In our research with thousands of leaders, one skill stands out — by far — as the most common improvement area: their ability to sell a vision to employees. Over 50 percent of leaders we’ve assessed struggle to demonstrate this form of visionary leadership, a larger deficiency percentage than for any other leadership skill. Leaders are consistently unable to vividly paint a compelling picture of the future in a way that inspires others to follow them along a challenging route toward a new business reality. This is an improvement area for most leaders because it requires them to synthesize and clarify ambiguous, complex business concepts into a clear path forward…
An area I have wrestled with as a VC over the last five years is how to really understand the unit economics of businesses. The basic concept of LTV>CPA (lifetime value greater than cost to acquire) is pretty simple. The complexity comes when you try to work out what will happen to these economics as the business scales.
I’m not going to get into lifetime value calculations here, as it is well covered elsewhere e.g. by Bill Gurley here. Where I’d like to focus is on CPA.
Often as a VC you are presented with a headline CPA figure and nothing more. This can look good on the surface but mask underlying issues. For example…
Putting up a website isn’t really the hard part. Just about anyone can launch an online store and start selling products in a very short amount of time. But, there’s potential bad news here, as well. As the common saying goes, the devil is in the details.
Order fulfillment? Website security? Mobile commerce? What are some smart ways to get over the obstacles each presents?
This article was originally published on my personal blog.
Where to start learning if you don’t know the basics.
- Identifying and Framing the Analytical Problem
- Working with Quantitative People
- Understanding Different Types of Data and Their Implications
- Understanding Different Types of Analytics and Their Implications
- Exploring Internal and External Uses of Analytics
There is a rite of passage in the product management world, where all PMs have experienced being asked: “What does a product manager do, anyway?”