Monthly Archives: February 2015

Building Startups When You’ve Got Little Time and No Money

TMBA276: Building Startups When You’ve Got Little Time and No Money
Date: 2015-01-08
Link: Tropical Talk Radio
 
Tropical MBAJust because something is a good idea doesn’t mean it is a good idea for you.
A software startup is a really hard thing to bootstrap.
Know when to quit.
How it looks to the customer is the only thing that matters.
If your business is not appealing to investors it is probably a pretty good sign it is not a decent, scalable business.
Have unique IP or something that is really hard for competitors to copy.
Retention is definitely a challenge with a services business.
Brands should be conversational.
Just because you’re successful doesn’t mean you’re smart.

When to Consider Outside Investment for Your Startup

Episode 211 | When to Consider Outside Investment for Your Startup
Date: 2014-11-18
Link: Startups for the Rest of Us
 
Startups for the Rest of UsBook: Zero to One
Book: Venture Deals: Be Smarter Than Your Lawyer
Problem/solution fit occurs before product/market fit.
Investors are looking for a way to accelerate the value of their money.
If you’re just coming on the scene and you want to solve a problem for a group of people you’re going to need traction to be taken seriously.
You typically want to take smart money (as opposed to dumb money).
Don’t take money from a first time angel investor.
Funding allows you to get somewhere faster.

Key Takeaways from MicroConf Europe 2014 & DCBKK

Episode 210 | Key Takeaways from MicroConf Europe 2014 & DCBKK
Date: 2014-11-11
Link: Startups for the Rest of Us
 
Startups for the Rest of UsNobody is ever fired too soon from a job.
You get reinvigorated when you step away from work for a long time.
The missing features at launch don’t matter to anyone but you.
Ship it before you get to that comfort zone or else you will never ship it.
A lot of your happy customers you will never hear from.
The reasons customers tell you they love you should be in your headlines.
You can learn a lot from the misuse of your features.
When choosing metrics always ask, “What is the biggest constraint right now?”
Pick one marketing channel and focus on it for a three-month sprint.

How to Run A Successful Webinar with Brennan Dunn

Episode 209 | How to Run A Successful Webinar with Brennan Dunn
Date: 2014-11-04
Link: Startups for the Rest of Us
 
Startups for the Rest of UsRealize what the goal of the webinar is both for you and the audience.
Even if you’re trying to sell something the webinar should be valuable in its own right.
If they’re not ready to buy now they might be ready to buy later. If you turn it too much into a sales pitch then they might get turned off and you lose them as a future customer.
The target audience should learn something.
Hangout On Air for webinars. It automatically records everything.
Give people something of value immediately.
(On signup page) don’t have too much stuff that is keeping people from opting in.
Showup rates are very, very minimal.
You need to get people excited.
There needs to be some sort of urgency factor.
You need to have an event that is informative, educational, and, most importantly, really ties in with the product you’re trying to sell.
If you have a small list it might be helpful to turn off the autoresponders and email people manually.

How To Productize Your Service with Brian Casel

Episode 208 | How To Productize Your Service with Brian Casel
Date: 2014-10-28
Link: Startups for the Rest of Us
 
Startups for the Rest of UsA productized service is one that runs systematically and continues to grow with or without your direct involvement.
Look for businesses with money to spend.
Work on your business and not in your business.
The three steps to productizing:

  1. Standardize (Focus on one way of doing things)
  2. Streamline your processes
  3. Documentation

The most important thing (for marketing) is knowing your customer.
Talk to your customers and then use their language on your landing page.

How Should an Entrepreneur Invest $50,000?

TMBA275: How Should an Entrepreneur Invest $50,000?
Date: 2015-01-01
Link: Tropical Talk Radio
 
Tropical MBAWhen you’re an entrepreneur you’re planning on a future you can’t predict.
Staying flexible (having cash on hand) as entrepreneurs is really important.
If you have the impulse to spend money make sure you’re spending it on an asset.
Start a customer-funded business.

When You’ve Built Yourself a Job Instead of a Business

TMBA274: When You’ve Built Yourself a Job Instead of a Business
Date: 2014-12-11
Link: Tropical Talk Radio
 
Tropical MBAWith physical goods your margins aren’t going to get any better so set them great at the beginning.
Make sure your cost of goods is 25% of what you’re selling for.
You’ve got to know when you’ve got a flawed business model.
Don’t turn off the pipeline.
Hire somebody on the capacity side and focus on the pipeline side yourself.
Always focus on the pipeline. It is going to be the lifeblood of your business.
Optimize for interesting.
You have to have several entrepreneurial moments. You can’t just have one at the beginning.
Living broke is a great life skill.
The difference between a job and a business is a set of processes that repeat and scale.
Take less salary so that you can reinvest and grow the value of your asset.
The personal income trap doesn’t get any easier as you go along.

Stories From a Remote CEO

TMBA273: Stories From a Remote CEO
Date: 2014-12-04
Link: Tropical Talk Radio
 
Tropical MBAWhen you’re traveling set expectations with the people that are at your office.
In your office you want to feel needed.
After you figure out you’re not needed anymore you want to be wanted.
In the future people will understand a lot better than in the past what it means to be physically present.
The CEO has got to be the leader.
Own as much of your time as possible.
There are all kinds of opportunities out the door.
Try to own the creative hours.
If you feel like it is time to get out the door then get out the door.

Is It Getting Harder to Grow a Successful Business Selling Info Products?

TMBA272: Is It Getting Harder to Grow a Successful Business Selling Info Products?
Date: 2014-11-27
Link: Tropical Talk Radio
 
Tropical MBAInfoproducts are strong today and will continue to be into the future.
There is no better motivation that customers who have already paid for the product.
Have sales always be present but never pushy.
Be assertive about promoting your content.
Make your site very easy to follow so people don’t get overwhelmed.
The bigger the pool of available information the more important it is to have a teacher or someone to guide you through it.
It is a slow, steady process.
Book: The One Thing by Gary Keller

SEO tips with Dave Collins

Episode 207 | SEO tips with Dave Collins
Date: 2014-10-21
Link: Startups for the Rest of Us
 
Startups for the Rest of UsGoogle Authorship is about connecting content people wrote with the people that wrote the content.
Submit your pages through Google Webmaster Tools as soon as you post it.
You can’t fight Google.
If you create good quality content that is relevant to your target audience you can’t go wrong.
Google Keyword Planner
The golden rule is good content, original content, and it has to be of interest.
Most searches are because people have a problem.
If you create some really great content use it for its best possible use.
Moz.com is a good starting point.