Musings

MARCH 21, 2021

Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. If you collect business cards at a trade show, make sure all have follow-up within 72 hours, and at least three more times after that. Investor negotiations.

Technical Review 333

Technical Review Startup Software Review Retention 333

Startup Professionals Musings

MARCH 6, 2021

I’m sure all you accountants will agree that fixing the mistakes listed here does not require rocket science, but I’ve seen them so often that to be forewarned is to be forearmed: Failing to factor in fixed costs when pricing. Always use a break-even analysis to measure what volume and price are required to offset total costs.

Technical Review 379

Technical Review Finance Startup Salary 379

Startup Professionals Musings

AUGUST 9, 2020

Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability. Value is embodied in previous success with investors, proven problem solving ability, and having built and executed a business plan with minimal resources.

Cofounder 435

Cofounder Technical Cofounder Equity Intellectual Property 435

Both Sides of the Table

OCTOBER 30, 2014

Could we produce this at cost? Meredith Perry came up with the idea for uBeam while still in college at University of Pennsylvania and like many great inventors won her school’s business plan competition.

Technical Review 418

Technical Review Software Review Due Diligence CTO Hire 418

Startup Professionals Musings

APRIL 11, 2020

Many of the business plans I have seen as an investor, like trying to integrate all the social media features of Facebook, Twitter, and LinkedIn into a new platform, don’t do it. In many business domains today, the market seems to change about every ninety days. The initial larger cost in time and dollars is only the beginning.

Startup 424

Startup Bandwidth Distribution Agile 424

Startup Professionals Musings

FEBRUARY 12, 2023

It’s important to learn from your own mistakes, but it’s even smarter to learn from someone else’s mistakes, without paying their high price in time lost, cost, and pain. In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan.

Intellectual Property 312

Intellectual Property Startup Angel Investor Viral 312

Startup Professionals Musings

SEPTEMBER 25, 2021

In fact, I often have to tell aspiring entrepreneurs that their inventions have zero value, at least not until they are put in the context of a business plan, with qualified people committed to executing the plan. You need a viable business model and customers. Early-stage ideas fall in the same category.

Technical Review 391

Technical Review Intellectual Property Early Stage Global 391

Startup Professionals Musings

FEBRUARY 8, 2021

Especially if you are a first-time business owner, the payback for this initiative is well worth the effort and cost. Unfortunately, I see too many new entrepreneurs who let their passion for a new idea or invention blind them to the stark realities of customer need, opportunity size, or pricing and cost implications.

Advisory Board 356

Advisory Board Bandwidth Cofounder Technical Review 356

Up and Running

OCTOBER 28, 2022

This presents the question—how much of your personal money should you put into your own business? Pros and cons of using your own money for startup costs. Few people have deep enough pockets to fund a business beyond launch. Conduct a cost estimation. Find the right funding mix for your business.

Cost 138

Cost Startup Early Stage Vesting 138

Startup Professionals Musings

FEBRUARY 24, 2019

Every time I challenge a business plan with little or no budget for marketing, I get the answer that they will be using “viral” marketing, which costs nothing. At any rate, “buzz-worthy” and “viral” are marketing illusions that cost big money to create, and these are only the beginning. Marty Zwilling.

Viral 268

Viral Marketing SEM Campaign 268

Startup Professionals Musings

FEBRUARY 14, 2022

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. Don’t forget a viable financial model of costs, margins, customer acquisition, and break-even.

Angel Investor 359

Angel Investor Technical Review Incubator Business Model 359

Startup Professionals Musings

MARCH 21, 2020

Others will work hard on a business plan, and then mail it indiscriminately to every potential investor they can find on the Internet. Attached is a copy of my full business plan for your review.” I don’t have a business plan, but the technology is disruptive.”

Technical Review 310

Technical Review Angel Investor Business Plan Social Media 310

Startup Professionals Musings

AUGUST 26, 2022

Most business advisors I know will say that writing a business plan is the first step to starting your own business, but I believe that a better first step is to do a self-analysis of your real drivers, strengths, and assumptions before committing to this lifestyle. Check your tolerance for risk, uncertainty, and change.

Founder 262

Founder Intellectual Property Social Media Business Plan 262

Startup Professionals Musings

OCTOBER 6, 2023

In reality, it is nothing more than a final integrity check on all aspects of the business and the team. Some entrepreneurs do very little to prepare for due diligence, assuming all the talking has already been done, and the business plan and results to-date tell the right story.

Technical Review 296

Technical Review Due Diligence Term Sheet Bankruptcy 296

Startup Professionals Musings

SEPTEMBER 16, 2023

Of course, that’s both the good news and the bad news for aspiring entrepreneurs, since it means more competition, and the business landscape is changing faster than ever. But for founders who do their homework, the cost of entry is lower and the opportunity is higher than ever. The cost of social media done well is low.

Intellectual Property 261

Intellectual Property Entrepreneur Angel Groups Social Media 261

The Startup Magazine

AUGUST 26, 2024

LLCs and corporations provide limited liability protection but may require more paperwork and higher startup costs. Obtaining Necessary Licenses and Permits The requirements for starting a roofing business vary significantly by state and locality. For instance, you could emphasize the energy efficiency of your roofing materials.

Limited Liability Company 157

Limited Liability Company Technical Review Software Review Angel Investor 157

Startup Professionals Musings

JANUARY 13, 2020

Early in the relationship, every investor instinctively looks for some key indicators of the ability to get results, like the following: Communicates well in every business medium. Others send investors email and business plans in all uppercase or no punctuation. Message delivery must be customized for each investor.

Intellectual Property 316

Intellectual Property Angel Investor Early Stage Venture Capital 316

Startup Professionals Musings

AUGUST 14, 2020

They don’t realize that business projections with no third-party validation have no credibility with investors, and smart potential investors will walk away. Every good business plan needs an early section which sizes the total market opportunity, and then breaks down that total into the most relevant segments for your focus.

Business Plan 393

Business Plan Marketing SBA Venture Capital 393

Startup Professionals Musings

OCTOBER 15, 2022

Early in the relationship, every investor instinctively looks for some key indicators of the ability to get results, like the following: Communicates well in every business medium. Others send investors email and business plans in all uppercase or no punctuation. Message delivery must be customized for each investor.

Intellectual Property 278

Intellectual Property Angel Investor Early Stage Venture Capital 278

Startup Professionals Musings

OCTOBER 9, 2023

Here are seven steps I recommend for establishing the right business model: Size the value of your solution in the target segment. Estimate your costs, including a 50 percent gross margin, as a lower bound on a price. Here again is your chance to make pivots for almost no cost. Plan and execute a pilot or local rollout.

Technical Review 220

Technical Review Advisory Board Software Review Business Model 220

Startup Professionals Musings

JANUARY 6, 2023

Many of the business plans I have seen as an investor, like trying to integrate all the social media features of Facebook, Twitter, and LinkedIn into a new platform, don’t do it. In many business domains today, the market seems to change about every ninety days. The initial larger cost in time and dollars is only the beginning.

Startup 287

Startup Bandwidth Distribution Agile 287

The Startup Magazine

JANUARY 24, 2020

You’ve made it past the ideation phase, perhaps you’ve got a business plan in place, and now you’re ready to watch your business grow. A lot of startups will bypass important things like hiring HR or buying an insurance policy to protect their business. Not too fast.

Software Review 182

Software Review Startup Technical Review Hiring 182

Startup Professionals Musings

OCTOBER 3, 2021

The result will always have more impact than merely outlining a new technology, cutting costs, or tackling a known problem, such as world hunger. Most entrepreneurs were incented to start their venture at a specific moment they remember well, so telling the story of when and how this happened is a natural. Place where it happened.

Elevator Pitch 313

Elevator Pitch Technical Review Boston Sales 313

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. Don’t forget a viable financial model of costs, margins, customer acquisition, and break-even.

Startup 245

Startup Angel Investor Technical Review Incubator 245

Startup Professionals Musings

MAY 1, 2023

Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability. Value is embodied in previous success with investors, proven problem-solving ability, and having built and executed a business plan with minimal resources.

Technical Cofounder 247

Technical Cofounder Equity Distribution Cofounder 247

Startup Professionals Musings

SEPTEMBER 7, 2020

Yet everyone has limits, and every investor implicitly has similar limits on what makes a startup investable, or one to avoid at all costs. If you aren’t willing to take some risk as an entrepreneur, then don’t expect any gain. I encourage you to be proactive on these issues, rather than saying nothing unless questioned.

New York City 315

New York City Silicon Valley Startup Bootstrapping 315

The Startup Magazine

AUGUST 30, 2024

Building a Robust Business Plan A comprehensive business plan serves as the blueprint for your international expansion. A well-crafted business plan attracts investors and aligns internal teams towards common goals. Include detailed financial forecasts and potential challenges along with mitigation plans.

Technical Review 159

Technical Review Intellectual Property Due Diligence Global 159

ReadWriteStart

NOVEMBER 12, 2022

As the global economic situation deteriorates amid the Russian invasion of Ukraine and soaring energy costs, many aspiring entrepreneurs might be tempted to give up and wait for better days. This is partly due to the global financial crisis of 2008, which led many companies to reassess their spending to cut costs.

Startup 198

Startup Technical Review Ghana Guerilla 198

Startup Professionals Musings

NOVEMBER 4, 2019

I love good causes and social entrepreneurs, but a recent pitch to me about eliminating world hunger with a new product (harvesting algae at low cost) seemed to forget that really hungry people don’t have any money. Build a credible business implementation plan to quantify costs. Even a non-profit needs income to operate.

Intellectual Property 235

Intellectual Property Elevator Pitch Harvest Technical Review 235

Startup Professionals Musings

JULY 1, 2020

The key here is to plan ahead, nurture a relationship with your favorite venture capitalists, and leverage the growth and assets you already have with other lending and funding organizations. Of course this means taking some smart risks, not resting on your laurels, and continuously updating your business plan and strategy.

Entrepreneur 306

Entrepreneur Due Diligence Startup Acquisition 306

VC Cafe

JULY 26, 2020

Most principles of Lean Startup remain true, as described by Steve Blank in The Lean Startup Changes Everything : Business Plans are dead: Startups a series of hypothesis that need to be tested. Ditch the business plan and when assumptions are proven wrong, pivot Customer Development: Build a product your customers want (vs.

Lean 214

Lean Seed Capital Startup Burn Rate 214

Startup Professionals Musings

APRIL 11, 2021

Entrepreneurs often put off the hassle and the cost of filing a patent until first funding. This will hold your place in the patent line for a year, and the costs and time for this filing are much less. Business plans and other documents should always be labeled as confidential. Marty Zwilling.

Cost 363

Cost Non-Compete Accredited Investor Cofounder 363

Startup Professionals Musings

SEPTEMBER 10, 2018

Building a new business is quite different from an executive role in a mature company, so people from these backgrounds are often a liability. Value is embodied in previous success with investors, proven problem solving ability, and having built and executed a business plan with minimal resources.

Equity 238

Equity Cofounder Technical Cofounder Intellectual Property 238