Entrepreneurship Tips — Raw Startup

How Big Must A Market For An MVP And Market Entry Strategy Be?

Posted by Robert Norton on

How Big Must A Market For An MVP And Market Entry Strategy Be?

Absolutely. That is called a “niche” and often is the intersection of a vertical market and application/problem. And even smaller is okay and sometimes an advantage in the beginning. Of course, you also need a vision and steps into larger markets. Generally, $1 billion minimum if you seek institutional capital, as they only invest in companies that can reach $100M in sales after 5–6 years. Even if your price point is $250 that’s a $12.5M market opportunity. Which may be enough to validate your product, tune it, prove your value proposition, price point, marketing, and sales economics to raise funding...

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Do you know any platform where people can study the skills to run their own companies?

Posted by Robert Norton on

Do you know any platform where people can study the skills to run their own companies?

Yes, I personally have created two platforms with about 40 courses total for this purpose, and a third set of courses for executive teams preparing to scale a company. There are at least 30 skills an Entrepreneur/CEO should learn before founding a company, not that they can be expert at all or even most, but all these skills will be needed on a team. We have trained thousands of CEOs from over 40 countries at The CEO Boot Camp since the first one in 2004. This program is for aspiring and active entrepreneurs to learn what they need to become...

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What do the most successful businesses have in common?

Posted by Robert Norton on

What do the most successful businesses have in common?

This is a simple but good question, but does depend on what your definition of “successful” is, too. A lifestyle business is successful if it provides a decent living for the owner. Most freelancers, consultants and coaches are this kind of business. So are most local retail stores. They sell commodity products and services like millions of others. To me, a successful business is one that can reach multi-millions in revenue, create jobs and has good margins for profit that can be reinvested to grow the business. This kind of business can grow exponentially and reach hundreds of millions in...

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Why do Most Start Ups Fail?

Posted by Robert Norton on

Why do Most Start Ups Fail?

I wrote an eBook to answer this exact question, title The Top 20 Reasons Startups Fail and How to Avoid Them. It is based on some research. You can download it free here: top20 I have also created a 3-part video course here reviewing this question from the perspective of what learning and tools are required to avoid these twenty mistakes called The Entrepreneur's Journey here. How to Raise Millions for Any Company - Online Video Course Bob Norton is a long-time Serial Entrepreneur and CEO with four exits that returned over $1 billion to investors. He has trained, coached and advised...

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Does a Startup Need Lots of Capital to Become a Big Company?

Posted by Robert Norton on

Does a Startup Need Lots of Capital to Become a Big Company?

How to start a company with far less capital and also make more money in the process Venture capital investors need to put BIG dollars to work and have a short time frame (5-7 years typically). THEY need startups to move fast. And, yes, if you have 5–10 competitors getting market share then more invested capital will pay off. However, the smartest founders take another approach and raise less money at higher valuations later. This alternative is a multi-step market entry strategy where a startup starts in a smaller niche to get some traction, proof of concept and cash-flow. Which...

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