Books: Lean Analytics: Use Data to Build a Better Startup Faster by Alistair Croll and Benjamin Yoskovitz Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs by John Doerr Smart Business Metrics: Measure What Really Counts & Manage What Makes the Difference by Bob Phelps Articles: “5 Performance Metrics …
Some people (myself included, sometimes) use what some may call the checking account methodology. You open up the checkbook: if your cash has grown, you won; if it’s decreased, you lost. While there is some measure of success in cash, this is far too simplified a process to really get a good basis for what …
“It’s a common misconception that money is every entrepreneur’s metric for success. It’s not, and nor should it be.” ― Richard Branson “What’s measured improves.” ― Peter Drucker “If you don’t collect any metrics, you’re flying blind. If you collect and focus on too many, they may be obstructing your field of view.” ― Scott …
Books: High Growth Handbook by Elad Gil Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs by John Doerr Scaling Up: How a Few Companies Make It … and Why the Rest Don’t by Verne Harnish Articles: “Telling the Right Story With Numbers: Nailing Unit Economics” from Crunchbase News …
If something’s easy, everyone will do it. Entrepreneurial risk involves finding something that the market has yet to figure out, so in any new market, unit economics are tough. You don’t know what you don’t know. However, figuring it out is key.
“It’s not what you earn, it’s what you spend.” ― Paul Clitheroe Ultimately, every organization – even a non-profit – needs to reach a level of sustainability that makes it work from a financial perspective. If you’ve hit and found your market, reaching that level of sustainability is much easier. Unit economics are fundamentally important …
Articles: “12 Steps to Create Revenue Projections for Any Startup” from Projection Hub “Effective Financial Projections for a Startup” from the Journal of Accountancy “How to Forecast Revenue and Growth” in Entrepreneur magazine
When it comes to revenue forecasts, you are almost always better off being conservative, hitting your numbers, and looking like a winner. However, being too conservative does have its issues. You may not have the resources in place to service the new revenue; raising capital to expand to meet new customers may take longer; and …
“If you can look into the seeds of time, and say which grain will grow and which will not, speak then unto me.” ― William Shakespeare, Macbeth “We have two classes of forecasters: Those who don’t know — and those who don’t know they don’t know.” ― John Kenneth Galbraith It may be a dollar …
