Don't Give Up Early
Every second counts. It’s never too late to start something. And don't stop racing until you cross the finish line.
One caveat, nothing in life is overnight. Nothing moves from one state to the next in an instant. We can make small consistent actions to realize big changes. It takes time. Nobody became an Olympic athlete overnight. Nobody changed the world overnight. The stick-to-it-ness over time is what turns a routine into a habit, a habit into a way of life, a life that moves you towards realizing your aspirations. And don’t get me wrong, making something a routine doesn't happen overnight either. You just keep getting better at sticking to it, with repetition and intent.
Documenting is important. But by placing focus on the document to move forward, the onus is on the document versus on the individuals to act. Waiting for a document to be created stalls decision-making and moving forward on execution. You lose time, and a start-up’s success is especially sensitive to time lags.
So don’t feel you need a perfect document before you can move forward. Start one step at a time, with a four-step process (thinking -> discussing -> deciding -> tracking) and a pressing need to execute.
No matter what, you want a place where even when they see you raw, naked and not at your best your BoA is there to support you and are able to provide the insight and expertise you need. Support because of the relationship you’ve built with them; insight & expertise based on the strategic needs of the company.
If I’d received a mirror in my swag I wouldn’t be too happy. Just like I wouldn’t be too happy if I got a bra in my swag.
Stories and lessons learned from Centre4Growth clients who have worked in programs in Silicon Valley.
Understanding your cash flow is critical to understanding the 'fiscal health' of your company, yet many CEOs and business owners of pre-revenue and post-revenue companies miscalculate their cash flow.
Read these three simple steps to stay on top of cash flow.
Upselling is a means to increase revenue/client per billing cycle. The cost of acquiring a client is never reimbursed. If you decrease cost of acquisition, increase revenue/client per billing cycle and increase the number of billing cycles per client, you greatly increase profits. Moreover, upselling is integral to increasing profits because it generates greater revenue from less effort.
Sandra Wear: “When you’re trying to get investment financing, it’s like a sale. You need to understand where you want to go long-term, how much money you’ll need over what time — and who’s a match for that. You have to know what the investor needs from you.”
Use these three steps to get customers to look beyond price to see the value your company truly offers.
Why it's important to know everything about who is paying you directly for your product as well as who is using your product.
Doing what you say you're going to do makes a good leader, a good sales person, a good marketer, a good business person, a good team member, etc.
It’s not the big things that make the difference it’s all the little things added up. And it’s the little things that lead to bigger things.
Differentiating between the responsibilities of ownership versus management is not just good business practice, it’s fundamental for any business wanting to grow and planning a future exit.
The connection between your customer and your business valuation and how your customer can provide information about how your products are: used; perceived; and provide value.
If you overlook the necessity of Marketing to sell or underestimate the value of the Marketing-Sales relationship to revenue, then your margins and your business valuation will suffer.
How change is disruptive, NOT destructive, and productive & why it should be part of your corporate culture.
RIM has failed to keep up to market changes and primary competitors Apple and Google. What happened? How did RIM go from being way ahead of the curve to trying to catch-up?
Play like champions, lose like winners. When the game is over, start preparing for the next one.
An exit transaction requires a plan & growth. High-tech startups hone the skills required for growing a business’ value along with those for defining strategies to enable a future exit transaction to be realized.
Not having an exit plan typically means that some key aspects about getting to an exit haven’t been considered. Namely two factors: i) what's required for an exit transaction to occur; ii) when the exit transaction needs to happen.