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A post by Fred Wilson pointed me to Dave McClure's Startup Metrics presentation. Define what you need from a metrics and reporting standpoint. Startup Metrics for Pirates (SeedCamp, Sept 2009) View more documents from Dave McClure. You only build what you need to prove that model.
Utilizing AI, the tool interprets the queries, scans through a broad range of documents spread across different repositories, and delivers relevant answers. Utilizing AI, the tool interprets the queries, scans through a broad range of documents spread across different repositories, and delivers relevant answers.
I'm going to be looking at aspects like: Things to consider before building your MVP Features often overlooked when documenting an MVP for developers Understanding important metrics you want to measure Risks and challenges in developing an MVP. Have you Documented Your MVP for Your Developer s?
Once you build it, they will now ask you about the key metrics that they need proven in order to see if you really are a good investment. The real reason to build an MVP is to do early tests of key Startup Metrics for the business. " Once you have the metrics defined, it focuses your effort. To prove/disprove a hypothesis.
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 happens to careful planning, sure-fire metrics, quality test scenarios, market research, a good business plan – all in place before pulling the trigger of a new opportunity. Without even pausing to document the process internally, no-one can easily take over the job, if for any reason the cowboy coder is no longer in control.
Then, I Review existing materials Business Plan Marketing Plan Marketing Materials Product Plan / Roadmap Current and Projected Financials Business Pipeline Team Member Bios / Resumes Current Metrics Roadmap Normally there are crude documents for each of these areas that can be quickly read / scanned.
Irvine-based Kofax , which develops document capture software, announced this morning that it has launched a new product for monitoring its software. According to the firm, its new Kofax Monitor software provides real-time, enterprise monitoring and metrics. Tags: kofax document capture monitoring.
Eric is also author of the book The PayPal Wars: Battles With Ebay, the Media, the Mafia, And the Rest of Planet Earth , where he documented that experience. For investors, it gives them a dash board of key metrics, and ensures those investors stay in the loop. Eric, what's the story behind CapLinked?
What happens to careful planning, sure-fire metrics, quality test scenarios, market research, a good business plan – all in place before pulling the trigger of a new opportunity. Either way, without even pausing to document the process internally, no-one can easily take over the job, if for any reason the cowboy coder is no longer in control.
Generally speaking in venture capital financings the legal documents will specify that only “major investors” (a threshold set in the agreement – which can be $500,000 investor or more). There is a reason for this.
Define hard (data) and soft (anecdotal) metrics on the change, as well as on the quality of your leadership. That means you have to start with assessing the current state against the same metrics, before you can assess progress or change. Make sure metric results are available to the team, to keep them motivated.
When an employee is subsequently dismissed for any reason, the documentation of past performance and reviews, including any past notification of weaknesses or warnings, becomes an important shield to protect the company against a subsequent lawsuit or challenge from a state employee review process.
Here’s Why You Should Just Send the Deck I know you have your document sending tool to send your fund-raising deck to VCs and track who read your deck, which pages they read and how much time they spend on each page. I Know Everybody Told You to Send Your Fund-Raising Decks as a Link.
Other Topics Covered I also covered topics that are covered more thoroughly in the following posts: Document Your MVP for a Developer. Read Document Your MVP for a Developer for all of the detail that you really need to provide. Provide the metrics you are trying to achieve. I just want the cost, timeline and impact.
The leaked information in question appears to be some internal metrics on “The Closer” that appeared in a story by Bloomberg , which reported that Netflix spent $24.1 “We understand this employee may have been motivated by disappointment and hurt with Netflix, but maintaining a culture of trust and transparency is core to our company.”.
Obviously, the business of business has been around a long time, with many “best practices” well-defined and well documented, so creativity that ignores these is usually not a good thing. Using data metrics alone for decisions, without seeking the root problem and alternative solutions, kills creativity. Failure to learn.
Sales would create metrics to track each salesperson’s progress and success. Dave Berkus Photos created with MS Designer-AI (DALL-e) for this blog using prompt: “A realistic image of a young group of managers informally dressed around a table examining a document labeled “performance, planning and profitability.
Explosive growth to an enterprise normally requires a scalable sales model, a well-documented process with incentives, training, and metrics for tracking and management. Formal documentation of strategy and progress will be expected by investors. Switch your focus from product development to sales.
Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.
What metrics will you use to fairly evaluate each direct report? I’d have a difficult time thinking that any company, large or small, could perform at its peak without great employee metrics including individual key performance indicators, capped by consistent reviews and feedback. In terms of value…well let’s examine that.
Define hard (data) and soft (anecdotal) metrics on the change, as well as on the quality of your leadership. That means you have to start with assessing the current state against the same metrics, before you can assess progress or change. Make sure metric results are available to the team, to keep them motivated.
Data – Define a handful of key metrics to free you from managing personalities, egos, subjective issues, emotions, and intangibles. Each must be documented clearly and refined regularly. Issues – Constantly provide updates and direction on the challenges and obstacles that must be overcome to execute on your vision.
Sets goals and milestones, with metrics to track progress. Good implementers document and communicate long-term goals, and translate them into daily action items. They define metrics for each goal, and diligently track themselves against these metrics. Tie executive titles and organizations to business roles.
Clarify operation responsibilities and metrics used to measure performance. It is highly recommended that legal document are created and/or reviewed by a business transaction attorney. Define each partner’s title and position. Define management responsibilities and job descriptions. Detail authority limits for each partner.
The auto industry and others have used this model for generations, so business processes and metrics for innovation are well documented. Imitation with continuous innovation predictably drives progress. Disruptive technologies are random and their success is unpredictable. There is always a related market or new country.
Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.
Finally you create and document your recipe (business plan). 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. validate your business model) Continuous improvement. Don’t stand still.
Define hard (data) and soft (anecdotal) metrics on the change, as well as on the quality of your leadership. That means you have to start with assessing the current state against the same metrics, before you can assess progress or change. Make sure metric results are available to the team, to keep them motivated.
Obviously, the business of business has been around a long time, with many “best practices” well-defined and well documented, so creativity that ignores these is usually not a good thing. Using data metrics alone for decisions, without seeking the root problem and alternative solutions, kills creativity. Failure to learn.
The days of lengthy, text-heavy, business plan documents prepared by expensive experts are behind us. You don’t have to be a heavily funded later stage startup to get access to “big data,” customer analytics, and metrics dashboards. Angel groups, accelerators, and incubators are pervasive. Set milestones and manage to those targets.
It’s important to define your growth strategy, document it, communicate it to your team, and align metrics and employee rewards to target goals. Your focus for momentum could be sales, profitability, or number of customers, but trying to keep all possible parameters growing is simply not practical.
Like it or not, you are now entering the dreaded realm of specifying and documenting “formal business processes.” Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. The right question is “What is the minimum that I need?” Product development process. Funding process.
Obviously, the business of business has been around a long time, with many “best practices” well-defined and well documented, so creativity that ignores these is usually not a good thing. Using data metrics alone for decisions, without seeking the root problem and alternative solutions, kills creativity. Failure to learn.
For multiple party contracts, always document. For internal measurements, the metrics should always be written and clear. Don’t assume that no visible negatives means your trust is not questioned. A paper trail is very important to assure trust in formal business dealings, partner arrangements, and all customer transactions.
I have long believed that each of you is responsible for documenting and communicating your own value, without bragging or hyperbole. Documenting your input early, and follow-up later by quantifying customer revenue is your only way to make sure your value in the revenue growth process is not forgotten.
Obviously, the business of business has been around a long time, with many “best practices” well-defined and well documented, so creativity that ignores these is usually not a good thing. Using data metrics alone for decisions, without seeking the root problem and alternative solutions, kills creativity. Failure to learn.
Build a marketing plan with deliverables and metrics. If I don’t see a documented marketing plan, with measurements driven by industry norms, I assume that you are counting primarily on your passion to assess growth. Passion is necessary, but not sufficient for survival.
Entrepreneurs need to document a process of responding to a market need, sizing opportunity, assigning a specific business model, and planning for marketing, sales, and customer satisfaction. Typically some production and delivery is outsourced, requiring formal contracts and documentation. Solution development and delivery.
After-the-fact communication and documentation are also important, with a clearly defined resolution, follow-on action plan, and metrics to assess progress. The longer a conflict is active, the more likely that positions will harden, and emotions will make resolution more painful than productive.
Proactively sets metrics and track goals. Effective business people work hard to align everyone in the organization toward key metrics. The chances of your first business plan being correct are very low, so great entrepreneurs take ownership of their plan and make it a living document. Tie rewards to performance results.
Like it or not, you are now entering the dreaded realm of specifying and documenting “formal business processes.” Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. The right question is “What is the minimum that I need?” Product development process. Funding process.
Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. Unless you are bootstrapping everything, you need to have a clear plan on what networking and documents are required to get to friends and family, angel investors, and institutional investors. Funding process.
With the real data from that surge, you need to take a hard look at business model realities, cost of customer acquisition, inventory costs, and other key metrics. Document processes and metrics for economies of scale. Key metrics for scaling, such as customer loyalty, are very important after initial rollout.
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