Monthly Archives: July 2016

One For the Writers

TMBA322: One For the Writers
Date: 2016-02-04
Link: Tropical MBA
 
Tropical MBAWork on your monetization streams.
Work on your keywords for SEO.
Work on your writing.
Putting terrible photos on a post looks crass.
It is all about prioritizing.
What one person thinks and what is important to another are different things.

13 Signs You Should Kill an Idea You’re Validating

Episode 262 | 13 Signs You Should Kill an Idea You’re Validating
Date: 2015-11-10
LInk: Startups for the Rest of Us
 
Startups for the Rest of UsCelebrating your goals adds longevity to what you are doing.
Validation is not something you should just do once at the very early stages of building a product.
The more you talk to people the easier it gets later on.
99 times out of 100 you will not get the value proposition right the first time. It is just too ambiguous until you have talked with dozens of prospective customers.
It is really hard to develop a two-sided market as a bootstrapper.
If you can’t get somebody to pay you up front then you really have a problem.

Productized #3 – An Expert’s Advice

TMBA321: Productized #3 – An Expert’s Advice
Date: 2016-01-28
Link: Tropical MBA
 
Tropical MBA(Productized services are when) use choose one thing you can do over and over for a broad range of clients and charge a flat fee for it.
It can seem very limiting to stop doing 80% of what you do and start focusing on 20% of what you do but that is what enables you to have something to sell.
One thing that freelancers lose (when starting a productized service) is jumping on the shiny new thing.
Focus until it hurts.
You can get hung up on building the product. You can spend too much time on that before getting in front of customers.
Launching a productized service launches your brand.
One of the things about entrepreneurship as a career is that you are building a skillset that transfers.
Look at who is the customer you are trying to serve and what is a top priority problem they have that you are also qualified to build a solution for.
It is really easy for entrepreneurs to get lost in the weeds.
Entrepreneurship isn’t about knowing the right things. Entrepreneurship is about doing the right things.

How Do You Decide When Enough is Enough?

TMBA320: How Do You Decide When Enough is Enough?
Date: 2016-01-21
Link: Tropical MBA
 
Tropical MBAMost people will never say enough is enough when it comes to money.
You can’t get better at things if you don’t invest more things in them.
If you want to build meaning you’re going to have to give energy to it.
Fire the clients that are difficult.
Ask yourself what you expect of yourself.

What is the One Metric That Matters?

Episode 260 | What is the One Metric That Matters?
Date: 2015-10-27
Link: Startups for the Rest of Us
 
Startups for the Rest of UsTracking one metric encourages focus.
If you look at too many metrics is just becomes noise.
If you are pre-launch the a good metric is how many email addresses you can get on your list.
You want to be identifying metrics for a very specific reason.
If you don’t have a timeframe then it is a vanity metric that is worthless for the business.
If you are able to compare (the metric) to other time periods then that is when it becomes meaningful.
The metric has to change your behaviour.

The Mind Game of Making Over $100,000

TMBA319: The Mind Game of Making Over $100,000
Date: 2016-01-14
Link: Tropical MBA
 
Tropical MBAIf you are having trouble generating $100,000 in revenue for your business the place to look is your mindset.
If you’re having trouble getting to $1,000,000 in revenue the place to look for the problem is in your marketing.
If you’re having trouble getting beyond $1,000,000 the place to look is your human resources.
Stop trying to turn the Internet into an ATM machine and just build a business. Build something that people want and provide value to them.
The first thing to be successful as an entrepreneur is to create your own structure.
Talking about success can sometimes be taboo.
Everyone needs a competitive advantage.
You can create an organization that doesn’t have a bureaucracy. You can create an organization that people are excited to work at.

Making Your First $2k from Products, Whether to Look For a Co-Founder, Rehabbing an Existing Product, and More Listener Questions

Episode 259 | Making Your First $2k from Products, Whether to Look For a Co-Founder, Rehabbing an Existing Product, and More Listener Questions
Date: 2015-10-20
Link: Startups for the Rest of Us
 
Startups for the Rest of UsYour work expands to fill the time you give it.
You have to pick and choose which battles you fight. Some will be worth it and some will not.
The last thing you want to do is learn on a big-time production app.
You don’t want to buy a company because company comes with liabilities. All you want to do is buy the product or the assets of a company.

Mentors – The Good, the Bad and the Ugly

TMBA318: Mentors – The Good, the Bad and the Ugly
Date: 2016-01-06
Link: Tropical MBA
 
Tropical MBAFind somebody you want to be like and go add value to them.
It is a very complex relationship.
Mentor is a word that is so used that it is meaningless.
Finding a mentor is an organic process. It is isn’t a handshake deal.
You have to be ready for opportunities as they present themselves.
Don’t maximize for income. Maximize for experience.
Don’t partner up with rich assholes. Just because they have something you want doesn’t mean they are living the way you want.
Mentors can be just as powerful in the middle of your career as they can be at the beginning.
Part of success is taking on responsibility.
Don’t assume that mentors are good at being mentors.

9 Common A/B Testing Mistakes

Episode 258 | 9 Common A/B Testing Mistakes
Date: 2015-10-13
Link: Startups for the Rest of Us
 
Startups for the Rest of UsIf you’re going to start A/B testing really figure out where you can make the biggest impact on your sales funnel. Don’t just randomly test things on your website.
Have a methodology that you follow.
Your test needs to run long enough to be statistically significant.
Having one hundred conversions coming through (is a good length).
Split tests are not foolproof.
Most test you run are not going to show significant differences.
You don’t want to ignore small gains if they are statistically significant.
Run one test at a time until you feel comfortable with it.
It is hard to learn anything unless you have a goal in mind.
Be careful you aren’t accepting everything as fact.