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Mijael Feldman Sabah CEO & Co Founder at Übank

Mexico

CEO & Co Founder at Übank, a rule-based savings app that turns your lifestyle into automatic savings. We use Behavioral Economics interventions to create an environment to make people save more and spend better. Fintech, Behavioral Economics, Growth and Sales are my expertise.

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Mijael Feldman Sabah

Mexico

CEO & Co Founder at Übank, a rule-based savings app that turns your lifestyle into automatic savings. We use Behavioral Economics interventions to create an environment to make people save more and spend better. Fintech, Behavioral Economics, Growth and Sales are my expertise.

$1.67/min

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"You Are What You Measure"
I will help you to create Experiments that will help you get the right analytics and data to make actionable and wise decisions for your Startup.

Lean Startup Designer

Co-Founder of BOMBAcamp, a Lean Startup Accelerator where i have helped over 60 Startups to turn their Ideas into Startups. Building your Lean Canvas and make Customer Development to validate your users problems and needs.

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Mijael Feldman Sabah answered

Any advice on starting up small businesses in two countries at the same time?

Hi!

Starting a business is difficult, mostrly because mos startups fail to get paying customers. When choosing where to start your business, choose the place where it is easier for you to reach your early adopters and be close to them.
Once you ger your business rolling with your early adopter showing traction, then you go to the other country.
It is very important to habe focus in one place at a time.

Hope it helps!

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Mijael Feldman Sabah answered

What are some proven ways to generate growth for a physical product?

Physical products often have an Aha! Moment (moment when user get to know the real value of the product) when they first get to use it. Organize test shows, or free trials...anything to get the product working in front of potential customers.

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Mijael Feldman Sabah answered

I'm rethinking the social media marketing strategy for my digital marketing & development agency. What 3 Twitter accounts are good examples to follow?

Neil Patel
Kissmetrics
Sean ellis
Andrew Chen

Dont remember their accounts but look for them! Their blogs are even cooler!

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Social Media Strategy

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Mijael Feldman Sabah answered

Thinking of opening a business to help people with Virtual Assistants. What niche should I choose?

The best way to find the best market or customer is to choose one segment with one "solution" and start talking with them. See if they realy have a problem and which should be your solution to solve their problem. If you realize the segment you chose is not the best, look for other and repeat the process.
By doing fast experimenta you will learn a lot and find if your business is a good one for your customer!
Hipe it helps!

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Mijael Feldman Sabah answered

What's the easiest and most effective way of teaching business owners the importance of having online presence and get them to use our FREE services?

Hi!

First, i would not give for free the service, even if the money they would pay is going to go support their communities, you want to build a 100 years business and not a 6 months hobbies.

The best way to make them use your product, is giving them a free trial period (1 or 2 months) and after using your service you calculate with them the ROI (return over investment) of having an online presence. By seeing in real money that your service provides them more sales is going to make that they want to use your product.

Dont start with all the businesses. Choose a little segment of businesses (like little retailers or gift shops) and talk to them and show them your solution, if they dont validare your solution, change to other segmento until you find the one that are willing to pay.

Maybe the solution you are proposing doesnt solee their problem and you should change or iterare the solution.

Hope it helps!

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Mijael Feldman Sabah answered

What are average profit margins in Ice Cream store business?

Hi!

I am owner of an ice crean chain with 45 stores in Chile. We have stores in shopping centers, streets and also karts that you can put in events and parks.

The average cost margin of ice cream (depends on the amount of materials you use in producing the ice cream) is around 40%. This is italian gelatto where you serve the ice cream without a specific measurement so your costs can vary due to the size of each portion you serve.

About the brand you should focus on your unique value proposition and what kind of ice cream you are selling. We import the pastry from Italy and the fruits and milk from our country. Your ROI depends on your sales price and costs. If you focus on high market ice cream you can charge high and keep costs down.

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Mijael Feldman Sabah answered

Question for Lead Generation Experts:- Consulting industry. How do we obtain new clients for our startup at a fast pace in consulting market?

Create content. Great content! Make yourself a reputation of being the best. Blogs, ebooks (see Hubspots ebooks, they are the best), video blogs answering your clients biggest doubts and concerns.

Share you content through the channels where your clients are and make them sign up before downloadong your content so you acquire them as potential customers.

Even doing meetups and inviting them to speak as "experts" or tell a case where they had an efperience doing x so you start bonding with them.

Hope it helps!
If you give me more details about what you do i could help more.

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Lead Generation

Mijael Feldman Sabah answered

What are the key accomplishments for the first year of a startup?

Hi!

My name is Mijael Feldman, im co-founder of BOMBAcamp (www.bombacamp.com), an early stage startup accelerator for spanish speaking market.

How many paying customers you have for your product/service.
Visits/users/suscribers/followers are worth nothing if you dont have people paying for you product.

Best validation for a startup in its first year is to habe customer paying.

Validate a problem -> validate the solution
-> test solution -> paying customers. Dont worry about getting a million customers, focus on getting the first 10, then 100 then 1000.

Hope it helps! If you want more details of how doing this process i am open to jave a call with you.

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Mijael Feldman Sabah answered

How should I structure a customer meeting when doing customer development?

Hi!

Im Co Founder of BOMBAcamp (www.bombacamp.com) a lean startup accelerator for spanish speaking entrepreneurs. We habe accelerated through our different programs more than 2000 entrepreneurs in early stage to validate their idea.

The best to do a customer development interview is:
1. Introduce yourself, what problem have you seen and if this problem relates to him (your customer).
2. Ask the interviewed person to talk about him self, what does he do, family, work, friends, hobbies..etc
3. Ask open ended questions as tell me how is a typical day, tell me the last time you had the problem, how did you feel, what did you do to solve it, how often do you suffer this problem.
Try to look for stories of past behaviours and see the difference between what they do and what they say they do.
4. Ask for feelings and ways they solve or hack the solution today.
5. Make a conclusion and ask for referrals pf people they know have the same problem.
6. Ask for their contact info to reach them agaik to show them your first mvp.

Hope it helps. If you need more info we can have a call!

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Mijael Feldman Sabah answered

I'm starting a company this year, but I need a business idea. Preferably in the enterprise software space.

Hi!

My name is Mijael Feldman, im Co founder of BOMBAcamp, a lean startup accelerator for early stage startups.

First of all, to get the right idea you should experiment a lot with your ideas until you get a signal from the market (yes the market and not god).

Think about what problem for what little customer segment (segment by behaviour and common pain) and start talking with them to see if your assumption about what is their real problem. Do it fast! If you ser that there is no problem worth to be solved, see why and change problem to be solved or customer segment.

You are going to waste your time if you choose an idea and start building based on assumptions. If you start talking with your potential customers there is less probabilities you are going to waste your time.

If you want to talk deeper about how and where to start, lets get a call!

Stay awesome!

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Member since March 2013