Venture Capital Consulting

Most startup founders don’t truly understand their business numbers. And that’s a big problem. We talk about building, scaling, and fundraising — but what if the core numbers aren’t clearly defined? I’m sharing this post for every founder, early-stage investor, and curious learner. If you’re building a product, these 8 metrics can decide your business's future. Let’s talk real fundamentals. 1. Bookings ≠ Revenue Bookings mean the customer has signed and committed to pay. Revenue is counted only when you actually deliver the product or service. Verbal deals or letters of intent are not bookings or revenue. 2. Recurring Revenue is everything One-time fees may help in the short term. But recurring product revenue shows long-term value. That’s why ARR and MRR matter. And they must keep growing. 3. Gross Profit shows real health The top line may look good. But what’s left after the delivery cost tells the truth. Please just keep your costs clear. Know what you’re including in gross profit. 4. TCV vs ACV TCV = full contract value (can be 1, 2 or 3 years). ACV = what the customer pays you every year. If your ACV is growing, your product is becoming more valuable. 5. Lifetime Value (LTV) This is not just revenue. It’s the net profit you expect from a customer over their journey. LTV helps you decide how much to spend on getting a customer. 6. GMV vs Revenue GMV shows the total transaction value on your platform. Revenue is what you actually earn from it. Investors always check what part of GMV you’re keeping. 7. CAC — Paid vs Blended Always track CAC for paid marketing separately. Blended CAC hides the cost reality. If you know your true CAC, you can scale more confidently. 8. Churn tells the real story High churn = leaking bucket. Gross churn tells you what you lost. Net churn tells you what you lost after upgrades. Both matter. Don’t hide behind upsells. You can’t run a business with only a gut feeling. You need sharp data and a sharper understanding of that data. These 8 metrics can help you see what your business is actually doing. Every serious founder must know them. Not just for investors. But to lead the business the right way. Let’s make better businesses. With truth. With clarity. And with numbers that actually make sense. #businessstrategy #startuptips #founderlife #entrepreneurship #financialliteracy #AbhishekVyas

Do you know the top 10 KPIs VCs care about across stages? Aumni’s latest analysis looks at over 10,000 data points across portfolio companies of all stages to reveal top metrics sought by VCs. It has been found that 1. Revenue, net burn rate, FT headcount, and gross margin are frequently requested  2. Most venture firms request 6-9 metrics per quarter from each PortCo  3. Cash ranks high in the early stages but becomes less critical in the later stages 4. Operational metrics take up 50% of the top ten list at Series D+ Point to note: 1. You can see that the two cash metrics in the top ten list (cash-on-hand and cash runway) are requested far less often across stages. Both metrics fell from an average combined ranking of 3.5 out of 10 in the seed stage to scarcely staying in the top ten by Series D+. 2. As expected, metrics that focus on operational efficiency are requested more frequently later in the startup lifecycle.   Gross margin, total OpEx, EBIT, bookings, and debt balance are frequently requested metrics as companies enter growth and exit stages. Please check the comment section for the detailed note by Aumni. ~~~~~ ♻️ Found this helpful? Repost it so your network can learn from it, too. And follow me, Fazlur Shah for more content like this. #startups #entrepreneurship #venturecapital #investing

🌍 Joint Ventures: The Fastest Way to Access New Markets with Minimal Risk 🤝 Want to expand into new markets without the crushing cost and risk of going solo? Here’s a proven growth tactic the smartest companies use: Joint Ventures (JVs). A joint venture is a strategic alliance where two or more businesses team up for a specific project, product launch, or market entry—sharing resources, expertise, and rewards while keeping their own identities. Why it works: You tap into your partner’s established assets—like distribution channels, brand recognition, or local expertise—while splitting costs and reducing the risk. 🚀 5 Steps to Building a Profitable Joint Venture 1️⃣ Identify the Right Opportunity ♠️ Pinpoint your goal: market expansion, product development, or tech capability ♠️ Look for partners whose strengths complement—not compete with—yours 2️⃣ Approach and Qualify Partners ♠️ Research reputable firms with mutual interests and aligned values ♠️ Start informal talks to gauge chemistry and operational fit ♠️ Do thorough due diligence—financial, legal, and cultural 3️⃣ Structure the Deal Clearly ♠️ Decide on form: contractual JV or separate legal entity ♠️ Outline contributions: capital, IP, tech, people, or market access ♠️ Set governance rules, profit-sharing, and dispute resolution processes 4️⃣ Start with a Low-Risk Pilot ♠️ Launch a mini-campaign, trial product, or limited rollout to test success ♠️ Learn, adjust, and build trust before going all-in 5️⃣ Measure and Optimize Together ♠️ Agree on KPIs from day one ♠️ Hold regular check-ins, share results, and adapt quickly ♠️ Keep communication open to strengthen the partnership 💡 Why Joint Ventures Work So Well ♠️ Faster market access without building from scratch ♠️ Shared costs = reduced financial exposure ♠️ Instant credibility through your partner’s brand ♠️ Access to local or niche market knowledge you don’t have internally 🔥 Your Challenge: Think of ONE market or audience you want to reach in the next 12 months. Now ask yourself—who already has their trust, attention, and access? Message them THIS WEEK to explore a small, low-risk collaboration. You might be one conversation away from your next big win. 👇 Drop a comment: What’s ONE joint venture idea you’ve considered (or tried) that could open a new market for you? #JointVentures #StrategicPartnerships #BusinessGrowth #MarketExpansion #Collaboration #Entrepreneurship #B2B #GrowthStrategy #BusinessDevelopment #SmartGrowth #Networking #BusinessTips

The Two Types of Metrics Every Business Needs 📊 Every founder I work with eventually hits the same wall. They're drowning in data but starving for insights. Spreadsheets full of numbers that don't connect to any clear action plan. The problem isn't tracking the wrong things, it's mixing up two completely different purposes for metrics. While many of these metrics overlap (because good business metrics are good business metrics), I've organized them by their PRIMARY focus during fundraising vs daily operations. Think of it as two different lenses for viewing the same business. ➡️ VENTURE CAPITAL METRICS These tell a story of scale, momentum, and market opportunity. ARR and MRR show recurring revenue strength that investors love because it means predictable income streams. Growth rate demonstrates month over month momentum and shows investors you're accelerating, not just maintaining. Burn rate and runway answer the critical investor question: "How long will my money last?" CAC and LTV prove your unit economics work at scale and show whether more marketing spend will generate returns. Revenue multiples help investors benchmark your valuation against comparable companies. Churn rate reveals retention risk and tells investors whether you have a leaky bucket problem. Market size using TAM, SAM, and SOM shows this is a billion dollar opportunity, not just a nice business. Logo count provides social proof that other smart people believe in your solution enough to pay for it. ➡️ OPERATING METRICS These power decisions, accountability, and optimization. Active users, DAUs, and MAUs reveal real product usage patterns and tell you if people find value in what you've built. Conversion rates expose exactly where prospects drop off so you know where to focus optimization efforts. Sales pipeline health compares forecasted deals against closed deals, helping you predict revenue and spot problems early. Gross margin shows profitability of your core product after direct costs. Headcount and hiring plans manage your biggest expense category since most companies spend 60-70% on people. Support tickets and NPS scores measure customer satisfaction and predict churn before it happens. Product engagement reveals which features customers actually use, helping you prioritize development resources. Unit economics breaks down real cost vs return per customer segment for optimized marketing spend. === The best founders track both sets religiously. Use your operating metrics to build compelling investor stories, and let investor feedback guide your operational focus. What metrics are you tracking that I missed?

I built 4 startup partnership programs that drove over $30M in ARR. The secret to our success was ruthless focus on our Ideal Partner Profile (IPP). Here's how you find yours: As a Partnerships Leader, you never have enough time or resources. This means you need to focus your limited bandwidth on the right partners. You start by mapping your customer’s needs and value ecosystem. Then you decide which types of partnerships work best for your business. To do this, you need to answer two questions internally: 1. What are your core (board level) goals for Partnerships? Some examples are: - Create External Sales Channels - Product Implementation / Management - Lower Acquisition Costs (CAC) - Referral Revenue - Retention (LTV) - Enter a New Market - Fill Product Gaps - Market Exposure 2. What do you bring to the table for partners? Some examples are: - Revenue Share (Affiliate, Referral or Resell) - Implementation Revenue - Onboarding / Customization Revenue - Management Revenue - Customer Base - Product Capabilities - Brand & Audience - Marketing Engine/Dollars You then use the answers to develop your *initial* partner profiling criteria. This will help you select the types of partners who can help you achieve your goals AND value what you bring to the table. Then you create a list of questions to qualify *specific* partner prospects. Questions like: - What is their impact on our customers? - Do they work with our Ideal Customer (ICP)? - Do they work with our target stakeholders? - Do they have sufficiently strong relationships to make influential recommendations? - Are they willing AND able to make those recommendations? - Do they have a track record of doing this with other partners? From here you’re ready to run experiments with different types of partners. Measure the results of these experiments and iterate. Cut what’s not working and double down on what is. The faster you nail this down, the faster you find your Ideal Partner Profile. Imagine if all of your time was spent on the right partnerships… This is how you do it. Make it happen. P.S. If you want my free 56-page how-to guide on building partnership programs from $0-$30M, Like this post and Comment GUIDE below.

Far too many Consulting firms struggle to scale beyond the influence of their Founder. They fail to build recurring revenue channels that extend beyond the Founder’s personal network and reputation. Instead of intentional growth, they operate on ad hoc improvisation—saying yes to everything, reacting to the flow of the day, and never truly designing a scalable model. The result is scattered efforts, unpredictable revenue, and a ceiling that’s impossible to break. Many Founders hesitate to hire senior experts due to their high cost, despite these individuals being best positioned to drive business growth. Even when they do bring them on board, they are often reluctant to grant equity, many Founders believe that they should retain all rewards since they created the original value. This mindset overlooks a crucial reality: securing and retaining senior talent with client relationships for the long term is what truly enhances equity value. The priority should be building a team of senior specialists with strong market reputations from day one. Paying above market rates and offering long-term equity incentives isn’t just an expense—it’s a strategic investment in credibility, accelerated growth, and early wins with high-value clients. Another defining factor is positioning. Many early-stage Consulting firms spread themselves too thin, saying yes to whatever comes their way. Sustainable growth comes from solving a well-defined, high-value problem better than competitors and shaping this into a repeatable process. Firms that dilute their expertise struggle to establish authority. Specialisation builds authority and pricing power. Client acquisition is another common stumbling block. Instead of chasing leads through cold outreach, the most successful consulting firms focus on becoming the reference in their field. Sharing insights, educating the market, and consistently reinforcing expertise creates demand, reducing reliance on unpredictable deal flow. Long-term success comes from consistently evolving expertise, deepening client relationships, and building a market-defining reputation.. Firms that take this approach position themselves as dominant players, creating a business that doesn’t just grow—it thrives on its own momentum.

Not all metrics are created equal, and understanding the hierarchy of data is crucial In 2022, many venture-funded SaaS companies showcased impressive metrics like LTV to CAC ratios and Magic Numbers. However, post-SaaS crash, it became clear that the metrics shared with investors were disconnected from the operational realities GTM teams faced. This disconnect is often because different kinds of metrics serve different purposes. There is a hierarchy of metrics, and each layer serves a unique function: • 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗠𝗲𝘁𝗿𝗶𝗰𝘀 (𝗲.𝗴., 𝗟𝗧𝗩 𝘁𝗼 𝗖𝗔𝗖, 𝗯𝘂𝗿𝗻 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲): These metrics are high-level and geared toward showcasing financial health to investors;    • 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗲𝘁𝗿𝗶𝗰𝘀 (𝗲.𝗴., 𝗔𝗥𝗥, 𝗙𝗖𝗙): These directly reflect the company's financial status;    • 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗠𝗲𝘁𝗿𝗶𝗰𝘀: Teams need these to steer the business effectively, such as GTM performance indicators;    • 𝗚𝗧𝗠 𝗠𝗲𝘁𝗿𝗶𝗰𝘀: Real-time metrics such as lead counts, sales cycle lengths, and conversion rates, which operational teams need to make day-to-day decisions. The key takeaway? Investor Metrics tell the story to investors, but they don’t guide operational teams on what to do next. To make informed decisions - whether it’s hiring more salespeople or increasing spend on SEO - teams need to rely on GTM data. 3 Tips to start tracking metrics effectively: • 𝗔𝗹𝗶𝗴𝗻 𝗺𝗲𝘁𝗿𝗶𝗰𝘀 𝘁𝗼 𝘆𝗼𝘂𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗷𝗼𝘂𝗿𝗻𝗲𝘆: Ensure your data model reflects every step of the customer experience, from acquisition to expansion;    • 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗿𝗲𝗮𝗹-𝘁𝗶𝗺𝗲 𝗚𝗧𝗠 𝗱𝗮𝘁𝗮: Start with metrics that guide your operational teams to adjust in real-time, such as sales cycle lengths, lead volumes, and personnel costs;    • 𝗨𝘀𝗲 𝗿𝗮𝘁𝗶𝗼𝘀 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝗳𝘂𝗹𝗹𝘆: While ratios like LTV to CAC are helpful for investors, they are retrospective. Ensure your operational team is working with day-to-day metrics that reflect current performance. As companies transform from startups to scaleups, the focus on GTM metrics becomes vital. Without adapting and addressing these shifts, many businesses will face unnecessary hurdles. #RevenueArchitecture #GTM #SaaS #DataMetrics #SustainableGrowth

A critical part of journey management in any large organisation is measuring how your journeys perform. 📊 By setting clear goals, monitoring performance, identifying gaps, and measuring improvement impact, you create a continuous cycle of management and enhancement. Measurement surfaces opportunities and kickstarts improvements. 🚀 Yet many organisations struggle: data sits in silos, teams measure inconsistently, and dashboards report numbers without a coherent story. Product, marketing, sales, service, and digital teams collect valuable insights, but without a common language, they never combine into a unified performance view. The result? Plenty of activity, little clarity on what actually improves customer experience and business performance. Measuring performance along specific journeys—rather than isolated KPIs—provides the right context: the journey itself. 🗺️ This approach transforms your journey framework into an engine for improving both customer experience and business performance holistically, creating a shared structure and language where different KPIs unite. 🧭 Inspired by the Balanced Scorecard, this pragmatic 3x3 Matrix structures performance measurement across two dimensions: 👉 First, it distinguishes 3 performance metric categories: - Customer performance (behavior and sentiment) - Commercial performance (conversion, customer base, revenue) - Operational performance (cost, efficiency, reliability) 👉 Second, it distinct three journey hierachy levels: - Overall customer lifecycle - End-to-end product or service journey - Individual customer tasks These intersecting dimensions ensure each metric sits logically within a complete, coherent view. The visual below shows example metrics for all nine sections, helping you build a balanced measurement framework for journeys. This matrix delivers three immediate benefits: ✨ 1. It aligns siloed KPIs and contextualizes them into a shared journey 2. It enables drill-down and aggregation through connected KPIs across journey levels 3. It surfaces trade-offs and synergies between performance metrics A few quick tips to take into account when drafting or structuring your own journey-driven measurement framework 👇👇👇 🐌 Consider both leading and lagging indicators for a robust measurement approach that balances early warning signs with outcome metrics.  🤲 Don’t collect everything. Start with a North Star KPI for each journey, and add a small set of supporting metrics. Less is more. 💬 Always mix performance metrics with more qualitative feedback and insights that will help you determine why performance is down and how to fix it. Happy measuring! 🎉

Are you a VC looking to expand your operations to a new region? Consider hiring a Venture Partner. This is how it works. Venture Partner is neither a startups scout nor a full-time team member. If you want a Venture Partner to truly move the needle, make sure they bring these 4 core strengths: 1️⃣ Regional Visibility Do they just attend events — or do they host them? A strong VP should be actively visible in their local ecosystem: speaking on stage, judging competitions, moderating panels, or running investor programs. Visibility builds trust and opens doors. 2️⃣ Sector Credibility Are they known in the sectors you’re investing in? It’s not enough to have a big network — they should have real domain expertise, ideally as a founder, operator, or hands-on advisor. It shows up in how they evaluate teams and gain founders’ trust. 3️⃣ Reputation & Access Do the best founders actually want to talk to them? Strong VPs have reputations that attract high-quality inbound — and networks that reach into future breakout companies before they hit the radar. Your Venture Partner should be someone who gets called before the deck is ready. 4️⃣ Deal Flow Intelligence Are they plugged into structured deal sources — or just passive LinkedIn lurkers? Membership in regional angel networks, syndicates, and co-investment programs gives investors access to pre-screened, vetted startups. This is the difference between hoping for a pipeline and owning one. Interested in accessing my 💥 800+/year deal flow in 🇱🇹 🇱🇻 🇪🇪? I'm looking to join a VC team as a Venture Partner Baltics. Let's chat!

Corporate Venture Capital keeps repeating the same mistake. Why do we still expect new results? Time and time again, we see the same cycle: corporations launch venture arms to foster innovation, explore new trends, and discover fresh business models. Then, a few years later, many shut them down after failing to deliver long-term results or just because companies need to focus on their core activities. Why does this happen? ✅ Short-term thinking: Most CVCs lack the patience and structure to succeed. ✅ Limited ecosystem access: Building networks from scratch takes years. ✅ Wrong incentive structures: Corporate governance rarely allows for offering market standard incentive for (experienced) venture capital professionals. Here’s a smarter alternative: Instead of building CVCs, corporations should partner with specialized fund managers in their industry. By investing in these funds, they: ➡️ Gain insights from diverse dealflows. ➡️ Learn from portfolio companies’ business models. ➡️ Generate financial returns while staying ahead in innovation. Emerging fund managers already have the expertise, networks, and access that corporations struggle to build internally. This approach allows companies to focus on their core business while benefiting from specialized knowledge and strategic opportunities. Long-term success in corporate venturing isn’t about doing everything yourself—it’s about leveraging the right partnerships. Have you seen corporations effectively use this strategy? What makes it work?