Enter Market the Right Way

For startups that have developed a new product and try to enter the market, there are not many options. As an ex-startup founder, I cannot overestimate how important it is to know and understand them. Otherwise, startups are doomed to fail. New product, new market When to consider it: you offer dramatically new technology and …

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Make What You Can Sell

Have you ever heard about the Lean Startup? It can boil down to one sentence: “Don’t sell what you can make; make what you can sell”. In the beginning, all startups search for the right product and market and face the same problem: they have no idea what people really want. Surprisingly, people don’t know …

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Build Customer Trust and Loyalty

There is a common misconception that every business should aggressively push its products to become successful. Usually, it results in unexpected behavior of all types. For instance, customers become pushy, overly talkative or too agreeable – and make one-time deals. However, businesses can achieve much better results in the long term. Specifically, they can combine …

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Write Killer Business Plan

Young entrepreneurs try the same business plan over again without any success and ask themselves why it never gets funding. The fact: a business plan has 1 minute to catch the investor’s eye. If it’s messy, poorly written or has typos, it ends up in the trash can. For the investors don’t waste time on …

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Price Impacts Perceived Value

The common rule is: “The higher the quality, the higher the price”. Yet it works backward as well. In the experiment of German neuro-economist Hilke Plassman, participants drank identical wine with different price tags: 10$ and 80$. As the result, the expensive wine “tastes” much better!In short: Price normally triggers the pain area in the …

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Cross Train Your Employees

Training employees to do multiple jobs may have uncovered potential: It increases the value of each employee. People can fill in for each other. Employees appear to be good at something else and it’s a good way to discover hidden talents. They understand better how the company works as a whole. Be aware of pitfalls …

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Make Meetings More Productive

Face-to-face meetings are still the most popular business communication. Yet there are several problems with them: Meetings produce very little result. People waste the precious time. Participants just pretend to be listening. Employees tend to agree with the boss. How to make meetings more productive? Invite people as few as possible and only if it’s …

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