Does anyone have a recommendation for a good CRM software? we're pre-revenue so don't have any money to spend. I'm trying agile CRM and it's ok but I want something with better social media integration. ... See MoreSee Less
Interesting analysis of global M&A, with a special Canadian footnote:
"Of the countries the USA exchanges with most, the balance of M&A trade is roughly even between the USA and Canada, France and India. In other words, US companies buy roughly as many companies from those countries as those countries buy from the USA. There probably isn’t an overarching reason for this parity, but it’s interesting to note nonetheless." ... See MoreSee Less
Blockchain experts who convened for a three-day conference plan a campaign to fight misconceptions about the technology, which they say is unfairly perceived as insecure and susceptible to criminal activity.
Being 21 I already feel like I'm getting too old for the startup game. "Something that was founded by a 19-year-old university dropout in Toronto … turned into this $1-billion platform." ... See MoreSee Less
Picture this: A thief steals millions of dollars by hacking into an investment fund, and the whole theft is undone with a simple software update. That is, in effect, what happened recently at Ethereum, an upstart digital currency platform second only to Bitcoin in dollar value.
Jesse RodgersCulture or talent or experience or ability/understanding how to retain/develop talent. There are Canadians that know how to do it but they are global/portable and will be compensated better outside of Canada (generally speaking). This will change. We need to talk about it more. I don't think celebrating low salaries is the correct strategy.
10 hours ago · 7
James MartindaleI think Mark Organ was saying something along these lines a few weeks ago. The lack of global head office presence in Canada I don't think helps. Not enough Canadian's sitting in global strategy discussions.
Michael LittThis is a bit contradictory (by the title). By recommending we make it easier to immigrate talent, the article is supporting the fact that we do indeed lack the talent that has expertise in scaling up..
Daniel RobertsI moved to Silicon Valley about a year ago, and this resonates with me significantly. It is true that there is a deep engineering talent pool here, but the truly outstanding differences are in the sophistication of the sales organizations, the expertise in scaling and organizational intelligence, and the scope of vision. I have been much less impressed by the 'innovations' that everyone seems to talk about.
Jake Anthony HishonTld's are strictly fun, imho, ours worked out perfectly for our business portal.net.co I can't see us living anywhere else on the Internet :) as for cira, sure those 'aspirational' initiatives sound cool, but frankly it's just another business...
Washio shuts down - despite "millions in revenue" and $16.82 million in total funds raised till date, including from celebrity investor Ashton Kutcher. "over one million items of clothing dry cleaned, and over 21,000 tons of laundry washed and folded!" Operated in 6 US cities.
Key point here is that venture capital is about one thing and one thing only: growth. If a venture-backed startup can't continue growing fast enough, it dies. For entrepreneurs, this is worth pausing and thinking - are you sure you want to be on the path of venture funding to grow into a $100M business one day (where it is a binary option: go big or go bust), or would you rather focus on a niche in a specific geographic market where you can bootstrap your way and live happily ever after. After all, prod dev+hosting cost is ridiculously low these days.
Washio founders are unemployed today - while the local drycleaner is still in business. Something to think about - venture funding has its pros and cons.
Ryan ShupakNot sure this is about venture funding. Seems like it's a problem in the business model
1 day ago · 8
Varun MathurAngela Tran Kingyens Ryan Shupak Interesting points - but if I had a startup with 8% (or above) week over week growth over a sustained period, I would have no trouble with raising capital and perpetuating the startup's existence until I have shaped the market/competitive environment and made my business model and unit economics look better.
All the factors which you describe, if I lump them into a category "X" -- however bad/crappy they are, if the startup still has continuous growth, it would survive. On the other hand, if it doesn't have continuous growth, but has a fantastic business model/unit economics/other favourable factors, it doesn't matter and the startup will die for failure to raise further funding.
Case in point: Uber. Losses well over a billion $$, strategy built around buying the entire network - both drivers and riders with lucrative referral bonuses and other incentives. Many people scoff at its losses -- but all this time it has shaped the market/competitive environment to its advantage. Uber had the escape velocity and was able to buy itself time with its continuous growth.
Washio didn't have growth needed to raise the next round of funding and hence it is dead (which could be due to its business model or unit economics; but even if they were crappy, and it had figured out a way to grow rapidly further, it would still be around).
Good unit economics and a sound business model are essential; but growth is the deal-breaker and the most important metric above all. Here's a chart I made about compound growth -- in my opinion, 7% and lower WoW is a lifestyle business; 8% and over is a high-growth startup.
Ryan ShupakSeems like you ought to need both growth and a good business model/unit economics to attract investors. If VC's were getting ahead of themselves and writing cheques for businesses that didn't meet these criteria then they'll likely lose money and learn for next time. Uber isn't really relevant here - I bet Uber has dozens of cities that are profitable already and many more that are on the path to profitability. I'd bet washio wasn't profitable in any market they were in.
Rob PalumboReminded me of this really solid article from First Round Capital:
[email protected][email protected]a75583365e
"Founders are realizing the need to rethink prior assumptions about prioritizing growth above all else, and are increasingly focusing on burn rate, profitability and the path toward self-sufficiency."
Question for my fellow SNs. We use Grasshopper + Vonage as our in-house phone combo for inbound sales/support. It's been less than reliable to say the least, so I was wondering if anyone had better options to propose? ... See MoreSee Less
Joseph TeoHey Yves We run our sales and support off Skype. It's $9.99/month and you get your own skype number and unlimited calling across north america. Get your own Skype number (We got a NY one so that it's familiar to our customers and prospect) and you can forward it to your local number as well. Been working great for us! Hope that helps :)
5 days ago · 1
Yogi YoganathanCheck out aircall.io don't use them but they are doing some cool things
Rodrigo Madrizvonage has worked for me at my home for about 5 years. Not one glitch. I understand VOIP.ms is as good but you may expect an inferior service level (e.g. by email) vs. a call center. Voip.ms is significantly cheaper too
5 days ago · 1
Colin SampaleanuI like voip.ms. They are very reliable, have great support, and are way cheaper than Vonage. I don't know why somebody would pay the premium for Vonage given the other options out there...
5 days ago · 3
Jevon MacDonaldIf it's for anything customer facing, don't be cheap! Get a high quality route -- something like trulywireless.com/ -- Twilio, Grasshopper, etc are NOT good enough or reliable enough IMO.
5 days ago · 2
Brian SharwoodWe use Talkdesk and it's been solid. I think we've got about 6-7 agent licences on it. Grasshopper is really just for 1-5 people. Vonage is really just for single use.
5 days ago · 2
Yves BoudreauThanks for all the input everyone! Will look into some of to options provided.
4 days ago · 1
Simran KambojWhy not just get a dedicated connection using SIP going to the pstn? Who is your internet provider?