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. Building a minimum viable product, with customer validation. 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.

Intellectual Property 404

Intellectual Property Startup Angel Groups Social Media 404

Startup Professionals Musings

DECEMBER 13, 2019

In the interests of helping you work smarter and last longer, I would like to offer my top ten list of key resource drains to avoid in early businesses and startups, based on my years of advising entrepreneurs and my own business experience: Expanding your product line too quickly for scaling. Make employee management a proactive process.

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

APRIL 8, 2023

The most valuable assets of a new startup are the people on the team, and the most challenging task of the entrepreneur and team leaders is to spend their leadership time and energy productively. The leadership capital, and other costs to support square pegs is a huge startup resource drain. Steamrollers.

Employee 267

Employee Leadership Cofounder Matching 267

Startup Professionals Musings

JANUARY 3, 2022

Startup investors tell me they invest in a new venture with a higher caliber of people, rather than the product or service, and I agree. In my role as a business advisor, I see successful businesses most often emerging from great teams rather than great products. It’s a small cost to prevent a long-term loss.

Hiring 337

Hiring Technical Cofounder Cofounder Retention 337

The Startup Magazine

JUNE 14, 2023

Studies have found that employee turnover results in businesses losing over $1 trillion annually. This staggering number can affect your company’s bottom line, but by providing the right incentives, you can decrease the cost of poor employee retention. Human nature is to improve and feel valued.

Employee 158

Employee Retention Salary Programming 158

Startup Professionals Musings

AUGUST 19, 2022

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. It’s the same for customers and products, where analytics have long proven their value.

Analytics 303

Analytics Hiring Open Source Employee 303

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

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. Automated delivery services – the more people you can take out of the equation, the safer the product. Try to protect the most vulnerable employees.

South Korea 334

South Korea Salary Business Model China 334

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

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

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

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

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. Building a minimum viable product, with customer validation. 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.

Intellectual Property 261

Intellectual Property Entrepreneur Angel Groups Social Media 261

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. However, a crisis can also be a golden opportunity to launch a new product or service, as long as the startup at the origin applies specific methods.

Startup 198

Startup Technical Review Ghana Guerilla 198

The Startup Magazine

DECEMBER 29, 2022

These include high costs, competition, and shifting regulations. Revenue management solutions are used by businesses to maximize profits by monitoring demand for their products or services and adjusting prices accordingly. Using a Scheduling Tool to Automate Employee Schedules. Source: Unsplash. million in 2021.

Management 158

Management Software Review Revenue Cost 158

Startup Professionals Musings

FEBRUARY 9, 2022

Studies show that a positive team culture in an organization can result in 26 percent fewer mistakes, 22 percent higher productivity, 41 percent lower absenteeism, and 30 percent stronger customer satisfaction. Meetings with your team seem to be non-productive. Top employees are leaving for better opportunities.

Leadership 301

Leadership Founder Salary Demand 301

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

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

FEBRUARY 7, 2021

This perspective looks at the business as the product, competing for the customer’s attention against a whole shelf of competitors. In this view the product features, cost, and support are the key to success. The Technician’s Perspective asks: “What work has to be done?”

Technical Review 341

Technical Review Social Media Startup Internet 341

ReadWriteStart

MAY 26, 2022

Creating a well-designed product that’s a hit with users takes a lot of hard work, not to mention a little strategy and luck. Achieving longevity, it seems, is not as simple as creating one successful software product. The creation of a hit software is an impressive feat — especially because 21.5% Figuring Out Your Next Big Move.

Software 171

Software Japan Agile Employee 171

YoungUpstarts

AUGUST 20, 2020

Increase Productivity. Payroll software can increase productivity by tracking the exit and entry time of workers. This means it can be easy to measure employees’ productivity based on the number of completed projects. When things are in the open, workers can easily understand their earnings and those of other employees.

Software 219

Software Management Salary Startup 219

The Startup Magazine

MARCH 6, 2024

The main reasons are: Ever-evolving Customer Base: From mobile phones to customised gadgets, from televisions to Desktop Computers, the consumer base is getting more diverse and assorted, with different age groups, genders, ethnicities, and races demanding different products and services.

Operations 158

Operations Management Software Review Technical Review 158

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

The Startup Magazine

APRIL 25, 2022

A successful company can’t be imagined without a productive, satisfied, and highly engaged workforce. Your job as a business owner should be to put the welfare of your employees at the top of your priorities and improve workplace safety. Also, if you want your actions to be cost-effective they need to be very deliberate.

Software Review 172

Software Review Technical Review Employee Government 172

ReadWriteStart

NOVEMBER 20, 2023

Review Your Software Subscriptions “Reviewing your software subscriptions can be a quick way to reduce costs. Remove any redundant software that adds to your costs without providing tangible benefits. Look for discounts and group rates to reduce costs. ” — Carl Jenson, Founder of Compare Bank.

Software Review 138

Software Review Technical Review Retention Cost 138

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

YoungUpstarts

MARCH 19, 2020

Effective data collection – Automating tasks such as data collection can be a huge help to your employees. percent of employees said the time it takes to enter data into their CRM was an issue. It’s shown that sales teams who integrate automation have seen a 40-60 percent cost reduction and a time savings of 60-70 percent.

Artificial Inteligence 264

Artificial Inteligence Acquisition CTO Chad 264

The Startup Magazine

SEPTEMBER 17, 2023

Therefore, in recent times, there has been a growing emergence of revolutionary services and products capable of mitigating the adverse consequences for the climate and humanity. Aside from the environmental advantages, car sharing is a cost-effective option for company employees to use vehicles.

Software Review 158

Software Review Software Mobile Technical Review 158

The Startup Magazine

MAY 1, 2023

In today’s fast-paced world, businesses with vehicle fleets are constantly seeking ways to improve efficiency and productivity while reducing costs. Properly managing a fleet can not only help businesses reduce costs but also improve customer satisfaction, increase employee safety, and promote environmental sustainability.

Technical Review 154

Technical Review Artificial Inteligence Management Software Review 154

The Startup Magazine

OCTOBER 30, 2022

Even the best software product may cause more harm than good if you use it improperly or do not take into account its limitations. As your team attracts more and more employees and external contractors, your business processes also increase their complexity. Hardware Costs. Scaling Up.

Technical Review 158

Technical Review Technology Software Review Startup 158

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

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

The Startup Magazine

APRIL 25, 2023

Here are a few ways to align workforce planning with financial objectives: Conduct regular analyses of the costs: these costs are associated with hiring, training, and retaining employees. For example, HR can work with Finance to evaluate the cost-effectiveness of different hiring strategies.

Finance 157

Finance Retention Forecast Employee 157

YoungUpstarts

NOVEMBER 11, 2020

A No Meeting Day can improve focus and productivity. Setting aside one day per week to focus on heads-down work without being interrupted by meetings can increase productivity and reduce stress. Context switching is deadly for focus and productivity. Some companies are holding online events for employees’ kids as well.

Management 232

Management Cofounder Software Review Employee 232

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