Startup Professionals Musings

JUNE 23, 2021

For example, I commonly see metrics to keep track of revenue per employee, overtime, and absenteeism, but I don’t often see measures of overall customer satisfaction with individual employees. Yet, as a business consultant, I often find minimal focus on improving employee engagement and assessing their customer-facing performance.

Customer 369

Customer Technical Review Metrics Employee 369

Startup Professionals Musings

JANUARY 5, 2019

Generate revenue around the clock. Hiring virtual assistants for each specific project can be a lot more efficient and cheaper than hiring and managing employees. Focus on recurring revenues. With a stable base of subscribers, this can mean a continuing revenue stream from newsletters, support, or advice on demand.

Technical Review 243

Technical Review Software Review Internet Revenue 243

Startup Professionals Musings

FEBRUARY 18, 2023

If the company has been around for more than a couple of years, and still has no product or revenue flow, there better be a good explanation. Every startup should have at least a couple of outside advisors who are not major investors or family members, anxious to talk to new investors and key new hires.

Burn Rate 207

Burn Rate Sweat Equity Technical Review Intellectual Property 207

Startup Professionals Musings

JUNE 2, 2021

Short-term earnings per share may be low, even as revenues and cash burned are high. Select new hires with attention to values. Find funders who seek long-term returns. Money-making is different in the digital age. These tolerate negative cash flows for growth. Jeff Bezos at Amazon credits much of his success to this approach.

Software Review 355

Software Review Algorithm Global IPO 355

Startup Professionals Musings

OCTOBER 26, 2022

Every organization must constantly review its hiring practices, training, and leadership to make sure the focus is on people who are motivated, open-minded, and empowered. Here are some key strategies to maximize the agility required for you to survive and prosper: Stamp out organizational inflexibility. The real problem is inflexible people.

Agile 379

Agile Technical Review Leadership Social Media 379

Startup Professionals Musings

OCTOBER 30, 2020

You need a stable customer base with an automatically renewing revenue stream, such as the subscription model. Minimize permanent hiring and customized operational facilities. Minimize permanent hiring and customized operational facilities. Facilitate rapid growth through contracted resources.

Merger 386

Merger Acquisition Software Review Social Media 386

Startup Professionals Musings

DECEMBER 5, 2021

Here are three key cost elements of just the viral marketing campaigns: Hire brand evangelists. Some startups not only ignore this and don’t budget for it, but they actually plan on the free viral marketing to generate enough revenue from click-through advertising to fund operations and future growth. That’s a double death wish.

Viral 348

Viral Marketing SEM Campaign 348

Startup Professionals Musings

FEBRUARY 8, 2020

Even non-profits need revenue to cover their costs, and continue to provide services. Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Opportunity and revenue projections based on deep market and customer analysis are a smarter risk. Find a strategic partner to accelerate growth.

Management 322

Management Entrepreneur Forecast Stock Options 322

Startup Professionals Musings

JANUARY 18, 2020

Often the Boomer is more willing to work for equity, and easily convinced to step aside when revenues reach that next threshold. Every young entrepreneur needs an experienced partner for credibility with investors, and as a trusted cohort for strategy and growth discussions. Member of the Advisory Board. Personnel Manager.

Advisory Board 312

Advisory Board Startup Dividend Angel Investor 312

Startup Professionals Musings

SEPTEMBER 29, 2018

Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Think of these alternatives as paying interest on a loan, and manage them wisely. Be a miser with contract services and facilities.

Burn Rate 223

Burn Rate Hockey Stick Startup Salary 223

Startup Professionals Musings

AUGUST 28, 2019

New entrepreneurs tend to focus only on getting the product right, and assume that the right culture and ethics will come later simply by hiring good people. Hire only ethical people, so further time on business ethics is not needed. The reality is different. This is usually an excuse for not developing ethical policies and practices.

Software Review 192

Software Review Offshore Leadership .Net 192

Startup Professionals Musings

JULY 7, 2013

Generate revenue around the clock. Hiring virtual assistants for each specific project can be a lot more efficient and cheaper than hiring and managing employees. Focus on recurring revenues. With a stable base of subscribers, this can mean a continuing revenue stream from newsletters, support, or advice on demand.

Internet 263

Internet Entrepreneur Technical Review Software Review 263

Startup Professionals Musings

FEBRUARY 1, 2020

Every organization must constantly review its hiring practices, training, and leadership to make sure the focus is on people who are motivated, open-minded, and empowered. Here are some key strategies to maximize the agility required for you to survive and prosper: Stamp out organizational inflexibility. The real problem is inflexible people.

Agile 315

Agile Technical Review Leadership Social Media 315

Startup Professionals Musings

OCTOBER 5, 2014

Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Think of these alternatives as paying interest on a loan, and manage them wisely. Be a miser with contract services and facilities.

Burn Rate 262

Burn Rate Hockey Stick Entrepreneur Salary 262

Startup Professionals Musings

DECEMBER 11, 2016

Generate revenue around the clock. Hiring virtual assistants for each specific project can be a lot more efficient and cheaper than hiring and managing employees. Focus on recurring revenues. With a stable base of subscribers, this can mean a continuing revenue stream from newsletters, support, or advice on demand.

Technical Review 120

Technical Review Software Review Internet Revenue 120

Startup Professionals Musings

JUNE 8, 2012

Generate revenue around the clock. Hiring virtual assistants for each specific project can be a lot more efficient and cheaper than hiring and managing employees. Focus on recurring revenues. With a stable base of subscribers, this can mean a continuing revenue stream from newsletters, support, or advice on demand.

Internet 249

Internet Technical Review Software Review Revenue 249

Startup Professionals Musings

JULY 17, 2019

Strong leaders continually work on a strategy of hiring, developing, and retaining the best and the brightest. Turn value creation (revenue) into value capture (profit). Focus on user counts, or revenue alone, won’t make a long-term business. But it does take effort to weave these into a strategy.

Technical Review 218

Technical Review Analytics Revenue Metrics 218

Startup Professionals Musings

FEBRUARY 24, 2019

Here are three key cost elements of just the viral marketing campaigns: Hire brand evangelists. Some startups not only ignore this and don’t budget for it, but they actually plan on the free viral marketing to generate enough revenue from click-through advertising to fund operations and future growth. That’s a double death wish.

Viral 268

Viral Marketing SEM Campaign 268

Startup Professionals Musings

OCTOBER 21, 2023

How do you convince investors that your business model will really work, before you have a revenue stream that exceeds your expenses? Of course, that has be a repeatable event, with enough revenue to sustain the business. Plan for a real revenue model. No matter how good your cause, it takes real money to sustain a business.

Business Model 273

Business Model Customer Angel Investor Bootstrapping 273

Startup Professionals Musings

SEPTEMBER 9, 2017

New entrepreneurs tend to focus only on getting the product right, and assume that the right culture and ethics will come later simply by hiring good people. Hire only ethical people, so further time on business ethics is not needed. times the return of other companies over the last 10 years. The reality is different.

Software Review 166

Software Review Offshore Leadership .Net 166

Startup Professionals Musings

FEBRUARY 21, 2012

Pay people with equity or future revenue. Another one to avoid cash burn for software development is a contract for percent of future revenue. This will equate to 2 working founders (taking no salary), hiring a 5-person development team for a year. Focus precious cash only on producing revenue for your startup business.

Burn Rate 232

Burn Rate Startup Salary Equity 232

Startup Professionals Musings

FEBRUARY 15, 2023

Most new teams are geographically dispersed these days anyway, so paying rent for an office should be differed to later stages when revenue is plentiful. With the unlimited access to “how-to” videos and detailed instructions on the Internet, you shouldn’t need to hire experts for most things.

Equity 349

Equity Hockey Stick Bootstrapping Sweat Equity 349

Startup Professionals Musings

SEPTEMBER 25, 2023

Hire an attorney to make sure the terms are fair. Tie re-payments to revenue growth in the startup. Rather than set a fixed repayment schedule, tie investment payoffs to a percentage of new product revenue, or a plan to convert the debt to equity. This shows respect and professionalism.

Sweat Equity 274

Sweat Equity Elevator Pitch Startup Equity 274

Startup Professionals Musings

APRIL 17, 2023

For example, if you have a proven product, real revenue, a big potential market, and are ready to scale up the business, every investor will be interested. On the other hand, if you are a new entrepreneur, still in the idea stage, professional investors will only tell you to come back later when you have traction (customers and revenue).

Angel Investor 313

Angel Investor Intellectual Property Investment Bankers Private Equity 313

Startup Professionals Musings

OCTOBER 28, 2013

New entrepreneurs tend to focus only on getting the product right, and assume that the right culture and ethics will come later simply by hiring good people. Hire only ethical people, so further time on business ethics is not needed. times the return of other companies over the last 10 years. The reality is different.

Software Review 250

Software Review Offshore Leadership .Net 250

Startup Professionals Musings

JANUARY 28, 2011

Pay people with equity or future revenue. Another one to avoid cash burn for software development is a contract for percent of future revenue. This will equate to 2 working founders (taking no salary), hiring a 5-person development team for a year. Focus precious cash only on producing revenue for your startup business.

Burn Rate 231

Burn Rate Startup Salary Equity 231

Startup Professionals Musings

MARCH 4, 2016

Forecast revenue growth that defies business principles. Every business takes time to scale and penetrate a market due to organizational growth, hiring, training, brand building and customer adoption. Hire helpers in lieu of people who are smarter than you. Hire people who can train you rather than ones you need to train.

Intellectual Property 120

Intellectual Property Startup Forecast Angel Investor 120

Startup Professionals Musings

SEPTEMBER 14, 2016

Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Think of these alternatives as paying interest on a loan, and manage them wisely. Be a miser with contract services and facilities.

Burn Rate 120

Burn Rate Hockey Stick Startup Salary 120

Startup Professionals Musings

AUGUST 27, 2014

Even non-profits need revenue to cover their costs, and continue to provide services. Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Opportunity and revenue projections based on deep market and customer analysis are a smarter risk. Find a strategic partner to accelerate growth.

Startup 283

Startup Forecast Stock Options Technical Review 283

Startup Professionals Musings

FEBRUARY 17, 2018

Even non-profits need revenue to cover their costs, and continue to provide services. Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Opportunity and revenue projections based on deep market and customer analysis are a smarter risk. Find a strategic partner to accelerate growth.

Forecast 161

Forecast Stock Options Technical Review Metrics 161

Startup Professionals Musings

JANUARY 22, 2021

How do you convince investors that your business model will really work, before you have a revenue stream that exceeds your expenses? Of course, that has be a repeatable event, with enough revenue to sustain the business. Plan for a real revenue model. No matter how good your cause, it takes real money to sustain a business.

Business Model 414

Business Model Angel Investor Bootstrapping Revenue 414

Startup Professionals Musings

NOVEMBER 1, 2014

Often the Boomer is more willing to work for equity, and easily convinced to step aside when revenues reach that next threshold. Every young entrepreneur needs an experienced partner for credibility with investors, and as a trusted cohort for strategy and growth discussions. Member of the Advisory Board. Personnel Manager.

Entrepreneur 266

Entrepreneur Advisory Board Dividend Angel Investor 266

Startup Professionals Musings

SEPTEMBER 4, 2022

That means coming up with revenue and expense assumptions that balance your natural optimism and determine how much cash the business will really need. Then take your revenue projections and cut them in half. Hire a bookkeeper or setup a QuickBooks chart of accounts on your first day in business. Moderate your optimism.

Early Stage 307

Early Stage Bootstrapping Revenue Framework 307

Startup Professionals Musings

MAY 16, 2016

They don’t realize that strong team engagement leads to even stronger customer engagement, which can more than double your startup revenue and growth, according to experts. Highly satisfied customers become your best advocates, bringing in new customers, repeat business, and ramping up revenue and profits.

Leadership 144

Leadership Software Review Social Media Employee 144

Startup Professionals Musings

MAY 18, 2020

Most new teams are geographically dispersed these days anyway, so paying rent for an office should be differed to later stages when revenue is plentiful. With the unlimited access to “how-to” videos and detailed instructions on the Internet, you shouldn’t need to hire experts for most things.

Hockey Stick 423

Hockey Stick Bootstrapping Sweat Equity Intellectual Property 423

Startup Professionals Musings

JULY 5, 2023

The alternative is to work with an innovation institute to evaluate your technology, or hire a consultant. This normally means more than 30 employees, and more than $1 million in revenue. If you need help at this stage, look for a local university teaching online courses on entrepreneurship , or how to build a business plan.

Startup 305

Startup Incubator Exit Strategy Institutional Investors 305

Startup Professionals Musings

JULY 22, 2020

For example, if you have a proven product, real revenue, a big potential market, and are ready to scale up the business, every investor will be interested. On the other hand, if you are a new entrepreneur, still in the idea stage, professional investors will only tell you to come back later when you have traction (customers and revenue).

Angel Investor 370

Angel Investor Intellectual Property Investment Bankers Private Equity 370