Lean startups and methodology for product development and business operation.
All of these things help to shift and sharpen how you are perceived in the market, which will ultimately help position you to great advantage as we emerge from this time. Your existing customers will keep you alive as a company and ensure your success during times of crisis. Read More: openviewpartners.com
Having a business plan helps business owners secure outside funding, maintain a strategic focus, and track milestones. Having a lean business plan has the added benefits of being easily updatable, saves time, and helps you grow faster. Read More: thomasnet.com
FOUNDERS, EXTEND YOUR CASH RUNWAY BY TAKING THESE STEPS RIGHT NOW: These are important to your employees’ larger feelings of safety and are something for which your employees count on you. Some founders are even offering salary-for-equity swaps where employees can agree to a decrease in salary in exchange for equity in the business. Read More: openviewpartners.com
Investments in young companies have fallen, with 2,215 start-ups raising money in the United States in the last three months of 2019, the fewest since late 2016, according to the National Venture Capital Association and PitchBook, which track start-ups. SoftBank bet big on companies like Uber and WeWork, as well as the Colombian delivery start-up Rappi and the Indian hospitality start-up Oyo. Read More: nytimes.com
More than 500 companies participated in the 2019 Expansion SaaS Benchmarks survey, ranging from pre-revenue to $150M+ ARR publicly traded SaaS companies. In reality, very few public SaaS companies support their growth with high burn – in fact just 7 public SaaS companies will generate substantial negative profit margins this year. Read More: openviewpartners.com
23 RULES TO RUN A SOFTWARE STARTUP WITH MINIMUM HASSLE: Over the last 5 years of bootstrapping, I’ve tried a lot of things, and discovered there are many ways to create hassle for yourself that wastes time and energy and distracts you from building value in your business. As a startup founder and leader of your team, you need to manage your own and your team’s time and priorities yourself, based on what’s the most reasonable next investment at any given time. Read More: joisig.com
There’s a growing movement, especially in the bootstrapped startup community, that feels we’ve put too much emphasis on ideas and products. There’s a valid argument to be made that the only true way to find a good startup idea is to get lucky. Read More: www.andrewaskins.com
The fourth lesson Wysopal shares may be the most important advice he can offer startup founders. Encouraging your employees to become lifelong learners will increase employee satisfaction, but it will also keep your startup agile as it grows and adapts to seemingly continuous disruption. Read More: www.devprojournal.com
Don’t just give up on an idea because it lacks the technology or is way ahead of its time. If you can’t seem to find five users that find your idea interesting, it’s time to reconsider the idea. Read More: appinventiv.com
Looking back at all of this got us curious: How much is the average Shark Tank deal? Are certain entrepreneurs more likely to make deals than others? What types of products are the most successful historically? Which sharks throw down the largest sums of money, and what do they invest in?. A look at the highest and lowest valuations in Shark Tank history shows that from this point onward, deals began to skyrocket in size – and the overwhelming majority of the show’s biggest deals went to male entrepreneurs. Read More: thehustle.co