Interestingly, the question of “Where does money actually come from?” is rarely discussed in education, despite money playing a crucial role in almost all aspects of our lives. Most people believe that money is created by the government, but that’s not entirely accurate. Governments are responsible for producing physical forms
Most marketers focus primairly on acquiring new customers. They are often less concerned about the ‘quality’ of the customers brought in. This is nuts, because research has shown that a 5% increase in customer retention can increase profits by 25% to 95%. The same study found that it costs 6
For startups, acquiring the first 100 customers can be an uphill battle. Many entrepreneurs believe they must build a fully functional product to validate market adoption. However, there is an alternative and effective approach – obtaining signed letters of intent. These letters can prove to investors that your solution sells.
As a corporate entrepreneur, I have had the opportunity to witness the journey of numerous startups within large organizations. Recognizing the crucial need for a comprehensive roadmap to guide these ventures, I have developed a model consisting of six distinct stages of maturity. In this article, we will delve into
Once upon a time, there was a company. A company that really understood its customers and sold products that the customer wanted. The company started to grow. Managers joined, processes were set up and systems were put in place. The company continued to do well for a while. Customers bought
Every marketer comes across the term “EBITDA” from time to time. When I was immersing myself in this topic, I decided to turn it this information into an article so everybody can understand it. So… what is EBITDA? EBITDA is a measure often used to analyse a company’s operational performance.
To measure a startup without any metrics typically used in an established company (like ROI or market share), you need an approach that targets “leading” indicators. You need things that predict market success. Most teams start with market forecasts and work backwards from there. But a more effective approach to building a
My goal is to help large organisations innovate by building new, durable business models. The sad thing that I see is that most corporate startups die after the Minimum Viable Product (MVP) stage. This is mainly because corporate startups tend to focus on the wrong things in relation to the
We live in challenging times. The aftermath of the corona crisis is visible. Inflation is skyrocketing. People have less to spend, companies are going bankrupt and governments are running budget deficits. There is a high probability that an economic recession is coming. The recurring economic crises do not make things
Most startups launching a new product use a similar product development process, as shown in this illustration: What’s wrong with this picture? At first glance, this picture seems helpful and benign, illustrating a process of getting a new product into the hands of waiting customers. The process fits well with
