Thank you. Your responses have been recorded.
Please see the correct answers below.
1. FALSE. Hiring an “experienced manager” to run your operations is an absolute fantasy, you have to do it yourself.
2. B. When measuring your employees only measure progress, focus on the output and not on the input.
3. F. You should pivot when you experience bad growth, bad retention and bad economics.
4. TRUE. Advertising is definitely not a waste of resources.
5. A. O.S.F.I stands for OPERATIONS. SALES. FOCUS. INTENSITY
6. D. Best ways to bring back momentum when its lost is get more sales.
7. E) Your product should sell itself but Does not mean you don’t need sales people. Sales should be used to navigate customers and close deals, not be a substitute for a great product but ultimately everything will come down to distribution which is all about communicating your message to the right user or customer or investor or employee. #salesfacts
8. TRUE. According to the Task Relevant Maturity scale, If an employee task maturity level is low their task will be highly structured knowing what, when, and how, the employee is doing with their tasks.
9. FALSE. Extreme internal transparency around metrics and financials is a pretty good idea actually; it’s hard for people to focus on metrics they can’t see that are hidden
10. TRUE. HOUSE OF CARDS SYNDROME is when the company is growing like crazy but everything seems incredibly broken and inefficient and everyone worries that things are going to come unraveled.
11. TRUE. Working at a startup with no momentum is both demoralizing and burns you out. Sad but True.
12. FALSE. Monitor them and set objectives only if their task maturity is high. If low, their task should be highly structured knowing what, when, and how, the employee is doing with their tasks.
13. FALSE. Attending conferences and seminars is usually not the best way for you to optimize growth unless you expect to see a lot. Go to vegas to celebrate, not to attend meetings.
14. TRUE. You can’t hit a target you can’t see.
15. FALSE. Personal branding for founders is imperative if you’re company is going to be successful in the long run. Company and Mission first; always remember that!
16. FALSE. There’s plenty of proof that connects how focused on metrics employees at a company are and how well they’re doing.
17. E) New features, New Customers, New Hires, Revenue milestones, and New partnerships are all great examples of progress that helps momentum.
18. A) If you have a paid product with more than a $500 LTV (net to you) you generally can afford direct sales
19. FALSE. You should set aggressive but borderline achievable goals and review progress every month. Celebrate wins! Talk internally about strategy all the time, tell everyone what you’re hearing from customers, etc. The more information you share internally—good and bad—the better you’ll be.
20. E) Great companies grow by building a product users love, recruiting users manually first, and then testing lots of growth strategies (ads, referral programs, sales and marketing, etc.) and doing more of what works.
21. E. If you have a paid product with less than a $500 customer lifetime value (LTV), you generally cannot afford sales so you should Experiment with different user acquisition methods like SEO/SEM, ads, and mailings but try to repay your customer acquisition cost (CAC) in 3 months.
