It’s been a while since entrepreneurs have HAD to be resourceful. We just wrapped up a decade-long bull market, the longest in human history, and capital was cheap and relatively easy to come by if your company showed promise. Times have changed, though. Entrepreneurs are now forced to make more with less. Elon Musk laid…
The story of Domino’s is a fascinating one. Like so many great ventures, it started small, with two brothers buying a single pizza joint known as DomiNick’s in Michigan. It was sort of a side hustle for them. But over the years, that changed. The company’s founder, Tom Monaghan, became a trailblazer in the pizza…
SaaS plus a box is THE model for technology hardware companies. Simply put, it’s when a company attaches a subscription to its hardware for the consumer to maximize the hardware’s features. And, the more expensive the hardware, the more likely the consumer is to stick with a monthly subscription. No Subscription, No Value Without…
Many investors and entrepreneurs put an emphasis on first-mover advantage — the competitive advantage a company gains by being the first to introduce a new product or service to the marketplace. You see it all the time in pitch decks. “The first premium brand in the…” “The first cannabis company to…” “The first cloud technology…
Some young entrepreneurs, inspired by the early successes of Mark Zuckerburg and Evan Spiegel, believe it will only take 1-2 years of hard work to achieve hyper success. But in most cases (I’d wager 99%), it simply doesn’t work out this way. It takes years to cultivate a minimal viable product that succeeds. It takes…
I can’t tell you how many nights I’ve laid awake agonizing over my business and thinking of new ways to outperform my competitors. Despite its all-consuming (and often stress-inducing) nature, the pursuit of innovation is the lifeblood of every entrepreneur. Unfortunately, innovation is getting harder to come by at a time when we need it…
From concept to product launch, entrepreneurs are in for a wild and uncertain adventure. The crazy thing about it is, every step along the way gets more complicated and unpredictable, and the stakes get higher. That’s why many inventors fear the day their product/baby is ready for commercialization. All the months (if not years) preparing…
I often deal with early-stage and startup technology companies. It never ceases to surprise me when after initial success (typically on the back of a development milestone or financing), many founders/CEOs opt to expand their board and engage consultants. They begin to seek opinions on just about every decision, big or small. It’s almost a…
Startups excel or die based on their ability to innovate and occasionally pivot. Today’s writing is about the business pivot or adaptation. To show entrepreneurs out there that some of the most brilliant innovators and companies in recent years had no idea, at least initially, what they would become, I’m going to share a quick…