Questions to Answer Before You Start Negotiating

Written by Sean Murphy. Posted in 2 Open for Business Stage, 3 Early Customer Stage, Rules of Thumb, Sales, skmurphy

Here  are some questions to ask yourself before you start negotiating a complex business relationship: for example a software license, SaaS subscription, or a reseller or OEM relationship. Entire books are written on negotiation, I am trying to highlight some questions that can get overlooked.

How Do I Move From Being Capable to Offering Expert Consulting?

Written by Sean Murphy. Posted in 2 Open for Business Stage, 4 Finding your Niche, Consulting Business, skmurphy

Offering expert consulting means developing a specialization and focus that enable you to execute with distinction. The phrases “finding the niche for your product” and “product market fit” are essentially equivalent. A key definition of a market is that members reference each other’s buy decisions and therefore building up a set of references lowers your next prospect’s perception of the risks in your product or service (not just will it work or will you do what you say you can do but are you going to offer them significant value.

Choosing the Right Targets and Metrics

Written by Sean Murphy. Posted in 3 Early Customer Stage, 5 Scaling Up Stage, Design of Experiments, skmurphy

The targets that founders set for a startup, and the metrics they choose to measure their progress toward these targets, are key decisions in the definition of the business. The wrong targets–in particular selecting only targets that are easily achievable–will not only postpone difficult choices that will bring clarity but may doom a team from the beginning if they don’t adjust and aim for outcomes that create a sustainable and growing business.

Five Tips For Activating Your Network of Relationships

Written by Sean Murphy. Posted in 3 Early Customer Stage, Customer Development, Rules of Thumb, skmurphy

A startups social capital, the network of relationships that the founders have with friends, former co-workers and associates, and friends of friends represent a key resource for the team. It’s possible to activate this network to help you solve a variety of problems–e.g. finding a cofounder, finding early employees, finding contractors, finding early customers, finding investors, finding advisors–but you can normally only activate for one purpose at a time.

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