I been developer/internet product guy for 15 yrs
After spending alot of time interviewing developers for many years. I think the next thing to do is to find a problem to solve. Make it open source so you potential employer can see the code thats being written. Be prepare to discuss how he has chosen this way of solving something over another.. Be passionate about the stack that he is working with also helps alot!
I'm on a 50K & 100X journey
There are always two ways to look at any opportunity: 1. It can't be done Vs Why it can't be done? 2. It ain't feasible VS What should be done to make it feasible? 3. Value Vs Profitability= How to achieve the critical balance? 4. Approach, just like David vs Goliath. Is it too big to hit or too big to miss? In my more than a decade of experience I've seen how you approach and react to a given situation determines your future. Act, just not react. Feel free to reach out for any specific input.
Serial Entrepreneur
Execute. Is there a critical mass of value that someone will care about the problem you are solving for them? The size of the problem you are solving and well you solve it generates the value. That then dictates what (if anything) you can charge. The number of people who have that problem defines your market size. That might give you an indication of the type of business/startup you have - is it a high growth startup, or in the case of a problem being solved where the market is not very large, maybe it's a life style business. Pete Thiels excellent book from last year talks about this and is certainly worth a read http://ajs.io/bookzerotoone. Wikipedia says: A business model describes the rationale of how an organisation creates, delivers and captures value. Or in my words: your business model is the way you profit from the value you create for others. The good news is, starting simple has lots of benefits to usability, UI, message to market and capturing your first 100, 100, 10,000 users or customers. Go-to-market is where many startups fail most, not the technology, so that is something you should focus on and simplicity -provided your idea is part of a bigger vision- is a great place to start.
Clarity Expert
You need to Look At Allstate's Contract that is a question for them a business can own a business look at Terminix they own 23 other companys
Clarity Expert
Hello - Currently, as part of the Startups.co consulting team, I guide entrepreneurs through the financial modeling and investor presentation process to help turn their great ideas into successful businesses. Your anti-bullying program caught my attention personally and lead me to your website. Your communication platform is an action-oriented solution. You have proof of concept and are currently in school systems. Every school district in America should want to adopt your program. With the school district though, the first thing that comes to mind is funding. Can you determine how much this program cost on a per student basis for a particular school district? The marketing strategy could be 'how can you not afford to do this?" I took a moment to searched "bullying and school boards" on the internet. Many school boards came up in the search that are addressing this issue. I would approach those first. You have a website that quickly explains the solution. Now prepare something to explain what it will cost. The decision-makers have the two pieces they need. I hope to soon see your program in every school in country! Feel free to call if I may help in any way. Wishing you the very best. Jacquelyn
Small Business
5
Answers
Texas Eviction Specialist, Property Management,
Consider looking at how a pizza delivery service works. If they order the product online some automatically charge a service fee to initiate the service. You could charge a fee based on mileage from the store or a flat fee/percentage. Make it tip based as well for the driver. Of course you have to pay them a wage (the driver) put they will be taking tips which could help you even more considering they will typically show more customer service skills if they understand their income is based on tips. You may not actually make any money on the delivery. It could actually be a break even venture just to fill the gap in an area that one one else is doing. The approach is to get the word out that you do it and it's a form of advertising for your store. I have several businesses within my business. Two or three or not profitable at all. But these two or three businesses drive triple the income to other services where I do make a large profit. Ultimately I'd suggest sitting down with employees and doing a mastermind meeting. Offer say $100 To $250 bonus to the best idea. I will say it again. It's not always about making a profit on every thing you do. People offer services and products for sale to get them into the business. Eliminate as many expenses as you can by having drivers provide their own car and get some of those delivery signs they can put on their car like pizza places do. Again, it's a great way to advertise and fill at need at the same time. One last thing. There is a company called Campisi's Pizza in the Dallas, Texas area. Their website is a perfect example of a delivery website, service fee and figuring a tip and paying that tip on the initial order. Good luck and much success. b
Tenacious int'l legal & business advisor
The answer to your question will depend on many factors that are not clear in your question: what is your nationality? do you hold an EU passport? What is your budget range? What is your risk profile like? Expected/desired ROI? What is your present age and retirement timeline? What is your preferred retirement weather (Helsinki and Dublin will, of course, be much different than Athens and Madrid)... That said, there are too many "expert sources" predicting best bets but some good sources I've come across and based on my knowledge and travels through Europe are the following: Good brief overview of hottest (Budapest, Hungary comes in as pick #1 for 2015) http://www.irishtimes.com/business/commercial-property/dublin-is-second-best-city-for-real-estate-investment-1.2066009 More in depth analysis of European real estate market with Berlin coming in as pick #1 (see page 29, Chapter 3 "Markets to Watch" http://www.pwc.com/en_IM/IM/publications/assets/emerging-trends-in-real-estate-europe--2015.pdf Also citing Berlin as #1 http://ee24.com/articles/europe/the-best-cities-in-europe-for-real-estate-investments-2015/ Hope this helps a bit in making a decision.
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So are you trying to calculate their possible ROI? Roi is simply profit divided by expenses such initial investment and both fixed and variable expenses. To calculate a buyer of lead's ROI i would aim to average out the cost of leads package versus their average product sold to these leads. And simply follow that formula. You can use this roi % for marketing purposes but without other data you shouldnt use it as a tool for their measurement. With that said you can also assume the average out the a firm's hourly caller salary, assume the average time to close/how many leads per hour and how many sales per hour from those leads. The cost per caller plus leads used that hour can give you a good Hourly or daily RoI for leads sold to a client.
Business Advisory
8
Answers
Clarity's top expert on all things startup
Standard here is 1% with a 12 month vest, assuming the kind of involvement you're describing. message me your email on Clarity and I'll send you the standard docs which also spell out involvement. I've answered this exact question before so I would suggest to all new Clarity members that you use the search to see if the answer to your question already exists. I would caution you that an advisor shouldn't be responsible for things that fall into the "execution" bucket.
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Not really. A startup's need is always revolving around what the founders can pull off- how creative and how shameless you are. Lets think outside the box here: If you absolutely have to market during a break, follow your potential users. Showcase at events, attent clubs, the beach, go to the destinations even in Mexico where a lot go to and ghand out download cards with codes. Go to hiking places and leave then in their cars so they find them on their way home. Go the places where the app would bring more value to them if they downloaded in that moment.
Clarity Expert
We have used Fundable.com successfully for two rounds of financing both oversubscribed. Here is what I can tell you. Basic info: Fundable.com's platform connects accredited investors to startups seeking investment capital. Startups have a public facing profile that includes general information about the companies product, team, press accolade, etc. If you are raising funds claiming SEC Reg D 506(b) the public profile has no information about your securities offering. If an interested investor wants to view more information about your startup and or your offering, he/she would request access to your full profile. The investor must self accredit on the Fundable site before they are allowed to view your non-public profile. The startup is notified and you have the opportunity to conduct some due diligence on the investor (LinkedIn) and elect to invite them into your deal. Your private page includes the offering (terms). All communication from this point is done outside of the platform, meaning you have the investors email address ( a good thing to have). Fundable charges startups a flat monthly fee to post a profile on the site. In addition you can opt for additional services (help) with your campaign. For a flat fee, Fundable will assign resources to help build your profile, consult with you on your raise, and assist with PR or Marketing. This includes a blast to their investor base of over 40K if my memory serves me correctly. I am sure it is higher today. Our experience: For our first round on Fundable, we elected to use the premium service. Fundable did a great job in helping with our profile. We received 50+ views per day (quite often 100+) and on days we were included in their newsletter we received 200+ views. 10 - 20% of views requested access to our full profile. and 10-20% of those responded to my request for a call. Our close rate was very high. Both of our rounds were oversubscribed in less than 4 months taking averaging $50K per investor. These are high quality investors that have not created additional work (outside of normal investor updates). Many of our investors regularly share news and information about our industry. Several have re-invested in subsequent rounds. Disclaimer: Our startup is in the consumer hardware space which I believe tends to attract high net worth individuals. Obviously results may vary, thus I cannot speak to how well a SaaS play would do crowdfunding in general. Fundable.com's premium services offering may have changed since our campaign. I am not affiliated with Fundable.com. In fact we have been successful on other crowdfunding sites as well. In Closing: I am a proponent of crowdfunding in general. It is disrupting angel investing, providing investors with greater deal flow and exposing startups to an exponentially larger audience, increasing their chances to get in front of investors who understand and appreciate that company's solution and opportunity. Most importantly it is moving capital and driving innovation! Keep in mind, securities laws have changed and continue to change due to the Jobs act of 2012. Before you offer any securities to local investors or choose to try crowdfunding, you should consult with an attorney, and take the time to learn and understand what regulations apply to your circumstances.
Internet Business Acquisitions/Valuations Expert
This is a question that requires far more than a simple 10-minute answer, as due diligence is an extremely complex subject and only having a few "quick tips" would put you in a very vulnerable position. Generally speaking though, the key areas that you would want to focus on (depending on the type of the web business that you're about to buy) are: * Financial verification - make sure to verify all income and expenditure, and never rely on screenshots or video proofs, as these are easily faked. Always require either live access to accounts/books or schedule a real-time screen sharing session with the seller. * Make sure to fully understand the business model and its sustainability. This is easier said than done but it's perhaps the most important aspect of DD. You need to be able to make sure that the business is an actual, viable and sustainable business, rather than a fly-by-night website. I've written about this in length here: http://bryanoneil.com/the-most-important-website-due-diligence-question-that-buyers-rarely-ask/ * Take a very thorough look through the site's analytics (preferably you should request live access to its Google Analytics account) and make sure everything is in order. Also take a thorough look through the site's traffic sources and ensure that they're sustainable. * Validate the claimed owner responsibilities so that you wouldn't end up buying a business that's actually a full time job. Sellers often misrepresent this part so it's important to perform a sanity check and ensure that the claimed hours match the reality. But as I said, there's far more to due diligence than that. I've published a fair number of articles about this in my blog (http://bryanoneil.com) that you would probably find useful, but I would still recommend you to either do a lot of reading up on the subject, or to speak to a professional. As for trustworthy brokers - I'm obviously a bit biased here as I run a brokerage myself (Deal Flow - http://dealflow.flippa.com/), but apart from us the other two larger brokers are Quiet Light Brokerage and FE International. I'd recommend you to steer clear from brokers who either have too many listings (as that's an indication of sub-par vetting standards and therefore low quality listings), or brokers that haven't established themselves in the industry, as those newer brokers are rarely experienced enough to be able to properly validate the businesses that they list, and are often desperate to complete deals, leading them to intentional misrepresentation. Hope this helps! Bryan
Partnership & collaboration facilitator
Hi Manuel. While I have never structured partnerships between companies and DCA's, I have worked on many strategic alliances with govt agencies (or the like) and companies. Increasingly this is becoming more and more common. Which State are you in? It may be worth reaching out via your network to explore who the right people are within the org to discuss. From there you can get a better idea of where the real opportunity is for future engagement. Realize that these types of partnerships do take time but will be worth it in the end. Happy to discuss further if you are interested!
Internet Business Acquisitions/Valuations Expert
If you need funding for your business one way or another then I don't see anything being wrong with having your client on board as an investor. Not only do they already know about your business, therefore saving you a fair bit of time and effort that you'd otherwise put into pitching your business to outside investors, they (likely) also have some first hand industry experience, which is probably going to be an asset for the business. Cheers, Bryan
Partnership & collaboration facilitator
Have you started by finding a few mentors in this space you could speak to? Those who are already working in accessories and/or apparel? Understanding the investor landscape may be helpful before you set out on your journey. I have worked with a couple of startup sustainable apparel brands and find crowdfunding a great first step. Telling the story is equally critical, especially if there's a social dimension. I would also recommend being very clear about your audience/market. Happy to chat further!
Personal Branding
10
Answers
Partnership & collaboration facilitator
I face the same challenge! I came up with a separate name that still represents my brand but doesn't force users/partners/clients to try and remember my complicated name.
Internet Business Acquisitions/Valuations Expert
No need to re-invent the wheel, especially considering that there are (hundreds of) thousands of people in your exact situation. Check out a few of these: http://www.forbes.com/sites/allbusiness/2014/09/26/which-e-commerce-platform-is-the-best-choice-for-your-online-store/ http://www.quora.com/Which-ecommerce-platform-should-we-use http://www.cio.com/article/2449485/e-commerce/e-commerce-6-top-ecommerce-platforms-for-do-it-yourself-small-businesses.html There are many more. The short answer is that it depends. It depends on your tech skills, on whether you're happy with "out of the box" functionality or need anything custom, on what's your budget allocation, etc. etc. but the links above should give you a pretty good idea. Hope this helps. Bryan
Business Sales, Acquisitions, Blockchain, ICOs
An agency is an instant cashflow model business. Ugly to scale due to logistics of a team and the mess of being in a client-service business model. But easy to rapidly monetize. Make a phone call. Close a client. Collect the cash. (Yes, that's a bit over simplified). Your girlfriend shouldn't grab a dime from anyone before locking in her first client. An agency can be entirely self-funded and there's little reason to pursue funding. After she had generated her first $50,000 in clients (for example), she can supplement growth with debt financing. And, in no way, is the idea of your generous, retiring parents investing $70,000 into a first time business owner, when statistically most businesses fail ... a good idea. Fair rate is a flexible concept. If I was lending out $70k, I'd want to see 3x $210k back as a minimum. Irregardless of whether that is "fair"... it would be the minimum (for illustrative purposes) where the process of the due diligence and contracts and parting with $70k liquid in trade for a "maybe" $140k gain would be of interest.
Leader in Inbound-HubSpot to drive eCommerce Sales
How you handle customer service can have a major factor on how delighted customers are after the transaction. Even more important it can drastically impact your initial conversion rate. Buyers often look for "trust items" like a phone number, email or even a physical address prior to purchasing. The most inexpensive dedicated phone number can come from setting up a free Google Voice number. Have the recording identify it as your business and let they caller know when to expect a response (after 5pm, with in 24 hours, etc). Then you can call them back from your personal phone (you can block the number if you choose) at your convenience. With regards to email avoid the free YourCompany@gmail.com and opt for the website name to be after the @. This can be set up via GoogleApps or Go Daddy for $5/mos. Set up an autoresponder that assures them their email was received and lets them know when to expect a reply. Many customer service calls can be avoided by being proactive after the sale. Set up autoresponders that sends them the tracking number, directions for the product and even a video of how to use the product. Our experiences have shown that customers amerce more likely to read and watch the instructions via email prior to the package arriving. This cuts down on questions and ultimately makes for a more delighted customer. Finally avoid the urge to outsource customer service. This is customer feedback that you need. You can use it to improve your product and process as well as great content for FAQs and blogs. If one person asks you can be sure there are hundreds more with the same question. You want to be the one providing the answers and winning trust, traffic and thought leadership.
Branding, Naming, Patent Broker, Negotiation
First, please understand that you didn't "get" a provisional patent. Provisional patents are simply filed. They are not examined, and there is nothing to grant. All they do is establish a "Priority Date" enabling you to cite the filing in "Related U.S. Application Data" if and when you file for a utility patent (which, in due course, will be examined). Further, if you do not file within 12 months of the date on which you filed the provisional, your application will be deemed abandoned and you lose that priority date. Second, when industry people said they'd buy it, did they tell you at what price? Because without a price range, their statements, while earnest, mean nothing. Even if they knew the price, is that price sustainable and achievable based on fixed and marginal manufacturing costs? I don't know and neither do they. Third, you're correct that since you don't know the handtool market, and you have no desire to, you'd be crazy to stay involved. Nevertheless, if you were an inventor, why should you be cashed out now? Why shouldn't you hold on to a percentage for your contributions to date? I'm not saying you get the same share as the other co-inventors, assuming that, if they even get investors, they remain on in a meaningful capacity, but certainly you should get some share, representing your contribution to date. I also don't know how much time you have left before making a go/no-go decision on the provisional-> utility. Further, if all of this comes to pass, how are they going to sell it? If it's via e-commerce, rather than through traditional sales reps, WDs, and the like, then perhaps there is a role for you. Not enough information to say, but certainly a consideration. Bottom line: this product is certainly not assured of success. If you can be handsomely cashed out, you may very well want to take it. If you can't be handsomely cashed out, why should you accept nothing? You have the leverage and, depending on how much time you have left until the provisional expires, you may have time. If there's very little time left and you truly believe in the value, and you're willing to risk the $10K-$20K needed to patent this device, then list your co-inventors, cite the provisional and have an attorney write/file it. You may say: What about the rights of co-inventors? Here is where US Law becomes very strange. See: http://ladas.com/rights-co-owners-license-patent-rights/ -- but by all means, consult an IP attorney -- this is just so you know the basics of your rights. But basically this means that if you did file a utility patent, you could, without any other co-inventors' permission, sell to a different entity than they! Confusing? You bet. Last, while your post is professionally worded after the first sentence, please, for your own sake, never in writing should you, as a businessperson, use as a subject the egregiously wrong grammatical construction "me and my partners" (obviously, it's correct as an object). If you're going to be negotiating for equity or a cash-out with investors, you can't sound like a high school student sneaking a smoke in the bathroom. My partners and I -- impressions count -- and ell the more so when the error is the first thing I read or they hear! Someday you'll thank me for the tip even if you think I'm an ass for pointing it out. Good luck.
Business development, sales, and marketing guru
Happy to help with this and can probably bring lots of ideas to the table. Also, since LOCAL is the focus, you can't just use digital. Most of your bookings are going to come from local non digital marketing, but they will coincide with the digital marketing you do. The efforts need to be combined for effectiveness. If you are interested in a call please send me link to hotel's site so I can research before hand. OTA might not be the way to go. Happy to hop on a 10 minute free call to discuss further to see if there is a fit.
I Grow B2B SaaS. Clients: Hubspot, QuickBooks...
You dismissed the most important piece: the first place to start is the redirects. It will take work, but probably not nearly as much as you think. It can be done in a more dynamic fashion assuming the data used for the URLs was pulled from the database. I just helped a website with over 2 million URLs of many different formats create these redirects. In this case it was ahead of time, but we can map it out together if you need help. I know this is time sensitive and no one has responded with an answer yet, so if you need a call ASAP let me know and I'll try to flex around your time. We'll also briefly cover other strategies you should implement to get back in good stead with Google.
Retail customer and employee experience leader
The answer really depends on many factors. You are correct that many SaaS companies valuation falls into the range of 3 to 9 times revenue. I would say that companies that have a very high net income % (25%+) would fall more to the range of 7x-9x and companies that are closer to breakeven or low single digit net income percentages would fall to on the lower range. Also you need think look at how your company will be viewed from a competitive perspective. If you dominate your market but many many new competitors are entering that may discount the overall valuation. But if you are increasing market share within new market with little or no competition the future looks brighter from a valuation / cash flow perspective due to lower overall cost per acquisition of new customers. Hope this help. Let me know if you need anymore help.
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Im not sure if i understood your question, but here i go: There are a few metrics that can be used (typically thought at MBA programs) but obviously accessible to leveraged investors through advisors and or legal aids. These metrics give an idea on value based on marketable assets, capital investments, liquidity, etc. depending on the startup's nature. Aside from the above, an investor pretty much decides on the spot. My first startup was funder out a simple idea being pitched and funding got me through beta, at which point we saw it was not worth pursuing. My second startup I funded myself after selling a company and then a group of investors valued the startup based on users (freemium model) and potential market cap. - for a market cap number you have to be reasonable too. Just because the market is worth 100billion doesnt mean you can cap at that.- Depending on the amount you ask for and who you pitch to, an investor might want to do a combination of revenue, users, assets, patents, contracts, pre orders, etc... If you need help crafting a pitch or giving you feedback give me a call. Best of luck.
I'm on a 50K & 100X journey
If your business goal revolves around raising the entry barrier then, I believe, you need to stop and think twice. Focus on "How" to deliver utmost value at best possible price. The underlying intent should be to achieve uniqueness and differentiating yourself from the usual suspects. The differentiation should be in a positive way than vice versa. And, if differentiation is what you decide to achieve then positioning is that something you need to focus upon. If positioning becomes your focus then branding is that one thing you would be required to think about. You do that in planned manner with robust execution plan, along with right team members, and you'll end up raising the barrier to entry to new threshold. It sound simple but practical execution requires pragmatic thinking. Hope above helps. Need any help further? I am just a Clarity away, ready to share my mode than a decade of capability, experience, and competency.