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Startup Day Seattle 2011- Revenue
- 1. Revenue Keeping it Simple & Strategic Tom Seery
- 6. The amount of money that a company actually receives during a specific period
- 9. Repeatable, Scalable Image: rachelleb.com
- 12. The team size of startups that scale prematurely is 3X the consistent startups at the same stage
- 13. Inconsistent startups write 3.4 times more lines of code in the discovery phasestartupgenome.cc.
- 16. every product creates “value” …you end up taking some % of that value back as revenue Andrew Chen
- 17. 1. Create a massive amount of value, and capture a small amount
- 18. 2. Create a moderate amount of value, and totally dominate the economics
- 21. Create a massive amount of value, and capture a small amount
- 25. “Do not chase technology… stay focused on the consumer” Joe Cavaliere, President, Customer Development, Unilever Source
- 26. source
- 27. 5% Clinical 95% EMOTIONAL EMOTION
- 29. Simplicity is the ultimate sophistication Leonardo Da Vinci
- 32. Create a massive amount of value, and capture a small amount
- 33. Some startups in my portfolio have an aversion to revenue Mike Slade
- 34. “Revenue isn’t a light switch. You have to practice making money” --Joe Stump
- 36. Your Startup's Revenue Projections Are Wrong Paul Dawalibi
- 37. What the entrepreneur says: "Our revenue is projected at $25M for next year, because we think this is going to take off in a big way." Source
- 38. What the VC is thinking: "Looks like that number was just pulled out of thin air. This person didn't do their homework. I'm going to tune you out and get back to answering emails on my BlackBerry.” Source
- 41. Image: Ihophop
- 42. If there’s nothing exciting, there’s nothing exciting. Rich Barton
- 45. Income Statement Balance Sheet Cash Flow Statement
- 46. I believe the expenses side of your P&L will develop
- 47. MRR Churn ARPU CAC $X,XXX Months to Cover CAC x
- 50. When you get to my age, you'll measure your success in life by how many of the people you want to have love you actually do love you. That's the ultimate test of how you've lived your life. Warren Buffett
- 51. Hat tip to http://andrewchenblog.com/Getting Real essays
Editor's Notes
- Avoid the consulting trapdistractionscustom dev work for a deal
- 1. Custom shop
- 2. Taking on a consulting project to make payroll…it’s a huge distraction from finding your customer…don’t assume you know who it is from the beginning
- Consultants invoices get aged, often just never get paid…
- 3. Entering into super complex relationships
- 4. Trying to deliver what others are doing with teams 1000 times larger than yours.
- Every startup is searching for model that has scalability and repeatability. You’ve got to nail the product market fit. You need to find a cultural fit with your team
- Good god, don’t break even now
- Andrew chen
- Creating massive value is not about chasing a technology or tech breakthrough. irrelevance
- It's widely believed amongst startup thought leaders, that successful startupssucceed because they are good searchers and failed startups achieve failure byefficiently executing the irrelevant.
- http://www.ericksonmedia.com/blog/radio/566-the-30-second-test.html
- 95 percent of people buy on emotion and justify their purchase logically. You really need to wow someone to get their attention and spend
- IM NOT SAYING THAT REVENUE ISN’T IMPORTANT
- Sometimes capturing it is harder than you ever imagined. Entrepreneurs tend to overly enthusiastic about the time to sales. Most of us have never been responsible for a pipeline. Our sales can take 6 months to close. My original model didn’t even factor this in, or the COGS associated with this…
- he says. “I encourage every startup I advise and invest in to start experimenting with revenue on day one
- YOUR ASSUMPTIONS REALLY MATTER. What will you look like when you’re no longer a startup and a profitable entity
- Don’t I need to show a hockeystick
- It offends your sensibilities. Intellectually dishonest
- Speaks to you as an entrepreneur. Are you a risk taker. Are you thinking big. “your extremely likely to be wrong”
- It’s a reflection of the entrepreneurSource:
- Gets you on the same page with your team
- I believe the expenses side of your P&L projection will develop
- Numbersforstartups.com
- What motivates you?
- Most successful founders are driven by impact rather than experience or money.