Up and Running

JULY 10, 2019

To give you a chance of staying somewhat afloat, start signing up members while you are setting up the business. This ensures you have some recurring revenue coming to cover overheads in the beginning. This is a great example of the brand running through every aspect of the business. .

Retention 70

Retention Social Media Software Review Acquisition 70

YoungUpstarts

OCTOBER 10, 2012

Consider the superb results companies are getting from this new way of thinking about customers: - Customer salespeople achieved, in effect, 80 percent close rates for Salesforce.com , which was key in growing their business in the face of much bigger, better-funded competitors. - You have to make it easy for them to do so.

Customer 154

Customer Fractional CTO Canada Technical Review 154

Hearpreneur

SEPTEMBER 22, 2021

It drives media attention and fosters customer retention rate, which is why most companies strive to have it in their mission statement. Tesla Tesla invented a successful business model for bringing compelling electric cars to the market. Innovative is a word often used to describe successful companies. 10- Mindbody.

Technical Review 122

Technical Review Entrepreneur Software Review SEO 122

ConversionXL

SEPTEMBER 15, 2020

Do what’s best for the customer—even if it doesn’t grow revenue. A few of the features Monzo built, however, go against revenue generation in favor of doing what’s best for customers. It’s not the only example of Monzo serving customers at the expense of potential revenue. Test novel ways of solving the same problem.

Customer 85

Customer Community Revenue Software Review 85

ReadWriteStart

MARCH 3, 2021

Growing a business is always challenging, but it’s often the hardest in the earliest stages of development. You’ll be operating with limited resources, limited knowledge, and quite possibly, a business model poised to change in the immediate future. The trick is to give your customers a reason to refer your brand to others.

Early Stage 125

Early Stage PPC Retention Churn Rate 125

Startup Lessons Learned

APRIL 14, 2009

Lessons Learned by Eric Ries Tuesday, April 14, 2009 Validated learning about customers Would you rather have $30,000 or $1 million in revenues for your startup? All things being equal, of course, you’d rather have more revenue rather than less. And yet revenue alone is not a sufficient goal. More on that in a moment.

Customer 167

Customer San Francisco Lean Hockey Stick 167

Tim Keane

MARCH 9, 2011

If, on the other hand, there is some near term prospect of cash flow (say within six months or a year) but no ability to repay in the meantime, then the entrepreneur may try and find a way to finance his “pre-revenue period” using friends and family money that accepts a somewhat lower payment in recognition of a relationship beyond just investing.

Finance 83

Finance Bootstrapping Startup Equity 83

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 17, 2011

I wanted to expand on the practical and mathematical implementations of the cancellation rate I referred to in last week’s post. “LTV” means “the total revenue you’ll get from a customer over its lifetime.” So total expected revenue is $RN/ p. Why cancellation rate is so important.

Business Model 245

Business Model Metrics Engineer Technical Review 245

Steve Blank

FEBRUARY 26, 2020

There are two reasons to raise money: You have a killer idea that is only partially validated, that you think can get to $50M+ of revenue in 5 years with 80%+ gross margins (if margins are lower, you need a lot more revenue)and you need money to get to product-market fit, or. Team, Product, Traction, Business Model and Market.

Cofounder 431

Cofounder Seed Stage Valuation Metrics 431

ConversionXL

APRIL 7, 2021

The concept remains the same today with modern ABM—we want to sell to a list of ‘dream customers’ more commonly referred to as target accounts. Sorry, but ABM is not B2B, nor is it right for all markets, business models, or companies (just like every company should not be running freemium aka PLG for acquisition.)

IP 98

IP Marketing Technical Review Software Review 98

ConversionXL

OCTOBER 30, 2019

They advocate for your company and/or product, actively referring new business to you. What about stages three through seven, which can generally be grouped under the “ retention ” umbrella? We know how important and valuable retention is. They experience value and regularly use your product. Reactivation.

Retention 101

Retention Metrics Churn Rate Acquisition 101

The Startup Magazine

FEBRUARY 24, 2019

Every business is always on the lookout for ways to increase performance and drive business growth. In most cases, entrepreneurs hope to grow revenue by substantial margins so as to achieve this. One of the most effective strategies to SaaS business growth is through incremental improvements. Putting Theory into Practice.

SQL 88

SQL Metrics Business Model Revenue 88

ConversionXL

AUGUST 12, 2016

A flowing sales funnel is crucial in any business, but even more so with SaaS businesses… Unlike other business models, revenue is generated over an extended period of time. Monthly Recurring Revenue (MRR). MRR is probably the most critical metric for any subscription business. Revenue Churn.

Software Review 48

Software Review Metrics Revenue Acquisition 48

ConversionXL

OCTOBER 30, 2019

They advocate for your company and/or product, actively referring new business to you. What about stages three through seven, which can generally be grouped under the “ retention ” umbrella? We know how important and valuable retention is. They experience value and regularly use your product. Reactivation.

Retention 48

Retention Metrics Churn Rate Acquisition 48

maplebutter.com

JANUARY 8, 2013

Product/Metrics (70%/30% time) * Get your product activation (sign-up + meaningful action) to 60% * then, Get your product retention to 20% weekly. I would focus on one product and set a goal to generate $1M in yearly revenue from it. I don’t have any formal business training and I actually think it’s served me well.

Technical Review 44

Technical Review Startup Cofounder Software Review 44

andrewchenblog.com

JANUARY 28, 2010

To become profitable using a freemium business model, this simple equation must hold true: Lifetime value > Cost per acquisition + Cost of service (paying & free) Said in plain english, the lifetime value of your paying customers needs to be greater than the cost it took to acquire them, plus, the cost servicing all users (free or paying).

CPA 51

CPA Retention Viral Acquisition 51

Mucker Lab

MAY 1, 2013

Instead of aiming for hundreds of millions of dollars in software licensing revenue – they want to conquer existing industries and aim for tens of billions of dollars in widget revenues. There is, in fact, an entire technology category that fits this thesis perfectly – etail or commonly referred to as e-commerce.

Software 107

Software Silicon Valley Los Angeles Columbus 107

Occam's Razor

NOVEMBER 15, 2010

Search, Referring Sites, Direct, Campaigns. If direct traffic is low, I worry if you are any good at customer service / retention (the latter is so often just an afterthought). 20% to 30% Referring Sites. Refer to your insights from Step 3 to set the threshold values. How's yours? Which one is strong?

Web 139

Web Analytics eCommerce Campaign 139

Duct Tape Marketing

JUNE 13, 2017

Marketing traditionally is very acquisition focused but growth hacking takes that and takes really all steps of the customer journey – increasing engagement, even revenue experiments but really running experiments across the customer journey to grow customers and ultimately revenue. No like to trust.

Channel 55

Channel Metrics Acquisition Non-Compete 55