customers Archives - Startup Economist

It is More Cost-Effective to Keep Existing Customers Than to Acquire Them Anew. Is it?

Monday, 11 November 2019 by Paul O'Brien

There is a common trope in academic and advisory circles, before you ask why, ask if. I was reminded of that conventional wisdom when flooded with a series of questions recently, about how and why it was better, than seeking to customers, to keep existing customers happy. Before you ask why, ask if. In early

Published in Insights / Research, Startups

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Startups Often Try to Monetize too Early

Thursday, 17 October 2019 by Paul O'Brien

I was just asked, What are examples of startups that tried to monetize too early? and my gut reaction was, “all that fail.” Before you jump all over that blunt and obtuse, and too narrow, reaction, let’s explore… Encourage you actually ask the question in the inverse. How or why are so many dominant and

customers entrepreneurship profitability revenue steve blank

Published in Startups

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Start Up Right: Know Your Potential Customers

Tuesday, 22 May 2018 by Paul O'Brien

Every entrepreneur struggles with the idea of traction. The word we hear uttered by investors, mentioned by advisors, cited in blog posts, and the holy grail of entrepreneurship, traction, really means a lot of different things to any number of people. And still, as we venture forth, we’re constantly focused on customers and what I’ve noticed

customers profiles profiling traction

Published in Brand Marketing, Insights / Research, Social Media, Startups

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The Secret to Funding: How Many Customers You Need Before Contacting VCs

Friday, 06 January 2017 by Paul O'Brien

It might be the most frequently asked question by early entrepreneurs. If not that, the most frequently heard frustration from founders is, “I have customers, why can’t I raise capital?” Let me jump right in on the secret I’m about to reveal: customers aren’t the answer you’re seeking. Which is to say, the magic number

angel investors customers fund raising funding investors revenue vc venture capital

Published in Startups

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Why Startup Founders Need Executives Before Customers

Friday, 29 July 2016 by Paul O'Brien

Time and time again I’m advising founders on the cat and mouse game of customers vs. funding. You know the rat race: investors want to see customers… you have some but seemingly not enough… you’re advised that you need to talk to more customers to validate what you’re doing… you have and yet… Something is

advisors customers executives experts funding investment validation

Published in Startups

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The Tale of Two Founders

Tuesday, 24 March 2015 by Paul O'Brien

Yesterday, famed New York Times cartoonist Kaamran Hafeez featured a sketch that has garnered quite a bit of attention in the startup community. Implied by one “faction” (a term I’m using not to be critical but to distinguish) to offer a tongue-in-cheek jab at founders and investors who arguably embrace market share and scalability over

customers entrepreneurship founders funding growth investment marketing revenue scale startups

Published in Startups

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Understanding Customers with Social Profile Data

Friday, 06 May 2011 by Paul O'Brien

It was just about a year ago that I was thrilled by my discovery of a brilliant startup helping businesses profile their customers through social network data. While we’re all excited about the promise of social marketing and media, understanding who is paying attention, what works, and who cares is still a challenge. For all

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Published in Social Media

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