After decades of leading technical teams at companies like Looker, LiveOps, Netscape and ReadyForce, Lloyd Tabb’s biggest lesson isn’t what you would expect — or want to hear: you’re measuring the wrong metrics. We all are. The numbers that are often elevated within technology companies — from daily active users to revenue growth — effectively compare companies, but don’t necessarily help them run better. He describes these measurements as vanity metrics. Instead, he urges companies to track clarity metrics: operational metrics, such as active engagement minutes that drive growth. To not fall into the vanity metrics trap, Tabb suggests centralizing user activities and milestones into a single event stream. Event streams show a comprehensive view of how people move through your product, enable you to analyze their behavior, and track how your metrics influence each other. Once you create your event stream, he recommends trying a simple exercise: “Count the number of active five-minute blocks your user spent with you in a day and look for clusters of action — and gaps of inaction — in their behavior. It’s a cheap way of understanding what your customers are actually doing. Are they spending a lot of time on a page because they are interested or are they confused? If they are making a purchase, how many pages do they visit before they buy?” asks Tabb. “If you don’t have your data arranged by time in an event stream, you’ll never be able to answer these questions.”

Take cash as oxygen- How much money you require to keep your business active and how long you are going to use the same? Do you have this much of fund in your account through which you can carry the basic expenses associated with your business such as rent and overhead? It is the biggest matter of concern for all first-time entrepreneurs. They should make sure that their actions should respond to the bleeding of funds that take place before they start getting profits. Extra information can be read at Online marketing tips.

Before you launch your business make sure you have some money: make savings, borrow from family and friends or approach potential investors. Make a financial back-up plan. Learn how to make a budget for your business. Do not expect that once you start your business to receive financing from a bank, because generally they are reluctant to finance start-ups. Consider using a financing program for new businesses such as the START Program. You, as an entrepreneur, are the best marketing agent for your business, so everything you do and communicate must inspire professionalism. This means that everything from clothing and attitude to business cards and behavior must be impeccable and give potential customers and collaborators confidence.

It’s easy to get caught up in the day-to-day challenges of running a business, but you MUST carve out time at least once a week to take stock of what you’re doing for the long-term health of your business. That includes marketing, training, employee development, community engagement and capital development. Sound investments today will pay dividends in the future. – Jim Judy, Try Franchising Source: https://theentrepreneurresearch.com/.