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Pioneering a New Category, Creating a Need, Selling The Startup & Moving on

On Entrepreneurs:

  • Have a vision of how things could be to a point where it’s only a matter of time before your vision is real.
  • Talk about the things in the future as though they’ve already happened today.
  • Entrepreneurs don’t see the future as possible, but rather as probable
  • Ask “How are you going to change the world with this product?”
  • Gauge your success by how many times people recognize what you do

On Startups:

  • Sell a business and don’t look back. It’s a chapter
  • Be comfortable selling and moving on
  • Sometimes the timing is not right to start. Keep developing until the timing is right
  • Don’t go of and build something unless you’re pretty sure you’ll solve a need

On Product Development:

  • First Ask “Is this something I would buy?”
  • Secondly “Will the technology support this idea?”
  • Thirdly “Can you solve the problem at a price that’s acceptable to the market?”
  • Every year, the cost of technology decreases by 35%, thus increasing the success of your business
  • Be careful of the advice given to you at product development phase

On Customers:

  • Simplify the decision process; both at customer acquisition, and at secured customer
  • Address the issues, be responsive and jump in. Be like Nordstrum, take the blame even if not your own
  • If you don’t know the answer, find someone who does, don’t give your customers BS
  • When things break, the people need someone to hold your hand
  • Do your market research first
  • Talk to 100 people, write down their responses, and this will represent the bigger picture

References:
David Friend of Carbonite, through Mixergy.com on 4/29/2011

Published - July 28, 2011

More on this topic…

Experience of something is the opinion of one, how restaurants and retail can influence and shape the ideal desired result to win and retain customers

Experience of something is the opinion of one, how restaurants and retail can influence and shape the ideal desired result to win and retain customers

The experience of something is personal. Often filtered through one’s beliefs, expectations, memories and opinions. The experience of something is not the creation or curation of space, time and sensory stimuli – done so by a restaurant, a venue, an organization. The experience of something is what the goer, attendee or participant experiences as a result of being in (and have gone through) a designated space, over time, having at least one of their senses stimulated.

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