mikerogerstrg

[mikerogerstrg]

Don't make the same mistake I've made

Don’t make the same mistake I’ve made

You make mistakes. Mistakes don’t make you.

I was recently advising some clients on Brand Marketing issues and one of the points I stressed hard was identifying your ideal customer.

Most people think that if you have the best product, you will succeed.  And I admit, I think this sometimes, too, about my service.

What I was telling them was that the formula to real success is not as…

[mikerogerstrg]

Dealing with Investors in this Black Swan Event

People are describing the COVID-19 pandemic as a black swan event.  They talk like we know what a black swan event is.  I looked it up.

The phrase comes from a time when black swans were thought not to exist so seeing one was a rare event.

According to Nassim Nicholas Taleb’s 2007 book, The Black Swan,  black swan event has 3 attributes:

First, it is an outlier, as it lies outside the realm of…

[mikerogerstrg]

The 6 Ts VCs look at when making an investment

Photo by Startup Stock Photos on Pexels.com

VCs look for a lot of things when looking at a potential investment but the main things can be boiled down to the 6 T’s.

Every VC looks at these same 6 items when evaluating an investment opportunity.  It’s your job as the CEO to convey this information to a potential investor in a compelling way.

A VC may weigh one item more than another, and the scale…

[mikerogerstrg]

Advisors for your Startup - why have them and how to use them

Advisors for your Startup – why have them and how to use them

Photo by Startup Stock Photos on Pexels.com

I’m an Advisor to several early-stage companies: RapidPricer, Event Hollow, and ESPAT.  These are the ones with formal arrangements.  I also advise a lot more companies on a less formal basis.

Why would any company engage someone as an advisor, let alone me?

Because advisors improve the speed and outcomes for the businesses they advise. (more…)

[mikerogerstrg]

So you want to start your own software company?

So you want to start your own software company?

Photo by Oladimeji Ajegbile on Pexels.com

Being the founder of a software company is exciting.  It’s also really, really hard.

Many people have a desire to start something.  They see many companies getting launched, raising money, and getting traction.  It seems easy enough.  Some companies even have really bad ideas but they look like they’re doing well.

A big motivating factor is that with your…

[mikerogerstrg]

A startup CEO's secret advantage

A startup CEO’s secret advantage

I talk to amazing entrepreneurs all the time and most of them have some fantastic ideas.  I find it fascinating to learn how they think, how they came up with the idea for the solution and the problem they’re solving.  There is no lack of imagination in the market today, that’s for sure.

Many of them, however, feel somewhat alone, as if they’re the only ones going through any particular…

[mikerogerstrg]

Startup Survey

As one of my online followers, your opinions mean a great deal to me. So if you’re an entrepreneur/founder/CEO or want to be, I’m asking you… and a small handful of other people… for some feedback that will help shape my future program offerings for 2019 and beyond.

The survey shouldn’t take more than 5 minutes, so I thank you in advance for your time and your advice, insights, and…

[mikerogerstrg]

Exit Plans for Startups

Exit Plans for Startups

It might seem strange to consider exiting when you’re just starting up and preoccupied with assembling a team and getting funded. But thinking through, planning for and working toward an eventual exit is something every entrepreneur needs to do.

Why is having a startup exit plan important?

Your end goal affects everything from how you run your business, to the partnerships you pursue, to how…

[mikerogerstrg]

Strategy For Early-Stage Companies

Strategy For Early-Stage Companies

Photo by Pixabay on Pexels.com

When you try to figure out your strategy as an early stage company, it’s quite easy to find all kinds of theoretical advice online put forth by economists and academics.  In fact, when I was in business school we even had to create a business plan that was probably about 40 pages long.  Oh, the horror!

But in the real world, when you actually have to create and…

[mikerogerstrg]

What’s Your GTM Strategy? 7 Steps to Market Success

What’s Your GTM Strategy? 7 Steps to Market Success

Photo by rawpixel.com on Pexels.com

Have you ever been told you need a Go-To-Market (GTM) Strategy for your company, whether it is a startup or your launching a new product at an established company?

We all kind of “get it” but when you actually try to create one it gets a little complicated.  For instance, how is it different than a marketing strategy or a business plan? (more…)

[mikerogerstrg]

The Challenges of Growing Your Business - Welcoming Change

The Challenges of Growing Your Business – Welcoming Change

Complacency can be a major threat to a growing business. Assuming that you will continue to be successful simply because you have been in the past is very unwise.

If they have the right attitude, leaders can utilize change as an opportunity to innovate and grow.

Leaders are people who don’t just learn to live with or manage change — they actually create change and help others successfully…

[mikerogerstrg]

The Challenge of Growing Your Business - Leadership Skills and Attitudes

The Challenge of Growing Your Business – Leadership Skills and Attitudes

Photo by rawpixel.com on Pexels.com

Entrepreneurs are the driving force behind creating and growing new businesses. All too often, they are also the people holding them back.

The abilities that can help you launch a business are not the same as those you need to help it grow. It’s vital not to fool yourself into valuing your own abilities too highly. The chances are that you’ll need training to…

[mikerogerstrg]

The Challenges of Growing Your Business - The Right Systems

The Challenges of Growing Your Business – The Right Systems

Photo by Matheus Bertelli on Pexels.com

The problem of managing information often prevents business CEOs from growing their business.  They are prevented from working on (not in) their business, not being able to spend time on the things that really matter.

Beyond perfecting the product or service, hiring excellent team members, and securing financing, an owner must dedicate care and attention to…

[mikerogerstrg]

The Challenges of Growing a Business - Problem Solving

The Challenges of Growing a Business – Problem Solving

Photo by Gratisography on Pexels.com

New businesses often run in perpetual crisis mode. Every day brings new challenges that urgently need resolving and management spends most of their time troubleshooting.

As your business grows, this approach simply doesn’t work. While a short-term crisis is always urgent, it may not matter nearly as much as other things you could be doing. Spending your time…

[mikerogerstrg]

The Challenges of Growing Your Business - Cash Flow & Financial Management

The Challenges of Growing Your Business – Cash Flow & Financial Management

  Photo by Public Domain Pictures on Pexels.com

Good cash flow control is important for any business. For a growing business, it’s crucial – cash constraints can be the biggest factor limiting growth and overtrading can be fatal.

Making the best use of your finances should be a key element in business planning and assessing new opportunities. With limited resources, you may need to pass up…

[mikerogerstrg]

Challenges of Growing Your Business - Planning Ahead

Challenges of Growing Your Business – Planning Ahead

Photo by rawpixel.com on Pexels.com

The plan that made sense for you a year ago isn’t necessarily right for you now. Market conditions continually change, so you need to revisit and update your business plan regularly.

As your business grows, your strategy needs to evolve to suit your changed circumstances. For example, as you move from your Series A to your Series B funding your focus is likely…

[mikerogerstrg]

The Challenges of Growing a Business - 6 Steps to Keeping Up with the Market

The Challenges of Growing a Business – 6 Steps to Keeping Up with the Market

Photo by bruce mars on Pexels.com

Growing businesses face a range of challenges. As a business grows, different problems and opportunities demand different solutions – what worked a year ago might not be the best approach today. All too often, avoidable mistakes turn what could have been a great business into an also-ran.

While it’s important for you to be on top of everything that’s going on…