What’s a Real Entrepreneur?

In talking to entrepreneurs about starting a business there is a great deal of variety in energy, ideas, skills, experience, money, commitment, young entrepreneur and business planand time required. If you have none of these, we suggest not wasting your time starting until you figure some of them out. If you have at least some of them, it is generally worth the effort to determine the potential and think about a program. Even with this advice, we frequently hear numerous frustrations with the process:

“Doing a startup mostly s…ks.  It’s hard in every way.  You have to do all the sh…y work no one in a big company wants to do, especially you with your fancy degree and overblown ego. You work long hours.  You make s..t for money. You worry about paying rent. But, above all, it’s hard emotionally.  You’re a failure until you’re not.” [Read more…]

Demographics Do Not Lie

Social Media Demographics BreakdownDemographics is the study of how a population based on factors such as age, race, sex, economic status, education, income, and employment affect various outcomes. Demographics are typically used to learn more about a population’s characteristics.  Businesses must rely on demographics as a key method for planning.

Labor force

Back in 1960, the American labor force was dominated by 21-45 year old white males.  Today, we have a far more diverse labor force when viewed according to age, sex, race, and ethnicity.  These changes in the labor force require an entirely different structure of practices, strategies, and culture. [Read more…]

The Power of Positive Thinking

Positive Thinking is Vital to Startup SuccessHave you ever watched one year olds learn to walk?  If you have, you are sure to notice a number of similar experiences.  While every child learns how to walk in a similar way, each one’s experience is unique as they get up, fall down, get up, and keep trying. What is amazing is their determination, lack of fear, commitment, practice, and continuing efforts to test the situation.   That’s the power of positive thinking.  As a startup and turnaround business consultant, I constantly hear, read advice, and see comments focused on worries, concerns, caution, in essence, all the old paradigms related to bringing about business success. While some of these perceptions may have validity in certain situations, they’re generally not productive. [Read more…]

Pricing – Freemium the Maligned Option?

Pricing for Startups

Pricing – Freemium the Maligned OptionAs everyone in business knows, pricing is key.  Pricing of products and services for startups is far more complicated today than even ten years ago.   A good pricing strategy can involve new tactics such as freemium, special discounts, variable pricing, etc.

To maximize a company’s marketing efforts a well-thought-through pricing strategy can accelerate segmentation, enhance the value of your branding, maximize opportunities to remain competitive, and generate sustainable profits.

The important concept to keep in mind when considering pricing strategy is to aggressively manage and innovate one’s entire pricing package rather than simply reacting to short-term changes in the market or competitive pressures. [Read more…]

Internet Marketing – The How, Not the What

internet marketingThere are thousands of consultants who will tell you what to do to be a success in Internet Marketing.  The real issue consulting clients face, however, is to get advice on how clients can develop and execute an online marketing strategy.

I have found five areas where consulting related articles, books, webinars, training, particularly with the how, fall short:

  • They do not provide the expertise needed to execute a marketing effort.
  • They fail to understand a client’s needs, goals, capabilities and finances.
  • They offer no way to understand a client’s interests and marketing hot buttons as they relate to their customer/s.
  • They fail to integrate the different elements of a marketing program. As a consequence, consultants do not offer guidance to the client so that the weakest link in a client’s marketing program does not ruin its overall marketing effort.
  • They do not help a client determine goals and the measurement parameters necessary to help them improve their efforts for success.

[Read more…]

Traditional Marketing Categories are Dead

Traditional Marketing Categories are Dead

Traditional Marketing Categories are Dead

Kodak, Twinkies, General Motors, American Airlines, Friendly’s Ice Cream and, Filene’s basement are examples of traditionally strong companies that filed for bankruptcy in recent years.  There are all kinds of proposed reasons, but, basically, they could not change.  I.B.M. and Samsung are probably the best examples of companies that have dramatically changed and are experiencing renewed growth and profitability.

My argument is that rational structures, marketing, and even products are dead or slowly dying.  Start-Ups and small businesses have unique opportunities to capitalize on the changes.  Larger companies simply refuse to acknowledge the changes and are frequently unable to move fast enough.

For example, I have over 30 years experience in the apparel and textile industries, and we simply could not adapt fast enough to the move to China, which mostly happened in a five year period.  In contrast, importers were able to establish organizations with virtually no overhead and market better products with lower prices, greater efficiencies, and lower investment to capture these markets.

[Read more…]