As a market, they don’t respond to a well-thought out strategy. No amount of research will reveal any hot buttons. And tactics that seem to be working at any point in time are really simply a matter of luck.
They’re like fingerprints, every one a unique identity. No matter their age, capitalization, ownership structure, industry, revenue, or profitability, there’s no way to build typical customer profiles. Executive titles and experience levels often don’t matter. And sometimes they do. Continue reading
In his book, Start With Why, Simon Sinek shares the idea that great leaders think, act, and communicate based on the Golden Circle.
I’m discovering that Think-Act-Communicate (TAC) is also an effective framework for strategic and tactical planning, particularly for startups and small companies, who don’t need the bloated planning frameworks often used in business. Continue reading
Entrepreneurs are naturals at finding. We easily find business opportunities and new markets. We quickly find people who want to work with us by sharing our vision. And if we have the patience, adaptability, and tenacity, we find enough customers to build a business.
But once we make the find, we have a tendency to direct our time, attention, and resources away from it. We often lose interest with the people and organizations who take big risks in buying from us, working with us, investing in us, and partnering with us: the early adopters who helped us build the foundation of a business. Continue reading
The ambitions may have changed but reality hasn’t.
More first-time entrepreneurs have grander plans than those of the past. Gone is the desire to simply create a job for themselves or a small business that employs a few people. Today’s first-timers believe they can build the next Facebook, Starbucks, or Subway, and that’s good. Entrepreneurs need vision, ambition, and BHAGs. There’s nothing we can do – or should do – to temper their energy and enthusiasm. Continue reading
I often work from a co-working space, know several people who have started, run and invested in them, and know even more who work at them.
From what I’ve seen, heard, read, and experienced, co-working is here to stay. It’s become the new way of officing for mobile and traveling professionals, sole practitioners, and startup founders. Even big companies are retrofitting their facilities to mimic co-working spaces, or even creating them for their own employees. Continue reading
There’s a group of people who rarely get noticed.
They don’t get recognition from customers and employees, investors don’t include them in due diligence, and the community doesn’t ask about them. They put up with long hours, crazy ideas, and mood swings. They tolerate our visions of doing big things and our obsession with seemingly ridiculous details. Continue reading
It used to be that an entrepreneur came up with an idea that he was passionate about, turned it into a product or service, then went out and tried to sell it. Over time, he would learn whether or not customers would buy it, but the passion kept him going through the ups and downs, twists and turns. To make the business take off required a great deal of creativity, ingenuity, and luck, which helped explain why so many of us used to call entrepreneurship a work of art. Continue reading