Steve Blank

APRIL 1, 2020

Your revenue plans are no longer valid. What’s your monthly cash burn at your new low revenue level? The CEO should dial through as many of the largest existing customers to get a firsthand understanding of the magnitude of any revenue shortfall. How can you shift focus to customer retention versus acquisition?

South Korea 334

South Korea Salary Business Model China 334

ConversionXL

JUNE 5, 2014

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 105

Retention Customer Developer Programming 105

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. To Whom Can You Outsource HR Tasks? HR Outsourcing Has 5 Key Advantages.

United States 158

United States Salary UAE Hiring 158

ConversionXL

JUNE 5, 2014

Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%.

Retention 98

Retention Customer Developer Programming 98

Startup Lessons Learned

SEPTEMBER 22, 2008

is an elegant way to model any service-oriented business: Acquisition Activation Retention Referral Revenue We used a very similar scheme at IMVU, although we werent lucky enough to have started with this framework, and so had to derive a lot of it ourselves via trial and error. The AARRR model (hence pirates, get it?)

San Francisco 167

San Francisco CPA SEM CTO Hire 167

YoungUpstarts

JANUARY 10, 2021

What would your business look like if you were able to increase your retention rates by 10 or 15 percent? By cultivating loyalty, you ultimately increase profitability and revenue. Stop viewing customer service as something that’s nice to have and make it a priority by hiring talented people who embody your brand’s principles.

Customer 207

Customer Retention Software Review .Net 207

The Next Web

JANUARY 25, 2014

Without a doubt, revenue is essential for a tech company, even more so for small developers. It becomes clear that in order to make that leap to the next stage, the developer must focus on user retention. With so much competition in the popular app stores, the key is improving engagement levels to ensure retention and promotion.

Technical Review 137

Technical Review Retention Startup Technical Support 137

VC Cafe

JULY 26, 2020

In a capital scarce environment following the Dot Com crash, startups needed to do more with less and survive long enough to generate revenue. The fundamentals (unit economics/ margins, CAC>LTV, the importance of retention) are more important now. ” The Lean Startup movement started out of necessity.

Lean 214

Lean Seed Capital Startup Burn Rate 214

YoungUpstarts

AUGUST 11, 2014

Under the accrual method, a company records revenue when the transaction is completed, not when it receives the proceeds. If you business is selected for audit and a revenue agent reviews your bank records, then any cash deposits will be considered income. Expenses are similarly handled. Make expense records mobile.

Software Review 187

Software Review Technical Review Retention Small Business 187

Both Sides of the Table

APRIL 26, 2016

In SaaS (or any recurring revenue business) this is also a very difficult task. One big, beginners mistake people make in LTV is to measure revenue. If your economic case is built on increasing LTV over time or on retaining recurring revenue streams please remember to layer on “re-marketing or retention” costs into your equation.

Metrics 150

Metrics Cost Acquisition Startup 150

Austin Startup

SEPTEMBER 2, 2021

It’s that time of year when Startup CEOs are building their 2022 Revenue Plan. On the flip side, if sales productivity begins to fall or customer retention dips, they feel the impact before it hits the company’s financial statements. is scaling, your management team will need to devote significant time hiring and training new hires.

Revenue 72

Revenue Retention Forecast Sales 72

ReadWriteStart

JUNE 8, 2021

After launching a new startup, you’ll be interested in growing the business as quickly as possible, thus generating more revenue, securing more stability, and improving your reputation as well. You’ll need to think about employee retention. But many of the strategies that boost employee productivity will also boost retention by proxy.

Employee 127

Employee Product Startup Software Review 127

Duct Tape Marketing

AUGUST 30, 2024

So if growth is a business objective, if dominance in a market is a business objective if retention of clients is a business objective, then the marketing strategy is built around that and only that to begin with. Did you know 80% of a company's revenue comes from just 20% of its existing customers?

Marketing 91

Marketing Retention Algorithm Advertising 91

The Startup Magazine

JUNE 4, 2024

Revenue Growth: Achieve a 25% increase in annual revenue by entering new markets and boosting sales efforts. Budgeting: Create a detailed budget that outlines expected revenues and expenses. Diversify Income Streams: Explore new revenue streams to reduce dependency on a single source.

Technical Review 146

Technical Review Agile Audience Employee 146

ReadWriteStart

MARCH 8, 2021

They want to open new offices, generate more revenue, and ultimately, secure higher profitability. . You can hire more salespeople and practice social selling. . And the revenue from your existing customers alone may not be enough to cut it. . You could invest in marketing and advertising. You could work to get more PR exposure.

Startup 127

Startup Retention Acquisition Agile 127

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 17, 2011

You sign up customers faster than your ability to hire quality people, so either existing people are stretched thin or you make the more fatal error of lowering standards to fill chairs. “LTV” means “the total revenue you’ll get from a customer over its lifetime.” So total expected revenue is $RN/ p.

Business Model 245

Business Model Metrics Engineer Technical Review 245

ReadWriteStart

FEBRUARY 1, 2012

Our plan is to have seven figure revenues and be profitable by Q3, in addition to to seven new hires by end of the year," he says. Anthony Favazza, CEO of DiningCircle has hired a CTO that will be overseeing a rebuild of our product in early 2012. "We They also signed Global eTelecom as a customer, one of U.S.'

St. Louis 118

St. Louis CTO Hire Fractional CTO Entrepreneur 118

Both Sides of the Table

MAY 5, 2011

Your highest priority right now is hiring the 1 or 2 people that are going to join your company and make a difference. When you account for competition for talent, the difficulty of retention, the cost of living and the difficulty of rising above the noise – there are many advantages of staying put.

Seattle 317

Seattle Silicon Valley Technical Review Los Angeles 317

SoCal CTO

OCTOBER 5, 2010

10 Tips for Adding Game Mechanics to a Non-Gaming Service - ReadWriteStart , September 21, 2010 Game mechanics have become a popular way of increasing user engagement and pushing user adoption, referral and retention, and many startups have sought ways to incorporate game mechanics into their sites. Why You Should Write. Status / reputation.

Technology 191

Technology Product San Francisco CTO Hire 191

ConversionXL

JULY 21, 2022

How did Outreach grow in just a few years to 50,000 monthly active users , $10 million in new bookings, and net revenue retention (NRR) of more than 140%? Apply these lessons to align your teams and drive revenue growth. NSM must: Lead to revenue; Reflect customer value; Measure progress. Defaulting to revenue.

Metrics 120

Metrics Acquisition Revenue .Net 120

YoungUpstarts

OCTOBER 10, 2012

SAS Canada “customer champions” helped the firm restore declining customer retention rates—which had fallen as low as the mid-80s percent — back to the firm’s traditional high retention rates of 97-98 percent. And engaging customers in such ways is generally much less expensive than hiring costly employees or agencies.

Customer 154

Customer Fractional CTO Canada Technical Review 154

VC Cafe

JULY 21, 2022

NPD reported on Friday that consumers spent 10% less in the first six months of 2022 than they did during the same time period last year, with game industry revenue down to $26.3 While mobile game revenue was down 6.6% In addition, several gaming companies announced layoffs, including Unity and Niantic and many others froze hiring.

Forecast 190

Forecast IP Mobile Acquisition 190

ReadWriteStart

NOVEMBER 20, 2023

Prioritise Employee Training “Offering opportunities for training and development can aid in workforce retention, lower turnover costs, and boost overall productivity.” Productivity Gains: A well-trained workforce is more productive and efficient, leading to increased output and revenue generation.

Software Review 138

Software Review Technical Review Retention Cost 138

Steve Blank

APRIL 4, 2011

We were impressed when we found that they did the in-person interviews by hiring usertesting.com for $39 to set up test scenarios, gave the users specific tasks to accomplish with their minimum viable product, videotaped the customer interactions and summarized customer likes and dislikes.)

Customer 241

Customer Business Model Nebraska Cloud 241

Hearpreneur

DECEMBER 14, 2022

It could be more revenue, hiring clients, or launching a new product or service, but every new year is an exciting time because it’s ripe with opportunity. 4- Better customer (and employee) retention. In 2023 I’ll be focusing on improving retention with our existing audience to maximize value on both ends of the relationship.

Entrepreneur 126

Entrepreneur Retention SEO Employee 126

YoungUpstarts

FEBRUARY 13, 2019

by Robbie Kellman Baxter, author of “ The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue “ Everyone knows that retention is crucial for subscription-based companies. Blue Apron is hardly alone with its churn problem.

Customer 173

Customer Technical Review Retention Acquisition 173

ConversionXL

APRIL 3, 2018

Amazon has hired more people for their Alexa division than Google has for the entire company – it’s not hunch, this is going to be the focus. Hire & fire – tools to do a job. mobile is ~50% of revenue, shorter form works better. Retention is the most important thing – if that’s poor, nothing else matters.

Retention 106

Retention Artificial Inteligence Channel Email 106

Startup Lessons Learned

APRIL 14, 2009

Lessons Learned by Eric Ries Tuesday, April 14, 2009 Validated learning about customers Would you rather have $30,000 or $1 million in revenues for your startup? All things being equal, of course, you’d rather have more revenue rather than less. And yet revenue alone is not a sufficient goal. More on that in a moment.

Customer 167

Customer San Francisco Lean Hockey Stick 167

Hearpreneur

DECEMBER 28, 2022

We are also investing more in our team by hiring additional staff and providing more training and development opportunities. My business will be pivoting to provide more in-person support to clients by hiring a team of remote assistance specialists. 20- Client retention. 22- Customer retention. Photo Credit: Kader Meroni.

Social Media 127

Social Media Entrepreneur Retention Finance 127

Duct Tape Marketing

SEPTEMBER 14, 2024

Creating a positive employee experience is essential for retention. We had 600 employees and doing about 150 million in revenue when I finally sold all the businesses a couple of years ago. But as you start hiring people and building a team, now the business' success depends on how well teams execute. It was quite a fun ride.

Wisconsin 90

Wisconsin Cofounder Leadership Employee 90

The Startup Magazine

JANUARY 17, 2021

Consider hiring professionals with an online masters degree in business administration , so they can utilize their business analytics skills for tracking these milestones. While measuring the sales revenue, it might take time to figure out those marketing parts that yield sales. CUSTOMER RETENTION RATE . SALES GROWTH.

.Net 115

.Net Metrics Retention Revenue 115

VC Cafe

SEPTEMBER 26, 2022

So in terms of hiring, get people that can help you build the product faster… anything that minimizes the time between observing a need or a problem, and the execution or the fix for it.” A founder should know (more or less) what milestones she can achieve with the current round (in terms of product, revenue, etc). What matters most?

Founder 187

Founder Startup Valuation Pre-Money Valuation 187

Up and Running

JULY 2, 2018

As a business owner, it’s important to monitor the health of your growing company to spot warning signs—a fractured team, negative customer reviews, poor customer retention, and a lack of creative innovation. Hiring is a minefield for startups, but with the right approach, you can recruit top talent. Poor customer retention.

Software Review 78

Software Review Technical Review Retention Startup 78

A Smart Bear: Startups and Marketing for Geeks

FEBRUARY 26, 2019

Instead, watch payback period for acquisition efficiency, watch retention for product/market fit, watch expansion revenue for long-term growth, and watch gross margin for long-term profitability. The “boring” but established, large market is where revenue is easy and competition is old, slow, and has something to lose.

Restful 202

Restful Founder Revenue Acquisition 202

YoungUpstarts

OCTOBER 14, 2019

The quality of data a company can access determines their customer experiences, analytics, insights, retention, and revenue. Why would employees who were hired for specific skill sets want to spend their day sifting through data? This determines a company’s long-term success. What Defines Data Quality. Organizational Mistrust.

Software Review 162

Software Review Forecast Database Retention 162

YoungUpstarts

SEPTEMBER 1, 2015

Generating revenue through sales, especially as start-up capital diminishes, can make or break a company’s success. However, hiring the wrong salespeople costs dearly in time and treasure. Before hiring can commence, clearly defining the structure of the sales team is critical. Hire based on sales DNA and not resume.

Sales 100

Sales Cofounder Sales Cycle Revenue 100

Hearpreneur

JANUARY 1, 2023

As I've taken the time to invest in companies and programs that can manage various facets of my business on my behalf, I've been able to increase my revenue and provide better financial insulation for my firm to help it withstand the negative effects of a recession. This will keep them sustainable should revenues take a dive.

Entrepreneur 122

Entrepreneur Software Review Technical Review Revenue 122