Startups are more likely to die than to succeed. One can learn more about what not to do than what successfully worked for others. I did a talk at Oxford University about Dumb Ways to Die. I break out some of the key reasons that startups fail. The five things to watch out for are: Team – founder blow ups …
Hunter S. Thompson explains the meaning of life
In 1958, Hume Logan asked his friend, Hunter S. Thompson for advice on life. At the time Hunter was a nobody- not the famous author he is today. He was working for Time magazine as a copy boy, making $51 a week. Hunter’s reply to his friend was so thoughtful and inspiring that it’s still as powerful advice today as it was …
Think better: Pareto principle or 80/20 rule for startups
Tl;dr: The Pareto Principle or the 80/20 rule states that 80% of effects come from 20% of causes. Identify the causes and focus on those. 20% work is about doing the right things, as opposed to doing a lot of things. Working more hours does not necessarily increase the likelihood that you will succeed. Work is overrated. Working hard with …
ARR Monthly Recurring Revenue explained for SaaS startups
ARR, an acronym for Annual Recurring Revenue, is revenue a startup can anticipate in an annual period. It is the value of the recurring revenue of a startup’s term subscriptions which are normalized to a year. It is a common term used in the SaaS and subscription world. ARR is also known as Annualized Run Rate since ARR is a …
MRR Monthly Recurring Revenue explained for SaaS startups
MRR, an acronym for Monthly Recurring Revenue, is income a startup can reliably anticipate every 30 days (monthly period). MRR lets companies operate under a subscription model, as opposed to one based on one-off transactions. It is used by SaaS companies as a measure of your predictable revenue streams (You don’t include unpredictable revenue in it like one-off professional services). …