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Business Development

Looking idea for Edtech.

6

Answers

Laurent Gibb

Clarity Expert On Growth Stage Startups

Knowing your target market is a core part of your business plan and go to market strategy. Survey potential customers, find the pain points, offer them a solution which solves it and if they can't live without it you've got a winner. There may be some information online but this is a pretty important part of the process to get right and will require a lot of manual research so that you don't end up creating a product there is not a need for and making sure there are (enough) customer out there willing to pay. Good luck!

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New Business Development

why am i scared?

4

Answers

Laurent Gibb

Clarity Expert On Growth Stage Startups

Having been in the same position I can empathize. It's normal to be both excited and scared. There are risks but also great rewards in creating a successful company. Different people will have different ways of deciding when to go all in. My approach (which may or may not be applicable) was to de-risk as much as possible, i.e. get as far as possible with the MVP before being all in. Some important considerations were: 1. Having emotional/financial support from family/friends 2. Having completed all the go-to-market steps (even though the plan is never exactly how it turns out to be). 3. Getting comfortable with the financial implications e.g. investing my own money, not taking a salary in the first year, and the lost income. 4. Making sure it was the right time in my life to take such a risk. Ultimately it could be a massive success or... not If you fervently believe in your idea you will only find out if you try :) Good luck!

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi Great question, but it's really hard to answer without knowing what service you provide. Also, it really depends what percentage your talking about - if its low - I wouldn't waste time on it for now. I myself have personally wanted to use an online service which claimed to be free, and the sign-up deterred me so I just gave a wrong email address. If it's a once-off action on behalf of the user (for example converting a file), users are lazy and even something like giving their email deters them. I am happy to solve this issue with you, but I would need to get more details, following which we could have a short call to discuss the conclusions. Good luck

Jeff Charles

Clarity Expert

Who is going to use a company that allows their representatives to post spam ads in inappropriate forums? crazy

Clarity

Finding the purpose

6

Answers

JC Quek

Business Transformer and Shepherd

Almost every day people come to me to help him/ her find a purpose. Many had tried defining life mission, set SMART goals, develop strong passion, the law of attraction, you just name it ... but the outcome is unsatisfactory. There are a few challenges that keep holding them back: 1. the purpose seems to be incorrect after some times 2. unsure whether the purpose chose fit you 3. Too many choices, wanted to take up as much as possible 4. over concerns what is your life mission 5. unable to align current goals to your life mission 6. lack of imagination to visualize 20-30 years vision 7. excessive focus on setting a schedule to achieve the goals If you are facing the above, probably you need to consider looking for a robust framework that you can work on to a) find a purpose, b) progress smoothly. c) track progress. d) shape purpose, and e) create impactful values to bring more happiness to self and others. Please feel free to contact me if you need me to help to align your thoughts through a clarification session or a coaching program to develop the purpose using our Growth Framework so that you can achieve a) to e) above.

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

1. commercials / Advertising / leads. 2. In-app purchases of things that they actually need. 3. Freemium model - they only pay for extra services (like maybe you can have a dating feature or a business feature). 4. Offering complimentary services such as loans, help submitting forms, help before interviews and many other ideas. There are many more options. Happy to explain them on a call. Good luck I've successfully helped over 380 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at my reviews: https://clarity.fm/assafben-david

Aisha Owens

Clarity Expert

Hello! I would try job search engines such as Indeed. Also, update your LinkedIn profile and start making connections. Pick a company you REALLY like and believe in and follow them. Find people that work in that company doing what you want to do and reach out to them. Tell them you really admire the company and tell them your interested in setting up an informational interview at their convenience. Once you e made the connection and some the interview ask how one might go about getting an internship. They might be able to help you get your foot in the door. If you need any help on making connections please feel free to set up a call with me!

Joy Broto

Global Corporate Trainer & Strategist

It is all your decision because if you earn profit out of it people will praise you and if you earn loss people will criticize you. Your profile is great, I really love it as you have really earned so much in the business world is wonderful to read. Best practice product development processes are to use an Agile / Lean process but not to ignore the needs of the organization to oversee major financial investments and customer facing releases. Our product management and product definition expertise help firms do the right thing, while our Agile, high-performance teaming, and metrics knowledge helps companies do things right. TCGen’s product development consultants typically involve a thorough assessment of your organization’s needs. In a product development consulting engagement with Bio-Rad, we worked with the platform team to product design the next generation platform of diagnostic testing systems. With market research we identified a unique customer visitation plan and implemented it with not just the product marketing organization but with the entire cross-functional platform team. You can read more here: https://www.tcgen.com/product-development-consulting Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

Joy Broto

Global Corporate Trainer & Strategist

Clarity is the best place to find one, but as I can see from your question you are looking for more. Networking events are designed to put people in contact with one another, making these events perfect opportunities to expand your professional network. For example, there might be a start-up incubator with an open workspace where you can get some work done and still meet some new people in the industry, or else a weekly brainstorming meeting among creative minds at the downtown library. Through SCORE, you can request a free face-to-face meeting with a mentor to discuss your business idea and you may be able to form a more lasting partnership. You can read more here: https://www.entrepreneur.com/article/271908 Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

Jeff Charles

Clarity Expert

Call the customer service phone number at Square or use whatever support method they offer. I doubt anyone else can give you an accurate answer without more info. For example, what if you have a poor history on the platform or something similar...

Paul McDonald

SaaS product, sales, and client success leader

It's easy to get hung up on the word "strategy." There's no magic in it: a GTM strategy is just a documented set of decisions and a plan. It's words on paper, and the purpose of it is nothing more than alignment. To hit your sales, revenue, and margin targets, you've gotta get and keep everyone on your team aligned on what needs to be done, why, by whom, and when. A good GTM strategy document answers all the questions mentioned in other answers. Questions about buyers & pain points, budgets, product overview, competition, differentiation, pricing, partners, sales & marketing plans, success criteria, etc. A great GTM strategy, however, will inspire your whole team to row hard in the same direction and make some magic together. The way you engage your team (or don't) in the process of creating your GTM strategy, and the way you communicate it, makes all the difference. Give me a call if you'd like some help getting that right. https://clarity.fm/paulmcdonald

Joy Broto

Global Corporate Trainer & Strategist

When a property is available for sale, the world should get to know about that fact. Sometimes, the people in the know of your requisition might tell their relatives to consider purchasing the property. The more people that know, the lower the turnaround time of a property getting sold. The installation and usage of LED lights and smart meters in your property will increase its green quotient. A sustainable home on offer will certainly induce the buyer’s interest. You may think that home repairs are out of your league, but trust us, you can easily handle many of these activities. Not only does it help you save money in the process, but also makes your home ready for new owners. Getting them fixed as soon as possible would give your property an edge. You can read more here: https://www.99acres.com/articles/top-ways-to-get-the-best-value-out-of-property-sale.html Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

David Favor

Fractional CTO

Just like any other company.

Jeff Charles

Clarity Expert

It doesn't matter where the people are calling from and up to 8 other people can join the call. All you have to do is give those people the phone number and same access code.

Janice Bartel

I am in advisory & counselling for atleast 7yrs.

1. Quick & Easy Visual. 2. The buyer can visualize the final image of his/ her home faster when 3D interior design is used. 3. Image credits. 4. Cost Optimization. 5. Save energy & time. 6. Technical Clarity. 7. Holistic View.

JC Quek

Business Transformer and Shepherd

There are three questions to answer: 1. Are you selling a wonderful product or selling something people know and wanted to have? 2. Turmeric more valuable or the latte? What values are you driving? You are looking for customers to take latte enjoyment or turmeric for health or both? 3. If to bring the wonderful product to a market that doesn't know your product and thus shows no interest in it, how much money you have? If the answers for all the above three questions are unfavorable, I am very sure you had failed to have your product-market fit. Then your challenge is not above how to increase sales but how to sell the right product to the right customer. Feel free to contact me if you need help.

JC Quek

Business Transformer and Shepherd

I am in Singapore, help many e-commerce businesses grow sales 5x to 15x last year. One major challenge to the growth is cash flow. There are many factors to look at and these 3 major areas are critical: 1. Cash flows - you need to study the cash flows patterns (short-term, middle-term, and long-term) and develop a cash flow model for your business. Without this, you can't even tell when and how much money you needed + unable to identify business survival risk from cash flows perspective + to determine where is the trapped cash 2. Behaviour of the revenue and cost - this is essential to help you determine the break-even point, commitments, maximize profit, strategies to increase revenue and reduce cost, how much to invest in operation vs improvement of the business. 3. Capital structure - there are 3 main sources of cash, i.e. revenue, loan, and equity. There are other areas such as Government grants and donations which the impacts are not significant enough to focus on. When we talk about capital structure, we will look at what is a good mix of loan and equity to manage your business gearing risk. After you have the above 3 sets of information, you can determine how many loans to take up and how to allocation them to different aspects of the business. Do note that good cash flows management will improve your cash position, but to increase your sales, other techniques are needed but not discussed here. +22 experiences in helping +350 SG and Asia companies to grow from a startup to listed across many industries. We cover all aspects of the management of the companies, financial and taxation services, boost sales & profit, improve processes, and growth framework to grow companies. If you have any question, please contact me here or whatsapp +6596254931,

Joy Broto

Global Corporate Trainer & Strategist

I will suggest landing page. I clicked the link and I was not impressed. A landing page should offer all the necessary information, but not so much as to overwhelm the visitor. Provide the essential info that will interest your audience and nothing more. We just discussed how you do not want to information-smother visitors, but this isn’t to say you should be cheap with your content – on the contrary, provide rich, useful content, so long as it is relevant. The goal is to funnel visitors down a desired pathway, and if links serve as points of departure from the funnel, they should be used sparingly. Make it easy to convert. The goal is to make it as easy as possible for visitors to convert, providing as little distance and as few barriers as possible between points A and B. The next step should always be obvious. This strategy varies depending on what your desired conversion is. Information architecture comes into play here, as it is important for a landing page to have a clear, crisp design that leaves all questions answered without inspiring any new ones. You can read more here: https://www.wordstream.com/blog/ws/2014/02/12/great-landing-pages Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

Laurent Gibb

Clarity Expert On Growth Stage Startups

There are a number of different ways of reaching angel investors. First, identify the type of angel investor you are looking for. Then initially look within your own network, share what you are doing and you might be surprised. Next research where your investors hang out and try and be part of the conversation. Maybe there are incubators or accelerators that would be suitable and who can support you or facilitate investor introductions, meetings, and pitch events. Maybe it might make sense to seek a grant or get funding from a partner who would also benefit such as in the education sector? Another option that takes time is to find and connect to your investor audience through networks such as LinkedIn. You can then nurture those relationships over time, ask for advice, keep them updated, take conversations offline, and establish trust. Then probably after 6+ months of nurturing when you do raise funds, you should have earned a warm relationship that will allow you to approach them with regards to potentially funding your business. Warm intros are definitely the best approach. Once you have your initial investors keep building relationships and they may recommend new investors next time round. Worth noting with angels there is smart and dumb money and you may find that a coach/mentor from your sector provides more value compared to an angel who may be able to support you but on a more general high level. But as a rule of thumb always ask for support, your investors will usually provide, they are aligned with your potential success. Good luck!

Joy Broto

Global Corporate Trainer & Strategist

Let us treat your blog as a product. A product is usually faceless. People are skeptical about what you say about yourself or your product. Other kind of good testimonials is expert testimonials, but the expert needs to be somebody people know. The best kind of testimonials are video testimonials. Nobody wants to be the only idiot buying your product. So the more testimonials, the better. Avoid cheesy stock photos. The goal of photos it to depict people like your buyers. Nobody looks or acts like people on stock photos. Try to get featured on as many 3rd-party sites as possible and link to those reviews, stories and articles. If your design is amateurish, cheesy or was built before 2005, you are losing sales. Mindvalley boosted its sales by 15% by just adding a McAfee trust mark on their site. You can read more here: https://cxl.com/blog/how-to-build-trust-for-your-product-10-tips/ Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi sounds like you have a lot of valuable skills - well done. I'd be happy to receive your c.v. or a link to your LinkedIn profile and I could then connect you with some of the startups I work with (or bring you on board to one of the startups I work on myself) Good luck

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi, 4a: There are various 'models' that you can use to estimate how many shares/percentages your new partner should get. These include (a) his/her investment in time and/or money, (b) the current + potential value of the company, (c) the time and/or money that you as the original founder already put in and various other models. That said, at the end of the day, it's all about value and psychology (both side's feelings). Bottom line: 1. It all really depends on how much value they are giving you (not only financial, sometimes even just moral support goes a long way). Some founder's 'should' get 5%, some should get 50% or more. 2. Ask the potential partner how much shares they want (BEFORE you name a number). 3. Have an open conversation with them in regards to each of your expectations. 4. Use a vesting (or preferably reverse vesting) mechanism - meaning that the founder receives his shares gradually, based on the time that goes by (during which he fulfills his obligations) and/or milestones reached. 5. If you want a mathematical method: calculate the value of each 1% of the shares (based on the last investment round), check how much an average CPO earns per month/year, and then you can calculate what % he/she should get for the 2-3 years they should put in. 4b. Happy to explain on a call as I would have to write another 10 lines to answer this. Very briefly though, the risk would be you not getting your shares, but if you draft a founder's agreement, you can avoid this. 4c. Tell him how much you respect him, the business and the time you worked there. Tell him that you are leaving for personal reasons. Do not tell him about the startup. Check that you don't have a non-compete class in your employment agreement. Good luck I've successfully helped over 380 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at my reviews: https://clarity.fm/assafben-david

David Favor

Fractional CTO

Easy way. Connect with publishers of health magazines, write articles for the magazine (paid or free) using soft sell techniques to promote your products. Or you could setup a Food Porn site (glitzy photos of finished recipes), where recipes skew toward using your products. Likely several 100s of ways to do this + far more detail is required about your company to venture good guesses.

Charlee Jones

I am all things branding and entrepreneurship.

Hi! I hope you and your family are doing well. I'm not sure how much you may have to invest in a time or capital sense, but with this as long as you have the time you can pretty much get around not having to use any of your money or credit to pursue this opportunity. So it's called Wholesaling, I'm not sure if you're already familiar with this but it's basically reassigning properties for a seller to a new buyer that wants the property. It's that simple (once you find a seller and buyer of course) but that's where your time would need to be invested. There are databases online that give access to the type of properties you'd be looking for to help make the job easier and you could also drive around and see houses for sale and inquire about those if they're for sale by owner. There are many key things to look for when dealing with real estate but it's worth it if you can invest the time. You could earn anywhere between $5-10,000 when closing deals and you'd do that 2-3 times a month once you get the hang of things. I hope this helped!

Joy Broto

Global Corporate Trainer & Strategist

There are several models you can opt for. Freemium: With this model app publishers offer mobile users to download apps free of charge to use with a limited set of features and charge them via in-app purchases for premium features, additional content, or digital goods. In-App Purchases: One of the app monetization strategies that is particularly relevant to mobile games only is in-app currency. A typical example would be offering a mobile game users to buy via in-app purchase a set of coins for them to use in the game, e.g. Quoting Apple's description of the Subscription model: Auto-renewable subscriptions give users access to content, services, or premium features in your app on an ongoing basis. With this model, app developers can offer multiple plans with options to upgrade, downgrade and crossgrade . The major feature of this model that appeals to users is that with Subscription model developers can offer a discount for a long subscription period. Affiliate Marketing and Lead Generation: Such time proven monetization strategy as affiliate marketing can be yet another way for app developers to monetize their mobile inventory. In a nutshell, affiliate marketing for mobile apps is about being rewarded with a commission fee for every instance when a mobile app was downloaded or specific action was taken with an app via the link placed inside your app. To make it work for you app monetization strategy, you need to choose what specific apps to promote inside your application, apps that can compliment your app for your users experience. You can read more here: https://www.businessofapps.com/marketplace/app-monetization/research/app-monetization-models/ Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

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