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The vast majority of business owners and entrepreneurs aren’t business experts. One of the biggest mistakes entrepreneurs make in their business plans is stating that they don’t have any competition. An online software company might look at churnrates (the percentage of customers that cancel) and new signups.
These people exist and they are called ‘Serial entrepreneurs.’. Serial entrepreneurs are those who understand the complete concept of a startup lifecycle and benefit from that. You have a low churnrate and you are in the business for last five years at a minimum. Is there an exitstrategy? Growth stage.
Small investment firms often have interns and entrepreneurs in residence passing through, each of which is a security risk. Chris Dixon, Partner, A16Z, observes , “Success in VC is probably 10% about picking, and 90% about sourcing the right deals and having entrepreneurs choose your firm as a partner”. 2) Market .
I actually use LivePlan and I mentor entrepreneurs all over the world. I have some entrepreneurs who are in Gaza, who are in Cairo, who are in New Jersey, and I’m in Oregon. As an entrepreneur I would say 50/50. Then referral rates and opt-out rates. Great okay, so now you’ve got your exitstrategy.
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