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Why startups need to focus on sales, not marketing by @foundersatwork - The Accelerators - WSJ

Why startups need to focus on sales, not marketing by @foundersatwork - The Accelerators - WSJ | Pitch it! | Scoop.it
JESSICA LIVINGSTON: The most important thing an early-stage startup should know about marketing is rather counterintuitive: that you probably shouldn't be doing anything you'd use the term "marketing" to describe. Sales and marketing are two ends of a continuum. At the sales end your outreach is narrow and deep. At the marketing end it is broad and shallow. And for an early stage startup, narrow and deep is what you want -- not just in the way you appeal to users, but in the type of product you build...

To read the full article, click on the title or image.


Get your Free Business Plan Template here: http://bit.ly/1aKy7km

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Marc Kneepkens's curator insight, June 4, 9:45 AM

Great article in the Wall Street Journal. What a Startup needs is nothing but proving that it can be successful, and what better way to do that than making that sales model work.

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Six Tips on Overcoming Your Fear of Public Speaking

Six Tips on Overcoming Your Fear of Public Speaking | Pitch it! | Scoop.it

“According to most studies, people’s number one fear is public speaking. Number two is death. Death is number two. Does that sound right? This means to the average person, if you go to a funeral, you’re better off in the casket than doing the eulogy.” – Jerry Seinfeld

Comedian Jerry Seinfeld was correct on this count. Three-fourths of the U.S. population has a fear of public speaking. That edges death by a small margin and blows away all other phobias.

Yet, public speaking in something you probably do quite frequently as a small business owner. Whether addressing a small group of employees or a large group of industry peers, it’s important to be able to confidently address an audience. How can you do so?

To read the full article, click on the title...


Get your Free Business Plan Template here:

Marc Kneepkens's insight:

Public speaking is definitely a problem. Facing a room full of investors can be terrifying. Practice, practice, practice. Start with presenting in front of one person, then a small group of people. Another idea: don't do it all by yourself. Going back and forth with team members taking over when you run out of ammunition works very well. Of course, doing this more and more will definitely help, don't wait until the 'presentation of a lifetime' comes up. Put in a lot of practice before that.

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Strategies: Tired of emails? Print is making a big comeback - Denver Business Journal

Strategies: Tired of emails? Print is making a big comeback - Denver Business Journal | Pitch it! | Scoop.it
Mark Twain once said, “The reports of my death are greatly exaggerated.” This...
Marc Kneepkens's insight:

After Facebook's retreat, this is more interesting news. The digital age has not completely taken over.


Want to get a real book about building your business, for free?

It's excellent, the title is 'Start at the End', by Dave Lavinsky from Growthink.

Here is the link: https://growthink.infusionsoft.com/go/book/gt4045/


Just pay for the shipping and it's yours (listed on Amazon.com for $15.61 + Shipping).


Here are a few endorsements for the book:


"As a business owner, I wish I had read this earlier in my career. Starting at the End makes so much sense, yet it’s difficult to do tactically without this book. This book makes your business plan and dream come to life. Read it, then do it." by Adam Shaivitz, Founder of 'Accelerate Performance Sales Consulting', and Author of 'Selling is Everyone's Business'.


"Absolutely AMAZING!!!!!!!! Book. This is about as good or rather as great as it gets in terms of business education in a book. I love the writing style and the info is quite practical and easy to transfer into your everyday management as a business owner. Don't usually take the time out to comment on products - but for this one I really had to give it full props. BTW - For all those reading - this is a voluntary comment that honestly would have been against my conscience if I did not give feedback. Especially as the book was free... Great Job!!!! by Erica S. (spontaneous post on Start at the End's timeline).


Cheers!

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What are the early symptoms that a startup is going to fail?

What are the early symptoms that a startup is going to fail? | Pitch it! | Scoop.it
Answer (1 of 29): I'm sure there are plenty more out there, but I look for these:

1. No demonstrated user need. For example, consider 3D movies and TV.
Marc Kneepkens's insight:

This is a question on Quora with some great answers, very informative for startups, much to learn here. Please discuss.


Do you still need to write that business plan? Start at least with a 'Free Business Plan Template': http://www.business-funding-insider.com/free-business-plan-template.html



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Startup Professionals Musings: 5 Startup Concepts That are Not the Next Big Thing

Startup Professionals Musings: 5 Startup Concepts That are Not the Next Big Thing | Pitch it! | Scoop.it
Marc Kneepkens's insight:

I choose to spread this article, real innovation is what is needed.

Get some good advice on funding for startups here: www.Business-Funding-Insider.com


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Growthink Products for Capital Raising and Business Planning

Growthink Products for Capital Raising and Business Planning | Pitch it! | Scoop.it
Introduction and Review of Growthink Products to help you raise all the capital you need, and plan your business to grow into 8 figures, and exit profitably!
Marc Kneepkens's insight:

Reviewed and recommended by Business Funding Insisder

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How To Put Together The Best Elevator Pitch

How To Put Together The Best Elevator Pitch | Pitch it! | Scoop.it

How To Put Together The Best Elevator Pitch. You could have the best product in the world, but it doesn't mean anything if you can't sell or get users. 

It’s much easier to build a relationship and trust with someone when your talking to them in person rather than over the internet. The biggest problem is how to construct that elevator pitch so that the person you’re talking to will fall in love with your product or service.

To read the full article, click on the image or title.



Get your Free Business Plan Template here: http://bit.ly/1aKy7km

Marc Kneepkens's insight:

This article teaches the "Elevator Pitch". Exact, to the point, direct. Make it happen. Not just for funding, but for meeting people the first time and telling them in less than a minute who you are and what you do.

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5 Hot Opportunities for Start-ups

5 Hot Opportunities for Start-ups | Pitch it! | Scoop.it
Fresh numbers from Intuit shine a light on where consumers are spending the most--and where you might want to look for new business ideas.
Marc Kneepkens's insight:

Very interesting article, every Start Up should be aware of these trends and take advantage of them.


Your Free Business Plan Template? Get it here: https://growthink.infusionsoft.com/go/freebptemplate/gt4045/


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10 Myths about Startups

10 Myths about Startups | Pitch it! | Scoop.it
There are some prevalent myths and preconceived notions about startups that are simply not true. Here's 10 of them.
Marc Kneepkens's insight:

Great article, every startup should read this, it will at least make you think.


Hint: need a little help getting your thoughts and ideas organized? Get a free business plan template. It'll get you going: http://www.business-funding-insider.com/free-sample-business-plan.html

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20 words and phrases that will doom your pitch

20 words and phrases that will doom your pitch | Pitch it! | Scoop.it
Use these 'cursed words,' and many reporters and bloggers will delete your email. So will your employees. Plus, civilization might end.
Marc Kneepkens's insight:

The same in business plans and investor presentations of any kind.


Some more good articles here: www.business-funding-insider.com

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20 Reasons Why You Need a Business Plan

20 Reasons Why You Need a Business Plan | Pitch it! | Scoop.it
From www.growhtink.com

20 Reasons Why You Need a Business Plan

Written by Pete Kennedy on Wednesday, April 9, 2008

1. To prove that you’re serious about your business. A formal business plan is necessary to show all interested parties -- employees, investors, partners and yourself -- that you are committed to building the business.

2. To establish business milestones. The business plan should clearly lay out the long-term milestones that are most important to the success of your business. To paraphrase Guy Kawasaki, a milestone is something significant enough to come home and tell your spouse about (without boring him or her to death). Would you tell your spouse that you tweaked the company brochure? Probably not. But you'd certainly share the news that you launched your new website or reached $1M in annual revenues.


Get your Free Business Plan Template here:

https://growthink.infusionsoft.com/go/freebptemplate/gt4045/


3. To better understand your competition. Creating the business plan forces you to analyze the competition. All companies have competition in the form of either direct or indirect competitors, and it is critical to understand your company's competitive advantages.

4. To better understand your customer. Why do they buy when they buy? Why don’t they when they don't? An in-depth customer analysis is essential to an effective business plan and to a successful business.

5. To enunciate previously unstated assumptions.
The process of actually writing the business plan helps to bring previously "hidden" assumptions to the foreground. By writing them down and assessing them, you can test them and analyze their validity.

6. To assess the feasibility of your venture. How good is this opportunity? The business plan process involves researching your target market, as well as the competitive landscape, and serves as a feasibility study for the success of your venture.


Get your Free Business Plan Template here:

https://growthink.infusionsoft.com/go/freebptemplate/gt4045/

7. To document your revenue model. How exactly will your business make money? This is a critical question to answer in writing, for yourself and your investors. Documenting the revenue model helps to address challenges and assumptions associated with the model.

8. To determine your financial needs. Does your business need to raise capital? How much? The business plan creation process helps you to determine exactly how much capital you need and what you will use it for. This process is essential for raising capital for business and for effectively employing the capital.

9. To attract investors. A formal business plan is the basis for financing proposals. The business plan answers investors' questions such as: Is there a need for this product/service? What are the financial projections? What is the company's exit strategy?

10. To reduce the risk of pursuing the wrong opportunity. The process of creating the business plan helps to minimize opportunity costs. Writing the business plan helps you assess the attractiveness of this particular opportunity, versus other opportunities.

11. To force you to research and really know your market. What are the most important trends in your industry? What are the greatest threats to your industry? Is the market growing or shrinking? What is the size of the target market for your product/service? Creating the business plan will help you to gain a wider, deeper, and more nuanced understanding of your marketplace.


Get your Free Business Plan Template here:

https://growthink.infusionsoft.com/go/freebptemplate/gt4045/

12. To attract employees and a management team. To attract and retain top quality talent, a business plan is necessary. The business plan inspires employees and management that the idea is sound and that the business is poised to achieve its strategic goals.

13. To plot your course and focus your efforts. The business plan provides a roadmap from which to operate, and to look to for direction in times of doubt. Without a business plan, you may shift your short-term strategies constantly without a view to your long-term milestones.

14. To attract partners. Partners also want to see a business plan, in order to determine whether it is worth partnering with your business. Establishing partnerships often requires time and capital, and companies will be more likely to partner with your venture if they can read a detailed explanation of your company.

15. To position your brand. Creating the business plan helps to define your company's role in the marketplace. This definition allows you to succinctly describe the business and position the brand to customers, investors, and partners.

16. To judge the success of your business. A formal business plan allows you to compare actual operational results versus the business plan itself. In this way, it allows you to clearly see whether you have achieved your strategic, financing, and operational goals (and why you have or have not).

17. To reposition your business to deal with changing conditions. For example, during difficult economic conditions, if your current sales and operational models aren’t working, you can rewrite your business plan to define, try, and validate new ideas and strategies.

18. To document your marketing plan. How are you going to reach your customers? How will you retain them? What is your advertising budget? What price will you charge? A well-documented marketing plan is essential to the growth of a business.

19. To understand and forecast your company’s staffing needs. After completing your business plan, you will not be surprised when you are suddenly short-handed. Rather, your business plan provides a roadmap for your staffing needs, and thus helps to ensure smoother expansion.

20. To uncover new opportunities. Through the process of brainstorming, white-boarding and creative interviewing, you will likely see your business in a different light. As a result, you will often come up with new ideas for marketing your product/service and running your business.

 

 

Get your Free Business Plan Template here:

https://growthink.infusionsoft.com/go/freebptemplate/gt4045/ 



About Growthink

Since 1999, Growthink's business plan experts have assisted more than 1,500 clients in launching and growing their businesses, and raising more than $2 billion in growth financing.

Need help with your business plan? 

  • Speak with a professional business plan writer today.

  • Or, if you're creating your own PPM, you can save time and money with Growthink's new private placement memorandum template.

 

Dj Baker says

I find this a very simple, yet effective, breakdown of the reasons why a business plan is absolutely essential. From personal experience these 20 reasons our very much the truth. It is also very reassuring to know that there are trustworthy sites out there who do contain valuable information. Much appreciated, Dj
Posted at 5:24 pm
dan says

thanks for the news letter, we are in the air cooling business. using air conditioners. we supply LG units. our major challanges has for the last 6 months been reliable suppliers of LG products at a competitives price. we do not have enough money to qualify as dealers hence we depend on thers, when i read the 20 reasons , i reflected to find out why our clients buy from us , and why others do not. thank you.
Posted at 5:19 am
Sindi says

Thanks for this article. It is indeed a great eye opener for me. Didn't realise there's so much a business plan can reveal about any enterprise.
Posted at 1:49 pm
Mohammed Ajmal says

Thanks for the all this valuable info free of cost.
Posted at 11:22 am
manas says

hi all this site such a wonder full i would like to thanks to all of u those who operating this website
Posted at 1:53 am
Suzanne Muusers says

Just found this post. What a great list of reasons to write a business plan. I particularly like: 13. To plot your course and focus your efforts. All too often I meet entrepreneurs who have been running their business for years without a business plan, and their business shows it. Writing a business plan creates the INTENTIONS and structure for success. Thank you, Suzanne
Posted at 11:41 am
private placement memorandum says

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Samantha says

I think if you are looking forward to have a business then you must have a very well structured plan otherwise your business might not bring any good to you. Sam from Calgary Listings
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Samantha says

Sometimes I wonder how can someone start a business without a plan but there are people who actually do that but I'm sure their business doesn't last for long. The things that you mentioned above are absolutely necessary. Thanks - hemorrojder
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Samantha says

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Get your Free Business Plan Template here:

https://growthink.infusionsoft.com/go/freebptemplate/gt4045/
Marc Kneepkens's insight:

Excellent reasons for writing a Business Plan

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Marc Kneepkens's curator insight, July 21, 2013 11:07 AM

Check this "Review of Growthink's Business Plan Template":

 http://www.business-funding-insider.com/business-plan-template.html



Get your Free Business Plan Template here: http://www.business-funding-insider.com/free-business-plan-template.html

Jose Gonzalez's curator insight, July 21, 2013 9:31 PM

Very true !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Growthink Business Plan Template Review

Growthink Business Plan Template Review | Pitch it! | Scoop.it
Review of Growthink's Ultimate Business Plan Template by professional business plan reviewers
Marc Kneepkens's insight:

Get it done in 8 hours or less, while communicating the essentials that investors are looking for and that will make them respond.

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