Comments on: Data: A Startup’s Secret Money-Making Asset

By: Ben Yoskovitz

Ben Yoskovitz — Mon, 23 Jun 2008 17:08:43 +0000

@val: Thanks for the in-depth comment … much appreciated.

By: Ben Yoskovitz

Ben Yoskovitz — Mon, 23 Jun 2008 16:08:43 +0000

@val: Thanks for the in-depth comment … much appreciated.

By: val

val — Thu, 05 Jun 2008 18:01:49 +0000

Ben,
I rarely leave comments but this is such a great post i had to drop a line and say thanks. While the adage of "there is no such thing as an original thought" is partially true what there IS is new WAYS of saying the same thing that put a new perspective on them (if you dont believe me just see how 90% of great punk songs use the same chords). As such, this post is now required reading for my friends and coworkers in the startup world. I might suggest a few additions to the list:
1. James' point in #9 above. I think im going to incorporate this into my Angel/VC pitches, especially to imply that even in a worst case scenario our data and ability to market the value of that data to acquirers will minimize investment loss.

2. Data that you collect now and have no new idea what to do with might become VERY valuable in the future if you have new ideas or change direction. Data you dont know what to do with is almost MORE valuable because, as you say on another post, it becomes part of the puzzle of the startup equation. I think this is especially true since there is more and more data available and tools and thought paradigms for how to deal with that data always lag behind the explosion. This is why i keep even as much personal data (like browsing history etc) as i can.

3. The less obvious it seems your startup is "data reliant" the MORE you need to think about data and occasionally bring it top of mind. Thinking about data and how to collect/analyze it alot in a seemingly non-data oriented business i think could be a significant source of competitive advantage. (and i think VCs would like this view)

4. Every time your product changes, you add/remove a feature, you form a new partnerships, or anything else changes i think it is a good exercise to put on the data hat and think "ok how will this change our data strategy?"

By: val

val — Thu, 05 Jun 2008 17:01:49 +0000

Ben,
I rarely leave comments but this is such a great post i had to drop a line and say thanks. While the adage of “there is no such thing as an original thought” is partially true what there IS is new WAYS of saying the same thing that put a new perspective on them (if you dont believe me just see how 90% of great punk songs use the same chords). As such, this post is now required reading for my friends and coworkers in the startup world. I might suggest a few additions to the list:
1. James’ point in #9 above. I think im going to incorporate this into my Angel/VC pitches, especially to imply that even in a worst case scenario our data and ability to market the value of that data to acquirers will minimize investment loss.

2. Data that you collect now and have no new idea what to do with might become VERY valuable in the future if you have new ideas or change direction. Data you dont know what to do with is almost MORE valuable because, as you say on another post, it becomes part of the puzzle of the startup equation. I think this is especially true since there is more and more data available and tools and thought paradigms for how to deal with that data always lag behind the explosion. This is why i keep even as much personal data (like browsing history etc) as i can.

3. The less obvious it seems your startup is “data reliant” the MORE you need to think about data and occasionally bring it top of mind. Thinking about data and how to collect/analyze it alot in a seemingly non-data oriented business i think could be a significant source of competitive advantage. (and i think VCs would like this view)

4. Every time your product changes, you add/remove a feature, you form a new partnerships, or anything else changes i think it is a good exercise to put on the data hat and think “ok how will this change our data strategy?”

By: 5 Things That Keep Me Awake At Night

5 Things That Keep Me Awake At Night — Sun, 01 Jun 2008 18:34:50 +0000

[...] that have multiple ways of reaching the same conclusion. There’s no one absolute answer to a successful startup, but there are still a million pieces that all have to fit together properly at some point. [...]

By: James Christensen

James Christensen — Sat, 10 May 2008 02:06:07 +0000

It's amazing how much data is worth when looking to sell your company as well

By: James Christensen

James Christensen — Sat, 10 May 2008 01:06:07 +0000

It’s amazing how much data is worth when looking to sell your company as well

By: Ross

Ross — Tue, 06 May 2008 03:56:10 +0000

Long time back I found it myself that Data is Money. I am pretty happy that I am getting pretty successful from it. Collecting data is not easy task but you will get reward profoundly once you manage it wisely.
I agree this is very important discussion in this blog.
Thanks

By: Ross

Ross — Tue, 06 May 2008 02:56:10 +0000

By: Jonathan Frank

Jonathan Frank — Mon, 28 Apr 2008 00:05:22 +0000

I actually just set up all my data collecting software a few day a go and the data has not been collecting long enough for me to make heads or tails of it yet.