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Tag Archives: Finance
I really enjoy reading Jason Fried’s articles in Inc. Magazine. It is truly refreshing to read a fresh approach to business that is rooted in customers and products. Recently Jason wrote about hiring an administrative assistant. At first blush … Continue reading
Make it better or shut it down – Keeping your focus
I am a big fan of Jason Fried of 37Signals. I think what they have accomplished is not only amazing but sets a model for others to pursue. Recently Jason wrote a post for Inc. Magazine titled “Walking Away From … Continue reading
Posted in Financial Models
Tagged 37signals, Business, Business model, Business plan, Cash flow, Chicago, Entrepreneur, Fast Company, Finance, financial model, Financial plan, financing your start-up, Free Cash Flow, Home, Jason, Marketing, Marketing and Advertising, Planning, Revenue, Ruby on Rails, Small business, Start-up, Startup company, Twitter, Value proposition
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Naming your product
Many of my clients are creating a new product. Some of these clients are brand new companies and others are existing service providers who have recently developed a product. When you are a brand new company no matter what … Continue reading
Posted in Financial Models
Tagged Business, Business plan, Business Services, Cash flow, Company, Customer, Customer Management, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Free Cash Flow, Investment, Marketing, Marketing and Advertising, Marketing plan, Models, Planning, Revenue, Service provider, Small business, Start-up, startup, Startup company, Value proposition
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Negotiations in business – practice, practice, practice
Doing business is a series of negotiations. From the moment you plan to start a business to serving your customer, you find yourself negotiating. For most people negotiations brings to mind price, but there are many other areas … Continue reading
Posted in Financial Models
Tagged Business, Business plan, Businessperson, Cash flow, Customer, Customer Service, Entrepreneur, Extended warranty, Finance, Financial plan, financing your start-up, Marketing, Marketing and Advertising, Negotiation, Planning, Price, Revenue, Service provider, Small business, Start-up, startup, Startup company, Value proposition
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What is an angel investor?
Following the launch of the Plains Angels this week, I have had several people ask me what an Angel Investor is. According to the Angel Capital Association: An angel is a high net-worth individual who invests his or her own … Continue reading
Posted in Financial Models
Tagged Angel Capital Association, Angel investor, Angelsoft, Business, Business model, Business plan, Cash flow, Entrepreneur, Executive summary, Finance, financial model, Financial plan, financing your start-up, Investment, Investor, Planning, Revenue, Small business, Start-up, startup, Startup company, Venture capital
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Partnerships – a guaranteed divorce
Many of the clients I advise are in partnerships. It is a common situation. Two or more people get together to solve a problem and the next thing you know a partnership is born. If you listen to the first-time … Continue reading
Posted in Financial Models
Tagged Articles of Partnership, Business, Business plan, Consulting, Entrepreneur, Finance, Financial plan, financing your start-up, Free Cash Flow, Investment, Marketing, Marketing and Advertising, Marketing plan, Planning, Small business, Start-up, Startup company, Value proposition
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The paradox of a new idea
Recently I drove by a closed restaurant. It had been a steakhouse most recently. I thought about how tough it would be to compete against the other steak houses in the area and wondered if that was why it … Continue reading
Posted in Financial Models
Tagged Accountancy, Business, Business model, Business plan, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, German, German language, Groupon, Marketing, Marketing and Advertising, Marketing plan, Planning, Restaurant, Small business, Startup company, Steakhouse, Value proposition, Wikipedia, Yahoo
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Do not compete on price, unless…
There was an interesting article about a new start-up company called AutoSlash in the New York Times this past weekend. AutoSlash says they will get you the best price on a car rental by constantly checking for better deals even … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Car rental, Cash flow, Customer, Entrepreneur, Finance, financial model, financing your start-up, Hertz, Marketing, Marketing and Advertising, New York Times, Planning, Revenue, Small business, Startup company, Transportation, United States, Value proposition, Walgreens
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So, whos ready to step up to the next level?
Growing a business quickly requires that you can bring new employees into your business and bring them up to speed in their tasks. Too often, bringing a new person on requires one of your best employees to take precious time … Continue reading
You get what you measure for
I was taught that saying many years ago. You get what you measure for. If you measure only for profit, you may have fewer but profitable sales. If you measure for sales volume, you may not get the profit … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Cash flow, Customer, Customer satisfaction, Customer Service, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Gross margin, Investment, Marketing, Marketing and Advertising, Measurement, Planning, Return on capital, Revenue, Small business, Start-up, Startup company
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New owners are at a disadvantage…don’t make it worse
It is truly a disadvantage to be a new business owner. To start with, you are an unknown to most potential customers. You probably do not have a long list of referral accounts or a line of customers out your … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Consulting, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Hiscox, Liability insurance, Marketing, Professional liability insurance, Revenue, Small business, Start-up, Startup company, United States
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“Let’s deal with it later…” No, let’s not.
A guy comes up with a business idea. It is a pretty good idea. He starts working on it. The idea takes hold. Others start encouraging him. Customers begin to say a tentative “yes” to his offer. The guy gets … Continue reading
Make the customer’s life easier. Tell them the price!
Price gets in the way of doing business. For those who have sold for a living, you could probably each write a book about getting around the price issue. Yet for most businesses this is a self-inflicted wound. Today, the … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Cash flow, Customer, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Free shipping, Launchpad, Lawyer, Marketing and Advertising, Revenue, Small business, Start-up, Startup company
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1% of 4% of 7 Billion. Who’s in your market?
Big markets attract a lot of attention. After all, with that many potential customers you can see a path to huge revenues. The challenge is getting heard by that big market. On the flip side, a small market does not … Continue reading
The first 10 customers
It is inevitable that a new client will present his or her marketing plan, stating the market size and the percentage of the market they are going to gain. The math may be good but the business plan is not. … Continue reading