Price Your Product to Capture the Value You Create
Are you leaving money on the table by pricing products based on costs? Markets Don't Set Prices According to Wharton marketing professors Jagmohan Raju and John Zhang, most companies either…
Why Have a Business Plan?
Surviving First Contact “Everyone has a plan until they get punched in the mouth.” – Mike Tyson “No battle plan survives contact with the enemy.” – Helmut von Moltke, German…
Transform Your Business Model to Survive – and Thrive – During a Pandemic
The Covid-19 pandemic has brought the whole world to its knees. More than half the world’s population is under some kind of shelter in place order. Airlines are grounded. Freeways…
Why Should Startups Have Financial Forecasts?
Are you ready to dive into your new business idea? Most are. Most thrive from the momentum of creating, failing, learning, and repeat. But there is another side to having…
First, How Will Your Business Make Money?
Your venture needs to bring in revenues that exceed your costs if you would like it to be considered a business rather than a hobby. To attract investors and partners,…
Achieve Your Goals by Measuring Your Efforts
I spent nine years running a US subsidiary of a Germany company. Their obsession (at least the group I worked for) with metrics gave me an appreciation for the power…
How to Start a Business Consulting Firm
Consulting exists because an individual or a firm offers expertise in a field that another individual or organization is not able to provide, solve, or achieve for itself. Clients hire…
Keeping Your Minimum Viable Product Lean and Simple
“Scope creep” (or feature creep) is an insidious disease that kills more good startups than any other, especially high-tech ones, and yet most founders (who may be the cause) never…
How to Start a Bank
Question: Are the steps necessary to open a bank in Alabama the same as in Angola? Answer: pretty much, yes. If you are surprised, don’t be. Certainly, there will be…
Legal Factors in Your PESTEL Analysis
Part 7 of 7 Introduction A government’s rules and regulations — its laws — will always have a macroeconomic impact on the success of any business. And, for companies that…