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.

10 Metrics To Drive Your Annual Business Review

Startup Professionals Musings

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. Sales data needs to be correlated to advertising campaigns, price changes, seasonal forces, competitive actions, and other costs of sales.

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8 Principles For Building A Competitive Core Business

Startup Professionals Musings

I found some good lessons in this regard in a new book, “ Becoming Facebook ,” by Mike Hoefflinger, the former Head of Global Business Marketing at Facebook. Too many choices confuse all customers, and make your job in marketing, distribution, and support much more difficult.

10 Key Metrics To Take a Startup to the Next Level

Startup Professionals Musings

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. Sales data needs to be correlated to advertising campaigns, price changes, seasonal forces, competitive actions, and other cost of sales.

7 Steps To A Winning Social Media Marketing Campaign

Startup Professionals Musings

Image via Pixabay Most startups, and many big businesses, still don’t have a clue on how to use social media productively for marketing their business. Ric Dragon, an expert in online marketing, in his classic book. Create an action plan with metrics.

6 Keys to Marketing Customer Experience vs Products

Startup Professionals Musings

Exactly what is that customer experience that every modern marketer is talking about, and how do you measure it? One metric now commonly used is called the Net Promoter® Score (NPS). Satisfied but unenthusiastic customers who can be easily wooed by the competition.

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

Both Sides of the Table

Since 2009 we’ve been in an unequivocal bull market. You’d imagine that companies selling tons of shelfware would quickly meet their deserved fate in the market, yet the spin around a category of software can fool buyers into thinking they “must have this product to compete.” Growth markets have a way of fooling us all. When markets start to turn shelfware companies are the quickest to die.

3 Important Facebook Marketing Trends in 2016

Tech Zulu Event

Social networking continues to be a superior force in marketing, especially Facebook. Top 3 Important Facebook Marketing Trends to Watch and Emulate. The way to get ahead of the competition is to look at what they’re doing right and do it better.

6 Startups Actions to Survive a Volatile Market

Startup Professionals Musings

Despite their own focus on changing the world, they often forget that they too have to change rapidly and often as the market evolves. Relevant skills include continuous improvement of existing methods, processes and devices against a set of quality metrics.

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. It’s easy to find someone to quote a size of market estimate.

Timing and why we’re all VCs

TechCrunch LA

Capitalism is fundamentally about timing, since market competition is about finding opportunities before others. But we can also be way too early, ahead of the market and losing out on alternative opportunities that might have been more valuable.

Should Startups Focus on Profitability or Not?

Both Sides of the Table

As I like to say, “If you’re really on to an enormous idea then other people in the market are going to spot that and want to compete with you. If you have a market lead then raising capital and making investments now will help you as others enter the market.

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It’s Morning in Venture Capital

Both Sides of the Table

They need a combination of capital and experience to separate from the rest of the pack – the low cost of starting a business means it is even more vital to become the market leader more quickly. And by the C round it seems like investors feel more confident in setting a fair market value.

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.

How do you measure your effectiveness as a leader?

Berkonomics

We can invent lots of metrics to measure progress for a leader, including revenue, profit, employee satisfaction, cost containment, percentage of available market, and more. There are many roads to Rio, so they say.

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.

How to Prepare for a Board Meeting to Make Sure you Crush It

Both Sides of the Table

Often board members themselves don’t do the work to say “what metrics would we like to see.” Any great board member should tell you, “please don’t create any performance metrics or materials that analyze the business that you’re not already creating for your own management’s use.”

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8 Keys To Real Innovation Outside of Silicon Valley

Startup Professionals Musings

I second his list of top innovation challenges and strategies to capitalize on untapped global startup opportunities: Create new markets rather than disrupt existing ones. Competition is not always a bad thing, and the real purpose is often to make the world a better place.

5 Tips For Startups To Win With Social Media

Startup Professionals Musings

Social media is now one of the key marketing tools, but not the only one, so the challenge is to manage the resource tradeoffs effectively by constantly assessing payback versus cost. Create an integrated conventional marketing and social media strategy.

What I *Would Have* Said at TechCrunch Disrupt

Both Sides of the Table

We need venture debt, factoring companies and public markets. There is no way for people to keep prices down – it’s a competitive market. The only solution as an investor is to sit the market out as Chris Sacca said he’s inclined to do.

I Know Everybody Told You to Send Your Fund-Raising Decks as a Link.

Both Sides of the Table

I know all of this because every VC knows this because we’ve all either funded companies that have marketing technology or we’ve seen a pitch with a company that does this. Your pitch deck should really be your best marketing tool Your pitch deck shouldn’t contain your deepest, darkest secrets and plans. And it’s not infrequent where somebody mentions a market I’m thinking about and I think, “didn’t I just see company x, y, z nine months ago who was playing in this space?”

What I’ve Learned About Venture Funding

Both Sides of the Table

Our perspectives on the topic wax and wane with market cycles. Here’s what I believe, but won’t claim to “know” because every time I think I know something the market seems to do something entirely different. The market clearly believes that. VC funding.

What Happens When Startups Turn from Their Innovation Stage to Operational Excellence?

Both Sides of the Table

What sized team can I afford in order to sell, market & provide service to these customers? But expanding beyond our core customers was going to take more effort than simply launching in new markets.

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10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

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.

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

Startup Professionals Musings

His challenge is to focus on one market, with a specific design, cost, and price. Then, he'll need to patent it and create a plan to show opportunity, competition, and financial projections. Create a written plan, with target milestones and metrics.

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Interview with Wes Nichols, MarketShare

socalTECH

We have a very sophisticated, analytics and software platform that over half the Fortune 50 are now using, to help guide how they invest in marketing and sales activities and investments. The market response model is an analytical model, which quantifies how markets respond to stimuli.

Why Startups Need a Well Articulated Strategy (And How to Think About Yours)

Both Sides of the Table

Compelling in the sense that you solve a real problem a target group of potential customers has with a product that is significantly better than the alternatives on that market. You need product / market fit. Product / market fit is everything. Markets decide.

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Who Should be on Your Startup Board?

Both Sides of the Table

This is the norm and unless you have a hugely competitive round it’s not worth fighting. In 2019 market conditions often are such that founders retain control of the board through the A-round, usually in a 2–1 (common to investor) ratio but sometimes it’s 3–2 (common to investor).

6 Technology Trends Will Spawn Countless New Ventures

Startup Professionals Musings

Surdak emphasizes that the goal is to either mitigate some of the pressure caused by data growth or to put that pressure to work for you in growing your startup and remaining competitive: Focus: play to your strengths. Data enable: use metrics and measurements.

Doing the Right Thing > Doing Things Right

Both Sides of the Table

They are tasked with “getting deals done” so they race around talking to tons of potential partners inking anything from channel sale deals , product integration, international distribution agreements, co-marketing arrangements, M&A discussions, etc. They’re tasked with doing … marketing.

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5 Startup Challenges That Derail Many Entrepreneurs

Startup Professionals Musings

Your customers and competition make unexpected moves. Key markets come and go as social and political winds drift. Smarter entrepreneurs don’t wait for a crisis to drive change, by defining key milestones and metrics for tracking progress.

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. Measure What Matters – The McDonald brothers were dogmatic about tracking metrics.

This Week in VC with Mo Koyfman of Spark Capital

Both Sides of the Table

BookRenter – plus a discussion about Chegg … what is going on in the university book market? We talked about the analogies between what NetFlix achieved in movies and whether this is relevant to the book market. Metrics: 2.5mm members, 1,000 brands, 2,500 sale events to-date.

Startup Fundraising 101: Getting Ready To Raise A Round

Tech Zulu Event

The bottom line is that you should raise to accelerate growth and in order to optimize market timing. There’s plenty of capital out there, but there’s also a lot of competition for startup funding. First things first. Why raise funds?

5 Steps to Sell the Way Your Customers Want to Buy

Startup Professionals Musings

Entrepreneurs always work hard to create an innovative product or service, but often count on standard seller marketing for sales. Schedule and run the necessary sessions to update strategic product offerings, processes, and marketing programs. Include planned measurements and metrics.

8 Change Triggers Every Entrepreneur Must Spot Early

Startup Professionals Musings

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. Changes in your organization’s core performance metrics.

Use Key Strategic Elements To Avoid Business Plateaus

Startup Professionals Musings

As a business advisor, when I bring this up, at best I will hear the defense that you are focused on the strategy of the moment, such as such as how to increase sales, or reach a new market. Highlight your competitive value, not your technology.

Today Startups Can Win Customers From Big Business

Startup Professionals Musings

Bloom’s “ The New Experts ,” that today’s customers are armed with three lethal weapons – instant access to information about every potential purchase, immense choice, and real-time comparison of competitive prices. You need a reliable system of metrics to measure your performance here.

6 Keys To Making Timely Changes To Save Your Business

Startup Professionals Musings

Despite their own focus on changing the world, they often forget that they too have to change rapidly and often as the market evolves. Relevant skills include continuous improvement of existing methods, processes and devices against a set of quality metrics.

8 Strategies To Optimize Your Business Pace Of Change

Startup Professionals Musings

Stroh, which details the principles and metrics to follow for fostering innovation in any organization. Sometimes the hardest thing for companies to do is to retire a cash cow product, before its declining market is reinvigorated by a competitor.

How I Invest

Both Sides of the Table

I spend hours thinking about the products, competitors, market opportunities, recruiting and financing of these businesses. 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.

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7 Ways to Fail When Applying to an Accelerator

Tech.Co

For instance, we ask what makes your solution special and, in another question, ask you to specifically drill down into your competition and how you are better. You don’t need to list your competition in both places. We want hard data and metrics – we want proof.

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Startup CTO or Developer

SoCal CTO

Most often at the earliest point in the life of a startup, the dominant need is certainly to produce product to get something in the market, get funding, etc. Given likely market changes, how will we design and build so that the systems can respond to marketplace changes?

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