New startups actually have an advantage over mature businesses in anticipating and reacting to the four key decisive customer buying moments.
An honest and candid look at startup challenges to save entrepreneurs some grief and money.
There is an old saying that good lawyers run away from risk, while good businessmen run towards risk. Entrepreneurs see “no risk” as meaning “no reward.” In reality, all risks are not the same. Many risks can be managed or calculated to improve growth or provide a competitive edge, while others, like skipping quality checks […]
Venture capitalists (VCs) have long been seen as the top of the pyramid for startup funding sources, but in fact, angel investors now fund over twice as many companies, according to Crunchbase. A major chunk of this activity is provided by the newer class of “super angels,” who often look more like micro-VCs, except that […]
One of the big questions that every entrepreneur struggles with is how much funding they should request from investors in the first round. They know from forums such as Shark Tank on TV that asking for either too much or too little will derail credibility in the eyes of the investor, and leave the entrepreneur with no […]
Most aspiring entrepreneurs are convinced that the strength of their initial idea somehow defines them as a leader, as well as the success potential of their derivative business. In my experience, it’s a lot more complicated than that. It takes leadership ability, as well as a good idea, to make a successful entrepreneur, and great […]
Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. How an entrepreneur answers this question speaks volumes about their knowledge of business realities, customers, confidence, and their ability to handle investor funding.
Every entrepreneur believes that their product or service is memorable and that every customer will quickly see the advantage over competitors. Yet true product differentiation in the eye of the customer is rarely achieved. According to an old but still relevant survey by Bain & Company, 80% of businesses believe they have differentiated offerings, but only 8% of customers agree.
Here are several key trends in organizational cultures and working practices that can boost output, cut costs, and give employees more freedom.
Millennials are in every business, and will likely comprise 50 percent of the workforce by 2020. Their success is now vital to our success.
As a mentor to many aspiring entrepreneurs, I challenge them to think beyond what I call linear extensions to a current trend, such as another “easier-to-use” app for smartphones, a new dating site for pets, or another niche social network. In my experience, these startups usually find the field crowded with competitors, making it hard to get […]