Dave Berkus
Dave Berkus is a noted speaker, author and early stage private equity investor. He is acknowledged as one of the most active angel investors in the country, having made and actively participated in over 87 technology investments during the past decade. He currently manages two angel VC funds (Berkus Technology Ventures, LLC and Kodiak Ventures, L.P.) Dave is past Chairman of the Tech Coast Angels, one of the largest angel networks in the United States. Dave is author of “Basic Berkonomics,” “Berkonomics,” “Advanced Berkonomics,” “Extending the Runway,” and the Small Business Success Collection. Find out more at Berkus.com or contact Dave at dberkus@berkus.com
Latest
Two Very Powerful Words: Great Job!
The best managers we all know are the ones who take the time to praise good work in public, before an employee’s peers. For all of us, we should remember that the best possible way to honor great work is to do so immediately.
“Over-Welcome” Your New Employees
A CEO friend of mine who manages her one hundred person remote workforce as a virtual company told me her story of how she welcomes new employees as she grows her firm. Strike that. She over-welcomes her new employees.
Lighting the Match: Going Viral
It doesn’t happen by accident. Not every new game site is a Club Penguin or Minecraft. Not every social network is a Facebook or Instagram. Not every texting application is a Twitter.
Embrace the Right to Pivot
Plans don’t often work as devised. We are not always smart about the market or the product. Great teams are not bound by their original product or marketing plan. Greatness finds one definition in management’s ability to “pivot,” or change the plan in reaction to its early response from the marketplace.
Use “Switching Costs” to Your Marketing Advantage
Know the cost to move from your existing platform, and estimate the switching costs for moving from a competitor’s product or service to yours. Offer incentives to existing customers to stay, and for competitor’s customers to switch.
Only Those in the Fight Can Win
Entrepreneurism is all about risk. Sometimes, you can reduce your personal risk by taking in other people’s money, starting with a contract from a customer, purchasing a going business, or spinning off an existing revenue-generating portion of an existing business.
Use Video Whenever Possible
Each video, especially those on the front page of a site, must be compelling, to the point, and short. If you are selling a product, a one to two minute demo that is well edited will work wonders for viewer retention.
The “Drop Dead” Question for a Customer Survey
Sean Ellis, the marketing guru behind DropBox and other successes, advises clients that, “The most important question on a survey is, ‘How would you feel if you could no longer use this product?'”
Do You Really Want to be the First to Market?
If you are going to be first in a market, plan on a very long time from introduction to acceptance. Triple the time you estimate for the effort, and add four times the cost you estimated for marketing.
The LALA School of Marketing
Let’s focus not upon the process of marketing and positioning, but on you. How should you become the best marketer you can be, even if you are a first time entrepreneur or a seasoned CEO?