Our weekly roundup of posts you might have missed, but shouldn’t.
1) The 1st and 2nd Gospels of Sequoia Capital. We posted on these last week, following a nod form TechCrunch (thank you). Gospel 1: Elements of Sustainable Companies. Gospel 2: Writing A Business Plan. Sequoia funded Google, Yahoo, Apple and others, so these lists are like success crib sheets from the Burning Bush. Frame them on your wall.
2.) Strategic Tools: Site performance is a moving target, and demands your constant attention. On Mar. 19 we found this compendium of 20 posts on how to use Google Analytics better. We get it via Manoj Jasra.
3) Creativity: You’re working so hard, it’s really difficult to keep the mind inspired. On Mar. 20, Lifehack.org published one of the best lists I’ve read recently on how to nurture your own creativity. 30 Tips to Rejuvenate Your Creativity.
4.) Hiring & Retaining Talent: On Mar. 21 our friend Ben Yoskovitz published How To Use Perks and Rewards in Startups to Get The Best Talent, following the flak over Jason Calacanis’ claim that you should hire workaholics. One of Ben’s readers noted: “the best employees are motivated by a combination of working on something intellectually stimulating, working with smart people, and making money… in that order.†Great! but where paying people is easy, motivating them in HARD. So how to motivate your employees? Ben’s has your tips.
5.) Book of the Week: on Mar. 17 Harvard Working Knowledge wrote about the new Oxford Handbook of Business History. All of business history in one tome? Sounds grand, but consider picking up the handbook for one reason: it offers accounts from all geographies and cultures (Japanese business history, Latin American business history). Euro-centric histories still dominate our academic business literature, but a world view is important to startups too in an era of globaization! “The references in almost every chapter contain multiple citations to literatures not published in English [on] entrepreneurship, corporate governance, technology and innovation, and economic theory and development.†Check it out.



Question of the Day:
Can your business mission be summarized on the back of a business card?
If not, then I want to make sure you all see this: Sequoia’s Gospel of Startups More True Than Ever. In it, Mike has republished Sequoia Capital‘s 1st Gospel for building successful startups called Elements of Sustainable Companies. it includes things like:
- Clarity of Purpose: Summarize the company’s business on [a] business card.
- Large Markets: Address existing markets poised for rapid growth or change. A market on the path to a $1B potential allows for error and time for real margins to develop.
- Rich customers: Target customers who will move fast and pay a premium for a unique offering…. etc.
Mike is right that these principles are even more important in the current market (and we’re glad others are fans of Teddy Roosevelt!)
But also I want to draw your attention to Sequoia’s 2nd Gospel, a list of tips for how to write winning business plans. In Writing A Business Plan, the firm says: We like business plans that present a lot of information in as few words as possible. The following format, within 15-20 slides, is all that’s needed.â€. So here’s the list…
Company Purpose:
- Define the company/business in a single declarative sentence.
Problem:
- Describe the pain of the customer (or the customer’s customer).
- Outline how the customer addresses the issue today.
Solution
- Demonstrate your company’s value proposition to make the customer’s life better.
- Show where your product physically sits.
- Provide use cases.
Why Now
- Set-up the historical evolution of your category.
- Define recent trends that make your solution possible.
Market Size
- Identify/profile the customer you cater to.
- Calculate the TAM (top down), SAM (bottoms up) and SOM.
Competition
- List competitors
- List competitive advantages
Product
- Product line-up (form factor, functionality, features, architecture, intellectual property).
- Development roadmap.
Business Model
- Revenue model
- Pricing
- Average account size and/or lifetime value
- Sales & distribution model
- Customer/pipeline list
Team
- Founders & Management
- Board of Directors/Board of Advisors
Financials
- P&L
- Balance sheet
- Cash flow
- Cap table
- The deal
That’s it! Straight form the burning bush otherwise known as Sequoia Capital! Good luck.


