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If you're still in doubt on the power of word-of-mouth from your customers...review this long list of statistics across a wide-range of demographics showing customers overwhelmingly trust their peers not your ad agencies for buying decisions. Read More

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Being first doesn't guarantee success. If anything, being first is fraught with more peril; since you don't have anyone to copy or compare to. And, depending on how innovative your product offering, you might be too early for VCs to get it too, making raising money even harder. Often, when a space heats up, after the first few companies have gone Read More

The internet is a copy machine. When copies are super abundant, stuff which can't be copied becomes scarce and valuable. From my study of the network economy I see roughly eight categories of intangible value that we buy when we pay for something that could be free. In a real sense, these are eight things that are better than free. Eight uncop Read More

Studies of customer profitability in many businesses have found that only a small percentage of accounts are responsible for all of the firm's profits once costs related to acquisition, service, and support have been factored in. The staggering truth is simply this: many customers cost more to serve than they bring in revenue! Read More

Another food franchise that was doomed from the beginning... Read More

The market focus diagram is useful for quickly explaining who your target market is to members of your organization, investors, or potential partners. However, it's really the process of creating the diagram which benefits small business owners and managers. Read More

For entrepreneurs, the importance of picking the right name for a company may rank second only to naming a child. Name consultants are paid millions each year to help decide what to call a company. Now one has come up with a test: San Francisco naming boutique Eat My Words, which has worked for Kinko's, Jamba Juice and other household names. I Read More

When you think of a hook, it is to grab the client's attention long enough for the sales process to begin between the buyer and seller.
Even when you have the most wanted product around, if you do not inform customers where to buy it (the hook in this example), you will see very little quantity sold. Read More