Author name: startup_admin

Competitive advantage increases revenue by 30% over the competition or decreases cost by 30%. Here are five sources of competitive advantage: Recurring revenue Channel access Platform-based solution instead of singular products. Network effects in action (the value of the product increases with the number of users) Virality (not the same as network effects; users invite other users) Most businesses increase in value as the customer base grows as it validates the product/service and encourages others to use it. If a business can harness that customer base and turn it into a community that more aggressively attracts other users then it’s a competitive advantage.  Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more. Connect with him about fundraising, business growth, and emerging technologies

Competitive advantage increases revenue by 30% over the competition or decreases cost by 30%. Here are five sources of competitive advantage: Recurring revenue Channel access Platform based solution instead of singular products. Network effects in action–the value of the product increases with the number of users Virality (not the same as network effects) (users invite other users) A platform-based solution is a competitive advantage over a single product as it provides a solution that works for more than just one type of customer. Platform solutions have a lower cost than single products because you can reuse the research, design, architecture, packaging, and other aspects. Platforms also reduce the cost of supporting the customer as you can reuse support resources. Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more. Connect with him about fundraising, business growth, and emerging technologies

Competitive advantage increases revenue by 30% over the competition or decreases cost by 30%. Here are five sources of competitive advantage: Recurring revenue Channel access Platform-based solution instead of singular products. Network effects in action (the value of the product increases with the number of users) Virality (not the same as network effects; users invite other users) Channel access indicates you can connect to a group of customers that others cannot access. Perhaps your previous job gave you contacts throughout the industry that you can now leverage for your startup. Perhaps you have found a social media channel, SEO, email, other marketing channels that work well. It takes some experimenting to find that channel. In your pitch to investors, you want to highlight this as it’s a key differentiator. It may not be a sustainable advantage for the long haul, but it can be crucial to launching your startup. Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more. Connect with him about fundraising, business growth, and emerging technologies

Competitive advantage increases revenue by 30% over the competition or decreases cost by 30%. Here are five sources of competitive advantage: –Recurring revenue –Channel access –Platform-based solution instead of singular products. –Network effects in action–the value of the product increases with the number of users –Virality (not the same as network effects) (users invite other users) In today’s world, you would think every business has recurring revenue.  Yet, I find most businesses who are raising funding did not structure their business that way. Recurring revenue helps your business in several ways. It opens up your business to new customers who could not afford your product previously because the one-time payment was too high. By breaking the payment into smaller steps, more customers can afford it. It provides a known revenue stream so you can plan your business better as you know how much you will have coming in. Overall this should increase your revenue in the long run by 30%. Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more. Connect with him about fundraising, business growth, and emerging technologies

When I ask an entrepreneur what their competitive advantage is, most point to their product and say it’s better. Of course, they spend ten minutes citing anecdotal stories to “prove” it. My definition of a competitive advantage is that it increases in revenue by 30% over the competition or a decrease in cost by 30%. Here are five sources of competitive advantage: –Channel access –Recurring revenue –Platform based solution instead of singular products. –Network effects in action–the value of the product increases with the number of users –Virality (not the same as network effects, users invite other users) These advantages give your business the ability to scale. Scale comes from revenue increasing faster than cost. In raising funding, competitive advantages can make the difference in closing an investor. The key is to quantify the effects of the advantage in dollars. If you just say you have it then it will convince no one. You must demonstrate with numbers. Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more. Connect with him about fundraising, business growth, and emerging technologies