Finding the right value metrics and business model w/Vytenis Pakenas - CEO of Lucid Agreements

On today's episode, I sat down with Vytenis Pakenas, CEO of Lucid Agreements. His 15-year journey from multi-time startup founder to CEO is pretty amazing. Today, Vytenis stopped by the podcast to share some key learnings from his JobRely startup experience. From business model fit to finding the right value metrics to track, there's so much to take away from this conversation, so let's get started.

Here's what we discussed:

• How Lucid Agreements is helping to arrange meeting notes verbally, capture action
• items and assign tasks in tools like Jira and Asana
• Vytenis's journey from multi-time startup founder to CEO
• How JobRely got started and the inspiration of it
• The business model flaws when first launching JobRely
• How vanity metrics impaired the vision of JobRely early on and how they changed how they looked at data
• Why you shouldn't give too much away, because you have to capture value at some point to maintain a business
• Why marketing shouldn't be invested in until you have product-market-fit and a business model that leads to repeatable, predicatbale outcomes
• How overreliance on 3rd party tools can sink you business overnight
• Where the big pivot happened and why
• Why you should be thinking about profitability from day one and how that flies in the face of common startup advice
• The importance of tracking the right value metrics and why mentorship can help you figure that out
• How sci-fi novels can help you think bigger and broader toward disruptive innovation
• Why the ability to explain complex ideas concretely and concisely is a super-power in and of itself
• How listening to the market and your customers is the second super-power for product people

Connect with Vytenis: Vytenis LinkedIn

Connect with Lucid Agreements: Lucid Agreements LinkedIn

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