First Steps to Map Out Your Value Proposition

First Steps to Map Out Your Value Proposition

Very few businesses are one of a kind. Someone, somewhere, has already thought of your concept and implemented it to some extent. The good news is that this has never stopped entrepreneurs! You created your new business around a smart innovation or a unique take on an existing concept. You started your entrepreneurial journey by noticing a problem and set out to solve it. This problem can take many forms, from a task to physical or emotional need. It can be crucial or trivial. Your product or service thus can have a functional, social, or emotional purpose. The lean startup concepts provide you with a framework to refine your product fit by experimenting, measuring and adjusting your MVP, based on customers’ feedback, in an effort to make your endeavor less risky. But at the end of the day, you cannot make the decisions for your customers. They ultimately will be the one choosing to buy your solution or not. The following is an excerpt from a class we teach at one of accelerator programs (API2X). We have accelerated hundreds of companies over the past seventeen years so these teachings are not theoretical. By now, we are pretty sure a lot of the advice we give is pretty good. All our programs are geared towards the most promising entrepreneurs who will create jobs today given access to capital, expertise, skills and talent. How do we make decisions? No amount of data or analytics can tell you why decisions are made. We can only try to better understand how people make them to provide them with a better overall experience i.e. value, which...
10 Skills Every Entrepreneur Needs

10 Skills Every Entrepreneur Needs

10 Skills Every Entrepreneur Needs – markITwrite In the past few years, it’s begun to feel a little like entrepreneurship is solely the domain of tech start-ups. Silicon Valley is the place to be if you want to attract the kind of funding that makes worldwide news and at times, it seems that a product doesn’t even have to be very good in order to obtain 6-figure...
Arizona Prosperity Initiative Workshops

Arizona Prosperity Initiative Workshops

Stop struggling! Free mentoring. Arizona Prosperity Initiative is providing a 7 week workshop to instruct, guide and mentor small businesses for growth. Experts will discuss the 7 barriers to success in business: Week 1: Unique Selling Proposition: How to outsell your competitors? Week 2: Execution: What Action Steps To Take To Grow Your Business? Week 3: Storytelling: Who and Where Are Your Ideal Customers? Week 4: Business Finances: How to Manage Them? Week 5: Budgeting: Good Budgets = Achieved Goals! Week 6: Small Business Loan: How to get the money? Week 7: Exit Strategy: How to leave your business well off?   RESERVE NOW! IT’S FREE   Sign up, space is limited to 15 participants for maximum impact. October 4, 2016 – November 15, 2016   Modeled after Altima Business Solutions’ successful and proven model that leads businesses to grow exponentially. The Arizona Prosperity Initiative is a series of complimentary hands-on workshops designed to help small business owners grow, expand and enjoy a better lifestyle. During these 7 in-person workshops, entrepreneurs will be given the tools and solutions they need to solve the challenges they are faced with today for immediate results. There are two tracks to the Arizona Prosperity Initiative: Track 1: You want to attend one or multiple workshops. Simply select the topic of interest and sign up for the corresponding workshop. Track 2: You want to make a difference in your business today by leveraging the experts’ mentorship. You commit to attend all the workshops. Each week you will solve one of your business challenges. The Subject Matter Experts will critique your solution and provide you...
3 Strategies to Make a Financial Difference in Your Business

3 Strategies to Make a Financial Difference in Your Business

Business owners and executives have long sought ways to improve their bottom line. Usually their energy is focused on how they can attract more customers to generate additional sales. However, working strategically is the key to immediately boosting the bottom line. Business strategy is not only about how to be more profitable tomorrow but also how to immediately march more dollars into your business and onto your balance sheet! These tactics will help your business grow in any kind of economic climate, recessionary or otherwise. Here are 3 Strategies to improve your bottom line today: Implement or Upgrade Your Systems and Processes. Systems and procedures are put in place to keep companies on course toward their profitability goals and to minimize surprises along the way. They provide a clear and consistent blueprint for how business is done on a daily basis and how decisions are made. Inefficient systems and processes are costly in terms of dollars, waste, rework, delays, resource utilization, whereas ineffective ones are pricey as well because they are not reliable. They don’t do what they are supposed to do. The first step is to go back to the fundamentals: ‘why’, ‘what’, ‘who’, ‘where’, ‘when’ and ‘how’ questions. The first question about any process/action is, why do it at all? Often many steps exist simply because of the status quo: ‘We have always done it that way’. The second question might be, why do we do it this way? Then, what is being done? What should be done? What can be done? When should it happen? And so forth. The second step is to not only look...

How GM Beat Tesla to the First True Mass-Market Electric Car

How GM Beat Tesla to the First True Mass-Market Electric Car Ten years ago, the room where I’m standing would have been filled with a deafening roar. The air would have pealed with the sound of a dozen V-8 engines, each one trembling atop its own laboratory pedestal as engineers in white shop coats used joysticks to adjust its throttle and...