Both Sides of the Table

NOVEMBER 19, 2009

Your head of sales thinks she should fire somebody. Somebody asks whether you plan to set up 401k’s and do contribution matching. You’re sales person is getting blocked by the CTO who says she shouldn’t go above him but the CTO isn’t approving the deal. But then something awesome happened.

Entrepreneur 414

Entrepreneur Fractional CTO Technical Review CTO Hire 414

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. More customers are lost to apathy after the sale than poor service or quality. On the other hand, a great idea without a business plan is a non-starter.

Technical Review 333

Technical Review Startup Software Review Retention 333

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

Up and Running

JULY 1, 2020

You may grow to tap new markets or increase sales in your current markets. A good business plan is critical to starting a successful business. Creating a plan for business expansions is no less essential. How to use your business plan as a checklist. As the saying goes, haste makes waste.

Business Plan 152

Business Plan Forecast Operations Dilution 152

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

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

JANUARY 16, 2013

Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. More customers are lost to apathy after the sale than poor service or quality. On the other hand, a great idea without a business plan is a non-starter.

Entrepreneur 275

Entrepreneur Technical Review Software Review Retention 275

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

APRIL 14, 2014

Sponsored by VISA Business If you have a unique product or service, and you are not selling it around the world on the Internet, now is the time to start. The cost of entry has never been lower. In the early days (20 years ago), most new e-commerce sites, for example, cost a million dollars to set up. Start simple.

Startup 252

Startup eCommerce Hosting Bootstrapping 252

Up and Running

AUGUST 17, 2020

Typically this means investing in sales technology that makes you more agile and is easily scalable as you drive long-term growth. One vital, but often-overlooked, need is effective documentation, specifically when writing sales quotes. Integrating a new software or service platform with your business can be a costly endeavor.

Software Review 113

Software Review Software Sales Small Business 113

Up and Running

SEPTEMBER 22, 2022

Before you jump into starting your own vacation rental business, you’ll need a business plan. This article will cover the steps to create your Airbnb business plan, along with some tips to run it successfully. How to write an Airbnb business plan. Why are you starting your Airbnb business?

Business Plan 110

Business Plan Software Review Technical Review Forecast 110

Startup Professionals Musings

SEPTEMBER 24, 2014

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.”

Entrepreneur 299

Entrepreneur Technical Review Business Plan Angel Investor 299

Steve Blank

JUNE 26, 2014

We’re changing the order in which we teach the business model canvas and customer development to better-fit therapeutics, diagnostics and medical devices. — Over the last three years the Lean LaunchPad class has started to replace the last century’s “how to write a business plan” classes as the foundation for entrepreneurial education.

Intellectual Property 290

Intellectual Property Lean IP Open Source 290

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

Up and Running

FEBRUARY 16, 2022

When starting an online fitness business, one of the first key elements you must prepare is a business plan. For starters, it can set your business up for success from the start rather than down the line. How to write an online fitness business plan. Industry analysis.

Business Plan 81

Business Plan Software Review Demand Hiring 81

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

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 3, 2021

The impact of a memorable story was highlighted for me recently as I reviewed the classic book, “ Sell With A Story ,” by Paul Smith, who is an expert trainer on increasing business results through storytelling. These attributes include the following: Specific moment-in-time indication. Place where it happened.

Elevator Pitch 313

Elevator Pitch Technical Review Boston Sales 313

Startup Professionals Musings

OCTOBER 20, 2012

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 273

Technical Review Startup Finance Cost 273

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

Startup Professionals Musings

NOVEMBER 28, 2013

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 251

Technical Review Entrepreneur Salary Finance 251

A Smart Bear: Startups and Marketing for Geeks

MARCH 21, 2017

Even if this costs more than 2 years of in-house assembly, it’s still worth it, due to accelerating revenue growth due to up-sales and market-differentiation. Pundits couldn’t agree how to analyze the sale of Instagram to Facebook. This acquirer doesn’t care about the financials of the startup.

Balance Sheet 242

Balance Sheet Vertical Acquisition Revenue 242

Up and Running

APRIL 13, 2021

And nowadays you can get Microsoft Excel for about what a lunch costs per month, and Google Sheets — a competent alternative — for free. In this article, I’ll show you how to do your plan vs. actual analysis, step by step, with your accounting and your spreadsheet. Accounting needs detail, while planning needs a summary.

Forecast 147

Forecast Matching Balance Sheet Software Review 147

Startup Professionals Musings

DECEMBER 17, 2014

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.

Bandwidth 262

Bandwidth Distribution Agile Social Media 262

Up and Running

OCTOBER 26, 2020

With an eCommerce business, your website is everything. It’s the driver of both sales and marketing and establishes a 24/7 representation of your brand. But if you start with realistic expectations for how much it may cost to launch a successful eCommerce store, you’ll be far more likely to succeed. Working with a web template.

eCommerce 149

eCommerce Development Team Review Hosting Security 149

Up and Running

APRIL 22, 2020

Maintaining your business through the coronavirus crisis has likely led you to cut costs, revise your sales projections, and potentially seek out a loan to help you stay afloat. Many startups are small, local businesses with hopes of eventually rapidly scaling—but they’re still establishing a track record. Risky industry.

SBA 139

SBA Forecast Software Review Business Plan 139

Steve Blank

OCTOBER 24, 2017

This required a repeatable and scalable sales process, which required a professional sales staff and a product stable enough that customers wouldn’t return it. — all great things when you are executing and scaling a known business model. — all great things when you are executing and scaling a known business model.

Founder 281

Founder Technical Review CTO Hire IPO 281

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 18, 2014

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 266

Technical Review Intellectual Property Early Stage Global 266

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

YoungUpstarts

JULY 7, 2020

When starting a business, you will have many endeavours whether you have a small or large capital. Aluminium joinery business has been one of the most stable business for the past decade. Here are tips on how to start on this business: Have a business plan. Aluminium and Its Uses. Know your location.

Reputation 237

Reputation B2B Technical Review Social Media 237

Startup Professionals Musings

OCTOBER 15, 2018

The impact of a memorable story was highlighted for me recently as I reviewed the classic book, “ Sell With A Story ,” by Paul Smith, who is an expert trainer on increasing business results through storytelling. These attributes include the following: Specific moment-in-time indication. Place where it happened.

Elevator Pitch 211

Elevator Pitch Technical Review Boston Sales 211

YoungUpstarts

AUGUST 17, 2020

While every type of business has its own financial requirements, (i.e. an entrepreneur should have about 6 months worth of fixed costs on hand at the beginning. Additionally, take time to plan your costs and don’t underestimate expenses – they will likely increase as your business grows.

Finance 217

Finance Forecast Balance Sheet Angel Investor 217

The Startup Magazine

AUGUST 7, 2024

Research and Understand the Market Before launching your business, it is essential to understand the market demand and trends. Develop a Solid Business Plan A detailed business plan is crucial for any startup.

Software Review 158

Software Review United States Social Media Advertising 158

Up and Running

SEPTEMBER 14, 2021

Sales is all about how to get more customers, and relationship funnels prioritize establishing a genuine connection with your customers. Relationship funnel vs. sales funnel — What’s the difference? It’s easy to confuse relationship funnels with traditional sales or marketing funnels, however, they differ significantly.

Sales 152

Sales Audience Social Media Email 152

YoungUpstarts

JULY 12, 2019

Nowadays, many businesses solely operate online due to the dramatic transformation that has taken place in how people buy things in recent years. E-commerce sales are growing every year, so it is no surprise that new businesses are being set up online instead of in physical locations. Make a Business Plan.

Small Business 127

Small Business Florida LLC Limited Liability Company 127