Marketing budgets have long been the favourite target of CFOs when it comes time to reduce spending. The saying used to be that we knew half of our marketing spend was effective, we just didn’t know which half. So in the absence of a fact-driven defense of this often big expense area – it’s the first to get the axe.
Problem is, the rules have all changed now. In this era of user generated content, social networks, blogs, etc. it’s no longer about delivering marketing messages. Now it’s about engaging in conversations with your customers, seeing how they “feel” about you and your offerings.
Continue reading Assessing the marketing budget
The trade-off between production and maintaining productive capacity is a universal phenomenon that has effected companies and individuals for all of time. Still, the hi-tech version of this has some unique twists.
To succeed, a startup must defy the odds by creating a brand new offering, building a company around it and getting to market before someone else does the same thing. Speed is a key success factor, not just in go to market but in driving your investors’ Internal Rate of Return (IRR) – a key metric of fund success. Speed, of course, does not lend itself to optimized work-life balance.
Continue reading Sustainable drive (the goose and the golden egg 2.0)