Startup Professionals Musings

JULY 9, 2017

An effective tool I see used more and more, as a prelude to a more detailed business plan, is the Business Model Canvas , first introduced by Alexander Osterwalder back in 2008. In my experience as a new business advisor, a business is nothing until people are aligned and work in sync. Key resources.

Business Model 143

Business Model Intellectual Property Startup Angel Investor 143

ReadWriteStart

JANUARY 25, 2020

On the topic of ecommerce, one wonders to what extent this business model is applicable, and where is it likely to end? It’s the extent of this phenomenon that has resulted in soaring businesses across the world. You have your business venture ready, you’ve bought the domain and hosting, and prepared to be famous.

eCommerce 152

eCommerce Technical Review Social Media Analytics 152

Steve Blank

MAY 6, 2015

Learning could be about product features, customer needs, the right pricing and distribution channel, etc.) These hypotheses span the gamut from who’s the customer(s), to what’s the value proposition (product/service features), pricing, distribution channel, and demand creation (customer acquisition, activation, retention, etc.).

Lean 120

Lean Agile Business Model Customer Development 120

Steve Blank

APRIL 4, 2011

This week they were testing who the customer, user, payer for the product will be (and discovering if they have a multi-sided business model , one with both buyers and sellers.) Politely it was described as “poor customer retention” but in reality it was because the product was really hard to use. Demand generation?

Customer 240

Customer Business Model Nebraska Cloud 240

Startup Professionals Musings

JULY 13, 2019

An effective tool I see used more and more, as a prelude to a more detailed business plan, is the Business Model Canvas , first introduced by Alexander Osterwalder back in 2008. In my experience as a new business advisor, a business is nothing until people are aligned and work in sync. Key resources.

Intellectual Property 250

Intellectual Property Business Model Angel Investor Channel 250

Up and Running

SEPTEMBER 14, 2021

You can also do the following: Increase the level of client happiness and retention. It will also dictate how it’s presented, what channels you leverage, and how often you present it. Show them you’re a dynamic business. Personalize your products and services to meet your clients’ demands and needs.

Sales 152

Sales Audience Social Media Email 152

Hearpreneur

NOVEMBER 2, 2022

One notable change on the horizon for my business is the use of LED walls in exhibits, which is growing more prevalent as the technology has become more reliable and the cost has decreased. That’s not an HR policy or a perk; it’s our actual business model. 9- Customer Retention. 15- Reduced operating costs.

Technical Review 104

Technical Review Software Review Artificial Inteligence Technology 104

Hearpreneur

JANUARY 1, 2023

During such times a firm should take measures that have historically been thought to safeguard it, such as cutting costs, lowering goals, and keeping an eye on cash flow to weather the impending storm. If possible, settle debts before being subject to inflationary costs for your business. 2- Create an emergency fund.

Entrepreneur 95

Entrepreneur Software Review Technical Review Revenue 95

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. It cuts production time and costs in half without compromising functionality or style.

Technical Review 122

Technical Review Entrepreneur Software Review SEO 122

Steve Blank

MARCH 4, 2014

These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost. Every large company, whether it can articulate it or not, is executing a proven business model (s).

IRR 335

IRR Startup Business Model Agile 335

Both Sides of the Table

OCTOBER 10, 2011

They are potentially different business models. The decision to split the businesses : 3 out of 5 stars. I really like the clarity of two business units – whatever you name them. They’re the “cost conscious” segment and perhaps overlapping with the “technology laggard” segment.

Customer 287

Customer Technical Review Caching PR 287

Up and Running

NOVEMBER 23, 2021

Did you, as an eCommerce store owner, know that for online retailers, the average cost to fulfill an order is about 70% of the average order value ? Especially when you’re busy managing several large and small functionalities that form just a part of the entire selling process. What models of eCommerce fulfillment are available?

eCommerce 110

eCommerce Customer Retention Reputation 110

SoCal CTO

OCTOBER 8, 2009

In many cases, I can break it down into: Customer Acquisition Cost – how will you reach prospects, how will you convert them and how much will it cost to convert them Customer Lifetime Value – how much will you make off of each converted customer This very simple model works for a surprising number of business models.

Metrics 225

Metrics Startup Retention Acquisition 225

ConversionXL

SEPTEMBER 20, 2018

Just take a look at these three channels: Facebook : 171% Increase in Cost per Thousand Impressions, or CPM ( 2017 ). There are other channels, of course, but these numbers give us a hint that, well, marketing isn’t getting any cheaper. customer acquisition process and channels). Twitter : 20% Increase in CPM ( Q4 2017 ).

Marketing 289

Marketing Sales Cycle Acquisition Sales 289

ReadWriteStart

OCTOBER 2, 2023

A SaaS UX design that is intuitive, efficient, and enjoyable can significantly impact user satisfaction, retention, and overall success. Use this voice consistently across all marketing materials and communication channels. Customer acquisition cost (CAC): CAC is the money a company spends to acquire a new customer.

Design 105

Design Product Churn Rate Architecture 105

ConversionXL

MARCH 29, 2017

Rob Sobers of Varonis confirms… Rob Sobers , Varonis : “While traditional marketing teams might appear to operate like growth teams in terms of the channels they use (SEM, content marketing, email, etc.), If you don’t have a validated product or business model yet, stop here. before continuing.

Marketing 48

Marketing Distribution Retention eCommerce 48

YoungUpstarts

OCTOBER 1, 2019

In business, multi-channel communication has dramatically reduced phone calls to companies; customers can get answers and place orders via email, on websites or through social media channels. For anyone and any business to thrive in the future, they will have to master the art of relationship building.

Founder 113

Founder Artificial Inteligence Ohio Retention 113

Steve Blank

APRIL 1, 2020

Any place with a fixed cost that relies on foot traffic will come under pressure. Cut costs to stay alive for 24 months. Payroll costs/other variable costs. Remember, a year from now no one wants to be the CEO of a company out of business whose lament is, “I did what the board told me to do.”. External Assessment.

South Korea 334

South Korea Salary Business Model China 334

YoungUpstarts

JULY 5, 2018

Monthly subscription boxes for pet goods, beauty items and apparel have exploded in popularity among consumers lately, and subscription business models have attracted the wide interest of companies from Microsoft to Cadillac to Office Depot. What they keep is paid for, and the other items can be returned at no cost.

Programming 113

Programming Bankruptcy Curation Retention 113

Hippoland

AUGUST 8, 2018

Very simply, your cost to acquire a customer needs to be lower than the value of that customer (lifetime value). As always, there are exceptions: if you build a viral consumer product (such as an Instagram) where people are just coming to your site / app in droves at no cost to you, then you’ve got a great business.

Founder 48

Founder Sales Cycle Affiliate Retention 48

Hippoland

AUGUST 8, 2018

Very simply, your cost to acquire a customer needs to be lower than the value of that customer (lifetime value). As always, there are exceptions: if you build a viral consumer product (such as an Instagram) where people are just coming to your site / app in droves at no cost to you, then you’ve got a great business.

Founder 48

Founder Sales Cycle Affiliate Retention 48

The Startup Toolkit

NOVEMBER 15, 2012

So here’s another way of thinking about the stages of a startup in visual terms using the business model canvas[2]. Important Business Question #1: does anybody care at all and will they pay us? In cases like that, you can just tick off that bit of the model and move on to other questions.

Startup 55

Startup Business Model Retention Acquisition 55

YoungUpstarts

NOVEMBER 7, 2012

In a small company, cost-saving ideas, customer retention, and marketing concepts can come from anywhere. And in return, the NPOs received donated product and manpower at events, as well as publicity via Barefoot’s distribution channels. Consider offering bonuses based on sales, cost reductions, and customer retention.

Small Business 210

Small Business Retention Government Distribution 210

Steve Blank

APRIL 20, 2021

Note that if you’re familiar with the business model canvas, Steps 1-4 below are equivalent to a visual map of the choices a founder makes as they develop a business model canvas. In other words, you prove retention. With both growth and retention, you earn the right to build more. Sales channels.

Product 436

Product Viral Channel San Francisco 436

ConversionXL

SEPTEMBER 28, 2017

3) Customer Acquisition Cost. Your budgetary number for how much you spend to acquire a customer is known as the “ customer acquisition cost ” (CAC). The initial cost per customer should be less than the profit made once they’re converted (or be lower than LTV if you know it). Calculating LTV depends on your business model.

Metrics 121

Metrics Acquisition Conversion Revenue 121

ConversionXL

NOVEMBER 17, 2022

Digital analytics is the process of analyzing data to uncover insights that help improve business and marketing performance. It involves collecting and measuring data from interactions with your website, ecommerce store, social media channels, and mobile apps to make decisions based on audience or user behavior.

Analytics 106

Analytics Metrics Channel Campaign 106

Occam's Razor

MAY 2, 2017

What if you are a tiny local business in a narrow niche, should you use the same approach as Betabrand? Always adapt to what’s most important and sensible for you (and remember that nothing is free, every measurement decision you make has a cost!). Though we have looked at only a couple, I hope you are starting to see the patterns.

Metrics 141

Metrics Acquisition eCommerce Analytics 141

Hearpreneur

JANUARY 7, 2017

The idea for my business came when I was stranded on the side of the road with my broken down vehicle. I knew it was an easy fix, so I really didn’t want to pay for a tow truck in addition to the cost of the repair. 20 – To Blend A Beautiful Business Model. He laughed and said I don’t do house calls.

Entrepreneur 91

Entrepreneur LLC Cofounder Green 91

Startup Lessons Learned

APRIL 14, 2009

What matters is proving the viability of the company’s business model, what investors call “traction.&# Of course this is not at all true of many profitable small businesses, but they are not what I mean by startups.) Most importantly, they have lots of data about the unit economics of their business.

Customer 167

Customer San Francisco Lean Hockey Stick 167

Steve Blank

FEBRUARY 26, 2020

For a Series A round you want to prove you have built a repeatable and scalable sales/revenue model and understand all parts of the business model. Series B is about proving your net revenue model (can you be profitable?). Team, Product, Traction, Business Model and Market. Business Model.

Cofounder 431

Cofounder Seed Stage Valuation Metrics 431

Ben's Blog

MAY 15, 2020

Finally, we’ll zoom out and assess the big picture: how various categories of company may be impacted long-term, how this crisis compares to 2008 (and what that means for early-stage founders), and the industries and business models that are now prime for growth. And I think ultimately, both strategies can work.

Founder 36

Founder Conversion Technical Review Cash Position 36

Startup Lessons Learned

DECEMBER 14, 2009

Lessons Learned by Eric Ries Monday, December 14, 2009 Business ecology and the four customer currencies Lately, I’ve been rethinking the concept of “business model&# for startups, in favor of something I call “business ecology.&# Constructing a working business model is a form of ecosystem design.

Customer 156

Customer San Francisco Viral Lean 156

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. Outsourcing is something a big company, with a known customer / problem (that has revenue & traction) does to save cost. No investor cares about a business plan. Hope that helps.

Technical Review 44

Technical Review Startup Cofounder Software Review 44

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. MRR is probably the most critical metric for any subscription business. It’s what makes the subscription model awesome.

Software Review 48

Software Review Metrics Revenue Acquisition 48

Mucker Lab

MAY 1, 2013

Turns out, for whatever reason – cultural, business model, leadership, even bad luck – many incumbents have yet to figure out what to do with software, always on connectivity, and technology. 20 years since Mosaic , if they haven’t figured it out – they probably will never figure it out. E-commerce is the canary in the coal mine.

Software 107

Software Silicon Valley Los Angeles Columbus 107

Occam's Razor

NOVEMBER 15, 2010

No company in the Milky Way has succeeded without having a balanced portfolio of acquisition channels (fancy word for source of traffic). If direct traffic is low, I worry if you are any good at customer service / retention (the latter is so often just an afterthought). Reduced Cost. How's yours? 20% to 30% Referring Sites.

Web 139

Web Analytics eCommerce Campaign 139

Startup Professionals Musings

MARCH 5, 2023

Bill was relentless in his focus on getting the software PC DOS project delivered, while continually challenging us with new business models. Effective marketing requires converting ideas to real content, creating programs to educate channels, and managing metrics to see what works and what needs to change.

Cofounder 389

Cofounder Startup Term Sheet Acquisition 389