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  1. Prikvačeni tweet

    I’ve asked multiple entrepreneurs this week how long it took to find product/market fit. Answer: two years. I followed up asking how long it took to get to $1M ARR from scratch. Answer: four years. Settle in, it’s a long journey.

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  2. What valuable problem does your startup solve? Put the problem in one or more categories: - Popular - Growing - Urgent - Expensive - Mandatory - Urgent The more categories, the better. The stronger the need, the better.

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  6. Selling is a critical skill for entrepreneurs. - Recruiting a new team member? Sales. - Potential customer? Sales. - New round of funding? Sales. - Key partnership? Sales. Nothing happens until something is sold.

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  7. Biggest surprise for founders receiving their first term sheet? All the hidden dilution. - Option pool shuffle (expansion of option pool before closing) - Dividends - Participating preferred (in less competitive deals) Entrepreneurs should understand the dilution dilemma.

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  9. Assessing product/market fit as a function of new sales? Try this: - Look at last quarter's gross margin from new sales - Look at last quarter's total sales team spend If new sales gross margin is greater than sales team spend, you have it.

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  11. Best way to start the new year? Find a coach, mentor, or peer group. Find someone who cares, provides honest feedback, and is not judgemental. Don’t know where to start? Ask other entrepreneurs what they do.

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  13. Put together your 2020 Simple Strategic Plan now - Purpose - Core Values - Market - Brand Promise - 3 Annual Goals - 3 Quarterly Goals - 3 Priority Projects Put these in a shared doc and talk about them weekly with your team. Alignment is incredibly powerful.

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  15. It's a great time for a Gratitude Year in Review. Make a simple doc with three sections: - Personal - Family - Business Then, in each section, write out 3-5 things that complete the sentence "I am thankful for..." from this year. Bonus: make a second one for the decade.

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  16. Excited to announce that has acquired to build the leading ABM cloud. Congratulations to both teams!

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  18. You either made the right decision or learned something new. Decision making absent perfect information is life. Always ask: is this decision reversible? Most are. Few aren't. Make the call. Learn. Repeat.

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  20. Thinking SaaS valuations? Here’s the best formula: 10 * annual recurring revenue * growth rate * net retention rate Grow fast with strong customer renewal + upsell for the highest valuation.

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