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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. As the end of the year approaches, it’s a good time for every startup to assess the metrics, technology, and platforms they’re using to manage the business. Cost of customer acquisition.

Metrics 100
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Why Misunderstanding Startup Metrics Can Cost You Your Business

Both Sides of the Table

There has been a lot of public debate over the past several weeks about whether it’s a good thing to be “gross margin positive” or not and commentary always reminds me that some people at startups don’t quite understand financial metrics or even how to think about which ones are healthy. LTV is imprecise. The first input is CAC.

Metrics 150
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10 Strategies To Avoid Bad Risks In Your New Venture

Startup Professionals Musings

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Implement a modern real business model.

Resource 121
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How to make the most useful dashboard

Berkonomics

And with the rise of modern technology-driven businesses, the same is true of management in the business world. You should consider creating such a dashboard or reviewing the one you use if already driving with one at hand. Find metrics that will be “leading indicators” of trouble to come. Managers need real time information.

Metrics 156
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10 Ways Owners Often Jeopardize Their Business Growth

Startup Professionals Musings

When you are starting a new business, every resource is precious, including time, funding, and people. Unit costs are important, but don’t forget about the cash flow hit, extra storage costs, and the probability of obsolete inventory due to necessary updates or pivots. Most challenges you have are not unique to your business.

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6 Ways To Improve Your Odds Of New Business Success

Startup Professionals Musings

If you are the hot-shot technical innovator that invented your solution, make sure you have an equally adept business and marketing expert to complement your skills. “If Bill Gates was the technical genius, but Steve Ballmer, from Procter & Gamble, ran the business side of the equation.

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10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Implement a modern real business model.