Startup Stages

It’s the Picture on the Box that Sells the LEGO Set

A common  complaint an entrepreneur voices when they first try to explain why a prospect should pay for their product: “It’s difficult expressing the value proposition in just a few words because there are so many different ways to use it.” Many an entrepreneur with a new product Here are some things to try to …

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Selling to a Business Requires Conversations that Build Trust

I am always interested in having a conversation with a prospect. If you are hoping to infer needs from seeing them press a menu button with an icon or one or two words on it I think that’s a poor substitute for a conversation. I know that people cannot always predict what they need or …

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The Risk of General Purpose Toolkits as a First Product

I will sometimes encounter an entrepreneur or team who is developing “a general purpose toolkit for X.” This may be at a Bootstrapper Breakfast or other networking event. They have often developed a core of a promising technology and see applications for it everywhere. Here is what I normally suggest: Write up a few examples …

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Len Sklar: Be Clear About Payment Terms And Consequences

Len Sklar, author “The Check is NOT in the Mail”  has spoken several times at Bootstrapper Breakfasts.  Here is a recent talk he gave where he stresses the importance of putting payment terms and the consequences on non-payment in writing, communicating them in advance, and ensuring that they are understood. It all seems so obvious …

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Erecting Barriers to Competition That Are Difficult to Duplicate

Competition is inevitable, that is why it’s wise to prepare for it and immunize yourself with difficult to copy differentiation where possible. A pure focus on implementing new features as fast as possible in an effort to outrun the competition is unlikely by itself to be enough. Here are some barriers you can erect that …

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Narrative Rationality: Be Mindful Of Your Self-Description

Pay attention to self-description: the story you tell yourself and about yourself. Cultivate productive habits that don’t require conscious decisions. “It is a profoundly erroneous truism, repeated by all copy books and by eminent people when they are making speeches, that we should cultivate the habit of thinking of what we are doing. The precise …

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A Nicely Furnished Room In A House That’s Burning Down

Silicon Valley is a nicely furnished room in a house that’s burning down, the state of California. From Joseph Vranich‘s blog “CA Business Departures Increasing–Now 5x 2009” June 20, 2011. From Jan. 1 of this year through this morning, June 16, we have had 129 disinvestment events occur, an average of 5.4 per week. For …

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When Do I Need a Model? I am Bootstrapping

I have condensed this from a recent series of conversation with bootstrapping entrepreneur. I thought it captured many of the key questions that you need to be consider once you are “open for business.” Bootstrapping  Entrepreneur: I am just getting started on a new project. I have several advisors and one has suggested that I …

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