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MenuWould a Tour bus or trailer that is a venue itself work? How could I tweak it to make it work?
A cruise ship experience on wheels! A touring entertainment venue that provides travel to entertainment or travel destination. It may sound similar to a party bus but it is greyhound upscale at a decent prices. There are many routes you could go with this.
Answers
Yes it could work. It depends on so many things. Structurally it could work. I have experience with creating a "moveable stage". Alternative venues like this are becoming more and more popular and super trendy. I compare this in some ways to food trucks. There are many things to consider though. I am a musician who regularly thinks outside the box and would be happy to work through this idea with you from the structural components to the marketing plan. It's good to do something out of the ordinary BUT there is nothing worse than being out of gas and out of power and out of cash. So let me help you build a clear road to freedom and success.
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Pitch Decks: What do investors think of comedy in pitch decks?
Instead of calling it "comedy", aim for humor. Humor that supports a key discovery helps to anchor that insight in the investor's mind. I've coached many pitches, and find that when presenters are nervous they try to go for an improvised laugh, thinking it will cut the tension. However, in most situations, it comes off as just that: improvised and cheesy. Which confims to the audience that the presenter is nervous and unsure. Humor an advanced communication skill which requires strategy, planning and practice. The best humor is subtle and smart. The goal is not to get a laugh, but to get a knowing smile.DG
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When do I release my product?
Regardless of your launch date - keep calm. Having a competitor or twenty is all but a certainty in our new business environment. It has never been easier to discover a problem, validate a solution, build a product and reach customers. But that goes for everyone. I'd urge you to consider a few questions: 1. Competitive Intelligence: If this competitor's offering is very similar to yours - what can you take away from a year (nearly) of their operations? Can you use this intel to modify your own product or approach? What have they learned in a year that you can use as a shortcut? Have they shown success in a particular vertical? If so, can you also focus there? This isn't an exhaustive list of questions on this topic - just pointing out that there is likely a silver lining to this cloud of competition. 2. Product The question of "is this ready to release?" "should I do it now, or later", "if later, how much later, when is the right time to launch" is one I field more than once a week. My opinion always skews to the "as close to now as practical." Watching founders struggle over knowing exactly when to launch as if it's a ribbon cutting ceremony for a bridge is painful for me. There is always a minimum level of development, engineering or design required to get your product into the market - but it is usually well below the perceptions of the founder. Take a minute to step back and ask yourself what will happen between now and whatever arbitrary time period you've determined is "ready". What features will you be adding? Do they matter to your users? If you said yes, how do you know - did you ask users? A lot of them? If not - you may be adding bloat before you even launch, or worse, doing what I call "building a better Yeti trap". Make sure your efforts are driven by the actual, and not perceived, assumed, or gut intuitions about what they need. Conclusion A competitive entrant is always a bit unnerving - but remember that being first to market isn't the race you need to win - that's just the start. Turn this into an advantage by drafting off their momentum. Chances are, your product is ready for some level of use right now, and that users will derive some benefit from it, and that you'll learn a lot from their usage. So, for my 2 cents, I'll borrow from my stiff upper lipped ancestors from across the pond - and suggest that you "Keep Calm, AND Launch Now" Cheers, Ryan RutanRR
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How does one raise funds for a business subsidiary without selling ownership of the "brand" identity?
In my experience, every step you take to complicate your company's structure and ownership rights reduces the likelihood of investors providing your venture with seed funding. To attract seed funding, investors expect a single-minded laser focus on the entrepreneurs' assessment of his or her best path to validating their business and growing it into a very large business as quickly as possible. So the very idea that you are reliant or considering taking multiple paths to success is likely to act as a red flag for most experienced early-stage tech investors. Also, until there is significant traction achieved, an investor is expecting to own everything generated by the business. There are rare occasions where a particular asset, brand, domain or other component of the business can be spun-out (usually in the case where it's a distraction from the core business but there's inbound demand from a buyer), but when I say rare, I mean this happens so infrequently that it's not anything that should be reasonably expected in the course of planning. Speaking candidly, this entire strategy creates a perception (accurate or unfair) that you are undecided on a number of the key questions you need to be sure of before you have a good chance of raising seed funding. I'd be happy to talk to you about what you're doing and help provide some clarity based on what I hear. I encourage you to review my references as I have been helpful to many other Clarity members on these types of issues.TW
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What to do if my startup is about to fail?
If you're a service business and haven't been able to make profit, then I highly doubt investors are going to get involved. The beauty of selling your time is you can get people to buy right away, and if they pay anything above $25/hour - then you should make profit assuming you can live off of $50K/year salary. All that being said, here's what I did when I almost went bankrupt building my company Spheric Technologies (at the time I had 3 employees). 1) I got on the phone and started calling old friends loosely tied to the industry and asked for advice. Doing so introduced me to new opportunities, ideas and connections. I spend every night - after working 8 hours with a client - emailing and calling 15+ people. Some I knew, some I didn't, many I hadn't talked to in years. 2) Focused on sales & getting paid faster. Many times - especially a service based business - will die due to cashflow issues... they can't afford to pay their employees bi-weekly, and wait on the sidelines while their customers pay them net 30, 45 or worse 60+. So I hustled to get my existing customers to pay me Net 0, and going forward, got a deposit (20% up front) and kept the invoice every 2 weeks, Net 0, paid via wire transfer or credit card. 3) Refined the business to focus only on 1 customer type that was profitable. In the early days you take on anything that will "make you money" but you quickly learn that not every customer is the same. If you know this, stop working with customers where you can't make 30% net profits off a project, and use that as your filter for new opportunities. Also, raise your prices if you aren't making profit. Someone in your industry is... so can you. Unfortunately, there's no short cut or silver bullet - but the pattern to follow is listed above. I eventually grew that business to 30 employees in 4 years (bootstrapped 100%) and was acquire in May 2008 before the crash. It was the easily the most intense time of my life, but I learned A LOT of lessons that I continue to use today. Call if I can help, but assuming I maybe priced outside of your range ... that being said, there's thousands of other folks who can help for as little as $30, so get on a call today.DM
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How do you get your first customers for a consulting business?
Back when I started LinkedIn wasn't as huge as it is now. I wish it was. I didn't have a large network and those networking sessions NEVER brought me any clients. I used to go to all sorts of them hoping to get clients. There were a couple of nibbles here and there, but never anything serious. The only thing that helped was reaching out DIRECTLY to people in my target market. That meant cold calls and cold emails. I'd sell myself while thinking about their needs. Once I got a few bites I'd build good rapport by keeping in touch, asking questions, repeating back what they were saying so that they knew I was on the same page and kept my promises. If I said I'd call them back next Tuesday at 2:15 I'd do so. Eventually I built trust with them without having a network, or an insane amount of experience. Oh and the most important thing about consulting is to LISTEN. When those first clients notice that you're truly listening and you're not selling the cookie cutter solutions everyone else is trying to sell them that's when you got them hooked. You start to understand their problems, fears, and see through their eyes and not just yours. A network will help, but in the beginning just good 'ol salesmanship will get the ball rolling.JC
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