Kinnernet 2006 – geek camp

BeyondVC

I just got back from a week in Israel having spent some time in Jerusalem for an Answers board meeting and then making my way to the Ohalo Resort on the Sea of Galilee for Kinnernet 2006. The post Kinnernet 2006 – geek camp appeared first on BeyondVC. Kinnernet is a techie geek camp organized and run by Yossi Vardi (cofounder of ICQ). At Kinnernet, I had the privilege to spend time with some great people from Israel, Europe, and the US.

July, 2006 in Review

Spencer Fry

The 10 / 90 Rule for Magnificent Web Analytics Success

Occam's Razor

Numerous studies have pointed out that while almost all Fortune 500 companies have great investments in "Web Analytics" they still struggle to make any meaningful business decisions. Most people complain that there are tera bytes of data and giga bytes of reports and mega bytes of Excel and PowerPoint files. Yet no actionable insights, no innate awareness of what is really going on through the clutter of site clickstream data.

Seven Steps to Creating a Data Driven Decision Making Culture.

Occam's Razor

The title of my presentation at the Washington DC Emetrics summit was: Creating a Data Driven Web Decision Making Culture – Lessons, Tips, Insights from a Practitioner. My hope was to share tips and insights that might help companies move from just having lots and lots of data to creating cultures where decisions are made not on gut-feel, or the proverbial seat of the pants, but rather based on data.

Excellent Analytics Tip#5: Conversion Rate Basics & Best Practices

Occam's Razor

It is only fair to follow up a post titled " Stop obsessing about conversion rate " with this post. Just in case you have not read the Stop Obsessing post that please read that first for more context). Conversion rate is a very important metric, used properly. Here is my point of view on the basics and best practices for measuring conversion rate. Definition first: Conversion rate , in percentage, equals Outcomes divided by Unique Visitors during a particular time period.

Excellent Analytics Tip#1: Statistical Significance

Occam's Razor

We all wish that our key internal partners, business decision makers, would use Web Analytics data a lot more to make effective decisions. How do we make recommendations / decisions with confidence? How can we drive action rather than pushing data? The challenge is how to separate Signal from Noise and make it easy to communicate that distinction. This is where Excellent Analytics Tip #1, a recurring series, comes in. Leverage the power of Statistics.

Podcast: Having A Candid Conversation with Angel Investors.

Tim Keane

Managing Investor Relationships » June 28, 2006. Its a talk for Entrepreneurs (this recording is from the State Entrepreneurs Conference in June 2006) about how to select angel investors and also meet their expectations. Its a talk for Entrepreneurs (this recording is from the State Entrepreneurs Conference in June 2006) about how to select angel investors and also meet their expectations. Startups and angels: Along the way to success.

August, 2006 in Review

Spencer Fry

Web 28

Explaining why TMT M&A deals at highest level since 2006

The Equity Kicker

Over the weekend the FT wrote that the value of TMT M&A deals in Q1 was $174bn, the highest level since 2006 and up 65% on the year ago period. The market is hot right now. No doubt about it. The $174bn includes a bunch of cable deals that aren’t relevant for the startup community, but even with those stripped out I’m sure the picture is still very healthy. ‘Is this a bubble?’ ’ I hear you say. I don’t think so.

Excellent Analytics Tip #8: Measure the Real Conversion Rate & "Opportunity Pie"

Occam's Razor

The topic of my speech at the E-consultancy Online Marketing Masterclasses 2006 in London ( sign up here ) is "Conversion Rate Optimization: What, Why, How" While working on one of the slides (Tip # 9) the realization dawned that we measure conversion rate rather sub optimally and in a way that grossly overestimates the improvement possibilities.

Experimentation and Testing: A Primer

Occam's Razor

This post is a primer on the delightful world of testing and experimentation (A/B, Multivariate, and a new term from me: Experience Testing). There is a lot on the web about A/B or Multivariate testing but my hope in this post is to give you some rationale around importance and then a point of view on each methodology along with some tips.

Excellent Analytics Tip #7: The Adorable Site Abandonment Rate Metric

Occam's Razor

How many metrics can you call adorable? Site abandonment rate is an adorable metric, to me : ), for these reasons: Money, money, money baby. IMHO there isn't a metric out there that can tell you a lot so quickly and any improvement you make to it will directly and immediately impact the bottom-line. It measures the customer interaction in a very small number of web pages, probably one for cart and two to three for checkout. How many metrics out there can compete with that?

Trinity: A Mindset & Strategic Approach

Occam's Razor

Some of you have heard me speak at a conference , I always have a deep passion and excitement when I talk about the “Trinity” I wax and wane about it and go on and on about how fantastic the “Trinity” is. But it took a comment from Lisa Seaman to make me realize that I had not written about the “Trinity” on this blog. So Lisa asks wisely: “ I’m not sure I ever got what the “Trinity” is.”

Overview & Importance of Qualitative Metrics

Occam's Razor

Imagine walking into and out of a supermarket. If you did not purchase anything then the supermarket managers probably don't even know you were there. If you purchased something, the supermarket knows something was sold (they know a bit more if you use a membership card). Visiting a website, you leave behind a significant amount of data, whether you buy something or not.

Lab Usability Testing: What, Why, How Much.

Occam's Razor

On this blog we have talked about the importance of the “Why” often. Web Analytics usually simply helps us understand the “What” Clickstream data typically does not tell us why something happened. We have stressed how important it is to know the Why in order to derive actionable insights around customer behavior on the website and outcomes from that behavior. Essentially people do weird stuff on our websites, clickstream won’t tell us why, so we have to ask them why.

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Top Ten: Signs You Are A Great Analyst

Occam's Razor

I am often asked what we look for when we hire Web Analysts or what quality do good Analysts possess or how to measure if a resource that already exists is optimal or how to mentor / motivate / guide our more junior Analysts to propel them to become great Analysts. This blog post is an attempt to answer all those questions wrapped into one. We all agree that reporting is not analysis.

Thinking about pricing - Startups and angels: Along the way to success

Tim Keane

Due diligence: An Entrepreneurs Perspective » October 19, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Calculating Market Share | Main. | Thinking about pricing. When mapping a market, its important to study pricing strategy. This seems like an obvious comment. Of course, everyone understands that somewhere in the equation theres revenue, whether directly or indirectly.

Due diligence: An Entrepreneur's Perspective - Startups and angels.

Tim Keane

Dealing with Attorneys and Legal Advice » October 30, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Thinking about pricing | Main. Due diligence: An Entrepreneurs Perspective. Due diligence by an investor, seen from the entrepreneurs point of view, is all good. Really. Here is an opportunity to really learn a lot about your business prospects and gain perspective.

The Sound of One Hand Clapping - Startups and angels: Along the.

Tim Keane

Calculating Market Share » October 11, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Increasing the Probability of Success | Main. The Sound of One Hand Clapping. The sound of one hand clapping: 1.    Telling a customer you are busy--when you aren't 2.    Telling a VC you have another term sheet -- when you don't 3. 

Looks like we've started something. - Startups and angels: Along.

Tim Keane

Finding Credible Help » September 01, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Startup Success in Silicon Valley | Main. Looks like weve started something. Yesterdays post drew several comments and a lot of traffic. Seems this whole subject is a hot button.

Who Gets To Break The News That Your Puppy is Ugly? - Startups.

Tim Keane

Reducing Startup Risk: A Video Comment » September 21, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Planning for a Harvest | Main. Who Gets To Break The News That Your Puppy is Ugly? Im at the National Association of Seed and Venture Funds meeting in Rochester NY today.

The Best Advisors are Teachers - Startups and angels: Along the.

Tim Keane

Paul Graham on Funding Startups » September 08, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « More on Plan Development | Main. The Best Advisors are Teachers. Several of the insightful comments Ive gotten this week asks if I dont see a place for the business advisor in the entrepreneurial business.

Planning for a Harvest - Startups and angels: Along the way to success

Tim Keane

» September 18, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « I Wish Id Sold More | Main. | Who Gets To Break The News That Your Puppy is Ugly? Planning for a Harvest. In a lot of startups (especially good ones) the founder/CEO/leader is a customer-oriented sales person. After the idea/product/service is built, and the market mapped, the company begins to grow.

I Wish I'd Sold More - Startups and angels: Along the way to success

Tim Keane

Planning for a Harvest » September 13, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Doing Lunch Rather Than Being Lunch | Main. I Wish Id Sold More. Rare is the entrepreneur who at the end, whether good or bad, hasnt said "I wish Id sold more. " Distribution is everything. I am in the midst of at least four deals that focus on this topic.

Listening to Entrepreneurs - Startups and angels: Along the way to.

Tim Keane

When All Else Fails.Manipulate The Data » August 10, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Do You See The Big Picture? Listening to Entrepreneurs. The consistent feedback each semester during my "New Venture Formation" graduate class is that the guest speakers were the highlight of the course.

Who's Who of Angels - Startups and angels: Along the way to success

Tim Keane

Reduce Your Startup Risk » July 06, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Managing Investor Relationships | Main. Whos Who of Angels. This is an interesting article from todays VC Experts website (vcexperts.com) that they forwarded to me. Its a discussion of return calculations for angels as well as a description of "types" of angel investors.

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When All Else Fails.Manipulate The Data - Startups and angels.

Tim Keane

Learning from Failure » August 21, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Listening to Entrepreneurs | Main. When All Else Fails.Manipulate The Data. I saw that on a t-shirt worn by a bartender at the Milwaukee Irish Fest last night. I have no idea why. But I liked it and it got me thinking about entrepreneurs and investors.

Why Seth's "Don't" is 95% Right - Startups and angels: Along the.

Tim Keane

The CEO Needs To Sell…Again » May 01, 2006. Anybody see the Wily Technology deal in early 2006 for one example of how it ought to work?) Anybody see the Wily Technology deal in early 2006 for one example of how it ought to work?) Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Bet on the Stubborn Ones | Main. | Why Seths "Dont" is 95% Right.

Testing to Increase Valuations - Startups and angels: Along the way.

Tim Keane

How to assure yourself that no professional investor will ever want to invest in your venture: » June 22, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « If a pig loses its voice, is it disgruntled? Main. | Testing to Increase Valuations. Let me propose that the best use of resources (time and money) in the startup process is to reduce risk.

Advisors are People Too. - Startups and angels: Along the way to.

Tim Keane

» June 07, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Its always the People!! Main. | Do you know how a banker looks at your business? Advisors are People Too. "OK, so its all about the people, you say," writes Bill. "But dont your criteria include the investors and professional advisors, too?" " Great comment. Of course they do.

Board Seats for Angels in Startups - Startups and angels: Along the.

Tim Keane

» April 21, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Entrepreneurial Outsourcing | Main. | Who is your competition? Board Seats for Angels in Startups. Should Angels be compensated for work as directors of the companies in their portfolios? I am not sure about this, but here is one view that ought to be worth discussing.

"What Makes an Attractive Angel Investment" - Startups and angels.

Tim Keane

Ten questions the entrepreneur should ask the (prospective) investor » April 11, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « What is the angel pondering? Eight points | Main. | What Makes an Attractive Angel Investment". This is an overview prepared by the Marquette Golden Angels Network for entrepreneurs. Download what_makes_an_attractive_angel_investment.pdf. PDF 1.5MB).

A budget discussion with an entrepreneur - Startups and angels.

Tim Keane

» June 13, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « How do you present your venture to an investor? Main. | If a pig loses its voice, is it disgruntled? A budget discussion with an entrepreneur. When you get to the point in the discussion where projections are relevant, there is a drill-down method here used by virtually every investor.

Questions for Entrepreneurs - Startups and angels: Along the way to.

Tim Keane

Lessons Learned: A Successful VC Reflects on his Experience » April 22, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Who is your competition? Questions for Entrepreneurs. Id be interested to know what those of you who are entrepreneurs think about these questions. They can be the start of an informative discussion for all of us: 1.

Are You Learning Every Day? - Startups and angels: Along the way.

Tim Keane

The Entrepreneurs Financial Toolbox » May 09, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Getting Over The Capital Hurdle | Main. | Are You Learning Every Day? Im struck by the number of people I meet who are running new businesses that seem to repeat the same mistakes. Im certain this isnt because they want to; I also believe they have the ability not to.

Tips for talking to investors - Startups and angels: Along the way to.

Tim Keane

Compensation for Entrepreneurs » May 18, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Anticipating The Customers Needs | Main. Tips for talking to investors. If you find yourself presenting to investors, here are a couple of tips. These are in addition to market opportunity-competitive matrix-deal issues, which I assume would also be covered.

The CEO Needs To Sell?Again - Startups and angels: Along the.

Tim Keane

Competitors and Territory Maps » May 02, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Why Seths "Dont" is 95% Right | Main. The CEO Needs To Sell…Again. Here’s a post from Jason Caplain , a VC in Ralieigh, NC with another take that adds more meaning to the discussion about the entrepreneur being the chief sales guy.

Pick Your Investor With Care - Startups and angels: Along the way to.

Tim Keane

Pizzas, People and Progress » May 22, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Compensation for Entrepreneurs | Main. Pick Your Investor With Care. The great day has arrived.    Tomorrow, you're going to close your first professional investment with "Fred," a wealthy individual you met at a networking event. 

Getting Over The Capital Hurdle - Startups and angels: Along the.

Tim Keane

» May 08, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « How Do You Teach Entrepreneurship? Main. | Are You Learning Every Day? Getting Over The Capital Hurdle. "My question is how you get over the capital hurdle when you have a product that straddles the fence between the need for Angel Investors and VC money and your friends and family cannot get you over the hump?"

Lessons Learned: A Successful VC Reflects on his Experience.

Tim Keane

The Equality Conundrum: Where 50-50 equals Zero » April 24, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Questions for Entrepreneurs | Main. | Lessons Learned: A Successful VC Reflects on his Experience. Last night, Bob Zieserl, Venture Capitalist, and general partner at Stratus Ventures, was the keynote speaker at the Marquette University Business Plan Competition.

Paul Graham 2006: Advice to entrepreneurs – Don’t get your hopes up

The Equity Kicker

Someone just linked me to a Paul Graham essay from 2006 titled The hardest lessons for startups to learn. All seven lessons are great, but the last one really struck a chord with me: 7. Don’t Get Your Hopes Up. Startup founders are naturally optimistic. They wouldn’t do it otherwise. But you should treat your optimism the way you’d treat the core of a nuclear reactor: as a source of power that’s also very dangerous.

Lean 94

Ten questions the entrepreneur should ask the (prospective) investor

Tim Keane

» April 12, 2006. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « "What Makes an Attractive Angel Investment" | Main. | The best salesperson is. Ten questions the entrepreneur should ask the (prospective) investor. Of course, not all money is created equal. Some comes attached to investors who are making their first investment, for instance.

Having too much money can be a curse, not a blessing

BeyondVC

Trust me, I love having well capitalized companies. However, having too much money can be a curse, not a blessing. More often than not, I see management lose financial discipline and avoid making hard decisions when capital is abundant and not scarce. To many executives, money does solve all problems. And yes, having money allows an entrepreneur to do many things with his business like hire more talent, scale the back-end infrastructure, and ramp up sales and marketing.