Startup Professionals Musings

NOVEMBER 28, 2020

But for founders who do their homework, the cost of entry is lower and the opportunity is higher than ever. Years ago, it cost a million dollars for a new e-commerce site, one that you can now create for almost nothing with current tools and technology. The cost of social media done well is low. Marty Zwilling.

Intellectual Property 404

Intellectual Property Startup Angel Groups Social Media 404

Startup Professionals Musings

APRIL 17, 2022

The challenge is to recognize and recruit that ideal partner match early with minimal cost and risk. If one of your core values is exceeding your customer expectations for quality and service, and your potential partner ascribes to the low cost, high profit mantra, a successful partnership is highly unlikely over the long-term.

Partner 385

Partner Software Review CTO Hire Cofounder 385

Startup Professionals Musings

DECEMBER 13, 2019

The problem is that more SKUs dramatically increases complexity and cost, when you can least afford it. Buy too much inventory too soon to get unit costs down. Unit costs are important, but don’t forget about the cash flow hit, extra storage costs, and the probability of obsolete inventory due to necessary updates or pivots.

Technical Review 306

Technical Review Metrics Social Media Channel 306

Startup Professionals Musings

APRIL 14, 2021

For example, my dictate that entrepreneurs need to find a “ painful ” problem to solve (such as high cost, low productivity) to attract customers, doesn’t really account for many successful startup businesses today, including top social media platforms, dating sites, and new fashions. All of these tend to override cost and usability.

Customer 432

Customer Social Media Dividend Technical Review 432

Startup Professionals Musings

FEBRUARY 24, 2020

One of the most stressful and unanticipated challenges that comes with starting a new business is hiring and managing employees. While this approach appears to cost more on the surface, it often actually costs you less, when you consider the hidden costs of rework, poor customer satisfaction, employee management, and training required.

Technical Review 308

Technical Review Due Diligence Startup Employee 308

Startup Professionals Musings

AUGUST 19, 2022

Employees are still too often thought of as a commodity, to be acquired “just in time” for the lowest cost, and managed as a disposable asset. Employees are often ineffective because they don’t care about their work or because they don’t possess the skills to contribute. Subjectively measuring employee engagement.

Analytics 303

Analytics Hiring Open Source Employee 303

TechEmpower

MARCH 4, 2024

In testing, AI can simulate a multitude of scenarios, predicting performance outcomes and potential failures before they occur, which reduces the risk and cost associated with physical prototyping. It can also optimize logistics through route and delivery scheduling, leading to reduced operational costs and improved delivery times.

Generative AI 297

Generative AI CTO Hire Fractional CTO Software Review 297

The Startup Magazine

JANUARY 5, 2025

If your budgets tight, look into free or low-cost tax assistance programs. They simplify employee payments and benefits management, and many integrate seamlessly with accounting software. can handle everything from filing your returns to figuring out tricky deductions. Theyre user-friendly and designed to grow your business.

Phoenix 148

Phoenix Small Business Small Business Administration Software Review 148

Startup Professionals Musings

JANUARY 3, 2022

Some of the companies with the best team cultures, including Zappos , even go so far as to offer new employees $2,000 to quit after the first week on the job if they don’t feel a fit with the team assigned. It’s a small cost to prevent a long-term loss. Give priority to attitude over experience. Be patient when filling open positions.

Hiring 337

Hiring Technical Cofounder Cofounder Retention 337

Steve Blank

APRIL 1, 2020

Any place with a fixed cost that relies on foot traffic will come under pressure. Cut costs to stay alive for 24 months. Payroll costs/other variable costs. See if your fixed costs are really fixed, or will they agree to defer some for higher payments at a future date. Try to protect the most vulnerable employees.

South Korea 334

South Korea Salary Business Model China 334

Startup Professionals Musings

APRIL 24, 2023

Among other things, he presents convincing reasons why employee empowerment is now a force that is here to stay in today’s workplace: A new generation of workers are flexing muscles. There are obviously pros and cons to working remotely , including productivity, costs, as well as balancing work and personal lives.

Non-Compete 282

Non-Compete France Japan Technical Review 282

YoungUpstarts

DECEMBER 29, 2020

In the past, working remotely was considered “normal” for entrepreneurs or independent contractors in the gig economy only, but organizations wanted employees, and consultants, to be onsite and working in the office. Employees clearly want and enjoy the flexibility. Cost Savings. This greatly narrowed the talent pool.

Technical Review 275

Technical Review Cofounder Leadership Employee 275

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

Startup Professionals Musings

DECEMBER 5, 2020

For best results, my advice is to think like an entrepreneur, even if you are a corporate employee. He lays out seven thinking strategies for both entrepreneurs and employees that will make them business winners: Focus on the customers at all times. They don’t realize that customers are the source of all business payback.

Technical Review 294

Technical Review Business Model Employee Sales 294

Startup Professionals Musings

MARCH 4, 2020

Trying to save costs by seeking resumes on the Internet will result in poor quality candidates, more time required for screening and interviews, and high turnover. Less qualified prospects don’t have alternatives, so they tolerate the frustration, but may return the favor as an employee. Utilizing unprofessional sources for candidates.

Hiring 339

Hiring Matching Cost Internet 339

Steve Blank

APRIL 10, 2019

VC’s have just changed the ~50-year old social contract with startup employees. For most startup employee’s startup stock options are now a bad deal. As Venture Capital emerged as an industry in the mid 1970’s, investors in venture-funded startups began to give stock options to all their employees. Here’s why.

Stock Options 335

Stock Options Stock Vesting Common Stock 335

Startup Professionals Musings

SEPTEMBER 16, 2023

But for founders who do their homework, the cost of entry is lower and the opportunity is higher than ever. Years ago, it cost a million dollars for a new e-commerce site, one that you can now create for almost nothing with current tools and technology. The cost of social media done well is low. Marty Zwilling

Intellectual Property 261

Intellectual Property Entrepreneur Angel Groups Social Media 261

Startup Professionals Musings

SEPTEMBER 16, 2020

Employees must learn to develop relationships with real customers, and engage these customers to understand what each customer expects, and how to get customers to engage other customers. Many business leaders still believe that exceptional experiences cost too much, and reduce profit margins and growth.

Customer 395

Customer Social Media Media Employee 395

The Startup Magazine

SEPTEMBER 17, 2023

Aside from the environmental advantages, car sharing is a cost-effective option for company employees to use vehicles. Thanks to this, there is no need for employees to pay for taxis or save up for their own cars; instead, they can access cars from the company’s fleet when necessary for business trips or assignments.

Software Review 158

Software Review Software Mobile Technical Review 158

The Startup Magazine

AUGUST 26, 2024

LLCs and corporations provide limited liability protection but may require more paperwork and higher startup costs. According to This Old House, metal roofing can save up to 40% in energy costs annually, making it an attractive option for eco-conscious homeowners.

Limited Liability Company 157

Limited Liability Company Technical Review Software Review Angel Investor 157

Startup Professionals Musings

AUGUST 19, 2020

Things will cost more than you expect. Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Cash flow out equates to burn rate, and the runway depends on your reserves.

Burn Rate 310

Burn Rate Hockey Stick Salary Angel Investor 310

Rembrandt Communications

SEPTEMBER 1, 2022

But the good news is that you can start selling more and reach your year-end goals cost-effectively… even if you are in a nightmare situation right now due to COVID-19 repercussions, employee turnover, overdue bills, and more. This is not only cost-effective, but it can be a lot of fun and energize everyone involved.

Sales 246

Sales Social Media Analytics Public Relations 246

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 17, 2021

It wasn’t so many years ago that starting a new e-commerce business on the Internet was a complex custom development project, usually costing a million dollars or more. Almost anyone can start a company today on a shoestring budget, following these cost-cutting recommendations: Establish a solid legal structure for your business.

Cost 405

Cost Entrepreneur Burn Rate Social Media 405

YoungUpstarts

OCTOBER 13, 2020

The reduction of the business trips of their employees goes in that direction. All employees can decide where to work and where to live. In this way, we can reduce the time spent in commuting, reduce the environmental impact of our activity, optimize living costs and improve our work-life balance.

Technical Review 278

Technical Review United States China Cofounder 278

Startup Professionals Musings

FEBRUARY 9, 2022

As United Airlines found out a few years ago, delays in addressing customer or vendor problems can cost you more in a single day than many companies make in a year. Top employees are leaving for better opportunities. You must never be too busy on daily issues to prepare for and handle these situations.

Leadership 301

Leadership Founder Salary Demand 301

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

JUNE 4, 2023

You really hearing employees also augments engagement levels and business results. Your employees judge you by body language and cues, like repeating the message back. If possible, let the project be based on the employee's own ideas. These cost very little and have large returns for all.

Leadership 279

Leadership Employee Community Cost 279

Startup Professionals Musings

JUNE 11, 2023

Employees must learn to develop relationships with real customers, and engage these customers to understand what each customer expects, and how to get customers to engage other customers. Many business leaders still believe that exceptional experiences cost too much, and reduce profit margins and growth.

Social Media 328

Social Media Customer Media Employee 328

Startup Professionals Musings

FEBRUARY 7, 2021

In this view the product features, cost, and support are the key to success. The Technician’s Perspective sees the business as a place in which people work to produce inside results for the Technician, producing employee income.

Technical Review 341

Technical Review Social Media Startup Internet 341

The Startup Magazine

APRIL 11, 2024

A growing number of companies are hiring remote employees. Supplying tools and equipment Your employees will need certain equipment and tools to work. There is no legal obligation to supply this equipment to employees. Should you pay for employees’ internet connection? This is something that you need to weigh up.

Hiring 148

Hiring Technical Review Software Review Security 148

Startup Professionals Musings

SEPTEMBER 8, 2021

A few years ago, Safeway and other big retailers struggled with the growing problem of plastic bag cost and pollution, before realizing they could actually sell reusable cloth bags to customers, as a win to all. The entrepreneurs I respect actively look for the next problem, celebrate every success, and see failures as learning events.

Social Media 330

Social Media Entrepreneur Revenue Internet 330

Duct Tape Marketing

OCTOBER 28, 2024

Key Roles & Costs: CMO, Marketing Director, or VP of Marketing Monthly Cost : $15,363 - $29,732 Pros : You get a seasoned marketing expert who’s fully dedicated to your business. Cons : The cost is high, and for many small businesses, it’s just not practical. Cons : Costs add up quickly.

Small Business 80

Small Business Hiring Marketing Jordan 80

Startup Professionals Musings

JULY 30, 2022

Every approach is a compromise between cost, time, and return, so forget your perfectionist tendencies. According to a summary of some classic research , those running their own businesses are happier and healthier than employees, regardless of how much money they make. Use negotiation to come to an agreement or compromise.

Startup 338

Startup Technical Review Restful Partner 338

ReadWriteStart

DECEMBER 20, 2022

While employees are often inspired by success stories and case studies of triumphant innovation tales of large companies, the cost of not innovating is often overlooked. Sharing the stories of organizational failure due to a lack of enterprise innovation can create a sense of urgency in employees and make them understand the stakes.

Software Review 190

Software Review Application Development Technical Review Bankruptcy 190

View from Seed

APRIL 14, 2020

I think you’ll also see more focus on companies that demonstrate capital efficiently, and investors will encourage founders to be more focused on sound unit economics than growth at all costs. Also, companies that do find PMF and can attract capital will experience less competition for customers and employees.

Early Stage 374

Early Stage Software Review Technical Review Due Diligence 374

Startup Professionals Musings

MAY 14, 2023

Things will cost more than you expect. Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Cash flow out equates to burn rate, and the runway depends on your reserves.

Burn Rate 258

Burn Rate Hockey Stick Management Salary 258