Why You Need Tools And Analytics For Employee Metrics

Startup Professionals Musings

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people. Use data analysis and metrics to measure for results.

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.

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10 Metrics To Drive Your Annual Business Review

Startup Professionals Musings

Entrepreneurs have no trouble focusing on how to build a product, and the good ones know how to find and nurture those first critical customers. 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.

8 Principles For Building A Competitive Core Business

Startup Professionals Musings

Based on my experience advising new businesses, all of the principles that he outlines, including the following subset which I generalize here, should be taken to heart by every entrepreneur: Give customers fewer things that matter more. Pick a single metric that is the focus for all growth.

10 Key Metrics To Take a Startup to the Next Level

Startup Professionals Musings

Entrepreneurs have no trouble focusing on how to build a product, and the good ones know how to find and nurture those first critical customers. 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.

5 Startup Challenges That Derail Many Entrepreneurs

Startup Professionals Musings

As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. business challenges entrepreneur startup

10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

Entrepreneurs see “no risk” as meaning “no reward.” Many risks can be managed or calculated to improve growth or provide a competitive edge, while others, like skipping quality checks to save money, are recipes for failure. Use metrics to measure results of marketing initiatives.

How Great Entrepreneurs Spell Continuous Innovation

Startup Professionals Musings

As a startup investor in this age of the entrepreneur, I see many more startups, but innovation is still hard to find. An entrepreneur looking for a sure thing will never innovate. corporate entrepreneur innovation startup

10 Keys To Delivering Innovation As An Entrepreneur

Startup Professionals Musings

As a startup investor in this age of the entrepreneur, I see many more startups, but innovation is still hard to find. An entrepreneur looking for a sure thing will never innovate. Once a new product is launched, a key metric is the ratio of new product sales to overall sales.

7 Tips To Test Your Idea As A Part-Time Entrepreneur

Startup Professionals Musings

Many experts will tell you that you can’t succeed as a part-time entrepreneur, as any good startup will require a 100 percent commitment of your time and energy. Thus I often recommend that entrepreneurs keep their day job until the startup is producing revenue.

Ideas 104

8 Signs Of Change That Good Entrepreneurs See First

Startup Professionals Musings

Changes in your organization’s core performance metrics. If one metric changes, it may not be significant, but someone needs to monitor whole categories for fluctuations that may be a weak signal. business entrepreneurs Loc de Brabandere startup weak signals

8 Deadly Wastes That Every Entrepreneur Must Avoid

Startup Professionals Musings

Every entrepreneur I know is short on resources, including time, money, and skills. Waste in a startup is any activity that absorbs resources, but creates no value or competitive advantage in the eyes of customers. Too many entrepreneurs confuse action with momentum and results.

5 Ways Entrepreneurs Are Chefs Creating New Recipes

Startup Professionals Musings

Develop metrics with which to measure yourself and use these to incrementally expand and improve your offering as fast as the market and capital will allow. business plan Emeril Lagasse entrepreneur great chefs startup

5 Keys To Business Culture That Are Counter-Intuitive

Startup Professionals Musings

These things are clearly good for morale, but its not so clear that they translate into a competitive advantage. These authors present 20+ years of research, including case studies and metrics, showing how culture really makes or breaks your business.

Coach 76

How Entrepreneurs Get Out Of Their Comfort Zone

Startup Professionals Musings

The solution is to establish and maintain a culture and processes that don’t view change as a discrete event to be spotted and managed, but as an ongoing opportunity to improve competitiveness. business change rate comfort zone entrepreneur startup

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.

7 Action Items Build A Sustainable Innovation Culture

Startup Professionals Musings

In my own work as an advisor to many entrepreneurs and startups, I see many who are focused on that single big disruptive innovation that will change the world. Decide what to measure and create metrics. Design your invisible competitive advantage.

The Bar Keeps Going Up for Venerable Entrepreneurs

Startup Professionals Musings

Entrepreneurs are now measured against the “triple bottom line” (TBL or 3BL) of people, planet, and profit. How does any entrepreneur define the right balance, and then measure their performance against real metrics?

Entrepreneurs Must Be Adept at Rapid Realignment

Startup Professionals Musings

Every entrepreneur’s first priority should be the alignment of interests across the range of constituents required for success – partners, investors, customers, vendors, and employees. entrepreneur vision startup George Labovitz realignment Victor Rosansky business

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.

Some Entrepreneurs Think They’re Celebrity Chefs

Startup Professionals Musings

Alain Theriault, better known as StartupCoach , tells entrepreneurs that, on your way to being a great chef, you don't start by writing a cook book (business plan), you work in the kitchen for a while, you learn some tools of the trade, you experiment with a few recipes, you test on willing clients.

Smart Entrepreneurs Start With a Cookbook

Startup Professionals Musings

Develop metrics with which to measure yourself and use these to incrementally expand and improve your offering as fast as the market and capital will allow. Tags: entrepreneur startup success recipe business

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.

8 Startup Lessons From “The Founder” Movie

InfoChachkie

As a Professor at UC Santa Barbara , I constantly battle Hollywood’s stereotype of the rapacious, maniacal businessperson, by teaching my students that Honesty is a competitive advantage. Michael Bloomberg, American Entrepreneur and Politician. Entrepreneur

10 Principles For Sustainable Innovation In Business

Startup Professionals Musings

As a startup investor in this age of the entrepreneur, I see many more startups, but innovation is still hard to find. An entrepreneur looking for a sure thing will never innovate. Once a new product is launched, a key metric is the ratio of new product sales to overall sales.

Coach 94

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.

8 Disciplines for Transforming Ideas Into Businesses

Startup Professionals Musings

Entrepreneurs are people who dream up new ideas, and then commercialize them into new businesses. Yet, in my experience as a mentor to entrepreneurs, the majority of failures I see are related to starting and growing the business, not developing the solution.

Ideas 90

8 Management Behaviors Drive Change Without Crisis

Startup Professionals Musings

I will suggest to you as a business owner and entrepreneur that focus on certain key behaviors will drive innovation without waiting for the next competitive crisis: Be outspoken in communicating proactive required change. Set metrics and rewards specifically for innovation.

Use Key Strategic Elements To Avoid Business Plateaus

Startup Professionals Musings

Highlight your competitive value, not your technology. It starts with continually optimizing your business model, using analytics on all the data, and creating and using metrics to measure your performance and progress to date.

Eyeballs aren’t everything.

Berkonomics

Back when we were all trying to figure out the real value of traffic on the web, we investors – and acquiring companies – got a bit crazy with metrics used to value acquisitions and investments.

7 Rules For Maintaining A Creative Business Culture

Startup Professionals Musings

The most competitive startups do both, all the time and every time. In today’s competitive world, with its accelerating rate of change, no competitive advantage lasts long. The only sustainable competitive advantage is creativity.

10 Strategies To Isolate Smart Risks In A New Venture

Startup Professionals Musings

Entrepreneurs see “no risk” as meaning “no reward.” Many risks can be managed or calculated to improve growth or provide a competitive edge, while others, like skipping quality checks to save money, are recipes for failure. Use metrics to measure results of marketing initiatives.

8 Keys To Real Innovation Outside of Silicon Valley

Startup Professionals Musings

From my consulting with entrepreneurs in Europe and other countries, I’m convinced that we all could benefit from adapting to meet their environments. Competition is not always a bad thing, and the real purpose is often to make the world a better place.

10 Ways To Prepare For Competitors You Don’t See Yet

Startup Professionals Musings

I hear it all the time as an angel investor, but I also see that same naïve or cavalier attitude come back to haunt entrepreneurs once they really get out in the marketplace. What metrics should you use to measure success? competitors entrepreneur preparation startup

10 Strategies To Minimize The Perils Of A Startup

Startup Professionals Musings

Entrepreneurs see “no risk” as meaning “no reward.” Many risks can be managed or calculated to improve growth or provide a competitive edge, while others, like skipping quality checks to save money, are recipes for failure. Use metrics to measure results of marketing initiatives.

6 Trends Generate Huge Data And Startup Opportunities

Startup Professionals Musings

As an entrepreneur, what steps can you take to help your business not only survive the data hurricane, but to thrive under these new and challenging conditions? Data enable: use metrics and measurements. Big Data christopher surdak cisco entrepreneur mobile data opporunities

8 Ways Startups Spend Resources Without Adding Value

Startup Professionals Musings

Every entrepreneur I know is short on resources, including time, money, and skills. Waste in a startup is any activity that spends resources, but creates no value or competitive advantage in the eyes of customers. Too many entrepreneurs confuse action with momentum and results.

6 Trends Are Driving A Data Tsunami For Startups

Startup Professionals Musings

As an entrepreneur, what steps can you take to help your business not only survive the data hurricane, but to thrive under these new and challenging conditions? Data enable: use metrics and measurements. Christoper Surdak data tsunami entrepreneur startup

5 Steps To Get You From Your First Idea To A Business

Startup Professionals Musings

That’s why I caution my aspiring entrepreneur clients against proclaiming to investors that they are a great “idea” person. Then, he'll need to patent it and create a plan to show opportunity, competition, and financial projections.

Ideas 105

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.

7 Keys to Positive Results Utilizing Social Media

Startup Professionals Musings

They randomly churn for hours a day on a couple of their favorite social media platforms, with little thought given to goals, objectives, or metrics; and ultimately give up and fall back to traditional marketing approaches. Create an action plan with metrics.

7 Steps To Driving A Culture Of Business Innovation

Startup Professionals Musings

In my own work as an advisor to many entrepreneurs and startups, I see many who are focused on that single big disruptive innovation that will change the world. Decide what to measure and create metrics. Design your invisible competitive advantage.

5 Engagement Principles Now Drive Business Leadership

Startup Professionals Musings

In the same way, great entrepreneurs and company leaders should no longer rely on faceless and nameless processes to drive business strategy and innovation to stay competitive. Focus on two or three pertinent metrics in any situation.