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

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?

The 3-Legged Stool of Marketing Excellence

Increase revenues, decrease costs, and better serve customers. IDC: that could be a motto or even a manifesto for any good management team. And it’s a good place to start a focus upon positioning.

Create a Ten Percent Profit Model

Most entrepreneurs, when starting to model their business operations using a spreadsheet, start with expected revenue by month. Then they calculate cost of sales, and then project their expenses, to find the bottom line profit or loss each projected month.