Most Popular
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How do I determine how much $$ to raise?
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determine what your expenses would be for a year and add 25%.
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What's the best advice you can give to a college student wanting to startup his own company?
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just do it. Stop thinking. Just do it. Stop thinking. Just do it.
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When to add a biz model ? Some users say they will pay while others say it give value and unique , yet it's too soon. For us having payed users is a validation to attract investors for a seed round. Thanks, Sharel
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charge them now. Have different levels to ensure that everyone gets the value that they want. The freeloaders should get a much reduced value than the paying guys. Look at dropbox (2GB for free; 50GB if you pay). Great example of creating dual citizenship.
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Just learnt a ton from your 94 answers. Thank you for that. In one Q, related to 'outsourcing developers', you said it's possible so as long as you have a strong technical product manager. Let me take this one step further: in your opinion, how likely would a startup succeed if the lead PM is a brilliant, user-facing idea generator but has ZERO technical (coding) experience?
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I dont think that the PM alone will determine the success of a startup, but having a product manager that IS technical adds amazing value. The problem is that the code you receive from the outsourced vendor cant be verified for its quality without having someone who is technical.
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Looking to get bloggers and publishers to join <a href="http://publishedin.com">http://publishedin.com</a> . Any advice?
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Fish where there are fish. Go to conferences, participate in publisher communities, etc. Its all about the hustle.
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What do you think of companies that tout themselves as the next "facebook for dogs" etc. Good or bad idea?
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Its easier to explain what you are trying to accomplish by making it connected to something folks know. Its how our brains work. Its easier to just assume a chair is a chair, rather than having a huge description of what that thing with a seat, back and four legs are…
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What is the secret to getting people to talk about your product?
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build relationships with bloggers and folks that tend to make noise. And build an amazing product that people like to use and share.
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How to find user requirements for a lean startup?
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Not sure how to answer. A lean startup is defined by one that spends enough time figuring out product/marketing fit that they arent burning cash in random ways.
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I have only owned service companies and am looking to start an online company for the first time. What are the first five things I should be doing?
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1) find an interesting problem 2) find people that want to pay for it 3) repeat #2
Running a services business is about service; whereas an internet company is about the market first and the product second. Spend time figuring out exactly who your customer is and what you are building for them.
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I *think* there is a market for something on the net. (a service) But how can I find out for sure?
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ask potential customers.
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Which segment of small biz are more likely to use social media as a sales channel ? (not marketing , but actuall 1on1 sales via social relationship )
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SMM = ABC. (social media marketing = always be closing). Since SMM is really about constant communication with your community, then you should always be in a state of closing – NOT SELLING – with your community and potential community members.
What does that mean in practice? Solve problems, answer concerns, provide solutions (problems have a cause, solutions might not be self-evident).
If you want a direct answer, I say florists.
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What is the best method to perform alpha testing? Are there any reliable websites which can give access to alpha testers?
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Not sure of the question, but usertesting.com is pretty cool.
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How should I deal with critics?
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embrace them. listen to what they are saying, rather than how they are saying it. Work to turn a critic into a fan. If they are criticizing to criticize, then ignore them.
And prove them wrong.
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Do you think a startup can be done succcessfully if it's done "part time" while the founders have real day jobs?
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for a short period of time, yes. At some point, you have to commit to the startup, especially if you are going to ask investors to commit to you.
Its hard to have a part-time girlfriend, at some point you have to focus on the relationship. Same story with startups.
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How do i manage customer service online? Emails, forum or ticketing system? Which tools work best?
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getsatisfaction and snapengage. all you need.
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What are the secrets to a great pitch?
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1) Show that there is a problem 2) Show that there is a solution 3) Show that you have the best solution 4) Show that you are the best to execute that solution 5) Show how the investor will make money 6) Explain how much you need and why 7) Ask and shut up.
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Hi Micah, I'm demoing a working prototype to a potential client next week. Naturally, I'm interested in feedback regarding the features, the value proposition and how do I make them an early adopter. Can you please suggest some questions that I can ask the potential client. Thank you !
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No one is ever mean face to face (well, except me). Ask them what they would replace your product with. Ask them if they were to pay for your product what would they pay. Those are both great questions to start with.
Ask them if they could remove the worst part of their job, what would that be.
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Do you think SXSW is a good place to launch a startup?
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Hell no. Its the hardest place now, since a billion stupid little startups are all trying to use SXSW to launch, and most startups are clustered around similar ideas. At SXSW, its all location, events, parties, networking. Have a startup focused in those areas? I bet a dozen just like you are trying to launch at SXSW.
Fish where the fish are, not the fishermen.
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What is a good way to start a personal training business? I also plan on owning my own gym
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get customers? I would find a few clients to get it started, do an amazing job so they bring in more, and go from there. Sounds simple, but its not. Perhaps hang out at other gyms and chat with folks.
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When is the right time for founding partners to start paying themselves a salary (albeit probably a meager one) in a business startup?
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right before the eviction notice.
I cant answer that. Its really up to the founders and their needs. My belief is that you shouldnt live like a pauper, but you should feel pain.
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Secret to success?
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stop worrying about success; start focusing on laughing.
Sounds stupid, and it is, but its also 200% true sometimes.
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If I chase investors wont that make them think im desperate?
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depends on what you mean. If they dont know you exist, then they wont think of you at all.
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What does a good investment deck look like?
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6 slides. Be able to explain your entire business in 6 slides.
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