Unlocking Customer Outcomes: The Key to Startup Success

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One of the most challenging aspects of navigating startup development is identifying and validating customer-desired outcomes. Understanding the customer's needs can be difficult to determine as customers are not always able to articulate their desired results. Founders make several assumptions about these outcomes that need to be evaluated, prioritized, and validated through customer engagement, market … Continue reading Unlocking Customer Outcomes: The Key to Startup Success

Startup Failure: Five Avoidable Challenges

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Many articles describe the challenges that entrepreneurs face as they launch new enterprises. The statistics certainly validate how difficult starting a new business can be for even experienced entrepreneurs. However, it is challenging to provide current statistics on startup failure rates, as these rates can vary depending on various factors, such as the industry, location, … Continue reading Startup Failure: Five Avoidable Challenges

The Power of Crowdsourcing for Startups

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People frequently ask entrepreneurs how they come up with new ideas. This answer is not as straightforward as one might think. There are many ways that entrepreneurs and innovators come up with new ideas, products, and processes. Even once you have a list of idea-generating sources, it is only half the story. As it turns … Continue reading The Power of Crowdsourcing for Startups

CRM’s Essential Role in Early Venture Development

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Summary Via ChatGPT. This article discusses the importance of implementing a customer relationship management (CRM) strategy in the early stages of a startup. The author argues that CRM is not just about capturing customer data during the sales process, but also about establishing a customer-centric mindset and managing all relevant stakeholder relationships. The article suggests … Continue reading CRM’s Essential Role in Early Venture Development

Pricing Strategies for Startups

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In a recent class, we discussed how startups should approach pricing. When you think about how important pricing is to customer acquisition, market perception of value, and venture profitability, it is surprising that founders commonly consider pricing strategies quite late in business model development. Yet, pricing is an integral part of the overall marketing strategy. … Continue reading Pricing Strategies for Startups

Product Positioning for Startups

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One of the significant decisions startups face is how to best position their product offering for market entry. The final decision is challenging even when you conduct extensive customer discovery and competitive analysis and speak with fellow entrepreneurs and industry experts. In this post, I will talk about the pieces of information that you gather … Continue reading Product Positioning for Startups

Selecting a Legal Structure for Your Startup

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Entrepreneurs can quickly become overwhelmed by the many actions required to establish their new venture as a legal entity that meets all local and federal regulations. In many countries, the regulatory hurdles can be a barrier to entry in their own right. While there are several actions to take when starting a new company, I … Continue reading Selecting a Legal Structure for Your Startup

The Reading Deck: Early Business Plan Document

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No idea or company attracts resources to help it grow unless the entrepreneur can communicate the opportunity clearly to potential stakeholders, whether they are investors, bank loan officers, corporate partners, acquirers, suppliers, or employees. Over the years, I have worked with thousands of startup founders and teams and have honed in on a suite of … Continue reading The Reading Deck: Early Business Plan Document

Startup Finance | Crowdfunding

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For startups, crowdfunding is exploding as a viable alternative to more conventional early funding sources. In 2021, the global crowdfunding market was valued at $13.64 billion and is expected to double by 2028, according to Statista. U.S. and Canadian markets accounted for the most significant volume of funds raised at 73.9 Billion. During this period, … Continue reading Startup Finance | Crowdfunding

Intellectual Property | Trademark Strategy for Startups

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As a new semester begins, I have a new wave of startups looking for guidance in many aspects of business model formation, strategic planning, and project execution. However, one area that causes founders a lot of anxiety is their venture's naming. The challenges typically fall into two categories; either the founder can't come up with … Continue reading Intellectual Property | Trademark Strategy for Startups