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.

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. I was recently talking with a startup company who wanted me to try their product.

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.

Customer-Centric Strategies Win Over Product-Centric

Startup Professionals Musings

Is your marketing focus product-centric or customer-centric ? If you only sell products, it’s time to realize that times have changed. With a wealth of products now available, customers look for the most memorable experience , not just the best product.

6 Keys to Marketing Customer Experience vs Products

Startup Professionals Musings

Not so long ago, every business assumed that the keys to success were the highest quality product, the best value for the buck, and the best customer service. Exploit your product and service differences. One metric now commonly used is called the Net Promoter® Score (NPS).

8 Ways An Investor Pitch Differs From A Product Pitch

Startup Professionals Musings

Remember, investors are buying into the business, not the product. Investors are business experts, while the entrepreneur is more likely the product expert. Competitor positioning and sustainable competitive advantage.

7 Steps to Productive Business Use of Social Media

Startup Professionals Musings

Most startups, and many big businesses, still don’t have a clue on how to use social media productively for marketing their business. Create an action plan with metrics.

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.

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Combine Creative Products with a New Business Model

Startup Professionals Musings

Within the startup realm, there is a big difference between having an innovative product versus an innovative business. Others take an existing product, and give it new life with a creative business model. The most competitive startups do both, all the time and every time.

A year in review: productboard’s top 10 posts from 2017

socalTECH

At productboard we aim to bake best practices of product management straight into the interface, so you can improve the way you manage your products right out of the box. In the meantime, we’ll continue publishing thoughts and ideas we’ve learned from great product managers here.

8 Deadly Wastes That Every Entrepreneur Must Avoid

Startup Professionals Musings

Waste in a startup is any activity that absorbs resources, but creates no value or competitive advantage in the eyes of customers. Trying to do too many things with too few resources, usually means the startup will not shine at anything, and will not survive the competition.

Turn “process” into “game.”

Berkonomics

Most of us are driven by the competitive spirit, the desire or need to win. It provides a short competitive experience with a measurable outcome in which the players know who won and by how much. Create and publish metrics as goals and comparisons to past accomplishments.

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.

Timing and why we’re all VCs

TechCrunch LA

Capitalism is fundamentally about timing, since market competition is about finding opportunities before others. Anyone who has worked in a large company further knows that timing a product launch or a new marketing strategy has more to do with internal politics than reading market forces.

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

Both Sides of the Table

If you buy into the argument that a strong board can actually help you then this post will lay out how to help you have more productive meetings by preparing properly in advance. Often board members themselves don’t do the work to say “what metrics would we like to see.”

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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. Create an action plan with metrics.

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.

7 Strategies To Accelerate Creativity In Your Company

Startup Professionals Musings

Within the startup realm, there is a big difference between having an innovative product versus an innovative business. Others take an existing product, and give it new life with a creative business model. The most competitive startups do both, all the time and every time.

10 Keys To Delivering Innovation As An Entrepreneur

Startup Professionals Musings

New product process. It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Product life cycles keep getting shorter and shorter, which mandates accelerated innovation cycles.

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

Both Sides of the Table

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. How profitable is my product or service?

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Use Key Strategic Elements To Avoid Business Plateaus

Startup Professionals Musings

You are so engaged in building and selling your product or service, that you “don’t have time” to focus on strategy and the next round of changes for the business to survive and grow. Highlight your competitive value, not your technology.

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. I have always worked on early stage products.

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. This is not true in the majority of cases but rather when you have competition in your round and feel confident in using your leverage. If your metric move immediate up-and-to-the-right?

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.” And if you’re lucky and hit product/market fit straight out of the gate – awesome. VC funding.

6 Keys To Making Timely Changes To Save Your Business

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. This contextual focus is critical to innovation and survival – the right product at the right time.

10 Principles For Sustainable Innovation In Business

Startup Professionals Musings

New product process. It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Product life cycles keep getting shorter and shorter, which mandates accelerated innovation cycles.

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

Both Sides of the Table

You need to first create a compelling product. 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. It is about product.

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

Both Sides of the Table

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.” ” Case studies get done with ebullient CEO’s espousing the benefits of said software even though their organization was barely using the product. How frequently they’re using the product?

7 Keys To Balancing Profits Versus A Higher Purpose

Startup Professionals Musings

How does any entrepreneur define the right balance, and then measure their performance against real metrics? The real opportunity for entrepreneurs is to provide solutions that solve a problem better than the competition, while also providing sustainability and social responsibility.

How Great Entrepreneurs Spell Continuous Innovation

Startup Professionals Musings

New product process. It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics.

5 Steps To Strategy Tuning Through Machine Learning

Startup Professionals Musings

For example, most e-commerce platforms today offer millions of products, with a changing mix daily and a changing market, such that it’s virtually impossible to manually predict a strategy for mapping customer demographics to products displayed online.

The Loneliness of Success that Nobody Talks About

Both Sides of the Table

As an industry we need to pay attention to those who are struggling as they build their startups and make sure we pay as much attention to the mental stresses of the job as we do to the business challenges like shipping product, hiring staff and raising money.

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Scaling Sales: Arming & Aiming – Objection Handling

Both Sides of the Table

Some objections are real and they end up becoming changes to your product, your service plan or your pricing / bundling. But they want to establish a baseline in the customer’s mind of the value they will get by using your product. We’re a premium product.

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7 Keys To Making People First And Winning In Business

Startup Professionals Musings

Once this product-first, customer-second, and employee-last culture is set, it is extremely hard to change. Establish metrics on the culture, as well as the product. These metrics need the same top management attention as customer retention and sales metrics.

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.

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