Both Sides of the Table

SEPTEMBER 30, 2011

When & Whom should you hire? when is the right time to hire your first sales employee? how do you forecast? 14:18 Your first hire should be someone who’s hungry and willing to work. 15:00 Hire somebody who will punch above their weight class. junior vs. senior? brains vs. relationship? when to call.

Software Review 300

Software Review Sales Due Diligence Startup 300

Both Sides of the Table

JULY 1, 2010

As your organization grows and you hire senior staff where you are no longer managing every employee directly the issue of how to manage people that are not your “direct&# reports arises. I never built a Google-sized business but I did build an organization from scratch that grew to 120 employees in 5 countries before we sold it.

CTO Hire 308

CTO Hire Management Technical Review Part-Time VPE 308

Startup Professionals Musings

FEBRUARY 8, 2020

Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Don’t rely on conservative forecasts to reduce risk. Investors don’t fund conservative forecasts, nor wildly optimistic ones, since both imply a lack of commitment or homework. Recruit the best team members and provide incentives.

Management 322

Management Entrepreneur Forecast Stock Options 322

Both Sides of the Table

APRIL 3, 2014

” So I did want any rational person who wants to improve does – I hired a coach. They are the lifeblood of many companies yet they are different than the traditional technology startup DNA so the ways that you hire, motivate, compensate and assess performance of these individuals will be different.

Sales 382

Sales Startup Technical Review Matching 382

Startup Professionals Musings

NOVEMBER 2, 2022

Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Don’t rely on conservative forecasts to reduce risk. Investors don’t fund conservative forecasts, nor wildly optimistic ones, since both imply a lack of commitment or homework. Recruit the best team members and provide incentives.

Forecast 304

Forecast Stock Options Technical Review Metrics 304

Both Sides of the Table

NOVEMBER 19, 2009

But “he didn’t have the budget to hire a developer until he had raised money!&#. We had every chart every invented by man (or McKinsey) showing failure rates of our product, mean-times-to-repair, detailed sales forecast charts, etc. He looked stunned. I said that he had been talking about doing this for too long.

Entrepreneur 414

Entrepreneur Fractional CTO Technical Review CTO Hire 414

Startup Professionals Musings

AUGUST 27, 2014

Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Don’t rely on conservative forecasts to reduce risk. Investors don’t fund conservative forecasts, nor wildly optimistic ones, since both imply a lack of commitment or homework. Recruit the best team members and provide incentives.

Startup 283

Startup Forecast Stock Options Technical Review 283

Both Sides of the Table

JULY 9, 2013

If you’re at a startup and new to sales & sales people you might want to read my basic primers: Why hiring seasoned reps at a startup might not work. Or thinking about how much capital you have and therefore how many people you can hire – you rigorously prioritize. Beware of crocodile salesmen.

Customer 324

Customer PR Marketing Technical Review 324

Both Sides of the Table

FEBRUARY 5, 2011

So I did want any rational person who wants to improve does – I hired a coach. They are the lifeblood of many companies yet they are different than the traditional technology startup DNA so the ways that you hire, motivate, compensate and assess performance of these individuals will be different. Cash, cash, cash.

Sales 316

Sales Technical Review Matching Hiring 316

Up and Running

JULY 27, 2020

If you’ve built a budget and forecast for your business, you’re already one big step ahead of most businesses. But, you can’t just rest on your laurels – you need to put that budget and forecast to work for your business. Develop your cash flow forecast. How to create a dynamic, more accurate cash flow forecast.

Forecast 83

Forecast Management Cash Position Software Review 83

Up and Running

JULY 22, 2014

Sales forecast. Sales forecast. The sales forecast is exactly what it sounds like: your projections, or forecast, of what you think you will sell in a given period (typically, a year to three years). Your sales forecast should be an ongoing part of your business planning process. Cash flow statement. Balance sheet.

Balance Sheet 148

Balance Sheet Forecast Equity .Net 148

Startup Professionals Musings

JULY 3, 2012

The proactive solution is to hire sparingly, and spend the time and effort needed to hire existing experts in all cases. Don’t hire your friends and family, don’t assume they can learn on the job, and don’t assume that cheap is best. Maintain your focus, but assume that changes in your plan will be required.

Advisory Board 240

Advisory Board Forecast Early Stage Product Development 240

Steve Blank

APRIL 1, 2020

Forecasted recovery date. Sales pipeline/forecast. Or if you have sufficient cash, now is the time to hire great people who were never available. When hiring began again, everyone was relieved: “The worst is over. Shelter in place yes/no? Health of Your Current Target Market(s). Actively buying? Not returning calls?

South Korea 334

South Korea Salary Business Model China 334

Both Sides of the Table

SEPTEMBER 17, 2011

One great solution I see is to hire an outstanding CFO who runs both. This person can do budgeting, forecasting, strategic planning, legal, HR, office moves, etc. I think people understand this title to mean more somebody who handles operational issues rather than somebody who is more like a “chief of staff&# as a COO often is.

Operations 292

Operations CTO Hire Startup Early Stage 292

Startup Professionals Musings

APRIL 20, 2011

The proactive solution is to hire sparingly, and spend the time and effort needed to hire existing experts in all cases. Don’t hire your friends and family, don’t assume they can learn on the job, and don’t assume that cheap is best. Maintain your focus, but assume that changes in your plan will be required.

Advisory Board 232

Advisory Board Startup Forecast Early Stage 232

View from Seed

SEPTEMBER 18, 2019

Projecting from the seed stage, there are two types of team-building topics you want to address – key senior hires and org-level team building. As the company progresses through product market fit (PMF), you will want to highlight other key senior hires required to scale and round out the functional expertise of the exec team.

Part-Time VPE 195

Part-Time VPE Seed Stage CTO Hire Forecast 195

Up and Running

OCTOBER 1, 2019

It might seem easier to put off thinking about your first essential new hires. Try to do it all and you’ll spend a lot of time learning new skills (that you’ll eventually hire for) when you should be focusing on growing your business. Hire someone who understands Generation Z (or your target demographic). A marketing maven.

Hiring 77

Hiring Technical Review Small Business Forecast 77

The Startup Magazine

MAY 31, 2022

Your human resource activities can be outsourced to: Independent HR consultants are professionals who can assist you with hiring, HR policies, and other decision-making. Finding and hiring new talent is one of the most important tasks for any HR department. Hire better people from a larger pool of candidates.

United States 158

United States Salary UAE Hiring 158

YoungUpstarts

JANUARY 2, 2019

Business leaders must change how they hire and train employees. An oft-quoted 2013 Oxford University whitepaper forecasts that 47 percent of jobs could be lost to technology over the next 20 years. There are far better signals on which to base hiring decisions, and companies are slowly starting to realize this.

Artificial Inteligence 200

Artificial Inteligence America Software Review Technical Review 200

Startup Professionals Musings

MARCH 4, 2016

Forecast revenue growth that defies business principles. Every business takes time to scale and penetrate a market due to organizational growth, hiring, training, brand building and customer adoption. Hire helpers in lieu of people who are smarter than you. Hire people who can train you rather than ones you need to train.

Intellectual Property 120

Intellectual Property Startup Forecast Angel Investor 120

Startup Professionals Musings

AUGUST 2, 2019

Assess: Forecast required skillsets and needed mindset shifts. Pinpoint helping and hindering behaviors related to health priority areas, such as hiring and training. Objectively audit your business health for weaknesses and strengths in resources, leadership, skills, and experience.

Technical Review 226

Technical Review Leadership Portfolio Matching 226

Steve Blank

SEPTEMBER 5, 2018

He just hired Meg Whitman. Startups wrote business plans, generated expansive 5-year forecasts and executed (hired, spent and built) to the plan. Jeff Katzenberg has a great track record – head of the studio at Paramount, chairman of Disney Studios, co-founder of DreamWorks and now chairman of NewTV.

Lean 335

Lean Burn Rate Startup IPO 335

YoungUpstarts

NOVEMBER 27, 2012

If you are not in a position to hire more personnel to manage different areas of your operations then it’s likely you’re still the wearer of various hats within the business – meaning you need a streamlined system that makes business operations as easy as possible, takes minimal time for you to manage and effortlessly keeps you in control.

Software Review 187

Software Review New Zealand Stock Database 187

The Startup Magazine

OCTOBER 19, 2020

These days, instead of hiring an MBA from a big university, companies need Data Scientists. Nearly Accurate Forecasts: One of the most significant advantages of data-driven decision making and planning is getting more credible forecasts. In the last decade, data has proved to be a game-changer for many corporations.

Technical Review 158

Technical Review Forecast Analytics Social Media 158

Up and Running

APRIL 9, 2020

Whether you’re thinking about hiring, making a major purchase, or you simply want to keep your business healthy, regularly reviewing your cash flow statement (along with your balance sheet and income statement/profit and loss) can help you make spending decisions with confidence. How to forecast and manage your cash flow.

Balance Sheet 147

Balance Sheet Forecast CPA Software Review 147

Both Sides of the Table

JANUARY 22, 2014

I’ve been involved with SaaS companies with VCs who don’t understand demand generation, lead qualification, sales coverage ratios, sales forecasting or frankly when deals should be inside sales vs. outside sales. It felt like there was a wavelength with management and somebody wasn’t on it. Commitment. Startups are hard.

Portfolio 364

Portfolio Chicago Sales Incubator 364

VC Cafe

JULY 21, 2022

The global games and services market is forecast to reach $188 billion in 2022, a 1.2% forecasted decline year on year according to research from Ampere Analysis after two years of massive growth. In addition, several gaming companies announced layoffs, including Unity and Niantic and many others froze hiring.

Forecast 190

Forecast IP Mobile Acquisition 190

The Startup Magazine

APRIL 25, 2023

Here are a few ways to align workforce planning with financial objectives: Conduct regular analyses of the costs: these costs are associated with hiring, training, and retaining employees. For example, HR can work with Finance to evaluate the cost-effectiveness of different hiring strategies.

Finance 158

Finance Retention Forecast Employee 158

YoungUpstarts

JUNE 12, 2017

Take measures to ensure new hires are aligned with your culture and committed to embodying your values. To avoid costly mistakes when vetting potential in-house hires or external vendors, consider these four tips: 1. Still not sure about a potential hire? Get a second opinion. Engage references. Take it slowly.

Finance 159

Finance Cost Hiring Reputation 159

Startup Professionals Musings

FEBRUARY 17, 2018

Trying to save money by recruiting family members, or hiring only interns, is a bad risk. Don’t rely on conservative forecasts to reduce risk. Investors don’t fund conservative forecasts, nor wildly optimistic ones, since both imply a lack of commitment or homework. Recruit the best team members and provide incentives.

Forecast 161

Forecast Stock Options Technical Review Metrics 161

YoungUpstarts

APRIL 24, 2017

As a marketing idea, it worked as well as you had forecast. The solution is to hire a debt collection agency to take care of it, and move on to catching up with your good clients who do pay without a problem. Your business is experiencing negative cash flow. Unfortunately, as a financial idea, it created a negative cash flow situation.

Forecast 138

Forecast Web Development Hiring Business Model 138

Up and Running

SEPTEMBER 29, 2022

Diving into the financials, dealing with vendors, the hiring process, or a variety of other tasks—no one is passionate about every facet of business operations. With this information, you can forecast the viability and profitability of the business. Once you have actual financial data just update your forecasts.

Forecast 154

Forecast Software Review Bootstrapping Finance 154

YoungUpstarts

MAY 8, 2014

Refusing to hire people who are smarter than you. Of course I shouldn’t hire people who are smarter than me , you might think. The best advice I got when I became the CEO of RME was to hire people who were better and smarter than I was. The best news is, getting personal doesn’t have to be time consuming or expensive.

Technical Review 254

Technical Review Entrepreneur Florida Cofounder 254

The Startup Magazine

MAY 7, 2024

Planning For The Future Forecasting is crucial in small businesses’ strategic tax planning and financial stability. Hiring a tax professional becomes imperative when your business’s tax situation is complex, involves multiple states, or involves strategic tax planning to maximize savings and compliance.

Small Business 157

Small Business Software Review Technical Review Limited Liability Company 157

Up and Running

MAY 1, 2014

Use this chapter to describe your current team and who you need to hire. Your business plan isn’t complete without a financial forecast. Business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. Sales Forecast.

Business Plan 163

Business Plan Forecast Balance Sheet Distribution 163

Up and Running

AUGUST 24, 2020

Cutting costs , revisiting forecasts , and stabilizing your business. Driven by job cuts and budget reductions urging businesses to hire more freelancers , online freelancing platforms will enable companies to tap into expanded pools of global talent and hire qualified workers. The first stage in this crisis was survival.

Technical Review 131

Technical Review Analytics Forecast Artificial Inteligence 131

The Startup Magazine

JANUARY 27, 2022

Financial planning, forecasting, and budgeting are all necessary components of financial analysis, and understanding these aspects can give you a better overview of the state of your business. Once your startup begins to grow, you might want to hire a professional with more experience in finances to focus on this part of your business.

Startup 150

Startup Web Development Australia Forecast 150