Everyone focuses on the Total Addressable Market (TAM), which gives an unrealistic expectation of your market size.
Instead SOM gives you a more practical estimate.
14 mental models that helped me build 10 startups and sell (a bunch of them) for millions.
Everyone focuses on the Total Addressable Market (TAM), which gives an unrealistic expectation of your market size.
Instead SOM gives you a more practical estimate.
Is the number of new users an average customer generates and a strong indicator of how highly your users like your product.
The higher your viral coefficient, the cheaper your acquisition costs.
The process of exposing your users to different versions of the product/ messaging to determine the most effective one.
All top companies do this on a regular basis.
The different stages that a buyer goes through before making a purchase.
Understanding what stage they're in helps you strategize your marketing accordingly.
A comprehensive step-by-step plan that companies deploy to bring a new product/ service into the market.
The basic version of your product with core functionality that's just enough to launch and gather feedback.
A measure of how much your product/ service is being used relative to the total market.
Eg: Netflix has a 21% share in the streaming services market in the US.
The activities that a user performs repeatedly while engaging with your app, reinforcing them to use it again, and again.
It comprises the different touchpoints that take a person from a complete stranger into a happy customer.
It measures how much a customer is worth relative to the cost of acquisition.
If it's less than 1, you're burning your cash by bringing in more customers.
The percentage of customers who cancel/quit your product relative to the total number of customers.
To increase LTV, you need to have a lower churn rate.
The gap that exists between a user's problem and the value delivered by the solution.
The higher the gap, the more you can charge.
Refers to the interaction that makes the users realize the value of the product or causes them to change their impression of the brand.
A plan designed to help owners/ shareholders sell their ownership partially/ completely.
14 mental models that helped me build 10 startups and sell (a bunch of them) for millions.
— Joe Speiser \u26a1\ufe0f (@jspeiser) October 24, 2022
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"I lied about my basic beliefs in order to keep a prestigious job. Now that it will be zero-cost to me, I have a few things to say."
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".
As a dean of a major academic institution, I could not have said this. But I will now. Requiring such statements in applications for appointments and promotions is an affront to academic freedom, and diminishes the true value of diversity, equity of inclusion by trivializing it. https://t.co/NfcI5VLODi
— Jeffrey Flier (@jflier) November 10, 2018
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".
“We don’t negotiate salaries” is a negotiation tactic.
Always. No, your company is not an exception.
A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.
Listen to Aditya
And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.
I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.
You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.
Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]
Always. No, your company is not an exception.
A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.
Listen to Aditya
"we don't negotiate salaries" really means "we'd prefer to negotiate massive signing bonuses and equity grants, but we'll negotiate salary if you REALLY insist" https://t.co/80k7nWAMoK
— Aditya Mukerjee, the Otterrific \U0001f3f3\ufe0f\u200d\U0001f308 (@chimeracoder) December 4, 2018
And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.
I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.
You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.
Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]
