CustDev: Customer Development, Startups, Metrics, Business Models
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CustDev: Customer Development, Startups, Metrics, Business Models
What makes startups successful? Case studies and practical information on business model generation and building what customers really need.
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Don't Let Your North Star Metric Deceive You

Don't Let Your North Star Metric Deceive You | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
We’ve all heard the rallying cry of the “One Metric That Matters”.

Choose your north star and focus. Grow 7% week over week. If you grow DAUs,
the rest will follow.

But blindly buying into the concept of the one metric that matters (OMTM)
is a fatal oversimplification.

In a recent essay, Casey Winters, formerly Growth at Pinterest, says:

“The search for one key metric for a complex ecosystem like Pinterest
over-simplifies how the ecosystem works and prevents anyone from
focusing on understanding the different elements of that ecosystem. You
want the opposite to be true. You want everyone focused on
understanding how different elements work together in this ecosystem.
The one key metric can make you think that is not important.”

In this post, we’ll expand on Casey’s points, walking through why focusing
only on your north star metric is a dangerous way to measure the growth of
your business, and how teams should think about setting their metrics
instead.

4 Reasons OMTM is Misleading

Even the name “One Metric That Matters” is problematic. It sends the
message that you only need to focus on one metric to build growth into your
product - this misleads many teams.

There are four key reasons that explain why buying into the one key metric
philosophy can be deadly. Let’s walk through each reason in detail.
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Advertising Copy: 58-Point Guide To Text Ad Anatomy

Advertising Copy: 58-Point Guide To Text Ad Anatomy | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Learn all the ways you can optimize advertising copy. Sometimes you don't get much time or space to really pitch to potential customers, so make sure you ads do it right.
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Why Retention Is The Silent Killer

Why Retention Is The Silent Killer | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Retention - not only does it make companies - but it also quietly breaks
them. For this reason, poor user retention has become the silent startup
killer. In this post, I will walk you through the three key ways that
companies go wrong when it comes to retention:

1. They deprioritize retention altogether

2. They defining their retention metrics incorrectly

3. They don’t measure engagement
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A Half Dozen Lessons about the Right Burn Rate (Post Product/Market Fit in a Connected World)

A Half Dozen Lessons about the Right Burn Rate (Post Product/Market Fit in a Connected World) | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Mark Suster, Fred Wilson, Tomasz Tunguz and Danielle Morrill have written blog posts on burn rates. These posts and others are linked to in the Notes to this blog post as is usual. This post will focus on the optimal burn rate after product/market fit has been proven by a business. In other words, the…
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How Seth Godin Would Launch a New Business With $1,000 And 90 Days to Spare

How Seth Godin Would Launch a New Business With $1,000 And 90 Days to Spare | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
How would Seth Godin launch a new startup anonymously, with $1,000, and 90 days to spare? Here’s the exact 5-step process.
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The First-Ever Blockchain Marketing Technology Landscape (2017) - Never Stop Marketing

The First-Ever Blockchain Marketing Technology Landscape (2017) - Never Stop Marketing | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
…. and the Vast Opportunity It Represents If you are an entrepreneur or investor with an understanding of the needs of marketers and the core concepts of marketing, you have just landed upon a massive opportunity. Introducing the Blockchain Marketing Technology Landscape (2017), the first-ever mapping of marketing solutions based upon blockchain and decentralized technologies. [If you know of one missing ... Read More
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Ecommerce Brand Storytelling: a Growth-Driven Guide

Ecommerce Brand Storytelling: a Growth-Driven Guide | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
In ecommerce, you don’t just tell stories to entertain your customers, or to make them feel good — you tell stories to sell more products. Here’s a hard truth you need to understand when it comes to…
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Winning Strategies for Applied AI Companies – Machine Learnings

Winning Strategies for Applied AI Companies – Machine Learnings | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
To give you a little more context — and paraphrasing Alex’s post — we have entered the third wave of AI startups. The wave of applied AI companies. The first wave was purely research-driven companies…
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Do More! What Amazon Teaches Us About AI and the “Jobless Future”

Do More! What Amazon Teaches Us About AI and the “Jobless Future” | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
We hear again and again that AI and robots are going to take away human jobs. My broken kettle says otherwise. Yesterday, I set my electric kettle down awkwardly on the edge of the sink. Crash! It…
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Why Customer Lifetime Value Matters to Small Businesses (& How to Calculate It)

Don't turn into that entrepreneur on Shark Tank who doesn't know their numbers. Here's why customer lifetime value matters to small businesses.
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9 Key Milestones from Seed to Series A – Point Nine Land – Medium

9 Key Milestones from Seed to Series A – Point Nine Land – Medium | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it

I was this week at Numa Berlin. I gave a second talk after the one I gave at HEC Seed Summit some weeks ago. Whilst the first talk was focused on best practices for SaaS entrepreneurs 

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SaaS Busters: ACV (Annual Contract Value) vs ARR (Annual Recurring Revenue)

SaaS Busters: ACV (Annual Contract Value) vs ARR (Annual Recurring Revenue) | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
ACV vs ARR is an extremely confusing topic that seems to be calculated differently within many SaaS companies. This post sets out to clear up the confusion.
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Zapier Software Trends Report: What We Learned from 1,000 SaaS Apps

Zapier Software Trends Report: What We Learned from 1,000 SaaS Apps | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it

Sometimes you can't see the progress until you look back. In the 7 years since Zapier started automating apps, software changed perhaps more than we realize. Apps sync across devices and voice assistants play whatever song we want and ads tell us who clicked on them.'

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Customer Success can't fit into Existing Frameworks

Customer Success can't fit into Existing Frameworks | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
If you want to keep from going down the wrong path, please sttop trying to fit Customer Success into existing frameworks.
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The Beginner's Guide to A/B Testing During Black Friday Cyber Monday – Shopify

The Beginner's Guide to A/B Testing During Black Friday Cyber Monday – Shopify | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
This complete A/B testing guide walks you through everything you need to know to earn valid test results and more cash this Black Friday Cyber Monday.
ukituki's insight:
Data-driven approach for eCommerce businesses to learn what works best without burning all the ads budget trying 
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Why Trello Failed to Build a $1 Billion+ Business – Noteworthy — The Journal Blog

Why Trello Failed to Build a $1 Billion+ Business – Noteworthy — The Journal Blog | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
In 2011, Joel Spolsky launched his company Fog Creek’s new product at TechCrunch Disrupt called Trello. It looked a lot like a whiteboard with sticky notes translated into a web browser and an iPhone…
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Building hyper-local multi-country platforms – Startups & Venture Capital

Building hyper-local multi-country platforms – Startups & Venture Capital | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
What all these companies have in common is that they need to build liquidity from scratch in every new market they expand into. Often, it’s not just limited to one side of the marketplace, they have to build both supply and demand, on a (hyper) local level, in order to launch a new (local) market. Why is that?
In all of these cases, at least one side of the marketplace, i.e., the supply or demand:
A) has a strong local component and is thus “illiquid”, i.e., it’s completely immobile (totally bound to the location) or, at most, only locally mobile/liquid (“mobility”);
B) is offline, i.e., the purpose of the marketplace is to make it available (or even better, bookable), online (“nature”)
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Growth Hacking: Strategies Learned Studying 77 Big Name Brands

Growth Hacking: Strategies Learned Studying 77 Big Name Brands | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Explore the growth strategies and techniques used by 77 big brands - including Uber, Spotify, PayPal and AirBnB - to gain traction & land paying customers.
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Growth Guide: How to Set Up, Staff and Scale a Growth Program

Growth Guide: How to Set Up, Staff and Scale a Growth Program | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
"Growth hacks" can be extremely helpful in driving viral growth early in a product's path to product market fit. However, sustaining long-term growth and reaching hundreds of millions of users requires a scientific approach to growth. In fact, growth experts resoundingly say that "growth hacking" is
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42 Pricing Tricks Based on Psychology & Neuroscience

42 Pricing Tricks Based on Psychology & Neuroscience | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Welcome to a huge resource on pricing. You'll learn 42 psychological tricks to make your price more effective - without actually lowering it.
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Dawn of the Ultimate Unfair Competitive Advantage (Part 1)

Dawn of the Ultimate Unfair Competitive Advantage (Part 1) | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Businesses try to differentiate themselves with a competitive advantage, but most never find or sustain one. A rare few will discover an “unfair” competitive advantage. The best of the best create…
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Not even wrong - ways to dismiss technology

Not even wrong - ways to dismiss technology | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
How do we get beyond 'that's a toy!' and 'but everything looked like a
toy!', and try actually to understand whether a new technology might
matter? What are valid lines of reasoning, and what statements are 'not
even wrong'?
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From Launch to Series A: Get Your Finance Plan Right (3/10)

From Launch to Series A: Get Your Finance Plan Right (3/10) | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Our limited sample tells us that it tends to take 12 months to get to 10k and another 12 to go from 10k to 100k. Some exceptional founders in great markets can do it in less time.
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Facebook and the Cost of Monopoly

Facebook and the Cost of Monopoly | CustDev: Customer Development, Startups, Metrics, Business Models | Scoop.it
Facebook gave one of the worst keynotes in a long time: there was no vision, just the adoption of Snap’s. It’s the inevitable outcome of a monopoly.
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