The risk of working on an idea nobody needs is the most common startup killer. Instead of asking for feedback on your idea, putting people in an awkward place of trying to help you out, you better just ask them about their problems and try to see how your idea can help them. Their problem […]
Archives: Startup Tips and Strategy
Useful advice to get you started and reach success
At any stage of your startup, there is one specific thing that most of your energy should go to – raising money, development, adding a feature, talking to new types of clients. Always make sure you decide on what it is, and put the majority of your time there.
Many of the mass services require an internal trigger to happen in orders for users to come back to the service. What are yours ? ( example, using facebook when you remember your ex girlfriend, go to booking.com before booking a flight)
The value of your network= Your network quality * What you have to offer If there is nothing you bring to the table, the best connections are useless. Have an ability to create value through a great service, the ability to connect people, help, an idea worth spreading, or something you really need. Source: TMBA Podcast
As boring as your lawyer and accountant might seem, they are usually well connected to people who are looking to diversify their investment portfolio (angels). Lawyers and Accountants are trusted by their network of clients, so a referral from them is a nice push to securing funds.
Investors follow investors. It will be much easier to get the next investor on board, once they see somebody else already put money.
In addition to that, when you talk to investors, they pick up on your self confidence signaling. If you already have an investor, you will talk differently and your body language will be different. They will pick up on that. Nobody wants to be the only person that puts money in a project, if they […]
Although it seems that 3Fs (Friends, Fools, Family) are exactly the people you want to avoid when raising money, it might not be the case. Today, as the lean startup approach becomes popular, you need low amounts of money to actually a prototype. Professional investors would like to receive proof of traction and demand and […]
Say yes to your first clients, even if you are not 100% on how to deliver. You will figure it out later.
So, here goes, you have done a lot of marketing, you know people and know people, good karma intervened and sent you a client that is ready to work with you. You might not have the product or service ready, there might still be holes and problems in the model, but say yes. Commit to […]
Never stop thinking and brainstorming about trends that affect your business. Make a habit of having strategic talks alone and with others
Nutshell: Think frequently about new development that can affect your business model, everything keeps on changing: Technology, Economic cycles, Social trends, competitors. We rarely take the time to think about the changes that surround us while managing our business. We are so into the internal factors, and sometimes ignore the external factors mentioned at the […]