It’s a mystery. Your sales and marketing expense has been over budget for months, but you’re missing your revenue projections. You’re burning far more cash than you had projected just a few months ago. And yet, your CFO and VP of Marketing assure you that the ROI on your marketing spend is best-in-class for your industry. How can that be?
In my work with venture-backed startups seeking a path to profitability, this is a common fact pattern when I start my initial assessment of a company.