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Conventional wisdom advocates the concept of ‘all hands support’ — getting everyone from the CEO to the lowliest intern supporting customers so the entire team understands the customer’s problems. It’s a great goal, but is there a downside? What if your dev team starts spending much more time than usual on support and it eventually starts impacting your business?

Our Churn Issue

Around January 2015, we noticed an unusual increase in customer churn. A user churn rate of 3.9% had increased to 7% in just a couple of weeks.

We’re a revenue transparent company, so yes — these are our real numbers.

And it didn’t stop there. Over the next couple of months, our user churn slowly increased to a peak of 9.8%! This was alarming, so we decided to go a...

Starting a company is downright difficult and anyone that has done it before will tell you that is an understatement. What they also might mention is in our day and age, Founders don't have to jump off the proverbial cliff head first without a parachute anymore.

The world of podcasting has opened a door into the minds and experiences of many thought leaders and seasoned Founders that offer a "tell-all" experience into their startup-building journey. It's like getting first-hand mentorship without paying a dime, and with the number of entrepreneur podcasts increasing in recent years, there's no shortage of information to take advantage of.

For startup founders embarking on the entrepreneurial journey for the first time, or even for the serial ...

Continuing in Phase Three of a four-part Funding Series:

Phase One - Structuring a Fundraise

Phase Two - Investor Selection

Phase Three - The Pitch

• Part 1 - Anatomy of a Pitch 

• Part 2 - Market Size 

• Part 3 - Revenue Model 

• Part 4 - Operating Model 

• Part 5 - Customer Definition ( ←YOU ARE HERE 😀)

• Part 6 - Customer Acquisition 

• Part 7 - Funding 

• Part 8 - Key Pitch Assets 

• Part 9 - Traction 

Phase Four - Investor Outreach

Let’s dive in!

A company in the early growth stages should concentrate its efforts on a particular segment of customers whose needs most closely match that of their best current customers and not a broad universe of prospects for expansion.

Customer segmentation works for companies that started yesterd...

Why does it Matter?

The financials slide in our pitch deck takes our own financial projections and consolidates them into our most key metrics that potential investors care about.

Most pitch deck financial projections wind up being incredibly hard for potential investors to understand, so we're going to provide you with a killer financial projections slide template that's easy to use and will impress investors.

Key Metrics Potential Investors Want

We always build our financial projections slides in our pitch deck backward from what questions investors have.

That way, the financials slide is only covering exactly what a potential investor wants to see — and no more!

"What are the pro forma financial projections?"

Our "pro formas" are really just a ...

Continuing in Phase Three of a four-part Funding Series:

Phase One - Structuring a Fundraise

Phase Two - Investor Selection

Phase Three - The Pitch

• Part 1 - Anatomy of a Pitch 

• Part 2 - Market Size 

• Part 3 - Revenue Model

• Part 4 - Operating Model ( ←YOU ARE HERE 😀) 

• Part 5 - Customer Definition 

• Part 6 - Customer Acquisition 

• Part 7 - Funding 

• Part 8 - Key Pitch Assets 

• Part 9 - Traction 

Phase Four - Investor Outreach

Let’s dive in!

What is an operating model?

If the Revenue Model is all about the clever ways you’re going to make money, the Operating Model is all about the clever ways you’re going to manage costs and efficiencies to earn it.

Operating Models Shouldn't Be Afterthoughts

Often the Operating Model gets t...

Continuing in Phase Three of a four-part Funding Series:

Phase One - Structuring a Fundraise

Phase Two - Investor Selection

Phase Three - The Pitch

• Part 1 - Anatomy of a Pitch 

• Part 2 - Market Size 

• Part 3 - Revenue Model ( ←YOU ARE HERE 😀)

• Part 4 - Operating Model 

• Part 5 - Customer Definition 

• Part 6 - Customer Acquisition 

• Part 7 - Funding 

• Part 8 - Key Pitch Assets 

• Part 9 - Traction 

Phase Four - Investor Outreach

Let’s dive in!

What is a revenue model?

Your Revenue Model is simple — how are you going to make money? More importantly, how are you going to be profitable someday? Don’t let the Silicon Valley myth of “valuable companies don’t need a revenue model” become part of your pitch. All companies need a real...

A long time ago I was talking to the owner of a huge automotive dealership chain about how he manages so many dealerships at once. I assumed there was some sort of interesting management scheme he was applying, but what he told me shocked me.

"I drive to every dealership throughout the week, walk around, and look for little things. Cars that aren't fully detailed, salespeople in back taking a smoke break when they should be on the floor, or a lower amount of foot traffic in the showroom."

He went on to say "Where there's smoke, there's fire. Every little detail that's missed means someone isn't on the job, and that's how I find out where I'm needed." In a world of OKRs, KPIs, and endless operational meetings, this guy ran a billion-dollar c...

Continuing in Phase Three of a four-part Funding Series:

Phase One - Structuring a Fundraise

Phase Two - Investor Selection

Phase Three - The Pitch

• Part 1 - Anatomy of a Pitch 

• Part 2 - Market Size (←YOU ARE HERE 😀)

• Part 3 - Revenue Model 

• Part 4 - Operating Model 

• Part 5 - Customer Definition 

• Part 6 - Customer Acquisition 

• Part 7 - Funding 

• Part 8 - Key Pitch Assets 

• Part 9 - Traction 

Phase Four - Investor Outreach

This is Part 2 of “The Pitch” — where we look at market size, how to go about estimating market size, and presenting potential market size.

Let’s dive in!

Market Sizing

Solving the Problem beautifully is nice and all, but if the Market Size of the Problem isn't big enough, you're not likely to get inves...

Welcome to Phase Three of a four-part Funding Series — The Pitch:

Phase One - Structuring a Fundraise

Phase Two - Investor Selection

Phase Three - The Pitch

• Part 1 - Anatomy of a Pitch (←YOU ARE HERE 😀)

• Part 2 - Market Size

• Part 3 - Revenue Model 

• Part 4 - Operating Model 

• Part 5 - Customer Definition 

• Part 6 - Customer Acquisition 

• Part 7 - Funding 

• Part 8 - Key Pitch Assets 

• Part 9 - Traction 

Phase Four - Investor Outreach

Any startup interested in raising money will need a pitch presentation to share with potential investors, and successful startups all have one thing in common (most likely) a solid business idea backed by a convincing presentation deck.

In this article, we will talk about the 10 sections of a p...

Leadership is a popular topic these days. To become a true leader, you need a combination of skills and attributes. Some of these are inborn, to be sure. However, you can develop your leadership abilities as well.

Entrepreneurial success stories often tip a hat to the literature that supports busy business owners through the thick of the business building experience so, of course, we wanted to share books with actionable advice that aspiring entrepreneurs will find helpful on their journey to building a successful business.

Business books that have already helped millions of entrepreneurs can guide you along the way to obtaining a sustainable business, and being the best leader you can be. After all, being a great leader takes effort — a...