Early adopters are critical to any company that introduces a new product or service. Therefore, identifying the right early adopters is an important element in the company’s business model and go-to-market strategy.
How to select your target market
Often startup companies develop a technology that has multiple applications and potential markets. Most entrepreneurs have learned that a startup company must focus on a single market, at least in its early stages. I would argue that this holds true for latter stages too. Trying to address multiple markets, with conflicting customer needs, can spell […]
The Right Budget for Startups
“In preparing for battle I have always found that plans are useless, but planning is indispensable.” (Dwight D. Eisenhower). Make no mistake, every company, or organization needs to develop a plan for how it intends to achieve its goals. Even though your plan is likely to be useless the moment you leave the building. Nevertheless, […]
3 Business Tips for Small Business Entrepreneurs
This post was originally written for my wife’s blog addressing aspiring cake decorators. However, after I wrote it, I realized that it’s very relevant for any small business entrepreneur. So, I adapted it to address that broader audience. Some of my examples are taken from the world of cake decorators. And yet, they are still very relevant to […]
The First Step to Market Adoption
One of the most critical challenges for start-up companies is getting their product to be successfully adopted in their target market. This is a significant challenge to any company. Especially, a new company with very limited resources and no brand recognition. In my experience, the first critical step to market adoption is identifying and winning […]
Business Plan Lessons Learned – Part 1
In the course of my work with entrepreneurs and start-up teams I’m often asked about business plans. Do we really need one? What are the main topics? Should we do a detailed 30-page version, or is a PowerPoint presentation good enough? Even though many books, articles, and blogs have been written about business plans, I […]
3 Key Questions for a New Start-up
When I work with entrepreneurs on developing their ideas, and starting their new ventures, I always start off with three main questions (and several other follow-on questions). Question 1: What problem or need are you trying to solve? First, a good idea must address a real problem or a need that people (or businesses) have. In […]