It's up to each individual how specific they want to be, and how much information to reveal. At the very least, we hope that it can help people who need it lift a burden off their shoulders, or know that we're not alone in this.
But we felt this was something that might help (and be fun for) startup people right now since we've seen a number of stories on here that signaled to us that a place to post anonymously might help people open up.
Thus we're building Recount with Startup Anonymous as the main topic right now. We thought it'd be apt for the audience here as well.
If there are other topics / themes you'd like to write about, feel free to send us a feedback through http://recount.it/posts/new and adding a hashtag #feedback to it. :)
For modern startups, growth can be optimized on an ongoing basis but not if you're not building something that people love. There's a reason why Zynga games' growth aren't sustainable and they need to rely on the novelty of games to grow.
I'm sure even Blizzard and Steam teams are very focused on growth as a metric. It's just that unlike Zynga, they believe that creating fun mechanics in their games and improving on them through patches make for a great way to move their needle. Therein lies the difference. I guess the focus shouldn't just be growth at all cost, but sustainable growth.
PG did state what are good metrics to focus on:
"The best thing to measure the growth rate of is revenue. The next best, for startups that aren't charging initially, is active users. That's a reasonable proxy for revenue growth because whenever the startup does start trying to make money, their revenues will probably be a constant multiple of active users."
Congratulations and good luck!! There's nothing better than to be working on something you can call your own, and to be building a company of your dreams.
It will be a tough journey ahead, but the courage to resign is a first step. There's a tonne of work that needs to be done so remember to stay FOCUSED. :)
^ Yeap. This. I was mainly trying to share a problem solving technique that's been working for me. I did look up Wikipedia for an explanation and linked to it. It was a pretty decent explanation with credible research sources. I'll make it more obvious that it isn't some sort of scientific self-quote.
Thanks for the suggestion and thanks for backing me up.
I think the issue is the requirement to have a registered director located in Singapore.
Also, if you plan to apply for residency using the EntrePass it appears you need to have $50k SGD in "paid up capital", which is about $40,000 USD. I'm not sure what "paid up capital" means, though. (EG: is a business making $4,000 a year in profit valued at $40,000 thus considered to have $40k in paid up capital? Or does it mean you need to put $50k SGD in a local bank to sit there as a form of a bond?)
Ah, you're referring to the $3000 deposit + $3000/year requirement that professional nominated "Directors" require to setup the business. Yes, this can be an issue if you do not have relationships with any locals.
I believe many countries have restrictions on foreigners incorporating without a local director/shareholder?
But yes, it is a little bit annoying. What we ended up doing is getting a mentor/investor to become a nominee director.
when you incorporate a limited liability company, you must inject capital to this entity. This is the paid up capital. retained profit is not capital, if my rusty accounting can be trusted. valuation is definitely not capital.
It's up to each individual how specific they want to be, and how much information to reveal. At the very least, we hope that it can help people who need it lift a burden off their shoulders, or know that we're not alone in this.