Tag: Selling
My new startup
I’m launching a new startup. For those who don’t know about it here are some of the key points:
- The brand extension comes from an already successful enterprise
- The partnership & legal agreements were entered into over a year ago
- The idea is not an original one, rather a new execution of a proven formula
- We didn’t pitch the idea or ask for permission, we just did it
- It’s a brand extension
- It’s a self funded project with no external capital. But we wont have ownership
- We will give away the corporation, once it is cash flow positive
- It’s a very long lead project
- It wont be cash flow positive for more than 20 years
- Estimated cost of the project is around $500K
- We do expect to however, to yield emotional & community benefits very early after launch
- It’s an industry we’ve never worked in before, but have a natural flair for it
- Some of the product development will be outsourced to 3rd parties
- Outsourcing will occur in 3 large segments of up to 6 years each
- The most important product development will be done in house
- There wont be any major advertising, brand awareness will be driven through family & friends
- We already know it’s unique, but wont require any intellectual property protection
- However, major security measures will be taken to protect the asset, especially in the incubation phase
My new startup is my baby due January 25th, and it’s the most exciting one I’ve ever been involved in. We’re involved in more startups than we think…
Startup Blog says: Let’s not define ourselves by what we own, but the cool stuff we do.
Building a web community
I was asked during one of my live twitcam sessions the title of this blog entry, with the number 3 in front of it. What are 3 things needed to build a web community. This is the answer I came up with right on the spot.
- Participate
- Share
- Keep costs low
Participate: Use the service, website and community you are building. Be an avid user and of it yourself, even though you own it or built it. I use rentoid more than anyone and love it. You are not part of a community if you are a spectator. You need to be involved in it. Listen, create, help, assist, but not rule over. It’s not a kingdom or a principality, it’s a community, which means that all participants are equal regardless of their status. It doesn’t matter, if you are the customer or the creator of the community, everyone matters. It should be evident in the organic dynamics that all of the community are valued. everyone has something to offer and add that we can all benefit from.
Share: Share not because you expect something back. Share because we are all humans, and this is how humans roll. We are great at being there for each other a providing support. Doing stuff for the benefit of others for reasons that go beyond the financial. it was once said that the perfect day is the day you help someone who will never have the chance to repay you.
Keep costs low: Not for any economic reason, other than building things of incredible value like communities take time. If you build an expensive infrastructure for your community there will be too much financial pressure on making it work quickly, and communities don’t work like that. They are organic and take time to find a balance and set of values and systems. If you have too much cost associated with what you are doing, your behaviour will become non-community like. It just wont work.
Startup Blog says, Start building.
Startup School – 1 seat left
I’m very excited that Startup School Melbourne is this weekend. We still have a single seat left which is currently being warmed by this guy….
But we’d love to replace him with you. And if you need any more convincing then I’m pretty sure I’ll have done the job once you finish reading this blog entry.
Firstly – here’s a list of topics we’ll be covering in detail:
- Idea Generating
- Creativity in business. Creative thinking
- Raising Capital
- Art of Pitching
- Legal tips, shortcuts and administration
- Successful outsourcing (digital & production)
- Building an international work force
- Cash flow for startups & budgeting
- Simplified project management
- Personal & business branding
- Selling like a guru
- Generating PR and media
- Building a Team
All of which is fully documented in a take home working manual so you’ll leave knowing exactly what to do and how to do it. Like I have.
We are also being joined by Yvonne Adele – Globally renowned Creativity and ideas guru!
You can’t learn this stuff in school, books or at University. And I should know as I teach Marketing at Melbourne University. You also get me as an on going mentor as a Startup School graduate with unlimited help in your start up. Which is incredible value give what most consultants (with less real experience) charge by the hour.
We are holding the event in the groovy boutique Lindrum Hotel. Where the space is great and the food and espresso is awesome. I tested it.
All of which is included in the price. You’ll be one of 10 people in an intimate learning environment. Not in a room full of people.
If that’s not enough , Startup School comes with a money back guarantee to blow your mind. I can say this because I know the 2 days will.
No, it’s not priceless – it’s priced at $998.
It will be the best investment in your entrepreneurship education you’ve ever made. it will make and save you thousands. This event is a one off, there is no next chance. If you want to chat about it – call me on the phone number in the right hand side bar of this blog.
(Seats still available for Sydney 21st & 22nd of November)
See you on the weekend, Steve.
Quirky Fact & Business models
It costs the soft drink Industry over $100 million a year for thefts committed involving vending machines.
*actual Coke vending robots!
Yet vending machines still exist for one simple reason. This is still a profitable business regardless of the theft.
So often in startup land we here people pointing out the gaps and potential issues in any business model we propose. The fact is no business model is perfect. Every business has gaps and potential issues which will impact profitability. There is always leakage, there is always some evaporation. What we need to focus on is the net result and understand if we can still make a profit regardless of the model imperfections.
Seek.com.au – Trolley Radvertising
Seek has pulled off another piece of radvertising with Trolly.
[youtube=http://www.youtube.com/watch?v=q9obKNEE_1Q]
This is spot on for seek. Classic single minded proposition showing breadth of jobs.
Well done Seek marketing crew.
Decision intertia
I was having an interesting discussion with a colleague Cris Pearson (founder of Skitch & Comic Life) about pricing models on the web – as soon I’ll be changing the rentoid model.
I asked his some advice and his response was so simple it is till ringing in my ears.He said;
The more choices you give consumers, the less likely they are to do any anything.
He then went on to say ‘choose a price’ not multiple options, to avoid decision inertia. The question for startups is – what complexity barriers have we created which stop our people from buying from us?