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Nearly four in five CEOs complained that CMOs can’t explain how brand equity can be linked to recognized financial measures such as firm equity. The result was an eightfold improvement in revenues from innovations developed with the help of such customers vs. innovations developed by 3M’s ordinary, internally developed process.
Here’s the punchline: if you run your company as if you have closed a VC equity financing round even though you actually closed a convertible debt round, you’ll be in much better shape when it comes time to raise your Series A financing. So why would you treat your debt investors (somewhat) like equity investors?
I’ve recently advised a number of emerging private equity and VC funds who are wrestling with the question: What are the highest impact steps they can take to support their portfolio companies? . Almost every private equity and venture capital investor now advertises that they have a platform to support their portfolio companies.
There’s been a lot of hand-wringing about gender equity in the high-tech and entrepreneurship worlds lately. There’s been a lot of hand-wringing about gender equity in the high-tech and entrepreneurship worlds lately. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
Flexibility - You won’t need to commit to something, either cash, equity or involving other people, upfront. Cons: Money - Unless you have cash to pay, the pool of developers willing to work for equity is small. Access - Good developers are tough to find. Cons: Cost - Most development shops work on a cash basis.
Unlike other incubator-led programs, this workshop is open to anyone who wants to learn, and it does not require companies take investment or give out equity. Im working on a future post where Ill share the details of how I used customerdevelopment to shape both the content and packaging of this event, so look for that soon.
In our experience, structured customerdevelopment work is right up there amongst the most valuable things a founder can do in the early days of their startup. Once you have an idea that feels strong, it’s imperative to speak with customers about it. But good customerdevelopment is tough to do.
It is the ultimate productdevelopment get-started guide to Lean Startup. Also included is the incredible Venture Hacks Bible, which is worth the price of admission on its own, and The Entrepreneurs Guide to CustomerDevelopment (which I previously reviewed here). And theres so much more. And theres so much more.
Startups don’t have access to the same resources or brand equity. September 2013 – Ryan Holiday publishes Growth Hacker Marketing and urges people to build growth into the product itself so that it’s a self-sustaining, scalable growth machine. Conducted CustomerDevelopment. Established product-market fit.
I do believe the only reason the developers were willing to work for some equity is because they became friends with us at Hackers and Founders, so that part worked. I pick my cofounder's brain almost daily about the inner workings of our product, so that I can be better informed about the tech side of things.
Another great way to test your idea is to create a minimum viable product, or MVP. This is the simplest version of your product minus the frills and frosting. It’s a particularly popular strategy in the world of productdevelopment and is used to quickly and quantitatively test a product or a product feature.
Offer equity instead of cash. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? Everybody should be selling. Selling is an honorable profession. Everyone from the receptionist to engineers is selling. Not just about expenses, about increasing revenue. Voluntary salary reduction program.
This is a quote from Leander Kahney’s recently published book on Apple design chief Jony Ive: “In the world according to Steve Jobs, the ANPP would rapidly evolve into a well-defined process for bringing new products to market by laying out in extreme detail every stage of productdevelopment.
Equity-Only CTO and Equity-Only Developers - SoCal CTO , November 1, 2010 I had a recent email dialog with the founder of a company looking for a CTO for their startup. Today, brands are hiring social media specialists for customer support, crowdsourced productdevelopment, promotions and even leads generation.
Not surprisingly, the list above also is ranked from least to most equity stake in an investment for the investor, relative to the cash they invest. How would one set up such a startup to eventually raise capital from outside VCs, who will be wary of ‘dead equity’ (i.e., equity that belongs to departed cofounders)? The cliffs?
They have many, many man-years of development and customerdevelopment in them. You have your general management meeting and in your general management meeting you talk about productdevelopment, about marketing and about finance. How do you split equity? Edwin: There are a million others. Edwin: I know.
Steve Blank on Lean CustomerDevelopment. Great for visualizing work of productdevelopment. YCombinator Series AA Equity Financing Documents. Founder Equity Issues. Venture Hacks equity section. Legal, Equity, etc. Codeacademy. Lean Methodology Sources. Steve Blank. SW Courses. Part 1- Intro.
These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customerdevelopment versus more product features, agility and speed versus lowest cost. existing enterprises are establishing corporate innovation groups. StageGate Process.
what are the most crucial steps to be taken by a new tech startup when outsourcing major part of the tech to IT firms or outsourcing “productdevelopment” eg new social media website project? Near shoring development with your team (ex: your team is based in Canada / India) is cool, but not outsourcing. 1) Hire A’s.
My way of explaining our support and service role to the marketing department was that: Sales is the sharp end of the stick, and marketing at best, is the stick. But while the sales team works for commission, the rest of the employees have equity (stock) in the company.
are just emerging for business people (customerdevelopment, business model generation,). He correctly identifies the three disciplines that have to be represented in a balanced and collaborative manner: developer, designer, distributer. 90% of entrepreneurs can not raise capital.
AgileZen – project management visually see and interact with your work Kanbanery – Simple online team or personal kanban board LeanKit Kanban – Great for visualizing work of productdevelopment Kanban Pad – “Nice and lean” and free online Kanban tool Banana Scrum – A tool simple as Scrum itself.
" => I have not bothered to put up a landing page, survey to test customer demand, or done any customerdevelopment whatsoever. "Where is the best place to find a rockstar developer to bring it to life?" Just go to a meetup or post an ad promising equity. This person does not exist.
However, my two initial co-founders were not technical and couldn’t contribute significantly during the initial year plus of development. This resulted in a recapitilization of the equity away from 33% each (in my favor) and then the ultimate dismissal of one of the co-founders prior to the A-round.
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