What’s your churn?
If you don’t know this number, get it.
Better yet, do you know why they’re churning?
When I was building my company Flowtown, we had a 12% monthly churn.
Not good.
That meant that after only 8.3 months we had lost ALL of the customers we had worked so hard to attract & convert?
Just so you know, that makes for a HORRIBLE business.
Your goal should be 8% PER YEAR (for B2B SaaS)!
So if you’re bleeding customers, what do you do? Read More
How much value did you create today? What about yesterday?
Want to know the best way to score yourself?
You need to learn the Entrepreneurial Scorecard (all credit goes to Todd Herman, creator of the 90 Day Year).
This framework is the only one I’ve found that allows founders to self evaluate their daily activities and accurately measure how those tasks measure up with your business’s growth.
Warning: Read More
If you think “sales” is a dirty word, then you’re going to hate today’s video.
But if you believe that it’s not just your right, but your flat out responsibility to share your product / service / program with as many people who can benefit from it as possible…
… then read this carefully.
Implementing this strategy could be the main difference maker between mediocre (but unenviable) success…
… and building a rockstar company that customers line up to buy from (and Silicon Valley suitors line up to invest in)
The dirty secret? Read More
Have you ever felt stupid?
I have.
For pretty much my entire teenage existence I felt like I didn’t understand the world around me.
When I got into business at 17 it was no different.
I’d watch these “businessmen” talk and I had no clue what they were saying….
… but over time I decided to learn.
I put in the time to study books on marketing, finance, leadership, design, etc..
After a while, I could understand what they were saying and actually challenge some of their views.
Once you learn business, it’s really not that complicated.
It comes down to 5 core elements that need to be understood. Read More
Are you a SaaS entrepreneur?
If not, probably best to skip this blog…
… but don’t worry, next week I’m going to share a killer strategy on how ANY business owner can grow their company by “drafting” on other people’s hard work.
Simple strategy, but powerful results.
However, if you ARE a SaaS entrepreneur, then let’s talk numbers.
Every day I get someone asking:
“What are the key metrics I should be monitoring in my startup?”
Even though it’s a loaded question, when it really comes down to it… Read More
Do you have a friend who does CrossFit?
Is that all they ever talk about?
Gets annoying right?
One of my best friends, Marty, is that guy.
We always joke that at least he’s not a vegan too 🙂
That being said, I owe everything I’m about to share to Marty.
About a year ago, after his persistence, I finally gave CrossFit another try.
This time it stuck.
Now I’m “that guy” and I literally don’t give a fuck.
Why?
Because it’s not about CrossFit. Read More
When I first moved to San Francisco I spent the first year immersed in startup marketing. I believed that regardless of the company I eventually started, that as long as I understood marketing I would be widely successful.
Man was I wrong.
A few months ago I had lunch with my cousin who runs a property management company. He started telling me that he was having a hard time growing his business. So I asked him a few questions. I realized his challenge wasn’t in sales, it was that he didn’t understand his market or the “unit economics” of a customer. In the technology world – my world – we consider this the holy grail of measurement: How much revenue do you make from a new customer and what did it cost to get that customer?
So I walked him through a simple exercise that I’ve done with hundreds of entrepreneurs. Here’s how it works… first question:
As a startup advisor and angel investor, one of the first things I try and teach every entrepreneur, is the importance of keeping advisors and investors in the loop. With that in mind, I’ve created an email template that you should consider using.
Benefits of sending update emails
Best format and frequency
Other Tips
COPY/PASTE
===================================
+ Top 3 Challenges
+ Metrics
+ Whats New / In The News
===================================
> Top 3 Challenges
1. Getting Press
2. Hiring Biz Dev
3. Building Sales Team
> Metrics
1. Revenue / Target
2. Return Usage / Retention
> Whats New / In The News
1. [Source] – [Title] [Shortend URL]
2. Hired Rails Programmer (@username)
3. New Customer – Fortune 500 company
===================================
Subscribe to my FREE weekly newsletter and receive instant access to my 3 most important videos that will teach you how to get more customers.
