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There has been a lot of public debate over the past several weeks about whether it’s a good thing to be “gross margin positive” or not and commentary always reminds me that some people at startups don’t quite understand financial metrics or even how to think about which ones are healthy. So here are some more details ….
And then in the late 90’s money crept in, swept in to town by public markets, instant wealth and an absurd sky-rocketing of valuations based on no reasonable metrics. It was a way to make it hard for your competition to compete. We wanted new things to exist and to solve new problems and to see our creations come to life.
Then, I Review existing materials Business Plan Marketing Plan Marketing Materials Product Plan / Roadmap Current and Projected Financials Business Pipeline Team Member Bios / Resumes Current Metrics Roadmap Normally there are crude documents for each of these areas that can be quickly read / scanned.
In this article, we’ll share key brand tracking metrics and methods for how to measure and optimize your success. Key brand tracking metrics. Supplement brand loyalty metrics with qualitative measures such as brand associations and perceived quality, as these can give you insight into why customers intend to repurchase.
He calls this competing with “non consumption” It was the most profound business strategy book I had read and greatly influenced how I thought about company building and certainly how I think about investing. The team has stated it and has built metrics around key goals for future success.
One theme that I always get is, “I’ve gotten an offer from a VC, but they want me to do X, what do you think?&# X is always something non-standard that the entrepreneur knows in his gut isn’t right. In these many exchanges similar questions crop up. Trust your instincts – they will serve you well as an entrepreneur.
They compete on features, price and execution. In an over-funding environment companies are encouraged to eschew revenues in a land grab to acquire eyeballs, clicks, page views or whatever other vanity metrics give VCs the false comfort that they’re sitting on a gold mine.
Tech IPO prices exploded and subsequent trading prices rose to dizzying heights as the stock prices became disconnected from the traditional metrics of revenue and profits. After the crash, venture capital was scarce to non-existent. Some have labeled this period as irrational exuberance. The Rise of the Lean Startup.
Some are strategic peers, some are near peers in specific areas, some are threats as non-state disrupters operating with no rules. In most industries, manufacturing is no longer a core competence of the U.S. Problem 3: Risk equals failure and failure is to be avoided as it indicates a lack of competence.
We have well financed competitors whom despite competing with we respect deeply and when you see your competition launching in many markets it’s tempting to follow suit. These are the hard problems we’ll have to address in the year ahead along with the perennial, “ When should we raise more money?
From there, I became the first non-founder employee at an e-commerce startup called BITSource, which was the first electronic software distributor delivering electronic volume software licenses to corporations. I'm working quite a bit with startups who are leveraging social media, but I'm finding it hard to predict success and metrics.
Lessons Learned by Eric Ries Tuesday, March 24, 2009 The metrics and levers of engagement, presentation on Engagement Loops for Facebook Developer Garage SF Ill be presenting a talk at the Facebook Developer Garage SF Wednesday evening. Unfortunately, its easy to lose track of positioning effects when optimizing for a single metric.
A CPA provides input on tax structure and metrics, and assists with due diligence related to your industry. In a nightmare scenario, an employee can start up a competing company, and leave with customers, employees and intellectual property, demolishing everything you’ve worked hard to build. Must you wear both simultaneously?
A strong employer brand helps organisations compete for the best talent, retain good staff, and establish credibility in their specific field of expertise. Other non-human factors that can damage an employer brand include inconsistent brand image, breaking brand promises and even something as simple as a badly designed website.
I love the enthusiasm, the boundless energy and the sense of possibility that comes from having an idea that hasn’t yet been beat up in the marketplace of competing ideas, customer contracts, VC skepticism, jaded journalists or fickle consumers who are on the The New, New Thing. The full financial details and metrics were in the deck.
Measure your agility by putting metrics on change. Create a non-online memorable customer experience. Find your niche, and it’s probably not competing on price and volume alone. People must be measured in performance reviews against industry best practices, rather than previous results in your business.
In this case study on Moz.com by Conversion Rate Experts , the first phase of their conversion strategy was to interview paying, non-paying, and former customers about how they felt about the product. That was the metric that really told us we needed to start over.” “We couldn’t even get our friends to use it.
His book Toyota Production System: Beyond Large-Scale Production is a fascinating read, even though its decidedly non-practical. Hes a new employee, and he was not properly trained in TDD So far, this isnt much different from the kind of analysis any competent operations team would conduct for a site outage.
Why us”/ “Team Slide” unclear or non-existent. What most improved your primary metric? Most of these can sound like common sense, but you’d be surprised how many founders skip this initial research. What would make an investor more interested in your pitch deck. In our 4Ts model, (Team, TAM, Timing, Tech) the Team comes first.
Many of the startups I talk to - and their boards - seem to equate ability to "hit the schedule" with competence and productivity. Even worse, and unlike their established counterparts, startups often experience a non-quantifiable cost of delay. Does this sound familiar? Startup Lessons Learned - the Conference (April 23.
More specifically, you asked the hard questions, like: How can ecommerce companies compete with Alexa? Voice search will make some companies less competitive, like non-Amazon sellers of commodity goods. For many ecommerce companies, however, competing in voice search on Google is secondary to competing with Amazon Alexa.
I'll do at least five or so brand-related queries ("credit karma reviews"), and at least ten to fifteen non-brand/long tail queries ("free credit scores," "best credit score website," "credit score reporting scams," etc.). Here I particularly like to look at a metric I call "share of search."
Each of these tools will display metrics in a different way. Indexability: This shows where a URL is indexable or non-indexable. Indexability status: The reason why a URL is non-indexable. In such cases, you’re making pages compete against each other for ranking and clicks, thus diluting their potential.
Competing with such companies is pure pleasure – just harp on their mis-understandings of the market. Non-linearity is approaching. Non-linearity is the constant. Non-linearity is the change that you must be ready for. There are no verticals, there are industries and markets.
Its different from selling a product, because it is not part of our regular business practice, is not something that relates to our core competence, and tends not to happen in a repeatable and scalable way. Ill exclude those non- lean startups who basically exist for the purpose of raising bigger and bigger sums of money.
Every board meeting, the metrics of success change. This approach is fundamentally non-scalable. This is why companies often get out-competed by former employees (Palm vs Handspring to name just one), even though the upstart lacks all of the familiar resources, tools, processes, and support they used to have.
The strategy, for me, was two fold: Go figure out what sources of data, web and non-web, were needed to make decisions. For a person such as myself who came from the traditional Data Warehouse and Business Intelligence worlds that was a non-trivial mental model transformation. Two New, Interesting & Non-Obvious Tools.
That means: All of these metrics are off. This is exactly why the Page Value metric (in the past called $index value) was created. I'm imploring the Google Analytics team to make this metric available in custom reports where it would be multiple times more helpful. Pick metrics that matter. Hopefully soon!
One of my favourite implementations of Treemaps is in the competitive intelligence tool Compete. You can hover over each box to get a sense of the key metrics. You've see the application of content consumption and keyword analysis using the Sunburst above, and the use of Treemaps by Compete. I used infogr.am
It’s why Canva can call itself a multibillion-dollar platform and how ConvertKit pulled itself up to compete with goliaths like MailChimp and Campaign Monitor. How to create a growth hacking strategy using the pirate metrics model. Growth hacking is how Slack went from 15,000 to half a million daily users in its first year. Activation.
There are three parts to a good competitive analysis: (1) defining the metrics and identifying the competitors you’re comparing, (2) gathering the data, and (3) the analysis. Mexican fast-food giant Chipotle has made serving non-GMO foods a key element of their brand promise. Start by defining what metrics are important.
In our example, it’s 20K non-paying customers. It’s critical to understand the metrics in terms of dollars per additional user, as you’ll have to spend this amount to serve thousands of your non-paying customers. Your non-paying customers don’t value the product as much as paying users do. How is your startup funded?
No longer can tools or "analysts" just puke 15 metrics on a report and hope to survive. I love the depth of data now available in both tools for free (even if you use just the free part of Compete). All free from Compete. Got a creative use of statistics in your web metrics practice? 2 Learn basic statistics.
One way to verify is to click on Traffic Sources > Campaigns > Clicks tab to see the non-zero impressions from AdWords. But each keyword gets "credit" for other metrics. There are many, many paid tools in the market (like HitWise and Compete and Netsuus). Then you'll see some zeros in the visits column.
Through my non-profit Women Of Integrity Inc., I love knowing that my business empowers lawyers to actually understand how marketing works and how to hold the vendors they work with (and often their own internal employees) accountable for their work in measurable, fair, and metrics-backed ways. 30- The opportunity to compete.
If you want to understand the clickstream data for any website you could go to Compete (here's ESPN's data , or this blog's ). Focus on the obvious, and the non-obvious. When I have to analyze a site I quickly make a note of the two or three objectives of the site (and one of those falls in the non-obvious category).
Credit unions also face such internal risks as internal fraud, regulatory non-compliance, data breaches, legal risks, and liability for injuries of consumers and staff. By following metrics in the industry, your board can reduce your exposures and address risks proactively. Effectively Managing Credit Union Risks.
Credit unions also face such internal risks as internal fraud, regulatory non-compliance, data breaches, legal risks, and liability for injuries to consumers and staff. By following metrics in the industry, your board can reduce your exposures and address risks proactively. . Effectively Managing Credit Union Risks.
Bubble Kings most commonly reside in organizations where there is little to no accountability (or misplaced accountability, ex: celebration of vanity metrics). To poke holes in the data/methodology (regardless of the Rationalizer’s analytical competence). They dilute the analysis with non-facts. To provide context.
This includes other non-competing agencies, as well as software and technology vendors. For example, if SEO is a priority, some metrics you’d want to focus on may include; Organic search traffic; Impressions on the SERPs; SERP click-through-rate; Avg. Examples of these channels include GrowthHackers and Hacker News.
I love that the FTC just banned non-competes, as everyone expected they would. We started off at Return Path years ago with a standard and fairly benign non-compete because they were standard. Customer and employee non-solicits for a year – no problem. But by and large, I say good riddance to non-competes.
Disturbing, because many people & organizations want to compete on analytics, but are not doing the right things or adopting the right thinking about analytics. Here are the highlights: Only 2% of companies are tracking lead generation to sales metrics. 15% of companies don’t track ROI (Return on Investment).
Explain why, hopefully you'll have rules you can apply and check if your Web Metrics are indeed KPI's! Update] Here are two recent posts that dive deeper into the topic of Key Performance Indicators and provide latest thinking (as well as real world examples): ~ Best Web Metrics / KPIs for a Small, Medium or Large Sized Business.
But sometimes going outside our analytics tools can yield non-normal insights that can deliver a competitive advantage. You have two sub-choices to get your Search Click Share metric. Would you believe me if I said that even leveraging cool features like custom reporting and smart advanced segments might be insufficient in some cases?
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