mohit | Shared With: Everyone - Aug 06 2008 | marketing, startups, entrepreneurship, career, wealth
Quoted: The vast majority — 80% — either started their own business or worked for a small company that saw explosive growth. And almost all of them made their fortune in a big lump sum after many years of effort.
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Quoted: Consultant Joel Kurtzman, who evaluated 350 startups for his book Startups That Work, found that successful outlets usually have a team of two or three founders who share a common vision; the success rate for this model was a remarkable 50%. The odds for solo founders were more like the oft-quoted one in 10, in part because they often found themselves working at cross-purposes with hired guns who see things differently.ShareViewed: 12 Times- mohit | Shared With: Everyone - Apr 17 2008 | startups, marketing, entrepreneurship
Quoted: Understanding what makes your product a "must have" painkiller versus a "nice to have" vitamin is the key to successful marketing. Identifying the key pain points and how your product solves them in a simple value proposition is job one. There are sometimes "trigger events" that cause these pain points. These "trigger events" cause your product to convert from a "vitamin" to a "painkiller" for customers. Qualifying your sales leads by trigger events and pain points will help focus your sales and marketing efforts and result in much higher win ratios.
ShareViewed: 4 Times - mohit | Shared With: Everyone - Sep 24 2007 | startups, Entrepreneurship, marketing
I agree re: finding the right balance.
Quoted: Although there's nothing wrong with eventually having a big market opportunity (in fact, I encourage it, and investors require it). I think success is often much more correlated with a startup's ability to identify (and sell) individual customers as early in the process as possible than waiting to serve a much bigger market
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The trick is finding the right balance: Enough of a market so you build something that is relevant for many, but not so broad that the market becomes hypothetical.ShareViewed: 3 Times - mohit | Shared With: Everyone - Jul 19 2007 | toread, books, entrepreneurship, startups, marketing
Recommended by Marc Andreessen (http://blog.pmarca.com/2007/07/book-of-the-w-1.html ):
In a nutshell, Steve proposes that companies need a Customer Development process that complements their Product Development Process. And he lays out exactly what he thinks that Customer Development process should be. This goes directly to the theory of Product/Market Fit that I have discussed on this blog before -- in this book, Steve provides a roadmap for how to get to Product/Market Fit.
ShareViewed: 2 Times - mohit | Shared With: Everyone - Jul 17 2007 | marketing, startups, Entrepreneurship
Quoted: The first is what I'll call "Big Bang". This was very popular in the 1990s, particularly for venture-funded startups. In this approach, the sequence of events goes something like this:
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The second approach, the one I do like, is more like Darwinian evolution. This is where you start as early as possible, experiment as much as possible, as efficiently as possible and respond to feedback as quickly as humanly possible. Keep doing more of what works, and less of what doesn't. In my experience, this works really well.ShareViewed: 2 Times
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