As an entrepreneur, your personal integrity is critical for getting and keeping the support of investors and team members, and your company’s integrity is critical for getting and keeping customers and vendors. But in a practical sense, what does that really mean?
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5 Ways to See If Your Business Integrity is Showing
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From http://blog.startupprofessionals.com 4469 days ago
10 Mental Toughness Fundamentals for Entrepreneurs
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From http://blog.startupprofessionals.com 4471 days ago
In sports, mental toughness is defined as the ability to focus on and execute solutions, especially in the face of adversity. If anyone in business ever needed mental toughness, it’s an entrepreneur. Investors tell me that startup success is all about execution, all while facing determined competit
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10 Ways to Make Your Customer Experience Stand Out
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From http://blog.startupprofessionals.com 4472 days ago
A while back, I wrote about the value of Michael Porter’s Five Forces framework for analyzing the competitive environment, and using every opportunity to highlight and emphasize your relative advantages, whether they be price, features, or bargaining power. But once you start selling products, all
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5 Dysfunctions That Make Your Startup Unfundable
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From http://blog.startupprofessionals.com 4473 days ago
Every investor I know can tell you at least one story about a great startup team that failed, even though it was well-funded and staffed with qualified and smart people. The reason almost always given is that the team didn’t work well together (dysfunctional). What does that really mean?
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Too Many Leaders Still Rely on Their ‘Golden Gut’
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From http://blog.startupprofessionals.com 4474 days ago
still know some entrepreneurs who boast of simply following their gut instincts, rather than listen to anyone or any data, to make strategic decisions. We’ve all worked with autocratic leaders in large companies who seem to thrive in this mode. They all forget or ignore the high-profile failures th
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Ten High Risk Drivers Every Entrepreneur Faces
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From http://blog.startupprofessionals.com 4475 days ago
You have probably heard plenty of times that being an entrepreneur is a risky business, and investors talk all the time about reducing the risk. Yet everyone seems to have their own view of key risk drivers for startups, and I’m no exception. I don’t agree, for example, that the first priority is t
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Entitlements in Business Should Never Replace Merit
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From http://blog.startupprofessionals.com 4477 days ago
Where did this pervasive sense of entitlement in our business culture come from? I’ve written about this before, but I was surprised again recently at a conference for startups when a couple of entrepreneurs started berating investors for their low rate of funding for early-stage startups. It sound
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Customer Loyalty Can Be a Startup Competitive Edge
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From http://blog.startupprofessionals.com 4478 days ago
You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. A satisfied customer is necessary, but not sufficient, to be a loyal customer who will come back repeatedly, refer their friends and family to you, and be faithful even when your p
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How to Make a Business Mentoring Relationship Work
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From http://blog.startupprofessionals.com 4479 days ago
I’m a big fan of mentoring in business, and have been at different times on both the contributing and receiving end of the process. These days, I seem to often hear from entrepreneurs who are struggling to find a mentor, or complaining about their lack of effectiveness. Like any other relationship,
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How to Gauge Business Potential for Your Invention
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From http://blog.startupprofessionals.com 4480 days ago
I’m often approached by people who claim to have invented the next big thing, and ask me how much it’s worth, or complain that they can’t find an investor who will fund it. The honest answer is that ideas and new technologies are worth nothing, outside the context of a specific entrepreneur and a s
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