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I spent nearly a decade building software for large companies and then advising companies on the same. Most of them are completely mundane such as choosing which: bank, office space, 1-year lease vs. 2-year lease, logo, URL, pricing structure or which VC. The technology team disagrees on direction and wants resolutions.

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SEPTEMBER 28, 2014

Gross margin (GM) is the amount of profit you make per sale of your product or service taking into account your total costs of selling that product or service. If you have a very low gross margin (10-30%) it can be very hard to build a large, scalable business because you need to make a lot of sales to cover your operating costs.

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Based on my experience advising new entrepreneurs as well as more mature businesses, I recommend the following strategies for building business momentum, while still optimizing the limited resources of every small business: Find more customers that like what you do best. Focus first on finding more of the right customers.

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FEBRUARY 25, 2010

We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. My co-founder and other management team members wanted us to hold off and see whether we could get the deal done at a higher price. VC, sales, biz dev, M&A or otherwise. Yes, this was stupid.

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