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Entries from September 2008

The Best Day Ever: BDE

By Paul Rosenfeld on September 10th, 2008

tricia

So what makes a “best day?” Well, if you’ve been working on your start-up for a couple of months, and you just resigned a great job as CMO of a fast-growing company, then “Best Day Ever” (or BDE) is a very special day eh?

Sorry, will need to be a bit cryptic but you’ll get the point. Tracy and I walked away from 1:1 in-depth interviews with consumer and small business research unequivocally convinced:

  • Consumers need – and want – our concept
  • This fills an important unmet need for small businesses
  • And they’ll pay at least $600/year for it.

These are the most crucial questions that needed answering by us – or any start-up. After conducting fifteen small business interviews we had met many owners that weren’t right for our service, and two that wanted it on the spot. Valuable learnings for sure, but we’ve been seeking more owners for which the service would be a home run. Yesterday we found two more. That’s 4 of 15 for about a 25% adoption rate – not statistical but my model showed it at 25% after FIVE years.

I have goose bumps

By Paul Rosenfeld on September 10th, 2008

markcuban

Mark Cuban is awesome. He sounded off at the TechCrunch conference about his businesses and what it takes to be successful.

Best lines are the very last paragraph. All about the will to win and a “no excuses” philosophy about knowing your business cold.

JC: Whats the best piece of advice you can give a young entrepreneur?

MC: Ill tell you what I learned from Bobby Knight: everybody’s got the will to win but when it comes time to doing something, it’s always about someone else. Not many people have the will to prepare. You got to be willing to know your product and environment better than anybody. No matter what you do there is someone out there trying to kick your ass. You got to be the smartest guy in the room about your product. Then you need to have a revenue source. You need a company with a revenue to make money. Concept, competition, and where the money is — plus something you love doing. I’ve never had a day of work. When I die I want to come back as me.

 
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