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. Don’t rely on conservative forecasts to reduce risk.

Management 322

Management Entrepreneur Forecast Stock Options 322

Both Sides of the Table

JULY 1, 2010

As a CEO you never stop needing to go on sales calls (or to work the phones in telesales or customer support) and ceasing to do this as your company grows because you’re focusing on investors, recruiting, PR or whatever is a mistake. I also liked to sit in on sales pipeline meetings. This led to a lot of human error.

CTO Hire 308

CTO Hire Management Technical Review Part-Time VPE 308

Startup Professionals Musings

JULY 25, 2021

It takes a long time and lots of effort to overcome existing momentum, and both investors and customers want to see results on a small scale in their lifetime, before they line up to join the movement. Look for sizable customer populations unattractive to incumbents. Compete against non-consumption and non-existing markets.

Non-Compete 394

Non-Compete Technical Review Forecast Social Media 394

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. Don’t rely on conservative forecasts to reduce risk.

Forecast 304

Forecast Stock Options Technical Review Metrics 304

Startup Professionals Musings

JUNE 9, 2012

Projecting the financials should be the last step of your business plan preparation, since it assumes you already know the opportunity size, customer buying habits, pricing, costs, and competition. Unless your volumes are in the millions or higher, the difference between manufacturing cost and customer price better be 50% or greater.

Forecast 238

Forecast Burn Rate .Net Business Model 238

Both Sides of the Table

FEBRUARY 14, 2010

One of our core tasks was “market analysis,&# which consistent of: market sizing, market forecasts, competitive analysis and then instructing customers on which direction to take. 40% of costs are labor, 40% are materials and 20% are overheads. 23% of all costs are inefficient. It becomes folklore. It can happen.

Investment Bankers 415

Investment Bankers Mobile Software Review Japan 415

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. Don’t rely on conservative forecasts to reduce risk.

Startup 283

Startup Forecast Stock Options Technical Review 283

Both Sides of the Table

NOVEMBER 19, 2009

The company had less than $5 million in revenue yet we had a multi-tab spreadsheet doing activity-based costing on our customer service staff, operations and technology. We had every chart every invented by man (or McKinsey) showing failure rates of our product, mean-times-to-repair, detailed sales forecast charts, etc.

Entrepreneur 414

Entrepreneur Fractional CTO Technical Review CTO Hire 414

Both Sides of the Table

APRIL 3, 2014

Whenever I heard why we didn’t feel a sales process at an important customer was going well (or if we lost) I would get involved myself. They are as good at selling you as they are at selling your product to customers. Customer also buy social proof because others are acting as strong references.

Sales 382

Sales Startup Technical Review Matching 382

Steve Blank

APRIL 1, 2020

Any place with a fixed cost that relies on foot traffic will come under pressure. Your customers will no longer be your customers. Cut costs to stay alive for 24 months. Forecasted recovery date. Your customers start buying. Sales pipeline/forecast. Payroll costs/other variable costs.

South Korea 334

South Korea Salary Business Model China 334

Both Sides of the Table

APRIL 8, 2010

They work through ROI calculations with customers. They are the LIFEBLOOD of sales organizations because they’re plentiful and deliver great value relative to their costs. They’re great at orchestrating your company to deliver product demos. They’re also usually very loyal to your organization. .&#

Early Stage 350

Early Stage Startup Sales Campaign 350

YoungUpstarts

APRIL 16, 2020

The fast options to get business cash are: Collecting from customers. Each of these options has negative ramifications – bad customer experience, personal financial strain, and high-interest rates, respectively speaking. Customers not paying invoices. What are my top 3 costs? Owner cash infusion or loan.

Recapitalization 200

Recapitalization Forecast Software Review Finance 200

YoungUpstarts

JUNE 12, 2017

Despite the massive scope of the fraud, customers ultimately didn’t lose a lot of money. That lack of control mixed with an environment focused on meeting goals at all costs leads to an incredibly volatile cocktail of paralysis and fear. The lender has since refunded $3.2 Get a second opinion. Test for problem-solving.

Finance 159

Finance Cost Hiring Reputation 159

YoungUpstarts

SEPTEMBER 4, 2016

On an elementary level, this translates into efficient manufacturing at a lower cost. Suppliers also have machinery and technology issues to contend with as they create customized products. Learn how these disjointed sources of materials affect your supply chain costs and cause potential delays.

Management 145

Management Los Angeles Forecast San Francisco 145

Up and Running

SEPTEMBER 10, 2021

Many small businesses are turning to customer relationship management systems(CRM) to better understand customer wants and needs. CRM applications, often used in combination with data warehousing, eCommerce applications , and call centers, allow companies to gather and access customer information. What is CRM? Who is using CRM?

Management 116

Management Customer Software Review Technical Review 116

NZ Entrepreneur

DECEMBER 1, 2022

With inflation reaching a 30-year high, small businesses across the country will be looking for ways to reduce costs amid cost of living and rising price pressures. With the increasing cost of living, 7-in-10 local SMEs have also noticed changes in consumer behaviour. 2) UNCOVER HIDDEN COSTS.

Cost 104

Cost Small Business New Zealand Technical Review 104

Steve Blank

SEPTEMBER 5, 2018

Reading the NY Times article “ Jeffrey Katzenberg Raises $1 Billion for Short-Form Video Venture, ” I realized it was time for a new startup heuristic: the amount of customer discovery and product-market fit you need to find is inversely proportional to the amount and availability of risk capital. ” Fire, Ready, Aim.

Lean 335

Lean Burn Rate Startup IPO 335

Startup Professionals Musings

DECEMBER 17, 2013

Entrepreneurs have no trouble focusing on how to build a product, and the good ones know how to find and nurture those first critical customers. Sales is simply defined as income from customer purchases of goods and services, minus the cost associated with things like returned or undeliverable merchandise.

Metrics 252

Metrics Technical Review Retention Acquisition 252

Both Sides of the Table

FEBRUARY 5, 2011

Whenever I heard why we didn’t feel a sales process at an important customer was going well (or if we lost) I would get involved myself. They are as good at selling you as they are at selling your product to customers. Customer also buy social proof because others are acting as strong references. They’re in beta).

Sales 316

Sales Technical Review Matching Hiring 316

Up and Running

OCTOBER 28, 2022

Pros and cons of using your own money for startup costs. You have a vested interest in its success, which can provide you with the drive needed to overcome challenges and establish strong relationships with customers, vendors, suppliers, and so on. Conduct a cost estimation. You may need to fund the enterprise on your own.

Cost 138

Cost Startup Early Stage Vesting 138

YoungUpstarts

MAY 30, 2017

They follow the way of websites: a couple of decades ago having a page in the internet was considered to be luxury, though now you cannot surprise customers with online presence. I’d even say, it’s a must to care about your e-customers. App cost can fall by 30% if your design is ready. Platforms (Operating Systems).

Developer 178

Developer Small Business Estonia Ukraine 178

Up and Running

OCTOBER 26, 2020

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. So, before starting an eCommerce business , follow these tips to better plan out your site and accurately budget your startup costs. Template vs. custom design.

eCommerce 149

eCommerce Development Team Review Hosting Security 149

The Startup Magazine

OCTOBER 24, 2024

Furniture stores encounter obstacles such as inventory management and ensuring top-notch customer service. Enhancing Customer Experience Creating a great customer experience goes beyond offering high-quality products in the world of retail. Efficiency and organization are vital in the fast-paced world of retail today.

Operations 167

Operations Software Forecast Software Improvement 167

Up and Running

NOVEMBER 12, 2021

You need to examine your business’s financial plan and develop customized budgeting techniques that help you make healthy financial decisions. A functional budget includes the segmentation of costs and expenses to create reports that help your teams identify problem areas. Not planning for emergency costs.

Technical Review 132

Technical Review Software Review Forecast Cloud 132

Up and Running

SEPTEMBER 1, 2020

Whether you are starting a consulting business, a car repair shop, or a construction firm, a business plan will help you figure out your strategy, develop your marketing plan and figure out the all-important financial forecasts so that you can be successful. For some service businesses, startup costs can be high. Know your numbers.

Business Plan 161

Business Plan Forecast Balance Sheet Sales 161

YoungUpstarts

MAY 8, 2014

Others are based on misconceptions about how the business world works, what motivates customers, and so forth. Sometimes that sabotage might cost you ‘only’ a customer or a sale… but over time, a few customers here and a few dollars there can lead to your closing your doors forever. Holding resources in reserve.

Technical Review 254

Technical Review Entrepreneur Florida Cofounder 254

Steve Blank

APRIL 23, 2018

Sloan put in place GM’s management accounting system (also borrowed from DuPont) that for the first time allowed the company to: 1) produce an annual operating forecast that compared each division’s forecast (revenue, costs, capital requirements and return on investment) with the company’s financial goals. auto market.

Michigan 301

Michigan Cofounder Stock Forecast 301

The Startup Magazine

OCTOBER 19, 2020

Similarly, customers are more knowledgeable, aware, and conscious to choose from the variety out there, which slows down the company’s revenue and growth. Capturing and analyzing data enables companies to get insights that benefit their companies in cost-saving, relevant marketing, product development, etc.

Technical Review 158

Technical Review Forecast Analytics Social Media 158

The Startup Magazine

JUNE 5, 2024

Optimize Facility Operations Efficient facility operations are crucial for a successful self-storage business, directly influencing customer satisfaction and profitability. Streamlining processes and incorporating cost-saving measures are essential components of this strategy. This percentage jumps dramatically with repeated issues.

Security 147

Security Technical Review Operations Revenue 147

Up and Running

MAY 10, 2021

In this article, we will talk about the trends and the cost of mobile app development with a forecast for 2021. We will see an increase in cloud platforms and a reduction in the cost of sensors. The only thing that prevents smart clothes from becoming a popular trend at the moment is their high cost. Trillion by 2025.

Artificial Inteligence 150

Artificial Inteligence Developer Development Team Review United Kingdom 150

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. Second, if a requested loan is below a certain amount, depending on the size of the lender, the cost to service that loan is too high to make it worth it for them.

SBA 139

SBA Forecast Software Review Business Plan 139

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. Don’t rely on conservative forecasts to reduce risk.

Forecast 161

Forecast Stock Options Technical Review Metrics 161

View from Seed

SEPTEMBER 18, 2019

With extremely limited resources and time, one wrong step could cost you 6-9 months of runway. The point here is not to do a granular forecast of revenue or number of users/customers, but to put a stake in the ground so investors understand what you believe is achievable with X amount of resources given Y timeframe.

Part-Time VPE 195

Part-Time VPE Seed Stage CTO Hire Forecast 195

YoungUpstarts

JULY 10, 2017

A change in revenue recognition means a change in the due diligence process, specifically accounting diligence, modeling, quality of earnings and cost of integration. Additionally, certain contract acquisition costs, such as commissions, may be added to the balance sheet, thus impacting the timing of expense recognition.

Revenue 124

Revenue Technical Review Software Review Due Diligence 124

Startup Professionals Musings

MARCH 4, 2016

As a result, repeating any of the following 10 mistakes outlined here won’t get you any credit for intelligence and learning and will cost you dearly in your funding credibility and real cash. Assume you already know what your customers need and want. Just because you love a new solution doesn’t mean your customers will love it.

Intellectual Property 120

Intellectual Property Startup Forecast Angel Investor 120

Up and Running

OCTOBER 29, 2019

Black Friday is just around the corner, and this is a great time to review your sales forecast goals and develop a strategy to meet them through your holiday campaigns. Offer special discounts to loyal customers. Offer special discounts to your best or most loyal customers on the things they buy the most. Cross-sell!

Sales 92

Sales Customer Campaign Stock 92

Up and Running

APRIL 9, 2020

This happens because businesses invoice customers and book the sale which shows profit, even though the cash hasn’t been collected from the customer yet. How to forecast and manage your cash flow. As a starting point, you can try and bring in payments from your customers faster and potentially pay your own bills a bit slower.

Balance Sheet 147

Balance Sheet Forecast CPA Software Review 147