A common excuse I hear from entrepreneurs for not doing the work is that real market research takes too much time, and costs too much money. Perhaps that was once true, but in this age of the worldwide Internet, big data, and pervasive business intelligence in every industry, you can use the following steps to get the data you need with very little time and cost
6 Value Propositions That Resonate With All Investors
Young entrepreneurs often are so excited by new technology or their latest invention that they forget to translate it into a value proposition that their customers or potential investors can understand and relate to. They become frustrated with investors, senior executives, and even customers who don’t seem to “get it,” with the result that everyone […]
8 Keys To Keeping Up With Technology In Your Business
Technology is so key to every business these days that experienced business-smart but non-tech entrepreneurs are feeling deeper and deeper in the hole. Even if they realize that they need real technical strength at the top, they are not sure how to attract and select the talent and expertise they really need.
7 Business Realities To Temper Invention Excitement
Every inventor seems to think their invention is worth a million dollars, but I haven’t seen anyone pay that much for one yet. 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 […]
How Today’s Full Customer Buying Journey Is Critical
Whether you are an executive, an entrepreneur, a marketer, or a salesperson, it’s time to look beyond how you sell, and focus on how your customers buy.
5 Criteria For Splitting Equity In Your New Venture
I always tell entrepreneurs that two heads are better than one, so the first task in many startups is finding a co-founder or two. You need to find the skills or experience you don’t have in business, technology, or money. So the first question I usually get is what percent of the company or equity […]
How to Keep Your Business From Running Your Life
Every entrepreneur I meet in my role as a small business advisor dreams of making the business run like clockwork, even without them. You are all frustrated when that never happens, even after years of 16-hour days, repeated efforts to hire the right people, and multiple campaigns to delegate more and sign up for less. […]
7 Reasons To Turn The Enemy Into A Strategic Partner
Entrepreneurs seem to have blinders on when looking at competitors. Generally, they are so focused on killing competitors that they fail to see the positive potential of a strategic partnership or some other type of collaborative relationship. Sometimes you have to put aside the emotion and the passion, and just look at what is best […]
A Startup That Imitates, With Innovation, Often Wins
It may not be as sexy, but starting a new business which builds on an existing technology or business model is usually less risky than introducing that ultimate new disruptive technology. There are many levels of innovation that go beyond copying someone else’s idea but stop short of pushing the leading edge (bleeding edge). Many […]
7 Growth Choices That Can Make or Break Your Business
Most of you new venture founders I meet as an angel investor seem convinced that starting the business is the hardest part. You look forward to the day when your business becomes self-sustaining, and settles into a long-term growth curve, ensuring financial success. Unfortunately, sustainability is proving to be a more and more complex challenge […]
8 Steps To Starting A New Venture With Limited Funds
With these steps, you really don’t need a rich uncle or a benefactor in Silicon Valley these days to start your own business and keep ahead of the crowd.