Brands are people first. Customers are people too, so customers tend to take their relationship with a brand personally. Thus it’s not a surprise that people love their favorite smartphone brand, cringe when you mention their cable company, or even hate the mention of a particular bank. Startups, as well as every existing business, need […]
Value
5 Ways to Turn Today’s Leads into Tomorrow’s Customers
There are a lot of statistics out there that say successful businesses should end up closing about one out of every three calls. But I know from experience that this is often not the case, and I’ll tell you how I learned that. A few years ago I was driving a plumber phone leads from different ad campaigns like […]
Are You Really Different?
We know the importance of differentiating ourselves in attempting to win business. We try to do this at our web sites, often posting comparisons and charts showing how we have more features and functions than the alternatives. Too often, we think differentiation is about checking more feature boxes, having a richer product, than the competition. […]
Avoid the Race to Zero
When do you sell your company? Obviously we all want to sell at the top. And there is the problem. How do you know when you are at or near that right point to sell for maximum value? Those of us in the business of calculating (guessing) this mythical peak in value often make the […]
Is Cold Calling Contrary to Being a Go-Giver?
A reader recently emailed me the following: “Hi Bob, I love being in sales and want to make a difference. The company I just started working for is very focused on cold calling, and closing on the first appointment, which seems contrary to the approach in your and John’s book? I love this company but how […]
When Did Profit Become a Bad Word for Entrepreneurs?
As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. They seem to feel it conveys a message of personal enrichment at the expense of others. My view is that the purpose of every business is to make a profit, as fuel […]
Can Sales Really Create Value?
Leanne Hoagland-Smith wrote an outstanding post, The Ultimate Sales Goal Is Connecting With Customer Value Drivers, Not Creating Value! In the post, Leanne hits head on what too many sales people miss about value. We tend to think of value and value proposition in our terms. Instead, it’s the customer that defines value! For us to […]
Looking for Investment? Understand Startup Valuation
How much equity do I have to give to angel investors? If you’re a startup founder looking for angel investment, you need to understand valuation. It’s a buzzword that people use in other contexts, too, which adds to the confusion. But it’s ultimately what determines how much of your company your investors will get, and […]
What is the Barbell Effect and How Does It Work?
Do you work out with free weights? If you do, where do you grab the barbells? In the middle, right? In business, as in barbells, it’s the middle that gets squeezed and this has given rise to the phenomenon known as “the barbell effect.” The idea is that businesses on either extreme in a given […]
Pricing Strategy Guide for Product Businesses
It’s obvious that the price of your products have a lot to do with the profitability of your business. Exactly how to price products in a way that maintains or increases your profitability is a little less obvious. Here are the first two steps toward developing an effective pricing strategy for your small business. Do […]
