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. See if your fixed costs are really fixed, or will they agree to defer some for higher payments at a future date. Before layoffs, cut all salaries by 20%.

South Korea 334

South Korea Salary Business Model China 334

The Startup Magazine

JUNE 14, 2023

Studies have found that employee turnover results in businesses losing over $1 trillion annually. This staggering number can affect your company’s bottom line, but by providing the right incentives, you can decrease the cost of poor employee retention. Human nature is to improve and feel valued.

Employee 158

Employee Retention Salary Programming 158

YoungUpstarts

OCTOBER 6, 2014

by Michael Houlihan and Bonnie Harvey, authors of “ The Entrepreneurial Culture: 23 Ways to Engage and Empower Your Peopl e “ We all know today’s companies need to be more nimble, more innovative, and more entrepreneurial, and that this shift begins with employees. We were able to do so because of their dedicated employees.

Employee 208

Employee Leadership Technical Review Hiring 208

Both Sides of the Table

DECEMBER 27, 2011

If you hire 6 sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business for 4-6 months. ” If you’re not profitable you’re purely a cost center to them. Cost of Goods Sold (COGS) =. Operating Costs.

Startup 418

Startup Revenue Technical Review Flash 418

Startup Professionals Musings

FEBRUARY 24, 2020

One of the most stressful and unanticipated challenges that comes with starting a new business is hiring and managing employees. While this approach appears to cost more on the surface, it often actually costs you less, when you consider the hidden costs of rework, poor customer satisfaction, employee management, and training required.

Technical Review 308

Technical Review Due Diligence Startup Employee 308

The Startup Magazine

NOVEMBER 13, 2020

There are hidden startup costs can quickly surpass available funding, highlighting the importance of careful startup budgeting. In addition to these common outlays, there are several hidden startup costs that entrepreneurs tend to overlook or never know existed. Employee Benefits. Overall cost is typically 1.25

Cost 151

Cost Entrepreneur Software Review Salary 151

Steve Blank

APRIL 10, 2019

VC’s have just changed the ~50-year old social contract with startup employees. For most startup employee’s startup stock options are now a bad deal. As Venture Capital emerged as an industry in the mid 1970’s, investors in venture-funded startups began to give stock options to all their employees. Here’s why.

Stock Options 335

Stock Options Stock Vesting Common Stock 335

Up and Running

SEPTEMBER 11, 2020

In fact, some of the biggest company expenses start off as cost-cutting measures. Cutting costs vs. cutting corners. It can also be a result of second-rate cost-reduction tactics. Are you cutting costs or merely cutting corners? Check out these cost-reduction methods that may eventually have you spending more.

Cost 150

Cost Technical Review Salary Social Media 150

SoCal CTO

APRIL 28, 2014

Here are some of the issues that were mentioned: I just want the cost, timeline and impact. Estimating Cost – it takes a lot of work to do a reasonable estimate of cost. Re-estimating – if estimating is something they don’t like, then having to re-estimate costs based on a constantly changing target is brutal.

Technical Cofounder 280

Technical Cofounder Developer Fractional CTO CTO Hire 280

YoungUpstarts

NOVEMBER 23, 2020

This means that companies do not have to keep an expensive in-house team idle and still pay them big salaries. It makes economic sense to pay for the number of customers served compared to hiring a full-time employee. This not only saves the companies enormous costs of salaries but also gives them access to expertise.

Startup 238

Startup Technical Review Salary Hiring 238

Startup Professionals Musings

OCTOBER 5, 2014

Things will cost more than you expect. Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Cashflow out equates to burn rate, and the runway depends on your reserves.

Burn Rate 262

Burn Rate Hockey Stick Entrepreneur Salary 262

Startup Professionals Musings

MAY 14, 2023

Things will cost more than you expect. Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Cash flow out equates to burn rate, and the runway depends on your reserves.

Burn Rate 258

Burn Rate Hockey Stick Management Salary 258

The Startup Magazine

MAY 31, 2022

Any operation that involves an employee, like recruitment, payroll management, or even offboarding, can be included in these HR functions or duties. . On the other hand, HR agencies offer cost-effective, standardized services, while consultants offer customized HR solutions (best for small companies). 2 Managing Performance.

United States 158

United States Salary UAE Hiring 158

ReadWriteStart

JUNE 8, 2021

But one of the secrets to effective scaling is an efficient team; if your employees are working productively and consistently, they’ll be capable of making your vision a reality. What Makes Employees Productive in a New Startup? So what is it that makes employees productive in a new startup? Uncertainty. Experimental workflows.

Employee 127

Employee Product Startup Software Review 127

YoungUpstarts

AUGUST 20, 2020

This means it can be easy to measure employees’ productivity based on the number of completed projects. This way, you may engage such employees to improve their performance levels to meet your productivity goals. When things are in the open, workers can easily understand their earnings and those of other employees.

Software 219

Software Management Salary Startup 219

YoungUpstarts

APRIL 6, 2020

Smart scheduling software for employees is a terrific example of modern tech that refines and upgrades a traditional workplace process – in this case, staff rostering. By overhauling your existing staff scheduling process, you can empower your employees , reactively respond to staff shortages and bring about a world of improvements.

Software Review 179

Software Review Software Product Technical Review 179

Startup Professionals Musings

SEPTEMBER 29, 2018

Things will cost more than you expect. Deferred payments start with stretching the payables period but, more importantly, include giving employee equity in lieu of a higher salaries and negotiating vendor deferred payments out of future revenues. Cash flow out equates to burn rate, and the runway depends on your reserves.

Burn Rate 223

Burn Rate Hockey Stick Startup Salary 223

Startup Professionals Musings

FEBRUARY 9, 2022

As United Airlines found out a few years ago, delays in addressing customer or vendor problems can cost you more in a single day than many companies make in a year. Top employees are leaving for better opportunities. You must never be too busy on daily issues to prepare for and handle these situations.

Leadership 301

Leadership Founder Salary Demand 301

YoungUpstarts

AUGUST 31, 2020

In addition, not everyone has the privilege of having a real personal assistant due to high costs. According to a survey conducted by DELL Technologies, 82% of surveyed managers expect integrated teams to consist of employees, machines, and systems in the next few years.

Artificial Inteligence 214

Artificial Inteligence Mali Management Technical Review 214

Up and Running

OCTOBER 28, 2022

Pros and cons of using your own money for startup costs. Conduct a cost estimation. Business ownership comes with many expenses — both startup and ongoing — making it crucial for you to arrive at an accurate cost estimation. This may include things like rent, inventory, marketing, utilities, employee salaries, and so on.

Cost 138

Cost Startup Early Stage Vesting 138

Both Sides of the Table

NOVEMBER 14, 2017

MakeSpace (as he named it) would help you get your excess goods into low-cost warehouses. As companies get this initial customer feedback on their product they start to have to ask harder questions about unit economics: How much does it cost us to acquire a new customer? and we were met with weak demand, slow growth and high costs.

Operations 286

Operations New York City Technical Review Startup 286

YoungUpstarts

AUGUST 3, 2020

For example, in January 1914, Henry Ford doubled his workers’ salary to $5 a day to ensure a stable workforce-a workforce that could afford the product they are making. So even if we see the whole pandemic from the economic lens, it would not be wise for the businesses to lay off employees on such a large scale. Wrapping Up.

Leadership 189

Leadership Technical Review Java Software Review 189

The Startup Magazine

JUNE 20, 2024

[link] Now, according to Forbes , a startup has to spend around 15 to 50 percent of its budget on paying its employees. A fractional CMO, on the other hand, provides access to high-level marketing expertise without the commitment and cost of a full-time executive. You need not worry about the financial burden of a full-time salary.

B2B 148

B2B Hiring Salary Early Stage 148

YoungUpstarts

OCTOBER 23, 2019

But in this customer-focused model, some businesses make the mistake of neglecting to focus on their employees. Their study, alongside others , found that happier employees are at least a predictor of customer happiness, if not one of the main causes. Happier employees = greater customer loyalty. But what’s the reason for this?

Employee 113

Employee Customer Software Review Salary 113

Duct Tape Marketing

OCTOBER 28, 2024

Key Roles & Costs: CMO, Marketing Director, or VP of Marketing Monthly Cost : $15,363 - $29,732 Pros : You get a seasoned marketing expert who’s fully dedicated to your business. Cons : The cost is high, and for many small businesses, it’s just not practical. Cons : Costs add up quickly.

Small Business 80

Small Business Hiring Marketing Jordan 80

Duct Tape Marketing

JUNE 7, 2023

How Employee Experience Shapes Brand Perception written by John Jantsch read more at Duct Tape Marketing Marketing Podcast with Tiffani Bova In this episode of the Duct Tape Marketing Podcast , I interview Tiffani Bova. Key Takeaway: Prioritizing the employee experience alongside customer experience drives business success.

Employee 90

Employee Technical Review Advisory Board Sales 90

Up and Running

JUNE 28, 2021

On average, employees change jobs every four years. Employee retention is one of the biggest and potentially expensive issues for companies. Employee retention is one of the biggest and potentially expensive issues for companies. There are many ways to help your employees and make them thrive in the workplace.

Employee 83

Employee Developer Software Review Salary 83

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 4, 2017

By which they mean: Without stupid rules that assume employees are dumb or evil, without everything taking ten times longer than it should, without wall-to-wall meetings, without resorting to hiring anything less than the top 1% of the talent pool, and so on. Why is this impossible when you have 500 employees? From Brittle to Robust.

Government 223

Government Startup Cofounder Technical Support 223

Steve Blank

OCTOBER 24, 2017

Continuous innovation requires the imagination and courage to challenge the initial hypotheses of your current business model (channel, cost, customers, products, supply chain, etc.) In the 20th century the only way the founder made any money (other than their salary) was when the company went public or got sold. The founders.

Founder 281

Founder Technical Review CTO Hire IPO 281

A Smart Bear: Startups and Marketing for Geeks

NOVEMBER 7, 2017

Examples: large bidders tripled the cost per click, Google’s SEO algorithm changed, the event organizers changed the rules or stopped doing the event, the link-sharing site became irrelevant, the hot blog lost its traffic, the magazine running the ads finally failed. A key employee left the company, which caused the company to fail.

Software Review 294

Software Review Channel Revenue Non-Compete 294

YoungUpstarts

DECEMBER 21, 2016

Could the benefits offset the cost of outside help? Let’s examine the most important elements of a strong social media marketing strategy and assess the real cost of implementing in-house versus bringing on an expert or agency for help. The average social media expert will expect a $40k – $60k salary.

Social Media 100

Social Media Media Cost Advertising 100

YoungUpstarts

APRIL 16, 2020

What are my top 3 costs? So long as you have good gross margins (double-check how you calculate this – small businesses often do not allocate costs correctly) then you can usually grow your way out of a cash crisis… on paper anyway. Stop founder salaries. Furlough non-essential employees. Focus on operating efficiencies.

Recapitalization 200

Recapitalization Forecast Software Review Finance 200

The Startup Magazine

APRIL 2, 2022

Moreover, the demand for freelancers is also set to increase as the gig economy proves that they are equally productive as full-time employees, but arguably, a more cost-effective option for employers. Hiring talented and skilled freelancers can help cut costs for many businesses. Be Ready for Them.

Salary 173

Salary Hiring Portfolio Cost 173

Startup Professionals Musings

FEBRUARY 17, 2021

It wasn’t so many years ago that starting a new e-commerce business on the Internet was a complex custom development project, usually costing a million dollars or more. Almost anyone can start a company today on a shoestring budget, following these cost-cutting recommendations: Establish a solid legal structure for your business.

Cost 405

Cost Entrepreneur Burn Rate Social Media 405

The Startup Magazine

JANUARY 10, 2022

Its essence lies in the prompt connection of IT employees to solve problems without downtime due to a lack of qualified personnel. Simply put, these are temporary, “rented”, employees. In an outstaffing environment, it is easier and faster to find a job with a salary that matches the level of knowledge and skills of the candidate.

Java 165

Java PHP Salary Technical Review 165

YoungUpstarts

SEPTEMBER 23, 2020

An employee could get hurt while on the job, a client file a lawsuit, or a natural disaster could destroy your business premises and equipment. On average, most states require small business owners to have workers’ compensation insurance, as soon as they hire their employees. To Cover Your Employees. Missed wages.

Small Business 219

Small Business Technical Review Employee Hosting 219

The Startup Magazine

OCTOBER 18, 2021

A quick decision combined with a lack of action ended up costing Lewis dearly. Some of the most important lessons he took from the early chaotic days of the pandemic were to remain flexible and trust his employees. Have a pre-established plan for employees to work remotely. He lost every penny he invested in the deal.

Texas 174

Texas Austin Technical Support Employee 174