1] Customer Acquisition Metrics

2] Revenue Metrics

3] Unit Economics

4] Operating Break-Even

5] Funding Requirement

He further specified that all the five metrics are important and interdependent on each other. Customer Acquisition Metrics is the main driver of the sale, it states that customer base to which organization is catering must accept the product, organization must make sure that significant amount of their customer base is retained so that revenue per user is high. For startup if sales driver are perfect than revenue generated from them is high, which can be measured through revenue metrics. For the organization per unit sales are important, as they are the fundamental financial building blocks, organization spend considerable amount to gain customers for their products as well as to keep them loyal. These is measured through unit economics. When lifetime value from the customer exceeds their acquisition costs, organization attains breakeven point at which it operates on no profit, no loss basis. Up to this point organization depends on  the investors funding. Funding from the investors depends on cash flow of the organization, Working capital which keeps track of organization’s liabilities as well as Valuation of the organization which defines the estimated value of organization.

Finally Mr. Chintan Bakshi stated that for the organization to be profitable and to be able to sustain in market for long time, all the metrics of measurement should be positive.

The post Measurement of Health on Startup and Business. first appeared on Lemon Ideas.

An argument we always hear from those against the idea is that most traits required in an entrepreneur, like passion and determination, can not be taught. Nobody else can teach a person how he can become a visionary. And, they are right. How can such abstract qualities as outside the box thinking, a fire in the belly or a hunger for success be artificially infused in anyone’s personality?

Now, the thing is people naturally having these qualities may lack some others. Good financial planning or resource management, for instance. Sometimes, it may be just the lack of experience that may be undermining an otherwise talented individual to float their own venture. This brings us back to our original question, is there a need for entrepreneurs to undergo any kind of training?

So here’s our answer: If it was not, there wouldn’t be such a big number of MBA institutions across the country. Besides, most of these institutions teach management in a particular area like HR or finance whereas an entrepreneur needs to be well versed with all aspects of running an enterprise.

Entrepreneurship is all about execution more than just imagination. This makes it highly experiential and thus it needs to be learned through experience and not just ‘Gyan’ session inside the classroom. There is no rocket science in management and true for entrepreneurship as well but what matters is picking up learnings from others & past , thus moving fast. Training & Mentoring based on experience of others makes it wiser for newbie entrepreneurs to seek forward to.

Let’s make new mistakes while we learn from others mistakes and make a smart move in highly competitive landscape of business world.

So, the answer is simple, yes there is a need to give entrepreneurship-specific training, even to Indian kids. In fact, that is the very reason and mission with which we launched Lemon School of Entrepreneurship.

— Deepak Menaria , Founder & Chief idea Farmer- LEMON

The post Is there a need for training entrepreneurs? first appeared on Lemon Ideas.