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- Should board members be elected “for life?”
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- Your need for a board grows with complexity.
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Author Archives: Dave Berkus
Are you meeting your customer’s expectations?
First customers are critical. Greatly exceed expectations at all costs. There is so much history behind this insight, and so many stories that illustrate this point. Your first customers for any product or service form your reference base, the important … Continue reading
Have you found your “teacher customer?”
Your customers know what they want more than you do. Find one to teach you. This week’s insight came from personal experience and from a good friend who advanced the notion of the “teacher-customer” years ago. I internalized this phrase, … Continue reading
Everything changes from concept to release.
You can take this headline as a rule, not an exception. You’ll recognize the truism, “No battle plan ever survives contact with the enemy” first stated by German Field Marshall von Moltke in the 19th century. This variant of the … Continue reading
Is your product ready for your market?
You might be here: You have a great new product or service that you and your associates love. Early adopters should climb all over each other for a look. But are you HERE? But what have you done to test … Continue reading
Posted in Finding your ideal niche, Positioning
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Ouch! If I had only learned this before losing millions!
Know your market and competition, or don’t spend a dime on anything else. I love absolutes – statements with no wiggle room for gray-area responses. Well, here is one of those, and it deals with market research first and foremost. … Continue reading
Take only “smart money” investments
This statement could be considered controversial. We have previously made the case that professional investors demand more in the form of restrictive covenants and lower valuations. Now we explore the other side of that coin. Professional investors usually bring “smart … Continue reading
Posted in Raising money
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Need investment capital?
Preparing for the game… If you have been following our recent insights, you’ll be up to speed knowing that professional investors negotiate tough terms, from provisions of control over asset acquisition, eventual sale of the company, future investments, forced co-sale … Continue reading
Posted in Ignition! Starting up, Raising money
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What do you give up when you take outside investors?
Setting your expectations Taking in angel or venture money requires a setting of an entrepreneur’s expectations that may come as a shock at least at first. From the moment such an investor looks seriously at your company, the investor or … Continue reading
Posted in Raising money
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Need money? Read this!
How important is this issue for your business? The subject of raising money is critical to many businesses and a passing option to others, depending upon the capital efficiency of the enterprise. Some businesses require very little capital and the … Continue reading
Posted in Ignition! Starting up, Raising money
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Go ahead! Drive with no speedometer!
Have you ever driven a car that had no speedometer? I had that thrill when a student at the Richard Petty Stockcar School of Driving at a motor speedway in California. With a wide track, angled aggressively at the curves, … Continue reading
