How Startups Can Use Metrics to Drive Success

Both Sides of the Table

Having a set of metrics that you watch & that you feel are the key drivers of your success helps keep clarity. And the more public you can make your goals for these key metrics the better. Revenue Metrics. No metrics = high level, more generalized advice.

Non-millennial Bootstrapping – These 50-Something Entrepreneurs Rejected VC $ And Nailed It

InfoChachkie

Without taking a dime of outside capital, the company has achieved impressive success in a competitive, SaaS market segment, landing companies such as Nike, Intuit, NASA, AutoDesk and PBS. Semick: We’re a very metrics driven company, and we have been from the beginning.

The Yo-Yo Life of a Tech Entrepreneur – A Cautionary Tale

Both Sides of the Table

TechCrunch Europe ran an article in November of last year that European startups need to work as hard as those in Silicon Valley and I echoed the sentiment in my post about the need for entrepreneurs to be maniacal about their businesses if one wants to work in the hyper competitive tech world.

Accurate assumptions lead to defendable plans

Berkonomics

It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you’ve researched, or selected, or even just guessed at to create your plan. The biggest error in planning may not be spreadsheet calculation error.

Joey Flores On Earbits' Life, Death, and Resurrection

socalTECH

We had some investors very interested but wanted us to validate some metrics, so we spent time building things to prove those metrics. The number one thing we are doing is making a competitive listening experience for our users.

After 20 years: Updating the Berkus Method of valuation

Berkonomics

So how do you use financial projections as valuation metrics when you know the odds of those being accurate predictors of the future are so very unreliable? For example, in Silicon Valley, a “big data” startup might competitively call for a $1.5 Well, it had to happen.

Interview with Scot Lawrie and John Rhodes, Coverfly

socalTECH

Writers can submit their scripts into these programs, and the dashboards make it convenient to track, and it also allows them to track placement and their scores in these competitions. We saw that there were a lot of talent discovery programs out there, such as screenwriting fellowships, labs, film festivals, workshops, and writing competitions. It just sort of took off from there, so I began pitching this around town to all these labs and competitions, who have come on board.

Startup Fundraising 101: Getting Ready To Raise A Round

Tech Zulu Event

There’s plenty of capital out there, but there’s also a lot of competition for startup funding. These are usually the first sources entrepreneurs tap. Examples of milestones: traction as measured by user numbers and user engagement; financial metrics such as cash flow and revenue.

The Loneliness of Success that Nobody Talks About

Both Sides of the Table

Entrepreneurs could learn about loneliness of success: nobody talks about. The Yo-Yo Life of a Tech Entrepreneur.

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Lessons Learned From The Accelerator Trenches: MuckerLab's Erik Rannala

socalTECH

When a company either has revenues, if that''s the primary metric, or if it''s a consumer application, high user acquisition and engagement, we know there is some degree of product-market-fit. What''s your one piece of advice for entrepreneurs?

What I’ve Learned About Venture Funding

Both Sides of the Table

With perfect information and too much competition you pay up or they walk right down the street and get it from somebody else.” The funny thing about “too much money” is that it doesn’t just come from entrepreneurs. VC funding.

Here’s Why a Booming Tech Market May Fool You into Thinking You’re Successful

Both Sides of the Table

I’d like to do a few posts on what life looks like on the way up and perhaps how to keep your head on straight and avoid drinking your own Kool Aid because as I often advise entrepreneurs on irrational exuberance, “ In a strong wind even turkeys can fly.” Create company measures for success that go beyond financial metrics. You manage what you measure so be careful about having too narrowly defined of performance metrics.

How I Invest

Both Sides of the Table

As a starting point I have to believe the founder has the attributes of an entrepreneur that matter most to me : Tenacity, resiliency, inspiration, perspiration, attention-to-detail, competitiveness, decisiveness, risk tolerance and integrity. 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.

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6 Steps To Raising Venture Capital – Hint: Preparation Matters More Than Your Pitch

InfoChachkie

The same should be true of an entrepreneur who is attempting to secure money from sophisticated investors. VCs collude all the time, it is only fair that entrepreneurs compare notes every now and again as well.”.

In 15 Years From Now Half of US Universities May Be in Bankruptcy. My Surprise Discussion with @ClayChristensen

Both Sides of the Table

We talked about how business school historically hasn’t positioned entrepreneurs well for success. I wrote about that before in a post about “ whether MBAs are necessary for entrepreneurs. His class reading lists could be a primer for any entrepreneur, not just MBAs.

Why You Need to Ring the Freaking Cash Register

Both Sides of the Table

I remember just a decade ago in 2003 when we all laughed at how dumb people in the 90′s were talking about the race to “capture as many eyeballs as possible” before your competition. I work with a lot of startups.

Why Startups Should Raise Money at the Top End of Normal

Both Sides of the Table

I have conversations with entrepreneurs and other VCs on a daily basis about fund raising, the prices of deals, how much companies should raise, etc. while acknowledging that San Fran deals are often higher valuations due to increased competition amongst investors.

How to Decrease the Odds That Your Startup Fails

Both Sides of the Table

In our industry we applaud the efforts for entrepreneurs to have tried and we know that today’s failure can bring the experience for tomorrow’s success. For example, if you’re going to build a travel planning website (as many, many startup entrepreneurs do) your basic research would be: How much do people spend on travel books / guides today? The metrics were good but we wondered how much better they would be when we expanded our product. Competition.

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Top 29 Startup Posts May 2010

SoCal CTO

Why Entrepreneurs Hate Lawyers. In many of them I get asked similar questions, including the inevitable “what makes a great entrepreneur?” LIFT10: Workshop on Hacking Venture Capital - Fred Destin , May 7, 2010 This morning at the excellent LIFT Conference I gave a two hour workshop on " Hacking Venture Capital " designed to give entrepreneurs a hands-on experience of (a) pitching and (b) negotiating with detailed debrief and tricks of the trade.

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What I *Would Have* Said at TechCrunch Disrupt

Both Sides of the Table

These days that’s not the case and it’s a great outcome for entrepreneurs and for innovation. A: Only because it’s a nicer branding for entrepreneurs. I totally agree and have been arguing this to entrepreneurs for years.

16 Great Startup Posts from March

SoCal CTO

Death By Competitive Analysis - Steve Blank , March 1, 2010 Trading emails with a startup CEO building an iPhone app, I asked him why potential customers would buy his product. In response he sent me a competitive analysis. It looked like every competitive analysis I had done for 20 years, (ok maybe better.) One thing I have found interesting is that amongst first-time software entrepreneurs, certain “patterns” of applications kept recurring.

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Top 30 Startup Posts for July 2010

SoCal CTO

Welcome to the Lost Decade (for Entrepreneurs, IPO’s and VC’s) - Steve Blank , July 15, 2010 If you take funding from a venture capital firm or angel investor and want to build a large, enduring company (rather than sell it to the highest bidder), this isn’t the decade to do it. Wannabe entrepreneur symptoms and cures - Gabriel Weinberg , July 25, 2010 I was once a wannabe entrepreneur. Metrics availability.

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Should Startups Focus on Profitability or Not?

Both Sides of the Table

” I mention journalists here because they perpetuate the myth that focusing on profits is ALWAYS the right answer and then I hear many entrepreneurs (and certainly many “normals”) repeating the same mantra. I have had this discussion with many a first-time entrepreneur.

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3 Ways to Create a High Performance Company Culture

Frank Addante

Moneyball points to a greater point: as a leader, it’s not just about measuring standard, vanilla metrics and goals, it’s about determining and measuring the right metrics and goals. As entrepreneurs, it’s important we give our team the tools and environment they need to be elite performers. Great company culture isn’t just about ping pong tables, free lunches, bouncy ball chairs and free gummy bears. In fact, it’s not about that at all.

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3 Ways to Create a High Performance Company Culture

Frank Addante

Moneyball points to a greater point: as a leader, it’s not just about measuring standard, vanilla metrics and goals, it’s about determining and measuring the right metrics and goals. As entrepreneurs, it’s important we give our team the tools and environment they need to be elite performers. Great company culture isn’t just about ping pong tables, free lunches, bouncy ball chairs and free gummy bears. In fact, it’s not about that at all.

Class 40

Raising $$ on AngelList? Working w/ McClure? Ask Jody Sherman

Both Sides of the Table

I was saying that I was happy it was all out in the open because I felt at least everybody could now understand the issues & opportunities from the perspectives of angels, entrepreneurs and VCs. EcoMom’s metrics improved throughout this process and that’s when I decided to invest.

amSTATZ Social Network For Fitness Gurus, Athletes & Events | Interview With Founder

Tech Zulu Event

Sergey’s diverse experience as an entrepreneur, technology consultant and software executive qualifies him to lead amSTATZ’s technology development. Any competition in LA? We haven’t identified any competition in LA, specifically.

It’s Morning in Venture Capital

Both Sides of the Table

The movie, “The Social Network” might have had more of an impact on creating future entrepreneurs than any other event of the past 5 years. Yes, it’s true that FOMO (fear of missing out) is driving some irrational behavior and valuations amongst uber competitive deals and well-financed VCs.

Let’s Get Weird, a SXSW Interactive Recap (2014)

Tech Zulu Event

Tons of great conversations about new startups, hardware, and the entrepreneurs building them. Founders, Entrepreneurs, and Celebrities, Oh My! Whether any of our bright entrepreneurs and their startups will become the new NEST or Whatsapp, we’re definitely rooting for them.

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Surveying SoCal's M&A Landscape, with David Siemer

socalTECH

For a similar company, with the same metrics and stage, valuations had been tiny. They have to be sensitive to competitive dynamics, but, if you are in ad-tech, and WPP or Google is the best buyer for your company, why not spend some time with a VP at Google?

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