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TV@ 1000mikes.com / Peter Schweyer - Hamburg Startup

Administrator — Wed, 02 Dec 2009 16:00:11 +0000

TV@ Interview Tobias Worzyk / Hamburg-Startups.de und Peter Schweyer / 1000mikes.com beim OpenCoffeeClub in Hamburg

4.1.7 Dave McClure - Startup Metrics for Pirates: AARRR! - I

Administrator — Sun, 29 Nov 2009 16:00:12 +0000

4.1.7 Dave McClure - Startup Metrics for Pirates: AARRR! - Ignite Seattle 2007-8-8

Owners of small businesses usually have limited resources to spend on marketing

Administrator — Fri, 27 Nov 2009 16:00:07 +0000

Owners of small businesses usually have limited resources to spend on marketing. Concentrating their efforts on one or a few key market segments - target marketing - gets the most return from small investments. There are two methods used to segment a market:
1. Geographical segmentation - Specializing in serving the needs of customers in a particular geographical area. For example, a neighborhood convenience store may send advertisements only to people living within one-half mile of the store.
2. Customer segmentation - Identifying those people most likely to buy the product or service and targeting those groups.
Managing the Market Mix
Every marketing program contains four key components:
Products and Services
Promotion
Distribution
Pricing
These are combined into an overall marketing program.
Products and Services - Product strategies may include concentrating on a narrow product line, developing a highly specialized product or service, or providing a product-service package containing unusually high-quality service.
Promotion - Promotion strategies include advertising and direct customer interaction. Good salesmanship is essential for small businesses because of their limited ability to spend on advertising. Good telphone book advertising is also important. Direct mail is an effective, low-cost medium available to small business.
Price - The right price is crucial for maximizing total revenue. Generally, higher prices mean lower volume and vice-versa; however, small businesses can often command higher prices because of their personalized service.
Distribution - The manufacturer and wholesaler must decide how to distribute their products. Working through established distributors or manufacturers” agents generally is easiest for small manufacturers. Small retailers should consider cost and traffic flow in site selection, especially since advertising and rent can be reciprocal: A low-cost, low-traffic location means spending more on advertising to build traffic.
The nature of the product or service is also important in siting decisions. If purchases are based largely on impulse, then high traffic and visibility are critical. On the other hand, location is less a concern for products or services that customers are willing to go out of their way to find. The recent availability of highly segmented mailing lists, purchased from list brokers, magazines, or other companies, has enabled certain small businesses to operate from any location yet serve national or international markets.

Enter the Startups Awards

Administrator — Thu, 26 Nov 2009 16:00:06 +0000

Enter the Startups Awards - the largest independant start-up awards scheme in the UK, recognising the most promising and innovative young companies and their achievements so far

4.1.7 Dave McClure - Startup Metrics for Pirates: AARRR! - I

Administrator — Mon, 23 Nov 2009 16:00:12 +0000

4.1.7 Dave McClure - Startup Metrics for Pirates: AARRR! - Ignite Seattle 2007-8-8

After implementing a marketing program, entrepreneurs must evaluate its performance

Administrator — Sat, 21 Nov 2009 16:00:07 +0000

After implementing a marketing program, entrepreneurs must evaluate its performance. Every program should have performance standards to compare with actual results. Researching industry norms and past performance will help to develop appropriate standards.
Entrepreneurs should audit their company”s performance at least quarterly. The key questions are:
1. Is the company doing all it can to be customer-oriented?
2. Do employees ensure the customers are satisfied and leave wanting to come back?
3. Is it easy for the customer to find what he or she wants at a competitive price?

Before inquiring about financing, ask yourself the following:

Administrator — Tue, 17 Nov 2009 16:00:08 +0000

Do you need more capital or can you manage existing cash flow more effectively?
How do you define your need? Do you need money to expand or as a cushion against risk?
How urgent is your need? You can obtain the best terms when you anticipate your needs rather than looking for money under pressure
Before inquiring about financing, ask yourself the following:
Do you need more capital or can you manage existing cash flow more effectively?
How do you define your need? Do you need money to expand or as a cushion against risk?
How urgent is your need? You can obtain the best terms when you anticipate your needs rather than looking for money under pressure.
How great are your risks? All businesses carry risks, and the degree of risk will affect cost and available financing alternatives.
In what state of development is the business? Needs are most critical during transitional stages.
For what purposes will the capital be used? Any lender will require that capital be requested for very specific needs.
What is the state of your industry? Depressed, stable, or growth conditions require different approaches to money needs and sources. Businesses that prosper while others are in decline will often receive better funding terms.
Is your business seasonal or cyclical? Seasonal needs for financing generally are short term. Loans advanced for cyclical industries such as construction are designed to support a business through depressed periods.
How strong is your management team? Management is the most important element assessed by money sources.
Perhaps most importantly, how does your need for financing mesh with your business plan? If you don”t have a business plan, make writing one your first priority. All capital sources will want to see your for the start-up and growth of your business.
There are two types of financing: equity and debt financing. When looking for money, you must consider your company”s debt-to-equity ratio - the relation between dollars you”ve borrowed and dollars you”ve invested in your business. The more money owners have invested in their business, the easier it is to attract financing.
If your firm has a high ratio of equity to debt, you should probably seek debt financing. However, if your company has a high proportion of debt to equity, experts advise that you should increase your ownership capital (equity investment) for additional funds. That way you won”t be over-leveraged to the point of jeopardizing your company”s survival.
Equity Financing
Most small or growth-stage businesses use limited equity financing. As with debt financing, additional equity often comes from non-professional investors such as friends, relatives, employees, customers, or industry colleagues. However, the most common source of professional equity funding comes from venture capitalists. These are institutional risk takers and may be groups of wealthy individuals, government-assisted sources, or major financial institutions. Most specialize in one or a few closely related industries. The high-tech industry of California”s Silicon Valley is a well-known example of capitalist investing.
Venture capitalists are often seen as deep-pocketed financial gurus looking for start-ups in which to invest their money, but they most often prefer three-to-five-year old companies with the potential to become major regional or national concerns and return higher-than-average profits to their shareholders. Venture capitalists may scrutinize thousands of potential investments annually, but only invest in a handful. The possibility of a public stock offering is critical to venture capitalists. Quality management, a competitive or innovative advantage, and industry growth are also major concerns.
Different venture capitalists have different approaches to management of the business in which they invest. They generally prefer to influence a business passively, but will react when a business does not perform as expected and may insist on changes in management or strategy. Relinquishing some of the decision-making and some of the potential for profits are the main disadvantages of equity financing.

Business Plan BasicsA business plan precisely defines your business, identifies your goals, and

Administrator — Mon, 09 Nov 2009 16:00:19 +0000

Business Plan BasicsA business plan precisely defines your business, identifies your goals, and serves as your firm”s resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.
Plan Your Work
The importance of a comprehensive, thoughtful business plan cannot be overemphasized. Much hinges on it: outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, and achievement of your goals and objectives. ‘The business plan is a necessity. If the person who wants to start a small business can”t put a business plan together, he or she is in trouble,’ says Robert Krummer, Jr., chairman of First Business Bank in Los Angeles. Despite the critical importance of a business plan, many entrepreneurs drag their feet when it comes to preparing a written document. They argue that their marketplace changes too fast for a business plan to be useful or that they just don”t have enough time. But just as a builder won”t begin construction without a blueprint, eager business owners shouldn”t rush into new ventures without a business plan. Before you begin writing your business plan, consider four core questions: What service or product does your business provide and what needs does it fill? Who are the potential customers for your product or service and why will they purchase it from you? How will you reach your potential customers? Where will you get the financial resources to start your business?

6 Tips for Start-Ups in 10 minutes

Administrator — Sat, 07 Nov 2009 16:00:12 +0000

Important tips for start-ups concerning venture capital, business plans, partners and potential legal issues. Presented by attorney Roman R. Fichman.

Business Plan BasicsA business plan precisely defines your business, identifies your goals, and

Administrator — Thu, 05 Nov 2009 16:00:13 +0000