“The Mom Test” by veteran entrepreneur Rob Fitzpatrick is one of our favorite business books. Concise, clear writing describes actionable concepts that will instantly help you have better, more productive conversations with prospective customers about your business idea. Listen to our podcast conversation about why we love the book, and download our selection of key excerpts along with our annotations.
Dave Bayless spoke with Mario Schulzke about “5 to 9” projects. Unlike side gigs such as driving an Uber car, a 5 to 9 project is typically born from intense personal interest rather than an immediate expectation of financial reward. Even so, a 5 to 9 project is something you can own and build, so it offers the prospect for accumulated value over time in addition to intrinsic rewards.
P2Binvestor (“P2Bi”) is an online marketplace lender that provides asset-based lines of credit of $1 million or more. Typically, its borrowers are rapidly growing consumer products and professional services companies that can’t yet access bank credit. Through the application of technology, P2Bi has democratized access to this kind of debt financing by making it available to companies having annual revenues as low as $1 million. I spoke with Krista Morgan, co-founder and CEO, about what makes P2Bi different.
Jordan Lacenski founded BrandBoss Creative. She also cofounded the SheWolf Collaborative (where she is an “alpha”). The collaborative is organized as a business “wolf pack” that consists of complementary providers of marketing services. Through its organization, SheWolf Collaborative benefits its clients, members, and the broader community of women entrepreneurs. Jordan’s excitement about the prospects for SheWolf […]
Many people cheer for entrepreneurship. Politicians support policies favorable to business start-ups. The Small Business Administration guarantees a portion of bank loans made to qualifying new enterprises. Many cheer for entrepreneurs. The ones who “make it big” give interviews on television. Others write books explaining how you, too, can run your own business (or run […]
Free cash flow is an important measure of profitability for human scale businesses. As a metric, free cash flow takes into account the need to make ongoing investments in inventory and accounts receivable. It also acknowledges the need to make maintenance expenditures in any equipment or other fixed assets you might have. It represents the cash available to expand production, develop new products, pay dividends, and service debt.
We don’t become overweight because we eat too much over the holidays. We pack on the pounds because of the accumulated effect of excess calories over an extended period of time. The same is true for our business expenses. They become misaligned with our revenues not because we binge spend. Rather, they tend to grow insidiously. We stop noticing when we are making expenditures that aren’t truly necessary.
Years ago as I was teaching a strategy course, I used a case study that continues to haunt me. The case focused on a young company founded by three friends who loved to cook and eat seafood gumbo. They crafted an out-of-this-world recipe based on ingredients bought fresh-from-the-wharf near their Gulf Coast city and set up a small manufacturing operation. The story haunts me because the founders’ milestone for “making it” was placing their products in Walmart stores.
Jala Smith-Huys is an experienced digital marketing and social media strategist who recently launched her own consumer product brand. Dave Bayless spoke with her about using social media to build a human scale business.
Chad Rubin’s first business was Crucial Vacuum, a successful direct-to-consumer ecommerce seller of vacuums, filters, bags, and belts. Frustrated by his inability to find truly integrated software with which to run his business, Chad concluded that he needed to create his own technology solution. In 2014, he founded Skubana, which makes cloud-based operations software specifically for high-volume ecommerce sellers. Dave Bayless spoke with Chad about how technology can empower your ecommerce business.