I’ve been noticing an issue more and more lately with many of the startups and small businesses that I mentor. This is a much bigger problem than most people realize and it isn’t something that seems to be addressed (or at least not well) in incubators and accelerators. The problem is communication and collaboration – […]
Key Business Terms: Profit, Loss, Cash, and EBITDA
The Profit your business makes is the amount remaining after justified and approved expenses are subtracted from the revenue/income. So if you sell $1 million dollars worth of widgets and it costs you $500k to make them (cost of goods sold), another $200k in salaries, and another $200k in general overhead (rents, phones, licenses, legal, […]
angel, Business, EBITDA, Finance, P&L, startups, valueThoughts on Scaling Customer Acquisition
In addition to making sure you have momentum, you should understand your customer acquisition process. The customer acquisition plan/process can very well make the difference between scaling or not, success or failure. A very basic exercise that you should clearly understand as a business founder/owner/leader, and one that you may need to adequately communicate to any potential […]
angel, Business, Finance, founders, growth, Investing, scaling, startupsMomentum Is The Key To Success
I meet with a lot of startup founders on a regular basis. Sometimes these discussions take place at pitch events and sometimes at a more informal coffee or lunch. Since the point of the talk usually has something to do with their venture, the founder gives some basic information about their status. How many staff […]
angel, customers, Finance, Investing, startups, ventureYou Need Margin – Both Business and Personal
When I think of and use the term “margin” I think of the additional beyond the minimum requirement. In a business sense the margin is the difference between the income and the expenses. (*That difference isn’t always cash-in-hand “profit” by the way.) The margin is often reflected as a percentage and you can easily see […]
budgeting, Finance, Investing, margin, PersonalGrowth, savings