Up and Running

OCTOBER 7, 2019

You need to use your time and resources productively by focusing on the right metrics so you can use data to help you implement improvements that matter. The first step is to formulate a KPI strategy by selecting the right metrics to track. The metrics should help you identify areas for improvement.

Founder 71

Founder Retention Metrics Technical Review 71

Up and Running

SEPTEMBER 17, 2014

That’s why we asked nine members from Young Entrepreneur Council (YEC) what metrics all founders should be aware of — always. Lifetime Customer Value. How much do you earn per customer? If you’re selling anything, understanding renewal rates is absolutely critical. No Specific Metric.

Metrics 146

Metrics Burn Rate Entrepreneur Forecast 146

VC Adventure

MARCH 17, 2022

With the markets down significantly, financings (at least at the later stages) slowing down, and inflation and interest rates on the rise, perhaps now is a good time to talk about your burn rate. Your underlying business metrics should. Hopefully, the markets will bounce back some. But don’t bet your business on it.

Balance Sheet 121

Balance Sheet Burn Rate Valuation Metrics 121

Feld Thoughts

NOVEMBER 18, 2013

Early customer development talks are going great which keeps the team really excited. Three months in, the burn is now at $70k/month. No updates, screen comps, or metrics have been publicly shared yet. Soundbites from potential customers are encouraging. Investors are dismayed that there are no real customers yet.

Burn Rate 152

Burn Rate Equity Software Review Early Stage 152

Both Sides of the Table

MAY 2, 2015

I love the enthusiasm, the boundless energy and the sense of possibility that comes from having an idea that hasn’t yet been beat up in the marketplace of competing ideas, customer contracts, VC skepticism, jaded journalists or fickle consumers who are on the The New, New Thing. The full financial details and metrics were in the deck.

Operations 150

Operations Metrics Early Stage Non-Compete 150

Startup Professionals Musings

JULY 4, 2021

Waste in a startup is any activity that burns resources, but creates no value or competitive advantage in the eyes of customers. Productive processes start with a plan, and end with metrics that measure value delivered. Then always measure customer results, not work. Poor or too many business processes.

Startup 404

Startup Lean Metrics Matching 404

Steve Blank

FEBRUARY 22, 2010

As a founder you are testing a series of hypotheses about all the pieces of the business model: Who are the customers/users? An early indication that you’ve found the right business model is when you believe the cost of getting customers will be less than the revenues the customers will generate. Startup Metrics.

Balance Sheet 300

Balance Sheet Startup Burn Rate Metrics 300

Up and Running

AUGUST 21, 2014

In this webinar, we take time to discuss the different metrics that startups—and established businesses—should be tracking. In terms of pre-purchase, traffic and content metrics. Every single page you have on your website needs to have a purpose and needs to have a functionality for that customer or that visitor.

Metrics 84

Metrics Startup Churn Rate Forecast 84

Steve Blank

JUNE 1, 2011

As customer and agile development reinvent the Startup, it’s time to ask why startup board governance has not kept up with the pace of innovation. 3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. The Wrong Metrics. What do those numbers/metrics look like?

Silicon Valley 292

Silicon Valley Business Model Venture Capital Balance Sheet 292

Startup Professionals Musings

AUGUST 14, 2015

Maybe more important, you need domain knowledge, relationships and lots of potential customers. Every startup needs a simple elevator pitch, quantifying the value of its journey, that can be communicated in less than a minute to new team members, potential investors and customers. Define metrics to keep on track for the journey.

Elevator Pitch 120

Elevator Pitch Burn Rate Startup Metrics 120

Steve Blank

JUNE 1, 2011

As customer and agile development reinvent the Startup, it’s time to ask why startup board governance has not kept up with the pace of innovation. 3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. The Wrong Metrics. What do those numbers/metrics look like?

Silicon Valley 263

Silicon Valley Business Model Venture Capital Balance Sheet 263

Startup Professionals Musings

AUGUST 7, 2015

When pitching to investors, entrepreneurs always seem to start with a customer pitch, then add a slide or two about the business. In every case, the relevant pitch needs to start by highlighting a real customer problem, then outlining a new solution, with all the features and disruptive technology.

Product 120

Product Intellectual Property Liquidity Event Burn Rate 120

Feld Thoughts

SEPTEMBER 9, 2015

Some will demonstrate strategically justifiable metrics and have fantastic ‘up round’ exits; others may see liquidation preferences kick in which will negatively impact founders and employees; others may fulfill the adage “IPO is the new down round” , which has been the case for more than half of the public companies on our list.

Liquidation Preference 70

Liquidation Preference Burn Rate Balance Sheet .Net 70

The Equity Kicker

JANUARY 10, 2020

It’s got a big burn rate, it’s too big to pivot, and it goes bust. We’re obsessively focused on customers and use cases. The customer experience has got to be better. And what are the metrics for customer love? And everyone’s lost a lot of money. And those that do pivot to a new model don’t always make it.

Partner 68

Partner Early Stage Portfolio Metrics 68

Mucker Lab

MARCH 8, 2016

Every week, we speak with entrepreneurs who feel like they have solid metrics and growth, but they see other founders effortlessly raise millions of dollars with nothing more than an impressive PowerPoint deck. The ones who spend more time with their customers than on Twitter. We understand. The underdogs. The dogged visionaries.

Burn Rate 60

Burn Rate Limited Partner Bootstrapping Portfolio 60

BeyondVC

DECEMBER 10, 2009

Given my experience with SAAS based companies like GoToMyPC (Citrix Online now) and LivePerson (Nasdaq: LPSN), we also spent some time discussing key financial metrics for SAAS businesses that he should pay attention to as he ramped up his business.

Churn Rate 112

Churn Rate Burn Rate Startup Metrics 112

ReadWriteStart

JUNE 13, 2011

As customer and agile development reinvent the startup, it's time to ask why startup board governance has not kept up with the pace of innovation. The process, which Blank detailed in his book, "The Four Steps to the Epiphany," uses customer feedback to refine and improve a product before scaling a business.

Silicon Valley 117

Silicon Valley Balance Sheet Metrics Early Stage 117

The Equity Kicker

JULY 16, 2015

Companies with lots of cash sometimes add people more quickly, but that drives the burn rate up, often without a compensating increase in the chance of success. Search for a point of deep emotional resonance with customers – research work. Search for a point of deep emotional resonance with customers – research work.

eCommerce 60

eCommerce Burn Rate Early Stage Hiring 60

Up and Running

OCTOBER 1, 2014

Statdragon is a Saas platform that allows businesses to access and analyze metrics about their existing videos and optimize their video marketing strategy. Nelson has some tips: Know your burn rate. Keep customers at the forefront, and listen to them. Their latest product, Statdragon, launched just last week.

Bootstrapping 107

Bootstrapping Cofounder Portland Burn Rate 107

K9 Ventures

MAY 28, 2015

For most startups going from no revenue to their first paying customer is a major milestone. Once you have one customer, you have to then try and find another person who thinks just like the previous one and is willing to become your second customer. Why did the customers buy your product? Are your customers happy?

Revenue 48

Revenue Startup Burn Rate Cofounder 48

Startup Lessons Learned

MARCH 27, 2009

The full formula works like this: runway = cash on hand / burn rate # iterations = runway / speed of each iteration Very few successful companies ended up in the same exact business that the founders thought theyd be in (see Founders at Work for dozens of examples). Were talking PayPal -sized variations.

San Francisco 117

San Francisco Lean Continuous Deployment DC 117

Startup Lessons Learned

MARCH 13, 2009

Marketing launch) Make a new product available to customers in the general public. In particular, a marketing launch can help you do three things (courtesy, as is most of my marketing advice, of The Four Steps to the Epiphany ): Drive customers into your sales pipeline. Do your customers really read TechCrunch?

San Francisco 168

San Francisco PR Lean Early Stage 168

Up and Running

MAY 22, 2018

What is this one thing that keeps your customers coming back to you (that your competitors don’t have)? When you tell investors about your target market, use a customer persona (if not a real, anecdotal) to illustrate the details. Say what your customer is experiencing to set the stage for how your solution can help.

Exit Strategy 90

Exit Strategy Angel Investor Search Elevator Pitch 90

Startup Lessons Learned

JANUARY 30, 2009

Here are a few: We know what customers want. By hiring experts, conducting lots of focus groups, and executing to a detailed plan, the company became deluded that it knew what customers wanted. But that was two full years before any customers were allowed to use it. Stealth is a customer-free zone.

San Francisco 150

San Francisco Lean Agile Continuous Deployment 150

YoungUpstarts

JANUARY 11, 2018

We know of a lifestyle startup that ordered 10,000 mattresses once they believed they had enough of a customer base. Three months later, customers started returning the mattresses, feeling that they became less desirable over time. Our approach with VEEV — going slow in the beginning — actually made acquiring customers easier.

Los Angeles 133

Los Angeles Investment Bankers Cofounder Viral 133