Money in Motion : A Back to Basics Approach to Build Your Business

They see it as a distraction and a time suck. Everyone has their own definition of momentum user numbers, revenue, channel partners, biz dev deals, whatever.

Marketing Strategy

If I see your alpha product then I can judge how it develops over time. And it is that momentum that is easier to judge than a single data point. But I would have missed a lot in between. I never feel that way. Because management is so important I always tell people to make the bio slide the first in your deck. If you have good experience then the VC will be leaning forward for the rest of the presentation.

Mostly by early stage investors talking about getting smaller exits.

The Four Main Things that Investors Look for in a Startup

Your marketing plan must set you apart from your competition, and you can't stand out unless you know your competition. It's hard to stand out from a crowd if you don't know where the crowd stands. Know your competitors by gathering information about their products, service, quality, pricing, and advertising campaigns. In marketing terms, what does your competition do that works well?

What are their weaknesses? How can you create a marketing plan that highlights the advantages you offer to customers? How customers perceive your business makes a dramatic impact on sales. Your marketing program should consistently reinforce and extend your brand. Before you start to market your business, think about how you want your marketing to reflect on your business and your products and services. Marketing is the face of your to potential customers--make sure you put your best face forward. What problems do you solve?

What benefits do you deliver?

Customers don't think in terms of products--they think in terms of benefits and solutions. Your marketing plan should clearly identify benefits customers will receive. Focus on what customers get instead of on what you provide. Take Dominos; theoretically they're in the pizza business, but really they're a delivery business. Your products and services have to stand out from the competition in some way. How will you compete in terms of price, product, or service?

What is your budget for sales and marketing efforts?

For example, pay per sale versus a guaranteed amount for an outside sales person. Shift a cost from a variable to a fixed where the value is proven.

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Make this shift only when you can negotiate a substantial price savings by doing so. Consistently look for ways to lower your fixed overhead. Scrutinize your base expenses to eliminate non-strategic expenses that just don't add value to the company or to the customer. Stabilize your production systems so that you can reduce need to stock as much inventory and raw materials which are a drag on your cash flow and on your gross profit margins. Consider buying "off-the-shelf" versus designing or developing a tool e.

Ten top tips to improve your financial management

Unless you are in the business of designing exactly those types of tools you'll almost always find your estimates of the cost to build from scratch are hundreds of percent too low. Plus, you won't have the install base to update that tool, for example with later software releases, at a cost anywhere as close to a third party company who can amortize these ongoing waves of new versions over a much larger user base.

Take the time to plan out your negotiation strategically. Create competition for your dollars. Create a list of concessions you want, with extras for you to trade off. Research the market to better understand the best deal you can expect. Even hire an experienced negotiator to help you make the purchase on the best price and terms you can. If the asset you're buying for your business is large enough, the ROI on your negotiation work can be immense. Specifically -- negotiate and get competitive pricing on your merchant accounts.

The Four Main Things that Investors Look for in a Startup

This one tactic will likely yield an extra. Think of what this means. If you have a 15 percent operating profit margin, an. What does this really mean? Not bad for what will likely take your controller hours of her time to negotiate.

Be strategic about where you invest your company's dollars. Get clear on all the costs of inventory: This will help you make informed stocking levels. Consider selling off or writing off old inventory. Why pay to store stuff you really don't have a use for. Free up the space and cash tied up in that old inventory. Sell it; donate it; scrape it.