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MenuWhat are the best blogs/websites for an entrepreneur to read?
For example, TechCrunch is great for some of the latest developments in tech companies.
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Mine. :-)
Seriously: The two mistakes I see with people and blogs is (a) spending too much time reading instead of doing, and (b) reading blogs which don't align with their own business, and therefore the advice therein isn't necessarily good FOR THEM (even if awesome for others!), and therefore is perhaps even worse than a waste of time.
Now you can tell I'm being honest because (a) implies you shouldn't read my blog after all!
Here's how you can attack (b). Decide on some fundamental characteristics of your business such as: Bootstrapping or Funding? Wanting to run forever or wanting to sell someday? Wanting to grow large and be the CEO of a 1000-person company or wanting to stay small or even stay single-person? Business model (SaaS, installed, hardware, marketplace, freemium, etc).
Now find bloggers who tend to give advice to the particular type of business you have. This can be difficult sometimes, but at least you have a lens or filter. Some of it is easy, e.g. 37signals and Joel Spolsky is about bootstrapping and staying small but profitable, whereas Ben Horowitz and Paul Graham are about getting huge with funding on online high-margin tech businesses.
And my blog? Well, you'll just have to read a few hundred articles to figure that out. :-)
Techcrunch is actually not terribly helpful for entrepreneurs, beyond watching trends and the intermittent insight into certain markets.
This is also a tough question to answer, as the list is long.
Start with quibb.com and Startup Edition. Between them you'll get a curated list of worthwhile articles and early stage founders sharing their experiences.
Great q.
You'll get a lot of answers if you Google your question, so I'll provide you with some other food for thought.
How much time a day do you spend reading, as opposed to doing?
When I was working on my first tech startup, I was young (still am) and thought it was important for me to be "informed on what was going on" so that I "wouldn't look like an idiot" in any conversation I had with a colleague or potential investor or customer.
So I read industry magazines, papers and blogs, all with different views on what was happening in our industry and the rest of the world. In fact, I spent about 1.5 hours a day reading.
1.5 hours.
And by the time I went to bed, I found I could barely recite one thing. One thing! Facts and stats blurred together. And it was it hard to go in depth on any given thing, because I was trying to absorb so much.
Now I take a different approach.
When I'm solving a problem, I'll Google it. (And often will call or email a teammate/colleague/mentor). The advice is relevant and useful, and I can act on it, so it's always worth my time.
It's a weird concept, but if you think about your brain as a garden, everything you ingest (aka content) affects it's performance. And if you spend 1.5 hours reading interesting but irrelevant and ultimately useless content, you waste time you could be doing other things to improve your ability to grow as an entrepreneur.
You won't miss out.
If there's a global situation or crisis in your industry, chances are it will come up in your Twitter feed (so you won't miss it) or at an event, and you can ask people about it (I also find it more enjoyable to learn in conversation).
I also learned it's okay not to know everything. Even Jim Collins in his book Good To Great acknowledges that the companies that are great don't have access to more information - aka information is not what sets them apart - but how they use that information to make decisions.
Hope that gives you something to think about!
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How much equity should I ask as a CMO in a startup?
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How do you make money to survive while you are building a business? What are some quick ways to make money with less time commitment?
I love this question. If you have to work on the side while building your business, I recommend doing something you absolutely hate. That keeps you hungry to succeed on your own. You'll also typically save your energy for the evenings and weekends where you'll want it for your business. Don't expect to make much money at your "other job" but you can work it to pay the bills while you build your business. This approach also forces you to build incrementally, and it keeps you frugal. This is not necessarily ideal. Having a bunch of money set aside sounds nice and luxurious, but not having the resources puts you in a position where you have to figure it out to survive. I love that. I started my business eight years ago on $150 and today we do a million a year. Don't wait until you have the resources to start safely. Dive in however you can. And avoid shortcuts. Don't waste your time scheming to make bigger money on the side. Do something honest to live on and create a business that drives value.CM
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How was SnapChat able to grow so quickly?
I'm answering your question assuming that you hope to be able to replicate it's own success in your own mobile app. There are a couple of factors responsible for it's growth that are instructive to anyone building a mobile app. "Leveraging the intimacy and privacy of the mobile phone." We now have an *intimate* relationship with our phone like no other device in the history of technology. Every internet company that started before around 2010 has built their core interactions around "the old web" one which was accessed primarily via a browser on a computer. Companies that start with a clean slate, should be building their interactions around how to do whatever the app is supposed to do while leveraging what is unique to people's relationship to their mobile devices. Photo-sharing has become a core part of the way we communicate now. Snapchat built something that provided an experience that leveraged the feeling of privacy and intimacy that is unique to mobile. "Provided an escape from the "maturity" of other online services." Too many parents, aunts, uncles and other "old people" have encroached into the social networks of teens and young people. As a result, they've had a desire to find places to express themselves in places inaccessible by older generations. An important distinction is that it's not just parents and relatives that young people are trying to avoid, but also employers & colleges who are increasingly using "mature" social networks to review applicants. "Leveraged PR even bad PR" The fact that the app got so much press about it being used to sext was perfect PR for the company, as it essentially reinforced the brand experience that it has today. Essentially, "if it's safe enough to send a sext, it's safe for any kind of communication I want to have." And although the safety and security of Snapchat is actually not as advertised, it still enjoys the reputation of having less impact than any primarily web-based service. Building a successful mobile application is one of the hardest challenges to face designers, programmers and entrepreneurs in the history of writing software. Happy to talk to you if you're considering building a mobile app, about what I've learned about the "table stakes" for success.TW
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I have this social media idea,but no coding skills. How do I get someone to do the coding (cant afford to pay them) and not give away half of my idea?
Dilip was very kind in his response. My answer might be a bit on the "tough love" side. But that's for you to decide. My intention, just for the record, is to help you (and those like you) on your path to success. And that starts with having a viable philosophy about entrepreneurial-ism and business. And I'm going to answer this because I get asked some form / version of this question very frequently from newcomers to entrepreneurial-ism. The scenario goes something like this: "I have a great idea. It's amazing, I love it, and I just KNOW it's gonna make me a ton of money. But I have no money right now so I can't afford to (fill in the blank with things like "to build it / create it / market it / etc" or "to hire the required staff needed to work in my business to sell it / develop it / etc"). And I don't want to tell anyone about my great idea because I'm worried someone will steal it and make MY million / billion dollars. But I can't afford to legally protect it either... So how do I launch without the skills to personally create the product AND no money to hire anyone else to do that either??" The answer is ... You don't. Look - let's be honest. All you have is an idea. Big deal. Really. I'm not saying it's not a good idea. I'm not saying that if properly executed it couldn't make you a million / billion dollars... But an idea is NOT a business. Nor is it an asset. Until you do some (very important) initial work - like creating a business model, doing customer development, creating a MVP, etc - all you really have is a dream. Right now your choices are: 1. Find someone with the skills or the money to develop your idea and sell them on WHY they should invest in you. And yes, this will mean giving up either a portion of the "ownership" or of future income or equity. And the more risk they have to take - the more equity they will want (and quite frankly be entitled to). 2. Learn how to code and build it yourself. MANY entrepreneurs without financial resources are still resourceful. They develop the skills needed to create what they don't have the money to pay someone else to do. 3. Get some cash so you can pay someone to do the coding. You'll probably have to have some knowledge of coding to direct the architecture of your idea. So you will likely still have to become knowledgeable even if its not you personally doing the coding. (This is not meant to be a comprehensive list of options... And I'm sure some of the other experts here on Clarity have others to add - and I hope they do) To wrap up - Here's my final tip to you that I hope you "get"... It's FAR more valuable to have an idea that a very specific hungry crowd is clamoring for right now - One that THEY would love and pay you for right now - Maybe even one they'd pre-order because they just have to have it - Versus YOU being in love with your own idea. [Notice I didn't say "an idea that some as-of-yet-undetermined market would probably love"] I wish you the best of luck moving forward.DB
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