Startup Professionals Musings

NOVEMBER 14, 2012

What I’m talking about here is a level of discipline and skill necessary to collect and analyze the relevant business data, known as metrics. Here is my selection of ten key metrics that every six-sigma joint like GE tracks without thinking, but too many small businesses only monitor haphazardly, if at all: Sales revenue.

Metrics 106

Metrics Startup Sales Statistics 106

Startup Professionals Musings

MAY 26, 2021

For internal measurements, the metrics should always be written and clear. You can’t make up the difference by raising their salary, or dropping the price of your product. For multiple party contracts, always document. I see too many trust disputes that could have been avoided by written agreements.

Company 165

Company Companies Metrics Entrepreneur 165

Both Sides of the Table

SEPTEMBER 18, 2014

Me: At what price? Him: It wasn’t priced. So you did raise with a price. It’s just a maximum price. Him: But when I raised my first round we didn’t know how to price the company. There were no metrics. How will you price the next round? Him: On metrics. Me: With a cap?

Venture Capital 417

Venture Capital Capital Pricing Doc 417

Startup Professionals Musings

JUNE 5, 2019

Now customer support is called the “customer experience,” and everyone is expecting you to actually anticipate their personal needs, and totally delight them with all aspects of the shopping experience, price versus value, as well as help with any follow-on questions or problems. Company amazingly finds you based on your interests.

Customer 84

Customer Custom Company Companies 84

Both Sides of the Table

SEPTEMBER 10, 2021

I’m over-paying for every check I write into the VC ecosystem and valuations are being pushed up to absurd levels and many of these valuations and companies won’t hold in the long term. However, to be a great VC you have to hold two conflicting ideas in your head at the same time. dot-com bonanza. Seed has become an option factory for many.

Venture Capital 471

Venture Capital Writing Invest Pricing 471

Berkonomics

NOVEMBER 7, 2019

Is it worth the time and effort when measured from the perspective of the company and of the employee? What metrics will you use to fairly evaluate each direct report? One argument: legal protection for the company. Alignment of employee goals with those of the company. In terms of value…well let’s examine that.

Metrics 120

Metrics Report Email Pricing 120

Startup Professionals Musings

JUNE 23, 2021

For example, I commonly see metrics to keep track of revenue per employee, overtime, and absenteeism, but I don’t often see measures of overall customer satisfaction with individual employees. Incentives should be a combination of metrics and recognition to highlight results. Incent and reward employees who delight customers.

Customer 147

Customer Custom Technical Review Metrics 147

Startup Professionals Musings

JANUARY 17, 2022

He talks in detail about ten of the key challenges that Facebook faced in their growth, to move from a tiny social media upstart to one of the most successful companies in the world. Pick a single metric that is the focus for all growth. For many companies, the long game is choosing the right strategic partners and acquisitions.

Startup 144

Startup Social Media Metrics Customer 144

Startup Professionals Musings

JUNE 20, 2022

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

eBook 111

eBook Metrics Examples Startup 111

Startup Professionals Musings

SEPTEMBER 22, 2023

It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. Companies with great service routinely spend 3% to 5% of salaries training team members – experienced as well as new. Make your service deliver process “happy.”

Competition 99

Competition Services Startup Training 99

Startup Professionals Musings

MAY 30, 2022

According to one study a decade ago, only 45% of founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics. Marketing shapes the concept, branding, packaging, pricing, and positioning.

Sales 147

Sales Metrics Guide Startup 147

socalTECH

MARCH 21, 2016

Santa Monica-based TrueCar has begun ranking vehicles, based on how well their values hold up in the pre-owned vehicle market, through an annual "TrueCare Pre-Owned Value Awards" program, the company said over the weekend.

Truecar 100

Truecar Santa Monica Metrics Pricing 100

Startup Professionals Musings

JUNE 18, 2023

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entree for the first time – you need a recipe, even though it may look simple. All the investment money in the world won’t make your company succeed, if you have the wrong team. In all cases, don’t skip the basic training.

Startup 112

Startup Coach Metrics Marketing 112

Berkonomics

MAY 20, 2021

Enterprise time, as opposed to personal time management, is the sum total of resources available to a company expressed in terms of time – time to develop, to debug, to produce, to deploy, to respond to issues, and to make changes in plans that are not working. But first, identify what those critical resources are in your company.

Resource 156

Resource Outsource Development Metrics Customer 156

Startup Professionals Musings

JANUARY 8, 2021

It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. Companies with great service routinely spend 3% to 5% of salaries training team members – experienced as well as new. Make your service deliver process “happy.”

Startup 154

Startup Training Customer Custom 154

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. You can be pissed off, but I don’t set prices. That’s stupid.

Startup 336

Startup Pricing Technical Review Marketing 336

Startup Professionals Musings

MAY 1, 2019

For example, one of the first home grocery delivery companies, Webvan, was so enamored with early traction in Silicon Valley, it raised and spent nearly a billion dollars and went public, before filing for bankruptcy three years later. Control costs and adjust prices to maintain your margin.

Metrics 86

Metrics Startup Training Customer 86

Startup Professionals Musings

JULY 26, 2021

For larger and mature companies, the hard part seems to be giving up the familiar space that isn’t working so well anymore, so that you can focus on a new segment or opportunity. It’s a tough world even for big-company generalists, who take on the complexities of product diversification. Well-articulated goals and metrics.

Startup 154

Startup Resource Entrepreneur Metrics 154

Both Sides of the Table

MAY 27, 2016

I was speaking recently to the team at NuOrder , an LA-based company we’re an investor in about “realism in startups” — an impromptu talk I have given to any of our portfolio companies who ask. I work with two companies that aim to change education but both are indirectly aiming to do so. Early stage.

Invest 254

Invest Writing Pricing Metrics 254

Tech.Co

FEBRUARY 18, 2021

Companies all around the world use Trello to help manage projects and coordinate team tasks and responsibilities. See our full Trello Pricing guide for more. You can also use Table to provide the big bosses with an overview of progress towards company goals as you can easily collate lots of initiatives in one go. Trello Views.

Software Review 149

Software Review Guide Technical Review Class 149

Startup Professionals Musings

SEPTEMBER 21, 2020

I realized a while back that creating a new company for the first time is a lot like whipping up a great dinner entrée for the first time – you need a recipe, even though it may look simple. All the investment money in the world won’t make your company succeed, if you have the wrong team. In all cases, don’t skip the basic training.

Startup 156

Startup Coach Metrics Marketing 156

SoCal CTO

MARCH 11, 2013

If you do build the MVP and show it to them, they will ask you about your metrics. They really want metrics, not a product. The real question you should be asking is "When I've built this product and show you the following metrics, would you invest?" What The Heck Does “Traction” Really Mean To A VC?

Metrics 264

Metrics Venture Capital News Product 264

Berkonomics

DECEMBER 6, 2012

Is it really worth the time and effort when measured from the perspective of the company and of the employee? Many companies do not take the time to perform such reviews, and end up paying the price in adverse rulings by courts or commissioners based upon verbal statements alone. Email readers, continue here.] Review the CEO?

Metrics 153

Metrics Email Pricing Tool 153

Startup Professionals Musings

DECEMBER 27, 2019

Incorporate AI-powered data and metrics systems. Their pricing algorithm crawls the Web daily, and adjusts prices to always match the lowest price found anywhere, offline or online. Make your company a ground-breaking invention machine. They help hiring managers raise the bar for every interview.

Marketing 123

Marketing Technical Review Customer Custom 123

Both Sides of the Table

NOVEMBER 14, 2017

An alternate outcome that I also unfortunately observe in some cases are companies who had extreme early success with an initial product adoption but failed in key areas that limited the growth and therefore the ultimate financial outcomes. I see many companies that don’t make this transition well.

Startup 286

Startup Technical Review Customer Custom 286

Startup Professionals Musings

NOVEMBER 30, 2022

Implicit in effective marketing of yourself and your solution are a set of skills that every professional needs and can develop over time in business, whether their focus is on career advancement, or starting your own company. Using metrics to measure results and commitments. Maintaining an insatiable curiosity about change.

Startup 113

Startup Customer Custom Technical Review 113

Startup Professionals Musings

OCTOBER 20, 2023

Networking to build and maintain positive relationships with the right people outside your company is something you can’t forget in the rush to get your new business going. For example, consider Whole Foods , whose focus on healthy foods and a sustainable environment is legendary, even though their prices are often a bit higher.

Marketing 116

Marketing Resource Training Startup 116

Startup Professionals Musings

AUGUST 21, 2021

In my experience, less than half of founding entrepreneurs even aspire to stay and scale their company. Explosive growth to an enterprise normally requires a scalable sales model, a well-documented process with incentives, training, and metrics for tracking and management. Switch your focus from product development to sales.

Startup 151

Startup Course Sales Entrepreneur 151

Startup Professionals Musings

JANUARY 6, 2021

It’s important to define your growth strategy, document it, communicate it to your team, and align metrics and employee rewards to target goals. The company has since gone public, and is still a market leader. Build a strong employee culture focused on growth. Plan a long-term strategy, and avoid crisis moves.

Technical Review 160

Technical Review Technical Advisors Startup Mentor 160

Both Sides of the Table

NOVEMBER 2, 2010

Some objections are real and they end up becoming changes to your product, your service plan or your pricing / bundling. As a founder, when you’ve been dealing with these kinds of objections for a couple of years it becomes natural and you easily handle objections on price, product & competition without much thought.

Sales 289

Sales Startup Training Pricing 289

Startup Professionals Musings

SEPTEMBER 20, 2019

For example, if it’s getting harder to charge a price premium for the product you’re marketing, or others are offering your subscription service for free, it may be time to start thinking in a new box. Another example is seeing substitute versions of a product, like eBooks, for a low price displacing hardcover books.

Entrepreneur 93

Entrepreneur eBook Metrics Examples 93

Startup Professionals Musings

JUNE 2, 2021

As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today. Features, availability, and brand are just the price of entry. The real challenge is to win massive consumer preference repeatedly.

Competition 142

Competition Software Review Social Media Customer 142

Startup Professionals Musings

APRIL 15, 2019

He talks in detail about ten of the key challenges that Facebook faced in their growth, to move from a tiny social media upstart to one of the most successful companies in the world. Pick a single metric that is the focus for all growth. For many companies, the long game is choosing the right strategic partners and acquisitions.

Social Media 87

Social Media Metrics Customer Custom 87

Startup Professionals Musings

SEPTEMBER 1, 2019

According to one study a while back, only 45% of founders plan to exit after stage one, and my guess is that less than half the remainder survive the next stage in their own company. Managing business growth is more than metrics. Marketing shapes the concept, branding, packaging, pricing, and positioning.

Startup 97

Startup Sales Metrics Guide 97

Both Sides of the Table

OCTOBER 10, 2011

The big price increase : 5 out of 5 stars. Some customer segments value the DVD business and these may be more price sensitive. They might be willing to pay higher prices (and perhaps not an “all you can eat” price but a “pay as you go” price per film). No, probably not. A blog post!

Netflix 287

Netflix Customer Custom Pricing 287

Both Sides of the Table

DECEMBER 27, 2011

Exec Summary: Most companies (98+%) in the world (even tech startups) should be very profit focused. While Google and Facebook will buy “acquihires” (at least as of Dec 2011), many acquirers hate the idea of buying companies that aren’t profitable. ” But they want to do it with leverage.

Startup 418

Startup Venture Capital Sales Technical Review 418

Startup Professionals Musings

AUGUST 7, 2020

In the short term you need customers to find you at any price, and in the longer term you need revenue, profit, and return loyalty. In a larger public company, it’s all about making your quarterly numbers, versus investing in strategic growth alternatives that may not pay off until several quarters later.

Technical Review 124

Technical Review Layoffs Social Media Metrics 124