Both Sides of the Table
MAY 9, 2018
You race back to the office to tell everybody how well it went and you wait for the follow-up call to have a partners’ meeting or talk about term sheets or at least dip into due diligence. In our last meeting you asked me about our cohorts and why retention went down. What do I do now? Your job is to break the convention.
Mucker Lab
JUNE 23, 2014
There is no word more sacred and yet over-used than “term sheet” in the entrepreneurial circle. The pursuit of the mythical VC term sheet has blinded entrepreneurs from the real goal of building a business: revenue, customers, users, engagement and retention. It’s validation. Continue at Techcrunch.
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Mucker Lab
AUGUST 27, 2014
If you took a random sample of 100 entrepreneurs here in LA, over 50% might not be able to tell you how to technically calculate 90-day cohort retention or how to build a cash flow statement. Encyclopedic knowledge of term sheets and startup buzzwords can be quickly learned, trained, and packaged.
Steve Blank
APRIL 1, 2020
Some VC’s are walking away from signed term sheets. How can you shift focus to customer retention versus acquisition? The CEO should dial through as many of the largest existing customers to get a firsthand understanding of the magnitude of any revenue shortfall. Others are cutting their valuations.
Gust
DECEMBER 27, 2012
You should know every metric regarding customer acquisition, conversion and retention. This person will be critical in rounding up other investors, drafting a term sheet, and generally getting the deal done. You should know EVERYTHING about your business, product, customers and competition.
Up and Running
JANUARY 7, 2020
We ended up receiving a $5m term sheet from investors, dozens of government customers from all across the western United States, and several offers to acquire us for 10x the initial investment. It’s when you have paying customers and can show both customer growth and customer retention. . Getting there was a struggle.
The Next Web
AUGUST 26, 2012
The metrics that matter the most are returning customers (user retention), turnover per customer and viral growth (k-factor). Make sure you check and understand the term sheet and overall deal. The terms should allow you to drive in order to arrive at the first destination safely. Raising money takes time.
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