For Start Ups, How Important Is Burn Rate?
April 7, 2015
Hosted by Bob Pritchard
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Guest Information
Episode Description
Many investors, particularly those that have been used to investing in traditional companies are always urging entrepreneurs to minimize burn rate. They also urge entrepreneurs to minimize the salaries they pay the startup team to minimize costs. A number of studies have shown that neither of these actions are in the best interests of e-commerce companies. For companies with a great business idea and a path to profitability, striving to increase burn rate, in order to increase milestone right is usually best; Microsoft at 40; what to do if you get a Cease and Desist letter; Stanford grads can earn $500,000 a year almost straight out of college. A new 3-D printer for pancakes enables you to make the most intricate pancake designs; not to be left out some bars are 3-D printing ice cubes in the most extraordinarily intricate design such as guitars in intricate detail including strings; anatomy of a well thought out startup… CQS International.
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95 percent of all businesses fail within 10 years. Most small to medium businesses struggle to make wages. Bob Pritchard is a highly regarded expert with a track record of identifying the issues facing businesses and determining simple solutions to make them highly profitable.
Despite the glitz and glamor, Entertainment operates in the same way as any other business and as we live in a Celebrity obsessed society, people will enjoy this segment. Some of the best Business and marketing screw ups illustrate in a funny and impactful way some of the pitfalls that can be encountered in business, what went wrong and why.
Every business discipline from leadership to corporate culture, marketing to customer service, seeking investment to using social media, sponsorship, hospitality and many others. Straight talking, nothing is off the table and nothing is taboo.
Bob Pritchard
Bob Pritchard has over 30 years’ experience as a straight talking business and marketing troubleshooter and consultant with many of the world’s leading companies on 5 continents. Bob is the recipient of the highly coveted International Marketer of the Year Award, a distinction he shares with some of the world’s top business leaders.
Bob's newest book, Kick Ass Business and Marketing Secrets. How To Blitz Your Competition, the 100,000 word business bible, was released globally by Wiley and Sons, the world's largest business book publisher, in August 2011.
Bob has been a Business speaker and trainer at over 1,500 conferences, including 91 Fortune 500 companies. He has presented to major corporations in 53 countries. Bob was also Joint winner of a Clio award and joint winner of 4 Silver Telly awards for work with Citibank.
Bob was a television and live performer for 15 years, appearing in some 400 television shows as a singer and actor with several recordings including one top 10 hit. He is the Author of 5 internationally best-selling books, including ‘Complex Marketing Made Simple,’ with sales exceeding 100,000 copies. Bob has a wide knowledge of business, has business interests around the world and understands global business and opportunities.
