1 / 15

4 Questions and Two Words for Entrepreneurs

4 Questions and Two Words for Entrepreneurs. David Friedman Member, TechCoastAngels Oct. 2015. The Road to Profitable Growth. If you see a fork in the road, take it. Yogi Berra.

jaysoto
Download Presentation

4 Questions and Two Words for Entrepreneurs

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 4 Questions and Two Words for Entrepreneurs David Friedman Member, TechCoastAngels Oct. 2015

  2. The Road to Profitable Growth If you see a fork in the road, take it. Yogi Berra If you don’t know where you are going, any road will get you there. Lewis Carroll The Correct Answer: I can't change the direction of the wind, but I can adjust my sails to always reach my destination. Jimmy Dean For an entrepreneur, it’s about the business and the executive team

  3. It is said that if you know your enemies and know yourself, you will not be imperiled in a hundred battles; if you do not know your enemies but do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be imperiled in every single battle.Sun Tzu- The Art of War

  4. 4 Questions to Address

  5. Question 1 • Is there a market? • Is it growing? • What is the environment? • Who is the competition? • Can you target within the market a specific need? • Is it underserved, overserved, not served? • How will you monitor progress and substantiate traction in the market?

  6. Question 2 • Can you make it? • Do you have a solid product? • Do you have a single product, platform product or network product? • Is it (business or product) extensible? • Do you have IP? • Where are your strategic control points? • Do you have a moat? • What makes you different than other options?

  7. Expansion of Products into Markets

  8. Question 3 • Can you make money? • What are your routes to revenue? • What is your business model? • How will you be able to protect and maintain pricing? • How will you support the organization growth? • How will you distribute, promote, market the product and the cost of doing so? • How much money do you need and how will you spend the money?

  9. Question 4 • How will you support the product and the market? • High touch or high-tech? • First line technical and customer support? • In-house or outsource? • Cost to support?

  10. 2 Words

  11. Focus

  12. Metric Management • Sales= Channels x appointments x close rate • Number of leads generated • Return on Marketing Investment • % leads generated • % responses • Clickthroughs • Satisfaction/repeat buy/willingness to recommend • Sales cycle time • Average selling price • Average order size

  13. Measurement Template Confidential and Proprietary- for distribution only by consent of author

  14. PODFU • Plan • Organize • Delegate • Follow-Up • Set a battle rhythm for your company and a dashboard to review. • Share it with the entire team to build commitment and energy.

  15. Thank you.David Friedman Managing Director 949 439-4503 dfriedman@clevelpartners.com

More Related