Retention is stealthy and can be misleading in the short-term because it takes time, often years, to see its impact on your company’s growth. To truly understand how it drives the health of your product, you need to take a longer term view – at least one year, preferably multiple years.
A founder’s greatest strength is their resolve — their ability to “rage against the dying of the light.” Yet at the same time, their greatest weakness is that they sometimes just don’t know when to quit.
We recommend thinking of PR like playing baseball. The way to succeed is to focus on each at-bat, and increase the number of at-bats. The key is to keep bringing journalists new stories, like datasets, product launches, partnerships, and more.
I believe one of our greatest assets to our portfolio companies is to be an early warning sign of trouble. If we can help the founders/leaders and their teams be aware of risks on the horizon, they can manage against those risks. And if there is one thing investors, particularly ones who have been around a while know about, it is how things can and do go wrong.
The high-expectation customer, or HXC, is the most discerning person within your target demographic. Once you nail down the HXC, get the entire company on board with understanding these customers, use their language to engage with them and continually survey them to stay on top of their evolving needs.
1) Give candidates a sample assignment that mimics what they would do on the job (e.g., Excel exercise or social media drafts), and score their performance. Or, 2) Identify the core competencies needed to perform on the job (whether hard or soft skills) and create exercises that test them (e.g., present a fictional situation around reaching deadlines and ask applicants to prioritize actions, to assess for project management skills)
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