Historically, the bulk of the Valley’s successful companies haven’t been the rocketship consumer successes like Google and Facebook. They’ve been the steady doubles, base-hits, triples, and home runs of the companies who sell software to businesses.
And in a time when Google and Facebook alone control some 80% of all digital ad budgets, that business model of selling something is starting to look better and better.
One of the few entrepreneurs to bridge these two worlds– selling intuitive, easy to use products to companies– and build a multi-billion public company out of it was Aaron Levie. Unlike a Marc Benioff, Levie didn’t come from the enterprise world. He never worked a day at Oracle or IBM. He came up with the idea in college.
It was ...
As a bootstrapper, I had a complicated relationship with the topic of acquisitions. I rejected the idea that an Exit Strategy was an important part of running a great business.
First, I believe that entrepreneurs are conditioned by our media, society, peers and their investors (if they have them), to think that selling their business is the ultimate manifestation of success.
Now that I have experienced the arc of scaling a profitable business and achieving a positive cash exit, I see the alternatives to selling more clearly.
On the one hand, I have appreciation for the commitment and vision it takes to turn down a lucrative, flattering, possibly life-changing offer in exchange for continuing to roll the dice and play the game.
On the other ...
"Do I bet the farm or hold it all back?"
We often wonder whether every dollar of our personal savings should be going toward our startup, or toward our safety.
On the one hand, if we don't bet our cash on our startup, we're starving the very thing we need to grow with. On the other hand, if we spend that money, we'll never be able to sleep at night knowing our safe landing has been pulled away.
Don't spend it all. Seriously — don't.
There's a point at which depleting all of our savings and personal cushion works against us. We start shifting our focus from "growing the business" to "surviving personally" (more than it already is!) and at that point, we're in a downward spiral.
I...
You’d think that by now nearly everyone would be sold on the idea of SaaS, cloud services, and the power and flexibility of a subscription service to meet their needs.
You’d think.
Unfortunately, not everyone is convinced that SaaS is a legitimate model for software usage and purchase.
I’m going to go through their main objections one by one. What you need to know at the outset is that many B2B decision makers view cloud solutions with a heavy dose of skepticism. As many as 49% of companies are concerned about data and the security of their information in a cloud context.
Let me set the stage for what you’re about to read.
What makes getting a startup off the ground challenging is the fact that no one knows if the offering has value until it has generated revenue. Every startup faces the challenge of acquiring its first few customers.
Unfortunately, there is no one size fits all step by step guide to finding your first 100 customers because there are so many variables to contend with.
So how do you get from “no one knows you” to “your first 100 customers paying you for your product or service”?
To help you get your first customers we also set out to investigate how startups have gone through the process. We found that they don’t really rely on a single channel to bring in lots of users. Rather they explore different channels and sources. By doing so they bui...
During last week’s wide-ranging conversation about evaluating your ideas, we touched on the idea of “niching”: paring down your target audience until you find the exact set of people you want to help.
So once you’ve taken that step of committing to a core audience and decided who you’re for (and who you’re not), the next question becomes: how do you get in front of those target customers? And, more importantly: how do you figure out what they want from your product?
“[It’s about] lots and lots and lots of living with the customer. Live and breathe the customer – they will show you the right path.”
The dream, of course, is to put together a quick survey, send it out to a mailing list of 10,000 of your ideal users, and come back to find your ...
I have a confession to make! I am kind of a jerk. I make people feel uncomfortable. Not all the time and not all the people. I do it mostly to Product Owners or the equivalent titles depending on the methodology they follow.
Why I do it, you might ask? It’s good for them and me. How I do it, you might ask? Very simple, I ask them what is the next most important thing to work on and why. Try it yourself. It works miracles. 9 out of 10 times you will hear mumbling or something like “I feel it that way”. Not very scientific and not very convincing.
I’ll pay for my sins tough, by telling you how to help yourselves, your PO and your team out, by finding the right answer – the scientific way.
So here is a simple backlog for you:
Classic ...
About time we had a little word on siloed organizations—many departments and sometimes even frontiers! Does this look familiar?
Nodding head? Ok!
What does this look like to your customers?
They don’t see silos—they see content!
It starts with perspective — different teams have a different idea on the role of content. Let’s look at a typical marketing team — lots of people with a tendency to wear black. And then there is the guy who runs the show and is responsible for content marketing.
This role did not exist 5 years ago because something has radically changed. As Lori from Forrester said: “74% of business buyers told Forrester they conduct more than half of their research online before making an offline...
Ten years ago, Andy Dunn was at Stanford’s Graduate School of Business. He was torn between taking a high paying job and following the lead of Brian Spaly– a classmate who was selling better-fitting pants out of the back of his car.
That company would become Bonobos, a promising survivor in an otherwise graveyard of so-called “ecommerce 2.0” upstarts.
Spaly and Dunn had a contentious falling out; with Dunn keeping Bonobos and Spaly going on to build (and sell) TrunkClub. Dunn is still plugging away with Bonobos, hoping to reinvent the way brands are built in an online world.
He says he’s now confident that Bonobos will survive. But continuing to build it into a stand-alone ecommerce company is another matter. An even bigger challenge: Maki...
Do you have a million-dollar business idea in your mind and don’t know HOW to proceed? Whether it is worth, investing time, money and effort?
This is the question that haunts many entrepreneurs and stops them from working on their business idea. The reason behind this is lack of insightful data available online to guide one through the steps. That’s where my motivation comes from when writing this article.
Hopefully, by the end, you’ll understand WHAT to do, HOW to do, WHEN to do and WHY to do things if you have a great new business idea.
Stop being a wantrepreneur. Think of a new business idea, do a set of exercises or validations before taking a decision on whether to move forward with the business idea or not and make a business out of...