Helping entrepreneurs find the path to scalable, profitable growth
Finding Product-Market Fit: Desirable, Feasible, and Viable
Finding product-market fit before you run out of cash, patience or passion for the problem you are trying to solve is the race you are running when you launch your startup. But what is it? How do you set SMART Goals against this concept, and how do you know when you’ve found it? My favorite…
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What Are KPIs (Key Performance Indicators)
The first step in building an assessment framework that you can trust is to pick the right Key Performance Indicators (KPIs). KPIs are the metrics you measure that tie directly to the goals you want to achieve. In the case of a startup, your goal is profitable, scalable growth. The challenge is in picking the…
Why You Must Set Goals For Your Startup
Why did you start your company? You know that most startups fail. You know that building a company from scratch is incredibly difficult. You have heard stories of the ‘trough of sorrow,’ which sounds terrifying, and yet you launched your startup anyway. Why? What are you trying to achieve? What are your goals? Create a…
What Are SMART Goals?
SMART is an acronym that stands for: Specific: Your goal is direct, detailed and meaningful (Who, What, When, Where, Why)Measurable: Your goal is quantifiable to track progress or successAttainable: Your goal is realistic, and you have the tools and/or resources to attain itRelevant: Your goal aligns with your company missionTime Bound: Your goal has a…
Webinar: Startup Survival Strategy in the Age of Coronavirus
On Wednesday, March 25, 2020 I delivered the webinar Startup Survival Strategy in the Coronavirus Era. This session was created just at the start of the Coronavirus pandemic. Topics covered include: Setting up an early warning systemUnderstanding your KPIs and the connection to your cash flowTaking decisive action to protect your companyCommon roadblocks to making…
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Your Startup’s Early Warning System In The Age Of Coronavirus
As the spread of Coronavirus accelerates, a startup’s best-laid plans for the year have been scrambled. Pay attention to the KPIs tied to your sales funnel.
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What Is Your Business Model?
If there is one thing that I think we can all agree on, it’s that Google Maps is still much better than Apple Maps. This is particularly true when I’m going somewhere off the beaten path…a new camping spot or perhaps a restaurant in a remote location. But if Google Maps thinks I’m walking rather…
Know Your Burn Rate – Set Up Your Assessment Framework
Stephen Blank describes a startup as an organization formed to search for a repeatable, scalable, profitable business model. They are not small versions of large corporations. A well-run startup is like a laboratory, testing hypothesis, comparing actual results against expected results, and constantly executing small pivots until a company is born. Or unit the cash…
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Don’t Race Ahead To Find The Treasure. Take The Time To Decode The Map.
The classic treasure hunt story always centers around the map. First, our heroine has to find the map. Then she has to decode the map. And then finally, she needs to follow the map, navigating dangerous obstacles along the way to riches beyond her wildest dreams. Building a startup is a lot like this. Once…
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Now You Know That Private Company Valuations Are Arbitrary
The recent WeWork IPO debacle is certainly a great demonstration of how unreliable and arbitrary private company valuations can be. Six weeks ago WeWork expected to go public at a valuation of as much as $60 billion. Now they are on the edge of bankruptcy and hoping for a lifeline at a valuation of $8…
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Gross Revenue Is A Vanity Metric
Gross Revenue charts on fundraise decks. Gross Revenue used to calculate customer lifetime value. Gross Revenue used to calculate sales team commissions! Gross Revenue is one of those numbers that can make me a little crazy. Because in many types of businesses, it’s an incredibly misleading number. It can tell a story of happiness and…
How Do You Deal With A Request For Secondary From An Existing Investor
It’s not you. It’s me. I swear. I think your company is great. I think you’re great. I believe in what you’re building, and I think you will be wildly successful. But here’s the thing. We’ve been together for five years. I need to see other companies. We can still be friends. But…well…I know this…
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