Saturday, September 18, 2010 5:31 PM
Talk by Mike Gilbert, SCORE at Sept Entrepreneur Meetup. Summarized by Peter, Organizer
Our speaker for Thursday 16 September was Mike Gilbert, SCORE Counselor. He talked about ?Making Money in Today?s Economy?.
Mike has been a Manager at Silicon Valley computer, networking & telecom companies ? from Startups to worldwide companies ? Rolm, Echelon, Octel, Sony & Omneon. He has an MBA & PhD in Computer Science. He now teaches at Stanford & Santa Clara Univ.
At SCORE (Service Corp of Retired Executives), Mike counsels mainly Computer & Networking companies.
Mike talked about ?Lessons from the Revenue Boot-camp of Summer ?09:
1. Offer FREE Content of your most popular product, to build a big Customer base and you can upgrade some to your Premium paid service.
2. Specialize. Customers are willing to pay more for a unique content that meets their exact needs ? which is the most comprehensive available.
3. Target your core Customers by finding out what they want, providing it, then getting the word out to more of them.
4. Find out what your Competition is offering, then provide significantly more ?value? than they do. That will motivate your Customer to ?buy you?.
5. Test, Test, Test & don?t rest !!! Start small, with little risk, and try variations of your product/service to find out which the Customers like the best. Expand that.
6. Measure how you?re doing, so you know what works & what don?t.
7. Express your Passion. In order to get your Staff, Customers & Investors impressed with your Product, they must see your passion for it.
8. Build a Team that is passionate about your Vision - who will be dedicated & inspiring to each other and the Customers.
For more Info, contact Peter, Organizer or Mike at SCORE.